Category: Newswire

Avtovaz does not plan to change production plans due to coronavirus outbreak

MOSCOW, February 26. /TASS/. Avtovaz has no plans to revise its production plan because of the outbreak of pneumonia in China, caused by the new coronavirus. The crisis response center of the company keeps an eye on the situation, press service of the Russia's largest automaker told TASS on Wednesday.
“The plant does not have such plans at present. The center is assessing potential risks and working out scenarios for their resolution in cooperation with suppliers. We monitor developments and work in line with the schedule,” the press service said.
The company has a sufficient inventory of required components produced in China, Avtovaz said earlier.
Avtovaz is the largest carmaker in Russia, operating as part of the Renault-Nissan-Mitsubishi alliance. Company's sales grew by 1% to 362,356 vehicles in 2019.

Ford recalls over 217,000 F-150 pickup for headlight problem

CHICAGO, Feb. 25 (Xinhua) — U.S. automaker Ford Motor Company on Tuesday issued a safety recall of select Ford F-150 pickup for a headlight problem, affecting over 217,000 vehicles.
According to Ford, the recall covers select 2018-2020 F-150 trucks with LED headlamps.
This action affects 166,196 vehicles in the U.S. and federal territories and 50,989 in Canada.
Affected vehicles were built at Dearborn Truck Plant, Jan. 5, 2017, to Oct. 10, 2019, and Kansas City Assembly Plant, Jan. 25, 2017, to Oct. 10, 2019.
“When the daytime running maps on affected vehicles are illuminated and the master lighting switch is manually rotated from the autolamp position to the headlamp-on (low-beam) position, the daytime running lamps remain activated instead of dimming to the parking lamp intensity,” the company said in a statement.
According to Ford, this may reduce the visibility of other drivers, increasing the risk of a crash.
Ford said it is not aware of any reports of accident or injury, and dea..

Nio, the Tesla of China, surges 35% after confirming talks for $1.4 billion in government funding

One of Tesla’s main competitors in China is a step closer to securing funding for additional plants in the region.Under the preliminary agreement, the Hefei government expects to provide resources and funding support for the long-term growth of Nio in the city, the capital of the Anhui province, according to a press release.Nio will provide additional details in the next two months, Reuters reported.

Valmet has published the Annual Report and the Corporate Governance Statement for 2019

Valmet Oyj’s stock exchange release on February 25, 2020 at 11:00 a.m. EETValmet has today, on February 25, 2020, published its Annual Report for 2019 on the company’s website at www.valmet.com/annualreport2019. The Annual Report consists of three separate parts: the Annual Review, the Financial Statements and the GRI Supplement. The GRI Supplement is available in… Continue reading Valmet has published the Annual Report and the Corporate Governance Statement for 2019

Nio to get 10b investment from Hefei

Chinese electric car startup Nio Inc is expected to get strategic investment of over 10 billion yuan ($1.43 billion) from the Hefei city government in Anhui province.As part of the deal, Nio will establish in Hefei a company in charge of its China operations, including production, research and development and sales.Nio has built a plant in Hefei with JAC Motors which is producing Nio’s ES8 and ES6 SUVs.