Category: Automotive

Commercial vehicle production falls -11.5% in August

25 September 2020 #SMMT News #UK Manufacturing August commercial vehicle production declines -11.5%, with 4,915 vans, taxis, trucks and buses manufactured. Some 641 fewer vehicles produced in the month than the previous year, which marked the strongest August since 2012. Year-to-date performance remains down, as industry struggles to make up demand shortfall of -20.0%. UK… Continue reading Commercial vehicle production falls -11.5% in August

UK car manufacturing falls -44.6% in August as coronavirus bites again

UK car production declines -44.6% in August with 51,039 units rolling off factory lines. Ongoing coronavirus crisis stalls efforts to ramp up output with weak demand overseas compounded by heavy domestic losses. Production so far this year down -40.2% with a loss of 348,821 units worth more than £9.5bn to UK car makers. As pandemic’s… Continue reading UK car manufacturing falls -44.6% in August as coronavirus bites again

Tenneco Releases Annual Sustainability Report Outlining 2019 Progress and Plans for the Future

As outlined in the report, Tenneco continues to make strides toward improving its Environmental, Social and Governance strategy, including key performance metrics, and evaluating Sustainability Accounting Standards Board (SASB) and other reporting frameworks to drive long-term stakeholder value. Along with these metrics, the company has committed to share best practices and employ continuous improvement initiatives… Continue reading Tenneco Releases Annual Sustainability Report Outlining 2019 Progress and Plans for the Future

PSA and FCA offer van concessions to win EU nod for $50bn merger

PSA and FCA offer van concessions to win EU nod for $50bn merger Read M&A insights you won’t find elsewhere Exclusive scoops Smart data to help spot risk and opportunity Analysis of broader trends in M&A Lex, our agenda-setting business commentary (Premium only) Due Diligence, an exclusive M&A newsletter (Premium only) Choose your subscription Trial… Continue reading PSA and FCA offer van concessions to win EU nod for $50bn merger

Kongsberg Automotive enhances its financial capabilities by an additional “Receivables Securitization” facility

Fri, Sep 25, 2020 18:44 CET We have today, September 25th, entered into an agreement with NORD/LB and Finacity Corporation (“Finacity”) to provide to Kongsberg Automotive Group a committed 60 Million EUR facility with a three years tenure, intended to take effect on October 19th, 2020. The securitization program will finance trade receivables originated by… Continue reading Kongsberg Automotive enhances its financial capabilities by an additional “Receivables Securitization” facility

HumanForest suspends London e-bike sharing service, cuts jobs after customer accident

UK-based startup HumanForest has suspended its nascent ‘free’ e-bike service in London this week, after experiencing “mechanical” issues and after a user had an accident on one of its bikes, TechCrunch has learned. The suspension has also seen the company make a number of layoffs with plans to re-launch next spring using a different e-bike.… Continue reading HumanForest suspends London e-bike sharing service, cuts jobs after customer accident

‘Journey into the unknown’ as Bridgend Ford closes

Ford Bridgend is ending production after 40 years and 22 million engines in the south Wales town. Before the closure announcement, there were 1,644 staff employed at the site, most of whom have opted for retraining. More than 120 people will remain on site for a number of months to support the decommissioning. The plant’s… Continue reading ‘Journey into the unknown’ as Bridgend Ford closes

End of Ford and Bridgend marriage ‘hard to take’

The Ford plant in Bridgend will shut down for the last time later, bringing to a close four decades of production at the site. The closure, announced in June 2019, will have a major impact on the local community in Bridgend, with the loss of hundreds of skilled, well-paid jobs. When opened in May 1980,… Continue reading End of Ford and Bridgend marriage ‘hard to take’

All-Electric Zero Emission Buses from Lightning Systems Now Offered on CALACT Purchasing Contract

LOVELAND, Colo., Sept. 25, 2020 /PRNewswire/ — Communities throughout California can now purchase zero-emission, all-electric (ZEB) shuttle buses and ADA-equipped vans from Lightning Systems on a new California Association for Coordinated Transportation (CALACT) cooperative purchasing contract. Continue Reading Lightning Systems offers battery-electric E-450 shuttle buses and other vehicles on the CALACT contract City and county governments,… Continue reading All-Electric Zero Emission Buses from Lightning Systems Now Offered on CALACT Purchasing Contract