Category: Newswire

Automakers plan to restart factories in early May. UAW says not so fast

Olkswagen, Toyota, Hyundai and Fiat Chrysler are preparing to restart production at factories in the US that have been shut down due to the coronavirus pandemic come early May.The union represents factory workers at US-based automakers, GM, Ford and Fiat Chrysler (FCAU).The UAW is still in talks with GM, Ford and Fiat Chrysler over the safest way to reopen factories.

Audi Hungaria, union reps reach agreement on jobs

The management of German carmaker Audiʼs Hungarian unit has reached an agreement with union representatives on converting “a certain part” of benefits to additional leave in the interest of mitigating the impact of a shutdown because of the pandemic and preserving jobs, Audi Hungaria communications director Mónika Czechmeister told state news wire MTI.In these challenging times, bbj.hu is committed to providing you with up-to-date and accurate information.Breaking news and other stories will be added throughout the day Monday-through-Friday. More sourcesAudi Hungaria, union reps reach agreement preserving jobs (Budapest Business Journal: Apr 24, 2020 at 12:00 PM)

Slovenian car battery maker TAB plans layoffs

Slovenian car battery manufacturer Tovarna Akumulatorskih Baterij (TAB) plans to lay off 23 workers as part of measures to fight the impact of the coronavirus pandemic.In July 2019, local media reported that TAB had decided to stop looking for a strategic partner and to continue its operations as an independent entity.

Neutrino Energy: An Ideal Power Source for Self-Driving Taxis

BERLIN, April 24, 2020 /PRNewswire/ — Neutrino Energy Group founder Holger Thorsten Schubart proposes that Neutrino Energy could power electric cars. Recently, self-driving taxi service Cruise announced that its all-electric fleet of cars will now run on renewable energy. Even in Southern California, however, there isn’t enough sunshine to power the self-driving taxi fleets of the future with… Continue reading Neutrino Energy: An Ideal Power Source for Self-Driving Taxis

Valmet’s co-determination negotiations for temporary layoffs are completed

Valmet Oyj’s stock exchange release on April 24, 2020 at 13:00 p.m. EETValmet announced on April 21, 2020 the start of co-determination negotiations for temporary lay-offs in Finland. The negotiations were started due to financial and production related reasons, especially because of the reducing workload in the services business done close to customers and in… Continue reading Valmet’s co-determination negotiations for temporary layoffs are completed

AutoLiv: Financial Report January – March 2020

STOCKHOLM, April 24, 2020 /PRNewswire/ —  Q1 2020: Perhaps, the end of the beginning Financial highlights Q1 2020 $1,846m net sales 13% organic sales decline* 7.3% operating margin 7.4% adj. operating margin* $0.86 EPS – a decrease of 32% $0.88 adj. EPS* – a decrease of 27% Full year 2020 indications No indications will be provided until effects of… Continue reading AutoLiv: Financial Report January – March 2020

Volkswagen restarts production in Germany after coronavirus shutdown

BERLIN, April 23 (Xinhua) — After around five weeks of shutdown due to the coronavirus crisis, Germany's largest car manufacturer Volkswagen restarted production in two of its plants on Thursday.
Volkswagen's vehicle plant in Zwickau, Saxony would “cautiously resume” production of its all-electric model ID.3, according to the company.
“We all have a historic task to accomplish,” said Thomas Ulbrich, Volkswagen brand board member for e-mobility. “That task is to protect the health of our employees and at the same time get business back on track responsibly.”
Volkswagen announced that with an initial production of 50 vehicles per day, operations were restarted “at reduced speed.” Before COVID-19, production volumes at the plant had been around three times as high.
To ensure the health of its employees, Volkswagen introduced new rules at the workplace, such as an obligation to wear mouth and nose protection when keeping the minimum distance of 1.5 meters between employees was n..

Ford engineers are working on electric Mustang SUVs in their own garages

Hen Aleyna Kapur started working from home due to the coronavirus pandemic, she had to take a few things from the office: her laptop, some cables and a Ford Mustang Mach-E electric SUV.The Mach-E is the first Ford model designed and engineered purely as an electric vehicle.The engineers and designers are working on what they can do from home.

Veoneer: Financial Report January – March 2020

STOCKHOLM, April 24, 2020 /PRNewswire/ — Financial Summary – Q1’20 Underlying financial results better than expected, due to our Market Adjustment Initiatives (MAI) Net Sales $362 million Net Sales decline 27% including Organic Sales1 decline 15%, 9pp better than the global LVP Active Safety Net Sales decline 15% including Organic Sales decline of 13% Operating… Continue reading Veoneer: Financial Report January – March 2020