Automaker Toyota suspends vehicle production in Vietnam due to COVID-19 epidemic

HANOI, March 31 (Xinhua) — Toyota Motor Vietnam (TMV) has temporarily suspended vehicle production in order to prevent the COVID-19 outbreak from spreading, Vietnam News Agency reported.
The outbreak has impacted all aspects of business, from economy to society, including the automobile industry, and Toyota dealers in the capital city of Hanoi have temporarily closed showrooms and workshops, the news agency cited Toyota as reporting.
Production resumption will depend on the outbreak situation, market demand, supply chain situation, stocks and the country government's restriction regulations, the news agency reported.
TMV is the second automaker in Vietnam to announce operation suspension due to the impacts of COVID-19. The first was Ford Vietnam which suspended operations at its factory in the northern province of Hai Duong.

Valmet Automotive Annual Review 2019: Successful entry into battery business, significant improvement in EBITDA and cash flow despite challenging envi…

Valmet Automotive’s EBITDA and cash flow improved significantly from the previous year, operating profitability slightly and the annual car production of 114,000 vehicles reached again a record volume. Sales of EUR 651.5 million, EBITDA significantly improved Valmet Automotive’s net sales in 2019 were EUR 651.5 million (662.6 in 2018), which was 2 % lower than in… Continue reading Valmet Automotive Annual Review 2019: Successful entry into battery business, significant improvement in EBITDA and cash flow despite challenging envi…

France’s Renault puts Paris white collar staff on partial unemployment

PARIS, March 30 (Reuters) – French carmaker Renault put most of its white collar staff in the Ile-de-France region around Paris on partial unemployment on Monday as the lockdown imposed due to the coronavirus outbreak lowered activity.
The company will use the scheme that French government has set up to fight the economic crisis caused by the pandemic.
Under the scheme, Paris has pledged to reimburse companies so that workers placed on partial unemployment can still get most of their salary.
“After a two-week stoppage of industrial and commercial activity, it is necessary to adapt the working hours of employees”, a Renault spokeswoman told Reuters.
From Monday and until further notice, Renault white collar staff will work from home in the morning and will be on partial unemployment in the afternoon.
Only a few people will keep their full-time jobs to ensure key activities such as security, maintenance and communication.
The partial unemployment measure in the region of Paris will affec..

GROUPE RENAULT : Status on tplant closures as of March 30, 2020

COMMUNIQUÉBoulogne -Billancourt, March 30, 2020Groupe Renault informs that, due to the impact of the COVID-19 sanitary crisis, all the Group’s plants are now halted, with the exception of plants in China and South Korea, which are either back in operation or in the process of resuming production.The Group plans to restart production activities in the… Continue reading GROUPE RENAULT : Status on tplant closures as of March 30, 2020

­­­Nexteer Reports 2019 Financial Results

AUBURN HILLS, Mich., March 29, 2020 /PRNewswire/ — Nexteer Automotive today reported annual results for its fiscal year ended December 31, 2019.  The Company’s 2019 financial results were impacted by various environmental challenges including lower OEM light vehicle production across all regions, led by a decline in China, a GM-UAW labor strike in North America interrupting vehicle… Continue reading ­­­Nexteer Reports 2019 Financial Results

BYD’s New Blade Battery Set to Redefine EV Safety Standards

BYD highlighted a video of the Blade Battery successfully passing a nail penetration test, which is seen as the most rigorous way to test the thermal runaway of batteries due to its sheer difficulty. “In terms of battery safety and energy density, BYD’s Blade Battery has obvious advantages,” said Professor Ouyang Minggao, Member of the… Continue reading BYD’s New Blade Battery Set to Redefine EV Safety Standards