Category: News Site

UPDATE 1-Volkswagen furloughs 1,500 workers at Tennessee auto plant starting April 11

FILE PHOTO: The Volkswagen Chattanooga Assembly Plant in Chattanooga, Tennessee November 4, 2015. REUTERS/Tami Chappell (Reuters) – Volkswagen AG (VOWG_p.DE) said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic. The German automaker said the temporary emergency furloughs for… Continue reading UPDATE 1-Volkswagen furloughs 1,500 workers at Tennessee auto plant starting April 11

FCA worker based at Chelsea Proving Grounds dies as COVID-19 toll climbs

CLOSE Scenes from Detroit as residents learn to live and adapt to the COVID-19 pandemic and find their new normal. Detroit Free Press A Fiat Chrysler Automobiles worker based at the Chelsea Proving Grounds and diagnosed with the novel coronavirus died Thursday morning, the UAW said. This is the 12th confirmed death of an FCA employee… Continue reading FCA worker based at Chelsea Proving Grounds dies as COVID-19 toll climbs

GM plans to extend shutdown of Brazil auto production by 60 days

SAO PAULO, April 9 (Reuters) – General Motors Co plans to keep its Brazilian factories shut down for at least 60 more days, the company said on Thursday, as the final batch of unionized workers voted on the automaker’s proposal. GM’s plants have already stopped production amid the novel coronavirus outbreak and the new 60… Continue reading GM plans to extend shutdown of Brazil auto production by 60 days

PSA seeks to shift Fiat Chrysler merger into high gear

The tie-up was announced at the end of October and originally scheduled to be finalised in early 2021 at the latest, in order to create the world’s fourth-largest automaker Paris: The teams working on the merger of carmakers PSA Group and Fiat Chrysler (FCA) are “picking up the tempo” to finalise the merger, the head… Continue reading PSA seeks to shift Fiat Chrysler merger into high gear

Toyota to halt Indonesia production as Jakarta locks down

JAKARTA — Toyota Motor will temporarily shut down production in Indonesia, Nikkei learned Thursday, with the government ordering a partial lockdown in the capital to stem the spread of the novel coronavirus. Toyota will halt operations from Monday through April 17. Toyota subsidiary Daihatsu Motor is to suspend production for eight days starting Friday. Toyota’s annual output capacity in the country totals… Continue reading Toyota to halt Indonesia production as Jakarta locks down

Nissan seeks $4.6bn credit line to raise liquidity amid pandemic

TOKYO — Nissan Motor is seeking a credit line worth 500 billion yen ($4.6 billion) from Japanese banks, led by Mizuho Bank. The move is aimed at staving off funding problems for the Japanese automaker as vehicle sales plunge amid the new coronavirus outbreak. The Japanese automaker decided to make the request at a board meeting on… Continue reading Nissan seeks $4.6bn credit line to raise liquidity amid pandemic

Fiat Chrysler and Peugeot speed up work to close the merger

FILE PHOTO: The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of the companies in Saint-Nazaire, France, November 8, 2019. REUTERS/Stephane Mahe PARIS (Reuters) – Working groups at car makers Fiat Chrysler (FCA) (FCHA.MI) and Peugeot’s owner PSA (PEUP.PA) are speeding up work on closing their alliance deal despite the… Continue reading Fiat Chrysler and Peugeot speed up work to close the merger

Taiwanese Lithium-Ceramic Battery Maker ProLogium Technology Raises $100M In Series D Round

ProLogium Technology, a Taiwanese solid-state lithium ceramic battery developer, announced today that it has raised nearly US$100 million in Series D financing from BOCG Investment and FAW Group. The proceeds of the new round of financing will be used for the commercialization and factory construction of solid-state lithium batteries. Previously, the firm had received continuous… Continue reading Taiwanese Lithium-Ceramic Battery Maker ProLogium Technology Raises $100M In Series D Round

Mazzanti turns to crowdfunding for future hypercars – Motor Authority

Mazzanti, the maker of Italy’s most powerful production car, has turned to crowdfunding to help raise funds for the development of its future hypercars. The company, which is located near the famous city of Pisa, last week launched a campaign on Italian crowdfunding website Crowd Fund Me and is seeking 300,000 euros (approximately $326,000) in… Continue reading Mazzanti turns to crowdfunding for future hypercars – Motor Authority