Category: Newswire

Scania Plans Major Staff Reductions

SÖDERTÄLJE, Sweden, June 1, 2020 /PRNewswire/ —  The Coronavirus crisis had led to a sharp decline in revenues. Although it is currently not possible to forecast the length and severity of how the crisis will affect Scania’s business operations, it is expected that the demand for its products will remain lower for some time. Therefore,… Continue reading Scania Plans Major Staff Reductions

Spain’s Zeleros Raises 7M€ in Financing to Lead the Development of Hyperloop in Europe

VALENCIA, Spain, June 1, 2020 /PRNewswire/ — Zeleros Hyperloop has completed a financing round worth more than €7 million. The company starts a new and important phase in the development of its unique version of hyperloop, the “fifth mode of transport,” the best alternative for the future to connect efficiently and sustainably long-distance routes for passenger… Continue reading Spain’s Zeleros Raises 7M€ in Financing to Lead the Development of Hyperloop in Europe

ZF Completes WABCO Acquisition

Signalling the start of WABCO’s integration into ZF, the acquisition unites two industry leaders behind a shared vision to create a customer-focused powerhouse to advance commercial vehicle technology. With the addition of WABCO, ZF’s focus will be on expanding its commercial vehicle service portfolio and on operating customer business. “The combination of these two successful… Continue reading ZF Completes WABCO Acquisition

Autoliv Provides Market and Business Update, Accelerates Mitigating Measures and Enters Loan Facility With Swedish Export Credit Corporation

STOCKHOLM, May 29, 2020 /PRNewswire/ — Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), the worldwide leader in vehicle safety systems, today provides updates on market and company measures to manage the auto industry downturn caused by the COVID-19 pandemic. April virtually at a standstill in Europe and Americas Slow and volatile restart and ramp-up creates efficiency challenges… Continue reading Autoliv Provides Market and Business Update, Accelerates Mitigating Measures and Enters Loan Facility With Swedish Export Credit Corporation

GROUPE RENAULT : Nissan contribution to Renault’s Q1 2020 earnings

 May 28th, 2020Nissan contributes -€3,573 million for first quarter 2020 to Renault’s earningsNissan released today its results for the fourth quarter of fiscal year 2019/2020 (April 1st, 2019 to March 31th, 2020).Nissan’s results, published in Japanese accounting standards, for the fourth quarter of fiscal year 2019/2020 (January 1st to March 31th, 2020) will have a… Continue reading GROUPE RENAULT : Nissan contribution to Renault’s Q1 2020 earnings

Titanium Mobility App Paves the New Way in Car Rental

“Our new whitelabel app is a promise for a better future in car rental,” says Martin Kallasmaa, Car Rental Gateway’s Commercial Director. “It makes renting a car contactless and gives customers the freedom to go anywhere they need to without any hassle. This is exactly the solution that the market needs right now—flexible, efficient, and smart.… Continue reading Titanium Mobility App Paves the New Way in Car Rental

France’s €8bn car industry bailout raises hopes of similar UK scheme

Ministers could face growing calls to bail out Britain’s car industry after France stepped in with an €8bn (£7.2bn) rescue package for its own firms.The French government has stakes in both businesses, and the total amount of aid includes a €5bn loan to Renault.The bailout will trigger fresh demands for Britain to look at a similar plan with its car industry in a parlous position, as this video documents.

Ferrari Announces Settlement of its Notes offering  

Maranello (Italy), 27 May 2020 – Ferrari N.V. (NYSE/MTA: RACE) announces the settlement of the offering, previously announced, of Euro 650 million in aggregate principal amount of 1.500% notes due in May 2025, with an issue price of 98.898% (the “Notes”). The net proceeds of the offering were approximately Euro 641 million after payment of… Continue reading Ferrari Announces Settlement of its Notes offering  

Karma Automotive Begins Prototype Testing For Supercar-Capable E-Flex Platform

Equipped with Karma’s racing-inspired E-Flex platform suitable for both road and track day applications, the AWD performance prototype aims to achieve 1,100 HP. A combination of attributes including 10,500 lb-ft (14,000 Nm) wheel torque, electronic torque vectoring and front and rear mounted dual electric motors will generate superior power and handling for the test vehicle.… Continue reading Karma Automotive Begins Prototype Testing For Supercar-Capable E-Flex Platform