Category: Automotive

GM to propose wage freeze, no bonuses for South Korean workers this year

SEOUL (Reuters) – General Motors Co will propose a base wage freeze and no bonuses this year as well a suspension of some worker benefits at its money-losing South Korean unit, in an effort to cut costs, showed an internal letter seen by Reuters on Friday. GM announced last week it would shut a plant… Continue reading GM to propose wage freeze, no bonuses for South Korean workers this year

FAURECIA SUCCESSFULLY PRICES €700 MILLION OF 2.625% SENIOR NOTES DUE 2025

Faurecia announces the success of the above transaction, launched February 21st, 2018. Faurecia priced €700m of senior notes due 2025 at 2.625%. The quality of the investor base and the very favourable conditions achieved demonstrate the significant appreciation of Faurecia’s credit quality. Faurecia will use the proceeds of the issuance of the Notes, together with… Continue reading FAURECIA SUCCESSFULLY PRICES €700 MILLION OF 2.625% SENIOR NOTES DUE 2025

Press Release – Magna Announces Fourth Quarter and 2017 Results and Raises Quarterly Cash Dividend by 20%

Please click HERE for a PDF version of the release. Fourth Quarter 2017 Highlights Record sales of $10.4 billion, up 12% from the fourth quarter of 2016 Record diluted earnings per share of $1.53, an increase of 23% Cash from operations of $1.4 billion Returned $461 million to shareholders through share repurchases and dividends Raises… Continue reading Press Release – Magna Announces Fourth Quarter and 2017 Results and Raises Quarterly Cash Dividend by 20%

Partnership agreed between Bosch and Munich Re

The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,500 associates worldwide (as of December 31, 2017). According to preliminary figures, the company generated sales of 78 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building… Continue reading Partnership agreed between Bosch and Munich Re

Airbus’ Vahana venture shows off video of its flying car’s first test flight in Oregon

News brief: Vahana, the Airbus-backed venture that’s developing a fleet of electric-powered air taxis, shared the results of its first flight test amid the prairies of eastern Oregon three weeks ago. But now there’s video showing the Alpha One octocopter landing on its airstrip at the Pendleton UAS Test Range. “During our minute-long flight, the… Continue reading Airbus’ Vahana venture shows off video of its flying car’s first test flight in Oregon

Tesla Hit With Lawsuit Claiming They Willingly Sold Defective Vehicles

In Brief A former Tesla employee is claiming that the company knowingly sold defective vehicles in the past, and fired him for reporting the alleged practice. Tesla is being hit with a lawsuit put forward by a former employee, who claims the company sold defective vehicles and fired him because he knew about it. The… Continue reading Tesla Hit With Lawsuit Claiming They Willingly Sold Defective Vehicles

Despite 'inappropriate behavior,' ousted Ford exec Nair keeps health and retirement benefits

Raj Nair, was Ford President of North America until Wednesday, when he was ousted for improper conduct. (Photo: Ford, Wieck) Raj Nair, the former president of Ford North America, will keep health and retirement benefits despite being ousted from the company for “inappropriate behavior.” He signed a two-year noncompete agreement with his former employer of… Continue reading Despite 'inappropriate behavior,' ousted Ford exec Nair keeps health and retirement benefits

SnappCar, Europcar Launch Drive & Share Solution

Photo courtesy of Europcar Europcar Group announced the launch of its Drive & Share solution in Germany and Denmark together with SnappCar, the second-largest international peer-to-peer car sharing player in Europe, the companies announced. Drive & Share is dedicated to people who want to enjoy the flexibility of owning a car but who don’t need… Continue reading SnappCar, Europcar Launch Drive & Share Solution

Bollinger B1 Electric Truck On Fully Charged – Video

1 week ago by Mark Kane [embedded content] Fully Charged once again takes us back to the 2017 Los Angeles Auto Show where the Bollinger B1 was one of the stars of the show. Bollinger B1 This one of the most interesting and maybe even the first true all-electric, off-road vehicle that’s production bound. With… Continue reading Bollinger B1 Electric Truck On Fully Charged – Video