Fiat Chrysler Automobiles NV is cutting production at its Canadian minivan plant, eliminating about 1,500 jobs as it grapples with flattening demand for new vehicles.
Category: Newswire
Hyundai shuts down factory after worker tests positive for coronavirus
SEOUL, Feb 28 (Reuters) – A Hyundai Motor worker has tested positive for the new coronavirus, leading to a suspension of production at one its factories in South Korea's southeastern city of Ulsan, the company said on Friday.
Shares of the automaker dropped more than 5% after the news, while the wider market was down 2.6%. The closing deals a fresh setback to Hyundai Motor, which has gradually resumed production at local plants hit by a Chinese parts shortage in the wake of the virus outbreak.
South Korea has the most infected people outside China, affecting companies like Samsung and Hyundai. South Korea on Friday reported 256 new cases, bringing the total number of infected to 2,022.
A union spokesman confirmed that a worker had tested positive, but he did not have more details.
“The company has also placed colleagues who came in close contact with the infected employee in self-quarantine and taken steps to have them tested for possible infection,” Hyundai Motor said in a news r..
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Kongsberg Automotive – Annual Report 2019
Thu, Feb 27, 2020 07:30 CET Kongsberg Automotive ASA Annual Report 2019 follows attached. Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of approx. EUR 1.1 billion and approximately 10.900 employees in 19 countries, Kongsberg Automotive is… Continue reading Kongsberg Automotive – Annual Report 2019
Kongsberg Automotive reports Q4 2019 results
Thu, Feb 27, 2020 07:30 CET Kongsberg Automotive ASA Q4 2019 Report and Presentation follow attached. Q4 2019 Highlights: Revenues declined by MEUR 7.5 (-2.6%) YoY to MEUR 280.8. This includes positive FX effects of MEUR 1.8. On a fixed exchange rate basis, our revenues declined by 3.2% YoY. In Q4 we experienced strongly declining… Continue reading Kongsberg Automotive reports Q4 2019 results
Renault: Renault Retail Group presents its project to change scope between now and 2024
PRESS RELEASE 2/27/2020Renault Retail Group presents its project to change scope between now and 2024Renault Retail Group (RRG) is planning to resize its business activities in France.The project will involve the sale of ten dealerships to reliable and robust purchasers, safeguarding jobs.The project will enable RRG to pursue its recovery and optimize future investments. Paris, February… Continue reading Renault: Renault Retail Group presents its project to change scope between now and 2024
Aston Martin clears out board as losses widen
Aston Martin plunged to a £104m annual loss during an “extremely challenging period”, as the luxury carmarker announced a clear out of its board.The company posted a £104.3m pre-tax loss for its full year, down 53pc on 2018.Mr Stroll will join the board as executive chairman when Ms Hughes departs on April 7, the embattled carmaker confirmed.
Subaru to invest 158 mln USD in Indiana plant
CHICAGO, Feb. 26 (Xinhua) — Japanese automaker Subaru announced Wednesday that it will invest 158 million U.S. dollars into two new plants that will create 350 jobs.
According to Subaru of Indiana Automotive, Subaru's North American production arm, the investment by the company will go toward adding a new service parts facility and transmission assembly shop in Lafayette, U.S. state of Indiana.
The new facilities will be located on Subaru of Indiana Automotive's 820-acre campus. Construction is expected to begin this summer on both the service parts facility, which will be a stand-alone building, and the transmission assembly shop, which will be an addition to the plant.
Subaru of Indiana Automotive is the only manufacturing facility that Subaru has outside of Asia. The company employs more than 6,000 workers and began production for Subaru in 1989. Annual vehicle production at the plant is expected to reach 410,000 in 2020.
Approximately 50 percent of Subaru's sold in ..
Ford’s incoming COO focuses on cost cuts, launches, change
Ford Motor Co’s (F.N) incoming chief operating officer outlined his priorities for the company’s turnaround on Wednesday, including cost cuts and more efficient new-vehicle launches in a year in which it will introduce a redesigned F-150 full-sized pickup truck.Ford also will focus more heavily on advantages in commercial vehicle sales.Ford is restructuring globally and faces slumping demand in China, its second-largest market.
Ford COO Sees 2009 Crisis Flashback on Faces of Colleagues
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