The enterprising company is fast-tracking plans to produce the Lordstown Endurance fully-electric pickup truck, which is slated for production later this year – becoming the first U.S. automotive OEM in the race to produce the industry’s first fully-electric pickup truck, purpose-built for fleet use. When it came to the design and prototyping of its leading new… Continue reading Lordstown Motors And Hydra Design Labs Partner To Develop Endurance EV Pickup
Category: Newswire
The Volvo Group Takes Measures to Reduce Cost and Accelerate Transformation
GOTHENBURG, Sweden, June 16, 2020 /PRNewswire/ — The COVID-19 crisis is expected to have a negative effect on economic activity in many of the Volvo Group’s major markets in the short and medium term. Volvo has continuously adjusted its operations to lower demand from record levels in the first half of 2019 by utilizing the… Continue reading The Volvo Group Takes Measures to Reduce Cost and Accelerate Transformation
Hyundai, Kia Pass 1.5 Million Mark in Combined Green Car Sales
Hyundai and affiliate Kia have seen their combined sales of eco-friendly cars exceed the 1.5 million milestone globally.Despite the economic slowdown caused by the coronavirus epidemic, their green car sales in the first five months of the year rose 12 percent on-year to 160,000 units.The carmakers are also expanding their presence in the global green car market.
Renren Announces Appointment of Acting Chief Financial Officer and Change in Board of Directors
BEIJING, June 16, 2020 /PRNewswire/ — Renren Inc. (NYSE: RENN) (“Renren” or the “Company”), which operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) (“Kaixin“) as well as several U.S.-based SaaS businesses, today announced that Ms. Yi Yang has been appointed as acting Chief Financial Officer, effective… Continue reading Renren Announces Appointment of Acting Chief Financial Officer and Change in Board of Directors
Jaguar Land Rover plunges to £501m loss as sales sink
Jaguar Land Rover has plunged to a huge loss as sales fell by almost a third in the first three months of the year, driving it to announce 1,100 jobs will go.The 1,100 agency workers being cut from the company’s manufacturing operations will leave about 1,000 contract staff spread around the business, including in non-production roles.In January 2019, about 10pc of the workforce – 4,500 jobs worldwide – was cut as JLR responded to falling sales of its cars.
Spain launches a $4.2 billion coronavirus auto industry stimulus package
Spain launched a 3.75 billion euros ($US4.2 billion) stimulus program to help the country’s automotive industry recover from the fallout of coronavirus.The automotive industry is considered one of the many lifelines of the Spanish economy.Spain is Europe’s second largest car manufacturing country, producing around 3 million cars every year.
Kongsberg Automotive: OSE notification regarding EGM
Mon, Jun 15, 2020 11:11 CET KONGSBERG AUTOMOTIVE ASA – ALL RESOLUTIONS PASSED BY THE EXTRAORDINARY GENERAL MEETING NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD… Continue reading Kongsberg Automotive: OSE notification regarding EGM
Kongsberg Automotive Renegotiated Terms for its Revolving Credit Facility
Sun, Jun 14, 2020 21:43 CET Kongsberg Automotive (the “Company”) has renegotiated certain terms of its Euro 70 million revolving credit facility (“RCF”) with its banks, Danske Bank and J P Morgan. Under this relief agreement (“Relief Agreement”), the Company can utilize 80% of its RCF line without being subject to the NIBD/EBITDA covenant testing.… Continue reading Kongsberg Automotive Renegotiated Terms for its Revolving Credit Facility
Auto sales rebound for second straight month in May
Vehicle sales in May soared 14.5 percent year-on-year in China as customer confidence was boosted by the country’s ability to mitigate the coronavirus pandemic.The government’s stimuli on new car sales and generous discounts at dealerships were also contributing factors.The Japanese carmaker’s other joint venture FAW-Toyota delivered over 72,000 vehicles in the same month, up 2 percent.
Volkswagen, Audi ordered to keep Mexican factories shut 13.06.2020
German carmaker Volkswagen and its subsidiary Audi won’t be able to restart production at their plants in the Mexican state of Puebla as planned on Monday due to fears about the coronavirus spreading.Its plant at Puebla southeast of Mexico City is the largest automobile production facility in the country.The Mexican newspaper La Razon reported that restarting production at the Audi and VW facilities in Puebla would see some 30,000 employees returning to work.