“Porsche is looking to enhance its scope as a sports car manufacturer by becoming a leading brand for premium mobility. In the longer term, this could mean moving into the third dimension of travel,” says Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. “We are combining the strengths… Continue reading Porsche and Boeing to Partner on Premium Urban Air Mobility Market
Category: Newswire
Geely and Volvo Cars to merge engine operations
Combined they have 8,000 people working on combustion engine operations including research and development, procurement, manufacturing, IT and finance functions.Geely and Volvo already have some joint ventures, including the Lynk & Co brand and a technology company, both of which were established in the second half of 2017.Polestar, an electrified performance vehicle brand jointly owned by Volvo and Geely, has also started production of its models in China.
Porsche will get €2 million for its project in Slovakia
A new investment will be made in Piešťany, western Slovakia.The government has approved an incentive of €2 million for Porsche, the TASR newswire reported.In the new centre, the company will develop and verify the manufacturability of components and prepare prototypes of production equipment for the car industry.
GM Talks Hit Snag as Union Seeks Products for UAW Factories
Talks between General Motors and the United Auto Workers union hit a snag Tuesday over what the union says is a lack of commitment by GM to build new vehicles in U.S. factories.
Renault Mulls Bigger Electric Car to Compete Against Tesla’s Model 3
Renault SA is rushing to keep up with rivals to tap growing demand for electric cars in Europe with new models — possibly with the help of Nissan Motor Co.
Hyundai to start local production from January
Hyundai Nishat Motors Private Ltd (HNMPL) will start local assembly of Porter H100 pickup with 20 per cent indigenisation from January next year, the company announced on Tuesday.HNMPL – a joint venture company between Nishat Group, Sojitz Corporation (Japan) and Millat Tractors Limited – is partnering with Hyundai Motor Company (Korea) to become a leading manufacturer, marketer and distributor of automobiles in the country.Talking about the uncertain rupee-dollar parity, he recalled that it has changed the project feasibility.
Renault to start search for new CEO – Le Figaro
PARIS, Oct 8 (Reuters) – The chairman of the French carmaker Renault will propose to its board of directors to find a successor to current Chief Executive Thierry Bollore, business daily Le Figaro reported on Tuesday, citing sources.
According to the report, the succession proposal could be on the agenda of the next board meeting on Oct. 18.
Renault did not immediately respond to requests for comment.
The French state owns a 15 percent stake in Renault. A spokesman for the finance ministry declined to comment.
Nissan Motor Co on Tuesday named a new chief executive known for close ties to Renault, its top shareholder in a bid to turn a page after a management scandal involving Carlos Ghosn.
Nio, the Tesla of China, surges after reporting strong vehicle deliveries for Q3
Nio, known as the Tesla of China, is gaining after reporting solid vehicle delivery numbers for the third quarter.In September, the company delivered 2,019 vehicles.Nio has been struggling amidst declining electric vehicle sales in China.
Nissan names executive Uchida as next CEO, Gupta as COO
TOKYO/PARIS, Oct 8 (Reuters) – The board of Nissan Motor Co has picked Senior Vice President Makoto Uchida as its next chief executive and Ashwani Gupta as its chief operating officer, two sources said on Tuesday, following a board meeting of the scandal-hit automaker.
Directors at Nissan, including those from top shareholder Renault SA, voted unanimously in favour of the two executives, one of the sources said. Both of the sources spoke on condition of anonymity.
No one was immediately available for comment at Nissan. The automaker was due to hold a news conference at 1130 GMT.
The decision, earlier reported by the Nikkei newspaper, comes after months of turmoil at Japan's second-largest automaker following the downfall of former Chairman Carlos Ghosn last year and the departure of former CEO Hiroto Saikawa last month.
Ghosn is awaiting trial in Tokyo on financial misconduct charges that he denies.
Saikawa was forced to step down after he admitted to being improperly overpaid.
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GM furloughs mount to 60,000 after Mexican shutdown
…profit pick-up & SUV plants with [greater than] 100% utilisation,” he wrote in a note earlier this month. GM made about 2.95m vehicles in the US last year. Last week, car sales data for Detroit’s big…