/Update/
MOSCOW, May 3. /TASS/. Russian automakers will be 100% loaded with public transport production in 2020, Minister of Industry and Trade Denis Manturov said on Sunday in an interview with the Rossiya-24 TV Channel.
“I can confidently state that the utilization will be 100% in 2020, particularly for the public transport, for buses of different classes,” the Minister said. “This is a helping hand and concurrently the support for the automotive industry and the upgrade of the public transport for regions,” Manturov noted.
Automobile producers will also deal with manufacturing of ambulance cars and reanimobiles, the Minister said. “Speaking about reanimobiles, there will be about 1,400 units. We already have experience of implementing such tasks in prior years. These are centralized supplies,” Manturov said.
Category: Newswire
Cummins Increases Revolver Capacity by $2 Billion
COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today entered into an agreement providing for an additional $2 billion revolving credit facility that terminates on April 30, 2021. “The company ended the first quarter with cash, cash equivalents and marketable securities of $2 billion and committed borrowing capacity of $1.9 billion,” said Chief Financial Officer Mark Smith.… Continue reading Cummins Increases Revolver Capacity by $2 Billion
Ford Romania to gradually resume production next week
The Romanian unit of U.S. auto maker Ford Motor Company has said on Tuesday that its plant in Craiova, southwestern Romania, will gradually resume production, starting May 4, SeeNews reports.Other non-production employees who can work from home will continue to do so for the present time, including those employees on short-time working arrangements.
Visteon Announces First-Quarter 2020 Results
Net sales of $643 millionNet loss of $35 million, including $33 million of restructuring chargesAdjusted EBITDA of $33 millionAwarded $800 million in new businessAvailable cash of $825 million; no near-term debt maturitiesVAN BUREN TOWNSHIP, Mich., April 30, 2020 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC) today announced first-quarter 2020 results, reporting net loss attributable to… Continue reading Visteon Announces First-Quarter 2020 Results
Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform
HERZLIYA, ISRAEL, April 30, 2020 (GLOBE NEWSWIRE) — Otonomo, the leading automotive data services platform, today announced $46 million in series C funding. The round includes investments from SK Holdings, Avis Budget Group, and Alliance Ventures as well as participation from existing investors such as Bessemer Venture Partners. This round brings the company’s total funding… Continue reading Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform
Nidec Announces Financial Results for Fiscal Year Ended March 31, 2020
KYOTO, Japan, April 30, 2020 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2020.The highlights are as follows:Net sales up 4% Y/Y to a record 1,535 billion yen.Operating profit down 15% Y/Y to… Continue reading Nidec Announces Financial Results for Fiscal Year Ended March 31, 2020
Ferrari starts the “Installation Lap” phase, courses on new safety regulations.
Training and serological tests before production resumes and gradually ramps up from 4 May.Maranello, 30 April 2020 – Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/MTA: RACE) has launched the “Installation Lap” phase, safety training primarily for employees involved in the resumption of production from Monday 4 May.The Company has dedicated several days to this crucial… Continue reading Ferrari starts the “Installation Lap” phase, courses on new safety regulations.
Bollinger Motors Unveils World’s First Class 3 Electric Commercial Truck Platform
“The Bollinger B2 Chassis Cab’s unique features – including the 5,000-lb. payload and large energy source to power tools – make it perfect for businesses, small and large,” says CEO Robert Bollinger. “Commercial fleets will be able to reduce their overall cost of operation while buying a truck designed, engineered, and built in the USA.… Continue reading Bollinger Motors Unveils World’s First Class 3 Electric Commercial Truck Platform
Michelin: In the first quarter of 2020, at a time of systemic crisis due to COVID-19, Michelin saw an 8.3% decline in sales and deployed the measures needed to attenuate the impact of the crisis on employee health and the Group’s business.
Press ReleaseClermont-Ferrand, France – Wednesday, April 29, 2020COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELINFinancial information for the three months ended March 31, 2020In the first quarter of 2020, at a time of systemic crisis due to COVID 19, Michelin saw an 8.3% decline in sales and deployed the measures needed to attenuate the impact of the crisis… Continue reading Michelin: In the first quarter of 2020, at a time of systemic crisis due to COVID-19, Michelin saw an 8.3% decline in sales and deployed the measures needed to attenuate the impact of the crisis on employee health and the Group’s business.
rideOS Selected by Alto to Scale Its On-Demand Multi-Service Mobility Business
SAN FRANCISCO, April 28, 2020 /PRNewswire/ — rideOS, a leading Mobility as a Service technology provider that empowers businesses to build, operate and scale on-demand transportation offerings, today announced that Alto is utilizing the rideOS platform to manage its elevated rideshare service and accelerate its entry into last-mile delivery. Alto is now taking full-advantage of rideOS’… Continue reading rideOS Selected by Alto to Scale Its On-Demand Multi-Service Mobility Business