SsangYong Motor Co. reported on Friday that its net loss sharply widened in the first quarter compared to a year earlier, marking the 13th consecutive quarter in the red, amid growing worries over the coronavirus outbreak.Sales fell 30 percent to 649.19 billion won from 933.21 billion won during the same period.In 2011, Mahindra & Mahindra acquired a 70 percent stake in SsangYong Motor for 523 billion won.
Category: Newswire
Shouqi Limousine & Chauffeur, the second largest ride-hailing platform in China, has made profits in multiple cities nationwide
As a state-controlled online ride-hailing platform, Shouqi Limousine & Chauffeur ranks second in China’s chauffeur market, with a revenue of CNY 6.5 billion in 2019. According to Wei Dong, CEO of Shouqi Limousine & Chauffeur, the company has been principally engaged in corporate travel, business charter and employee overtime car services since its rollout in… Continue reading Shouqi Limousine & Chauffeur, the second largest ride-hailing platform in China, has made profits in multiple cities nationwide
GM’s Cruise Unit Laying Off Almost 8% of Full-Time Employees
Cruise, the self-driving car unit majority owned by General Motors Co., is laying off almost 8% of full-time employees to cut costs in the midst of the coronavirus pandemic.
BMW Group Selects NVIDIA to Redefine Factory Logistics
SANTA CLARA, Calif., May 14, 2020 (GLOBE NEWSWIRE) — GTC 2020 — BMW Group has selected the new NVIDIA Isaac™ robotics platform to enhance its automotive factories — utilizing logistics robots built on advanced AI computing and visualization technologies, the companies announced today.The collaboration centers on implementing an end-to-end system based on NVIDIA technologies — from… Continue reading BMW Group Selects NVIDIA to Redefine Factory Logistics
Martinrea International Inc. Reports First Quarter Results
TORONTO, May 13, 2020 (GLOBE NEWSWIRE) — Martinrea International Inc. (TSX : MRE), a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, today announced the release of its financial results for the first quarter ended March 31, 2020.HIGHLIGHTSTotal sales of $872.7 million;… Continue reading Martinrea International Inc. Reports First Quarter Results
Silvercar by Audi Enables Responsible Travel with Contactless Features and Services
AUSTIN, Texas, May 14, 2020 /PRNewswire/ — Finally, rental car customers are going to get what they need and what they deserve. Silvercar by Audi is helping customers prepare for the “new normal” in travel with the roll out of Contactless Rental and Delivery to You service. As part of its Responsible Travel initiative, these expanded… Continue reading Silvercar by Audi Enables Responsible Travel with Contactless Features and Services
Honda Plans Restart of Auto Production in U.K. Early Next Month
Honda Motor Co. said it plans to resume production in the U.K. early next month, the latest automaker to restart operations shuttered amid the global coronavirus pandemic.
Crave upgrades food delivery
BOISE, Idaho, May 13, 2020 /PRNewswire/ — Crave Delivery, a new entrant to the food scene, announced today the launch of our unique delivery concept. Aimed at elevating expectations in this space, Crave is a vertically-integrated platform that combines the best of remote kitchens, proprietary technology interface, and employee delivery team. Our goal is to provide… Continue reading Crave upgrades food delivery
Nissan is killing Datsun again, report says
Nissan is planning to discontinue its Datsun brand for the second time, a new report says.The automaker relaunched the nameplate in 2012 as a discount brand that’s today sold in only a few markets including South Africa, Indonesia and India, where it sells some models for as little as $4,000.An official announcement on Datsun’s fate is expected to be announced during Nissan’s earnings call on May 28.
Aston Martin Tumbles After Saying It May Seek More Funding
Aston Martin Lagonda Global Holdings Plc said it may raise more funds and will take further steps to cut costs and control cash as the coronavirus pandemic weighs on business.