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
Category: Newswire
Vietnam-based Hyundai, Honda plants close amid nationwide lockdown
Vietnam-based Hyundai (KS:005380) assembler TC Motor and Honda (T:7267) Vietnam have shut down their plants for two weeks amid a nationwide social distancing campaign to curb the spread of the coronavirus, the companies said on Wednesday.
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.
BMW Taps German Debt Market as Coronavirus Batters Auto Industry
Bayerische Motoren Werke AG sold a 200 million-euro ($220 million) deal in the German Schuldschein debt market even as coronavirus upheavals weigh on the global auto industry.
Ford delays manufacturing restart indefinitely, but will build ventilators for coronavirus fight
Get all the latest news on coronavirus and more delivered daily to your inbox.Ford will delay the reopening of its North American manufacturing facilities indefinitely due to the coronavirus pandemic.Approximately 500 paid-volunteer members of the UAW will work at the facility.
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…
Aston Martin May Need More Cash Even After Bailout by Billionaire
Aston Martin Lagonda Global Holdings Plc said it may need to tap into high-interest notes it was trying to avoid drawing down, even after a 536 milion-pound ($663 million) capital infusion from a group led by billionaire Lawrence Stroll.
France’s Renault puts Paris white collar staff on partial unemployment
PARIS, March 30 (Reuters) – French carmaker Renault put most of its white collar staff in the Ile-de-France region around Paris on partial unemployment on Monday as the lockdown imposed due to the coronavirus outbreak lowered activity.
The company will use the scheme that French government has set up to fight the economic crisis caused by the pandemic.
Under the scheme, Paris has pledged to reimburse companies so that workers placed on partial unemployment can still get most of their salary.
“After a two-week stoppage of industrial and commercial activity, it is necessary to adapt the working hours of employees”, a Renault spokeswoman told Reuters.
From Monday and until further notice, Renault white collar staff will work from home in the morning and will be on partial unemployment in the afternoon.
Only a few people will keep their full-time jobs to ensure key activities such as security, maintenance and communication.
The partial unemployment measure in the region of Paris will affec..
GROUPE RENAULT : Status on tplant closures as of March 30, 2020
COMMUNIQUÉBoulogne -Billancourt, March 30, 2020Groupe Renault informs that, due to the impact of the COVID-19 sanitary crisis, all the Group’s plants are now halted, with the exception of plants in China and South Korea, which are either back in operation or in the process of resuming production.The Group plans to restart production activities in the… Continue reading GROUPE RENAULT : Status on tplant closures as of March 30, 2020