Volkswagen AG’s Audi unit, the group’s largest profit contributor, is among automakers gradually reopening factories in Europe, even as coronavirus lockdowns drag on across much of the region.
Category: Newswire
Hyundai Motor resumes production in Russia amid virus woes
Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Tuesday it has restarted vehicle production at its plant in Russia that was temporarily shut down due to the new coronavirus outbreak.The plant in St. Petersburg.Kia has eight domestic plants and seven overseas ones — three in China and one each in the U.S., Slovakia, Mexico and India.
Hyundai Motor plant in St. Petersburg to resume work
ST. PETERSBURG, April 13. /TASS/. The St. Petersburg-based Hyundai Motor Manufacturing Rus plant will resume production of automobiles from April 13 to 17, the company's press service said on Monday.
The plant suspended its operations from April 6.
“The Russian plant of Hyundai Motor resumes production of automobiles from April 13 to 17, working with a single reduced production shift. The majority of office employees will work remotely. Hence, the minimum required staff will be present at the plant,” the company said.
The Hyundai plant near St. Petersburg opened in 2010 is the second largest automaker in Russia. It produces Hyundai Solaris, Hyundai Creta and Kia Rio models.
Ferrari extends Maranello and Modena manufacturing suspension until 3 May 2020.
Maranello, 10 April 2020 – Ferrari N.V. (“Ferrari” o la “Società”) (NYSE/MTA: RACE ) has extended the suspension of its manufacturing activity until 3 May 2020, in accordance with today’s Government announcement.All activities that can be managed by smart working will continue regularly as in the past weeks. The Company will continue to pay days… Continue reading Ferrari extends Maranello and Modena manufacturing suspension until 3 May 2020.
Nissan reportedly wants a $4.6 billion lifeline to ‘engineer a desperately needed turnaround’ amid the coronavirus pandemic
With the ongoing COVID-19 pandemic, car sales have plummeted and factories have been idled – leaving many automakers scrambling for cash.Nissan isn’t the only automaker struggling right now, however.Toyota, Fiat Chrysler, and others have also requested new credit lines while people continue to stay home and car sales plummet as a result.A supposed restructuring plan, scheduled to roll out next month and through March 2023, could slash 1 million cars from annual sales targets.
Renault Samsung, union tentatively OK wage deal for 2019
Renault Samsung Motors Corp. said Friday it has reached a tentative agreement with its union over wages for last year as the automobile industry tries to cope with the coronavirus outbreak, the company said Friday.Union workers held a two-week partial strike in January, causing production losses of about 10,400 vehicles worth about 200 billion won.To offset the reduction in the Rogue production, Renault Samsung badly needs to secure export volume for the XM3 compact SUV, but the company is still in talks with its parent company Renault, and no decision has been made yet.
Hyundai’s Czech plant set to restart after coronavirus halt
The car industry is central to the Czech economy and its closure since mid-March has had knock-on effects for the many companies that supply it.
Visteon Takes Action to Address COVID-19 Impact
Company reducing operational costs in response to lower industry volumes Financial guidance withdrawn due to impact of global pandemic Company donates face shields to help protect front-line medical care givers treating COVID-19 patientsVAN BUREN TOWNSHIP, Mich., April 09, 2020 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC) today outlined various actions it is taking in response to the… Continue reading Visteon Takes Action to Address COVID-19 Impact
Groupe Renault:COMMUNICATION OF RENAULT’S BOARD OF DIRECTORS 9th April 2020
PRESS RELEASE COMMUNICATION OF RENAULT’S BOARD OF DIRECTORSAnnual General Meeting of Shareholders to take place on June 19, 2020Cancellation of the dividend for the 2019 financial year25% reduction in compensation for the Chairman and interim CEO25% reduction in Directors’ 2020 attendance feesBoulogne-Billancourt, April 9, 2020 – Renault’s Board of Directors, meeting today under the chairmanship… Continue reading Groupe Renault:COMMUNICATION OF RENAULT’S BOARD OF DIRECTORS 9th April 2020
Nissan Seeks $4.6 Billion Credit Line After Coronavirus Hit: Sources
Nissan Motor has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, two people with knowledge of the matter told Reuters on Thursday.Like other automakers, Nissan has been hard hit as the pandemic decimates demand and disrupts production, but the Japanese automaker is more vulnerable than others.