Category: Newswire

Veoneer Completes Divestiture of Japan and China Operations of Brake System Joint Venture

STOCKHOLM, Feb. 3, 2020 /PRNewswire/ — Veoneer, Inc. (NYSE: VNE) (SSE: VNE SDB), the world’s largest pure-play company focused on Advanced Driving Assistance Systems and Automated Driving, has completed the sale of its 51% ownership in the Japanese (VNBJ) and Chinese (VNBZ) entities that comprise Veoneer Nissin Brake Systems (VNBS) to its joint venture partner Nissin-Kogyo… Continue reading Veoneer Completes Divestiture of Japan and China Operations of Brake System Joint Venture

Tesla workers reveal 6 surprising things customers should know about their cars

Tesla vehicles have a variety features that may be unfamiliar to customers who are used to driving gas-powered cars.Business Insider asked five current and former Tesla employees what customers should know about their cars that they might not know already.Each is either a current employee or worked for Tesla in 2019.

Hyundai Adds Three Years of Complimentary Maintenance on New Models

“Hyundai has always been a company that listens to customers and strives to provide products and services that maximize value and simplify life,” said Barry Ratzlaff, chief customer officer, Hyundai Motor America. “Building on the strong foundation of America’s Best Warranty, Hyundai Complimentary Maintenance helps dealers ensure that our owners keep rolling with peace of… Continue reading Hyundai Adds Three Years of Complimentary Maintenance on New Models

Honda decides to put off restart of Wuhan plants

TOKYO (Jiji Press) — Honda Motor Co. said Thursday that it has decided to keep its automobile plants in Wuhan, China, the epicenter of the outbreak of a new coronavirus, closed until Feb. 13.The Japanese automaker earlier planned to keep the facilities offline through next Sunday in line with th…

BMW delays next generation Mini due to Brexit uncertainty, costs

* BMW extends lifespan of its Mini platform
* Brexit uncertainty hampers ability of BMW to invest in Britain
* Mini is also produced in the Netherlands (Adds detail)
FRANKFURT, Jan 31 (Reuters) – BMW has delayed the development of its next generation Mini as it seeks to cut costs and as uncertainty over Britain's trade relations with the European Union make long-term investment decisions harder.
The German carmaker has developed three generations of the Mini since buying the marque from Rover Group in 1994, keeping each vehicle in the market for about six years.
The current Mini hatch model, which has been on the market since 2014, is built on the company's technological platform called UKL1.
“The lifespan of this platform has been extended,” BMW spokesman Maximilian Schoeberl told Reuters. “For cost reasons and because of Brexit.”
Pressure has risen on carmakers to free up resources so they can shoulder hefty investments to build next generation low emission electric, hybrid..

Mitsubishi Motors posts surprise Q3 operating loss as car sales slide

Mitsubishi Motors Corp on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and South-east Asia, as well as a stronger yen.The carmaker posted an operating loss of 6.6 billion yen (US$60.2 million) for the October-December quarter, missing an average forecast for a profit of 11.6 billion yen.Mitsubishi stuck to an earlier forecast for a 73 per cent drop in full-year operating profit to 30 billion yen in the year to March.