Tag: FCA

Italy’s credit agency SACE approves state guarantees for FCA $7 billion bank loan: source

FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S., May 25, 2018. REUTERS/Rebecca Cook MILAN (Reuters) – The board of Italy’s export credit agency SACE has approved state guarantees covering 80% of a 6.3 billion euro ($7 billion) bank loan for Fiat Chrysler (FCHA.MI) (FCAU.N),… Continue reading Italy’s credit agency SACE approves state guarantees for FCA $7 billion bank loan: source

GM, Ford turn to fast-payment programs to aid suppliers hit by shutdowns

DETROIT (Reuters) – General Motors Co (GM.N) and Ford Motor Co (F.N) are using fast-payment programs set up with financial lenders to help cash-strapped small suppliers survive production shutdowns caused by the coronavirus pandemic. FILE PHOTO: A partially assembled V6 engine, used in a variety of General Motors cars, trucks and crossovers, moves down the… Continue reading GM, Ford turn to fast-payment programs to aid suppliers hit by shutdowns

Electric vans: anyone who wants to inherit the street scooter

Italians under power Among the large van models, there is the Fiat Ducato in an E variant. Cologne E-commerce is booming and the streets are full of vans. That was already the case before Corona and has intensified significantly with the pandemic. But as easy as that is for the customers, the development is also… Continue reading Electric vans: anyone who wants to inherit the street scooter

@Ferrari: Ferrari Announces Settlement of its Notes offering

Maranello (Italy), 27 May 2020 – Ferrari N.V. (NYSE/MTA: RACE) announces the settlement of the offering, previously announced, of Euro 650 million in aggregate principal amount of 1.500% notes due in May 2025, with an issue price of 98.898% (the “Notes”). The net proceeds of the offering were approximately Euro 641 million after payment of… Continue reading @Ferrari: Ferrari Announces Settlement of its Notes offering

Ferrari Announces Settlement of its Notes offering  

Maranello (Italy), 27 May 2020 – Ferrari N.V. (NYSE/MTA: RACE) announces the settlement of the offering, previously announced, of Euro 650 million in aggregate principal amount of 1.500% notes due in May 2025, with an issue price of 98.898% (the “Notes”). The net proceeds of the offering were approximately Euro 641 million after payment of… Continue reading Ferrari Announces Settlement of its Notes offering  

Aston Martin underlines the tricky part of the Treasury’s rescue effort | Nils Pratley

T he last lap of Andy Palmer’s reign as chief executive of Aston Martin was the cruellest. As he lost his job, the share price rose 28%. The market’s implied judgment was harsh but fair: a new driver was desperately needed to give credibility to Aston Martin’s latest pitch about corporate turnaround. Palmer, said his… Continue reading Aston Martin underlines the tricky part of the Treasury’s rescue effort | Nils Pratley

Auto parts maker Marelli secures $1.2 bln financing to withstand crisis

MILAN (Reuters) – Auto parts maker Marelli said on Wednesday it had secured additional capital and loans worth 130 billion yen ($1.2 billion) from top shareholder U.S. investment firm KKR (KKR.N) and Japanese banks. The COVID-19 epidemic has forced most manufacturers to temporarily halt production and almost erased car demand in March and April, leaving… Continue reading Auto parts maker Marelli secures $1.2 bln financing to withstand crisis

Ola Electric acquires Etergo, to launch own line of electric two wheelers this year

Ola Electric, the EV business that spun out of the ride-hailing giant Ola last year, has acquired an Amsterdam-based electric scooter startup as the Indian firm looks to locally produce and launch its own line of two wheelers as soon as this year. The Indian firm said Wednesday it had acquired Etergo, a Dutch firm… Continue reading Ola Electric acquires Etergo, to launch own line of electric two wheelers this year

McLaren in crisis cuts a quarter of jobs

car The cancellation of motoring events, the suspension of production and retail activities all over the world and the reduction in the demand for technological solutions have damaged the group’s sources of revenue activities (AFP) The cancellation of motoring events, the suspension of production and retail activities all over the world and the reduction in… Continue reading McLaren in crisis cuts a quarter of jobs