WUHAN, China, Sept. 30, 2019 /PRNewswire/ — China Automotive Systems, Inc. (Nasdaq: CAAS) (“CAAS” or the “Company”), a leading power steering components and systems supplier in China, today announced it has entered into a new supply contract with SAIC Maxus, an SUV and commercial vehicle subsidiary of SAIC Motor (formerly Shanghai Automotive Industry Corporation). SAIC is one of… Continue reading China Automotive Systems signs new contract with SAIC Maxus
Tag: Financial Results
GM and UAW union to continue talks on new labor deal
FILE PHOTO: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio (Reuters) – General Motors Co and United Auto Workers (UAW) said they will continue talks on a new labor deal on Monday, as a strike by the union’s members enters its third… Continue reading GM and UAW union to continue talks on new labor deal
Work, record prizes at Ferrari For employees up to 13 thousand euros
“The extraordinary agreement reached in Ferrari represents a great result in terms of industrial relations and certifies that Ferrari is a champion inside the track and inside the company, a modality that should represent the patrimony of the whole Fca Group”, comments the general secretary of Fim Cisl, Marco Bentivogli. Industrial relations The new competitiveness… Continue reading Work, record prizes at Ferrari For employees up to 13 thousand euros
India: WhistleDrive raises $10m Series B funding from Colosseum
Hyderabad-based WhistleDrive said on Thursday that it has raised ₹72 crore from Chicago-based Colosseum Group under its Series B round of funding. The company, which provides technology-enabled fleet services to corporates, now plans to enter two new cities to add to the three where it currently operates. Rakesh Munnanooru, founder and chief executive, WhistleDrive, said… Continue reading India: WhistleDrive raises $10m Series B funding from Colosseum
Hyundai Motor Company and Cummins to Collaborate on Hydrogen Fuel Cell Technology
COLUMBUS, Ind. & SEOUL, Korea–(BUSINESS WIRE)–Hyundai Motor Company and Cummins Inc. (NYSE: CMI), announced today that the two global powertrain leaders have entered into a memorandum of understanding (MOU) to jointly evaluate opportunities to develop and commercialize electric and fuel cell powertrains. These new powertrains are expected to be developed by combining Hyundai’s fuel cell… Continue reading Hyundai Motor Company and Cummins to Collaborate on Hydrogen Fuel Cell Technology
Ford draws 322,000 cars in Europe at risk of battery fire
SAFETY 25 September 2019 1 ‘of reading Ford draws about 322,000 cars in Europe whose batteries could ignite due to acid leaks. The recall concerns Mondeo, SMax and Galaxy built between February 2014 and February 2019. Ford has stated that the loss of acid from the battery around the negative pole could cause failure of… Continue reading Ford draws 322,000 cars in Europe at risk of battery fire
Nio raising more cash amid cost-cutting campaign
BEIJING (Reuters) – Nio Inc, one of China’s high-profile electric car startups, disclosed a fresh money-raising push this week, saying it had issued $200 million worth of bonds and was accelerating cost-cutting programs to slow cash burn as the company seeks to attract more investors in a slumping market. FILE PHOTO: Chinese electric vehicle start-up… Continue reading Nio raising more cash amid cost-cutting campaign
Nio aims to control cash burn with smaller showrooms, leaner staff
BEIJING (Reuters) – China’s loss-making Tesla wannabe Nio Inc will expand its sales network with smaller showrooms, slash its workforce and spin off some business units, company executives said on Wednesday, in a move to control massive cash burn amid slowing electric vehicle sales in the world’s largest auto market. Chinese electric vehicle start-up Nio… Continue reading Nio aims to control cash burn with smaller showrooms, leaner staff
MaxAB raises $6M seed round to optimize Egypt’s B2B grocery markets
Cairo based startup MaxAB looks to optimize the supply-chain network for Egypt’s food and grocery retailers. The B2B e-commerce company raised a $6.2 million seed-investment co-led by Beco Capital and 4DX Ventures. Others co-leaders included 500 Startups, Endure Capital, and Outlierz Ventures. Founded in 2018, MaxAB has built a digital platform to manage procurement and… Continue reading MaxAB raises $6M seed round to optimize Egypt’s B2B grocery markets
Exclusive: GM and UAW union making progress in talks for new labor deal – sources
DETROIT (Reuters) – General Motors Co (GM.N) and the union that represents its 48,000 striking hourly workers in the United States have made progress in talks toward a new deal but are grappling with the pay and job security of newer and temporary workers, two people familiar with the talks said on Wednesday. FILE PHOTO:… Continue reading Exclusive: GM and UAW union making progress in talks for new labor deal – sources