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UPDATE 2-British carmakers and aerospace groups answer call to make ventilators

LONDON (Reuters) – Some of Britain’s biggest companies with expertise in aerospace and cars have formed three teams to produce basic ventilators to help the National Health Service cope with the coronavirus outbreak. Meggitt (MGGT.L), which employs 12,000 people and builds components including oxygen systems for civil aerospace and military fighter programs, is leading one… Continue reading UPDATE 2-British carmakers and aerospace groups answer call to make ventilators

Uber says rides down by as much as 70% in cities hardest hit by Coronavirus, looks at delivering meds

Uber — the on-demand transportation and food delivery behemoth — has been hit hard by the novel coronavirus pandemic. CEO Dara Khosrowshahi said today in a call with investors that ride volume has gone down by as much as 60%-70% in recent days in the hardest-hit cities like Seattle, and that’s before you consider the pauses… Continue reading Uber says rides down by as much as 70% in cities hardest hit by Coronavirus, looks at delivering meds

Uber says a coronavirus worst-case scenario could cost it $7 billion and rides could slump as much as 80% (UBER)

Uber has seen its rides business shrink up to 80% as the spreading coronavirus forces people to stay home.  The company is modeling up to an $7 billion hit in its worst-case scenario model, it said Thursday.  Executives said on a conference call that Uber Eats could help ease some of the pain as people… Continue reading Uber says a coronavirus worst-case scenario could cost it $7 billion and rides could slump as much as 80% (UBER)

Ford pulls down $15.4 billion in credit as virus hits

FILE PHOTO: Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay (Reuters) – Ford Motor Co (F.N) said on Thursday it was drawing down $15.4 billion from two existing credit lines and suspending dividend payments as it bolsters its reserves to ride out damage to… Continue reading Ford pulls down $15.4 billion in credit as virus hits

Volvo recalls 750,000 cars globally amidst concerns about faulty emergency braking

AEB fault was identified on an XC60 by Danish motoring body FDM during a road test in late 2019. Volvo has recalled nearly 750,000 vehicles worldwide amid concerns that their autonomous emergency braking (AEB) systems are faulty. The fault – affecting 736,430 cars, 56,368 of which are in the UK – was identified by Danish motoring body FDM during a… Continue reading Volvo recalls 750,000 cars globally amidst concerns about faulty emergency braking

Press Lordstown Motors wants to avoid the ‘carnage’ of failed EV startups

One of the stranger dramas that’s played out during Donald Trump’s presidency is that of the former General Motors factory in Lordstown, Ohio. In a bid to cut costs and move away from sedans, GM announced in 2018 that it was closing the plant (along with two others) and laying off its workers there. Trump… Continue reading Press Lordstown Motors wants to avoid the ‘carnage’ of failed EV startups

Elon Musk: Tesla ‘will make ventilators if there is a shortage’

Sponsored Links Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington, Monday, March 9, 2020. ASSOCIATED PRESS Elon Musk simply refuses to stop tweeting (because “Twitter is fun“) but his most recent conversation could be about more than fun. While facing widespread criticism over his response to… Continue reading Elon Musk: Tesla ‘will make ventilators if there is a shortage’

Foreign, Domestic Automakers Suspend Production at North American Factories

Photo via Wikimedia/Anonyme General Motors, Ford, and Fiat Chrysler will suspend production at North American manufacturing facilities to fight the spread of COVID-19/coronavirus, according to press statements and news reports. Both GM and Ford stated their suspensions will last until at least March 30. GM stated its production status will be reevaluated week-to-week after that.… Continue reading Foreign, Domestic Automakers Suspend Production at North American Factories