Category: Newswire

Ferrari N.V.: Termination of the third tranche of the disclosed multi-year share repurchase program

Maranello (Italy), 01 April 2020 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that under the third tranche of the common share buyback program announced on 14 November 2019 (“Third Tranche”), the Company has purchased additional common shares – reported in aggregate form, on a daily basis – on the Italian Stock Exchange… Continue reading Ferrari N.V.: Termination of the third tranche of the disclosed multi-year share repurchase program

Toyoda Gosei to Restructure Production Subsidiaries in India for “TG One India”

KIYOSU, Japan–(BUSINESS WIRE)–Toyoda Gosei Co., Ltd. (TOKYO: 7282) will restructure its production subsidiaries in India to optimize its production network in that country. The company will transfer its all shares in Toyoda Gosei South India Pvt. Ltd. (TGSIN) to Toyoda Gosei Minda India Pvt. Ltd. (TGMIN) in 2020. TGSIN supplies interiors and exteriors and other… Continue reading Toyoda Gosei to Restructure Production Subsidiaries in India for “TG One India”

Veoneer and Volvo Cars to Split Joint Venture to Pursue Separate ADAS and Autonomous Driving Strategies

STOCKHOLM, Sweden, April 2 , 2020 /PRNewswire/ — The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), have following a strategic review, entered into a non-binding agreement with Volvo Cars to split their 50/50 joint venture Zenuity.   The parties have agreed in principle that Veoneer will integrate and operate the current… Continue reading Veoneer and Volvo Cars to Split Joint Venture to Pursue Separate ADAS and Autonomous Driving Strategies

Nidec to acquire the Delta production line from Secop Austria

KYOTO, Japan, April 01, 2020 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that the Company has signed a definitive agreement with Secop Austria GmbH (“Secop”) on March 31, 2020, by which Nidec will acquire the Delta production line from Secop (“the Transaction”) through the Company’s sub-subsidiary… Continue reading Nidec to acquire the Delta production line from Secop Austria

Jaguar’s first-ever XJ electric sedan spotted testing

After a production run of almost 5 decades, Jaguar Land Rover pulled the plug on the XJ sedan in 2019 and now after almost a year, the brand’s latest electric XJ has seen the light and is out in the open testing.Now, not much is known at this point of time about the electric XJ, but we do know that the electric sedan will be based on Jaguar Land Rover’s electrified MLA platform built for EVs, hybrids, and plug-in hybrids that will be part of JLR’s portfolio by 2025.The front is slightly similar to the XF sedan with the wide fenders in the front, while the rear sports the traditional horizontal lights as opposed to the vertical lights from the erstwhile conventional version.

Automaker Toyota suspends vehicle production in Vietnam due to COVID-19 epidemic

HANOI, March 31 (Xinhua) — Toyota Motor Vietnam (TMV) has temporarily suspended vehicle production in order to prevent the COVID-19 outbreak from spreading, Vietnam News Agency reported.
The outbreak has impacted all aspects of business, from economy to society, including the automobile industry, and Toyota dealers in the capital city of Hanoi have temporarily closed showrooms and workshops, the news agency cited Toyota as reporting.
Production resumption will depend on the outbreak situation, market demand, supply chain situation, stocks and the country government's restriction regulations, the news agency reported.
TMV is the second automaker in Vietnam to announce operation suspension due to the impacts of COVID-19. The first was Ford Vietnam which suspended operations at its factory in the northern province of Hai Duong.

Valmet Automotive Annual Review 2019: Successful entry into battery business, significant improvement in EBITDA and cash flow despite challenging envi…

Valmet Automotive’s EBITDA and cash flow improved significantly from the previous year, operating profitability slightly and the annual car production of 114,000 vehicles reached again a record volume. Sales of EUR 651.5 million, EBITDA significantly improved Valmet Automotive’s net sales in 2019 were EUR 651.5 million (662.6 in 2018), which was 2 % lower than in… Continue reading Valmet Automotive Annual Review 2019: Successful entry into battery business, significant improvement in EBITDA and cash flow despite challenging envi…