It set back the startup’s ability to market its products and brought the safety of NEVs back into the spotlight.On Tuesday, the Ministry of Industry and Information Technology launched three mandatory national standards on the safety of electric vehicles.China’s NEV standards are the first mandatory national standards for the country’s electric vehicle industry.
Category: Newswire
BMW remains optimistic with a glimmer of hope coming from China
China is offering a ray of hope for BMW as auto markets in Europe and the US are still reeling from the coronavirus pandemic.The overall car market saw a 4.4 percent rise in April as well, ending a 21-month decline.The carmaker is ramping up investment in the country because of its confidence in the medium and long-term business outlook of the world’s largest auto market.
SsangYong launches downsized gasoline Tivoli SUV in Europe
SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Monday it launched a downsized Tivoli SUV in Europe last week to help revive sales.The SUV-focused carmaker currently sells most of its models in Europe: the Tivoli models with a 1.5-liter turbocharged gasoline engine or a 1.6-liter diesel engine, the flagship G4 Rexton, Korando and Rexton Sports SUVs.Mahindra currently owns a 74.65 percent stake in SsangYong Motor after two rounds of rights issues worth 130 billion won since 2013.
WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
BERN, Switzerland and FRIEDRICHSHAFEN, Germany, May 15, 2020 (GLOBE NEWSWIRE) — WABCO Holdings Inc. (“WABCO”) (NYSE: WBC) (www.wabco-auto.com) and ZF Friedrichshafen AG (“ZF”) today announced that the Chinese State Administration for Market Regulation provided regulatory clearance for their previously announced merger.All required regulatory approvals have now been received and WABCO and ZF expect to close… Continue reading WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
BMW plant in Debrecen will be built, FM says
The value of the investment is more than EUR 1 billion.The construction of two motorway exits is also proceeding according to schedule.Michele Melchiorre, managing director of BMW Manufacturing Hungary, confirmed that the construction work is proceeding according to schedule.
General Motors chief calls jobs cuts in self-driving unit ‘prudent’
General Motors (GM) chief Mary Barra on Friday labeled as “prudent” the automaker’s plans to cut staff in its self-driving car unit.Workers who lose their positions will receive transition assistance and health care benefits for the remainder of the year.GM had stockpiled cash ahead of the pandemic and was the only one of the “Big Three” carmakers to turn a profit in the first three months of the year.
Catalan authorities deny report of Nissan closing factory in Barcelona
MADRID, May 15 (Xinhua) — The Catalan regional authority on Friday denied a report that appeared in the Japanese newspaper Nikkei on Thursday that automaker Nissan is planning to close its car factory in Barcelona and move production to other plants.
The Catalan region's Vice President Pere Aragones, who is also responsible for economy and finance, said on the Spanish radio network Radio 4 that Catalan authorities “were in contact with the company and unions. Nissan tells us they have not taken a decision yet and one will be made on May 28.”
The Nissan plant in Barcelona currently employs around 3,000 people directly and is also responsible for thousands of other posts in the logistics and transport sectors. Workers at the plant have been on strike since the start of the month because of the uncertainty over their future and the possible risk of working during the coronavirus pandemic.
Aragones said authorities would do “everything possible” to keep production at the plant. “Ther..
Ford’s Launches of F-150 and Bronco to Be Delayed By Months
Ford Motor Co.’s launches of three important new models — the redesigned F-150 pickup, all-new electric Mustang Mach-E and revived Bronco sport-utility vehicle — will be set back by roughly the amount of time its plants have been idle.
Mercedes Halting U.S. Plant Production Due to Mexico Parts Delay
Daimler AG is suspending production at a Mercedes-Benz SUV plant that was one of the first in the U.S. to reopen due to a shortage of parts supplied from Mexico.
SsangYong Motor posts record Q1 loss amid virus woes
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.