Tag: Strategy

Autoliv Takes Measures to Mitigate the Potential Effects of the Corona Virus (COVID-19) Pandemic and Draws $500M From Credit

STOCKHOLM, March 19, 2020 /PRNewswire/ — Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), the worldwide leader in vehicle safety systems, today announced that the coronavirus (COVID-19) outbreak will likely lead to a negative effect on the Company’s operations due to how the outbreak is affecting the automotive industry in general. The extent of such negative impact remains to… Continue reading Autoliv Takes Measures to Mitigate the Potential Effects of the Corona Virus (COVID-19) Pandemic and Draws $500M From Credit

Honda, Audi plants in Mexico suspend operations amid pandemic

MEXICO CITY, March 18 (Xinhua) — Japanese Honda and German Audi automobiles said Wednesday they were temporarily suspending production in their plants in Mexico due to a lack of inputs and a weak demand for vehicles amid the COVID-19 pandemic.
Honda said it will idle its plant in central Guanajuato state from March 23 to 31, as part of a larger company strategy that has also affected plants in Canada and the United States.
The measure will cut North American regional output by some 40,000 vehicles, the company said in a statement.
“Approximately 27,600 Honda partners in North America” will be affected by this temporary suspension, it said.
Audi, which opened a plant in Mexico in 2016, said it will halt production from March 23 to April 13 because of a lack of inputs, a problem that has also impacted its plants in Germany, Belgium and Hungary.
The company said its plant in Mexico's central Puebla state lacks parts and materials for the Audi Q5, and has also experienced delays in t..

Kenneth R. Trammell returns to Tenneco as Interim Chief Financial Officer

LAKE FOREST, Ill., March 18, 2020 /PRNewswire/ — Tenneco Inc. (NYSE: TEN) today announced that Kenneth R. Trammell has been appointed to the role of interim Chief Financial Officer, effective April 1, 2020. Mr. Trammell’s appointment follows Jason Hollar’s decision to leave the role of Executive Vice President and Chief Financial Officer in order to… Continue reading Kenneth R. Trammell returns to Tenneco as Interim Chief Financial Officer

@McLaren: Luxury automotive, motorsport and technology company McLaren Group has raised additional equity to support its long-term strategy. The Group has also confirmed Paul Walsh as Executive Chairman

Luxury automotive, motorsport and technology company McLaren Group has raised additional equity to support its long-term strategy. The Group has also confirmed Paul Walsh as Executive Chairman. The existing, long-standing shareholders have provided £300m of equity to support the group and McLaren’s commitment to the brand’s strategy. Paul Walsh brings a wealth of business experience… Continue reading @McLaren: Luxury automotive, motorsport and technology company McLaren Group has raised additional equity to support its long-term strategy. The Group has also confirmed Paul Walsh as Executive Chairman

@VW Group: Volkswagen brand about to leap into the electric era

The Volkswagen Passenger Cars brand is entering the next phase of its transformation stronger. In a declining overall market, in the past year the Volkswagen Group’s core brand achieved a new delivery record of 6.3 million units, thus delivering more vehicles than ever before. In all key markets, Volkswagen was able to gain market share.… Continue reading @VW Group: Volkswagen brand about to leap into the electric era

U.S. mobility startups feel the chill from the COVID-19 crisis

(Reuters) – U.S. startup companies focused on transportation technology could be among the casualties of COVID-19, according to venture investors who say new funding and investment exits are drying up as the economic outlook darkens. FILE PHOTO: A woman walks past electric Lime scooters parked on the sidewalk in downtown Los Angeles, California, U.S., October… Continue reading U.S. mobility startups feel the chill from the COVID-19 crisis

Toyota taps startup Momenta to build HD road maps in China

HONG KONG — Toyota Motor has teamed up with Chinese autonomous driving startup Momenta to commercialize its high-definition mapping system in China. This is the second partnership Toyota has made with a China-based autonomous driving startup within the past 30 days. Last month, the Japanese carmaker led fundraising for Pony.ai with a $400 million investment.… Continue reading Toyota taps startup Momenta to build HD road maps in China

(LEAD) Hyundai Mobis shareholders OK heir apparent as executive director

(ATTN: CHANGES photo; ADDS details and background throughout) SEOUL, March 18 (Yonhap) — Shareholders of Hyundai Mobis Co., South Korea’s biggest auto parts maker and a key affiliate of Hyundai Motor Group, on Wednesday approved the reappoinment of the group’s heir apparent to the company’s board to push forward his future mobility initiative. In a… Continue reading (LEAD) Hyundai Mobis shareholders OK heir apparent as executive director

Grab Collaborates with IMDA to pilot Grab Ventures Ignite in Singapore

Singapore, 17 March 2020 — Grab, Southeast Asia’s leading super app, and the Infocomm Media Development Authority (IMDA) today announced a partnership to pilot Grab Ventures Ignite (GVI), a 14-week accelerator programme, for Singapore-based startups with interest to venture overseas. The Singapore pilot of GVI will focus on high potential startups with an aspiration to… Continue reading Grab Collaborates with IMDA to pilot Grab Ventures Ignite in Singapore