— Company completes refinancing of $2.0 billion U.S. revolving credit facility, extending maturity to 2025 — Announces global cost mitigation actions in response to rapidly changing business environment — Sees first quarter results significantly affected by COVID-19; volume down 18% versus last year — Temporarily suspends quarterly dividend, reduces 2020 capital expenditures to further enhance… Continue reading Goodyear Provides Preliminary First Quarter Results, Business UpdateApr 16, 2020AKRON, Ohio, April 16, 2020 – The Goodyear Tire & Rubber Company today…
Tag: Strategy
Bharat Forge sees itself benefitting from supplier restructuring amid Covid crisis
The ongoing pandemic of Covid19, it seems, has come as an opportunity for Bharat Forge. Part of the $ 3 billion Kalyani Group, Bharat Forge envisages some strategic structural changes in the automotive supply chain in a post -Covid19 world, where OEMs, in order to mitigate uncertainties, will be looking forward to diversifying their component… Continue reading Bharat Forge sees itself benefitting from supplier restructuring amid Covid crisis
Nissan licenses li-ion battery tech to APB Corporation to allow for low-cost mass-production
Japanese-carmaker Nissan has licensed its advanced technology to APB Corporation that will allow mass production of lower-cost, safer lithium-ion batteries with increased charging capacity. Tokyo-based APB is backed by investment from major companies and plans to build a factory in Japan that will use Nissan’s technology to make all-polymer batteries for storage use. Nissan says… Continue reading Nissan licenses li-ion battery tech to APB Corporation to allow for low-cost mass-production
@Ford: Ford Announces Changes to Automotive Operations to Further Accelerate Transformation Plan
Company taking series of actions to better serve customers, streamline decision-making and increase accountability Strategic organizational moves focus on accelerating a winning portfolio, commercial vehicles as a business and implementing customer facing digital experiences across platforms Data and AI play pivotal role in servicing company’s brands and customers particularly in Connected Vehicles and Enterprise Connectivity… Continue reading @Ford: Ford Announces Changes to Automotive Operations to Further Accelerate Transformation Plan
@VW Group: 15 years of Bugatti Veyron – how it all began.
In 1997, on the “Shinkansen” express train between Tokyo and Nagoya, a sketch was created that would change the automotive world. Following a discussion with the then Head of Powertrain Development at VW, Karl-Heinz Neumann, he drew on an envelope – he had had the idea for a long time – an engine with 18… Continue reading @VW Group: 15 years of Bugatti Veyron – how it all began.
@Toyota: Steadfast Confidence in Perilous Times
Amid Unprecedented Challenges, Ted Ogawa Assumes Role as Toyota Motor North America Chief When Ted Ogawa was announced as Toyota Motor North America’s (TMNA) new president and CEO earlier this year, he didn’t know he’d be stepping directly into an unprecedented crisis. But there was Ogawa on April 1 – his first day on the… Continue reading @Toyota: Steadfast Confidence in Perilous Times
First quarter 2020 results
Amsterdam, the Netherlands, 15 April 2020 7:00 AM CEST FINANCIAL SUMMARY FIRST QUARTER 2020 Group revenue decreased by 23% to €131 million (Q1 ’19: €170 million) Location Technology revenue of €91 million (Q1 ’19: €103 million) Automotive operational revenue decreased by 2% to €85 million (Q1 ’19: €87 million) Free cash flow is an inflow… Continue reading First quarter 2020 results
Magna Announces Filing of Preliminary Shelf Prospectus and Registration Statement; Amends 364-Day Syndicated Credit Facility
AURORA, Ontario, April 14, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it filed a preliminary short form base shelf prospectus (“shelf prospectus”) with the Ontario Securities Commission (the “OSC”) and a corresponding shelf registration statement with the United States Securities and Exchange Commission (the “SEC”) on Form F-10.… Continue reading Magna Announces Filing of Preliminary Shelf Prospectus and Registration Statement; Amends 364-Day Syndicated Credit Facility
G.M. Lays Out Ambitions for Electric-Vehicle Lineup to Rival Tesla
WARREN, Mich. — Over the last three months, Tesla’s stock price has more than doubled, adding tens of billions of dollars in market value, as investors have concluded that the company is poised to lead the auto industry’s transition to battery-powered vehicles. Now General Motors is trying to make the case that it isn’t far… Continue reading G.M. Lays Out Ambitions for Electric-Vehicle Lineup to Rival Tesla
Tesla (TSLA) keeps climbing as it seeks to renegotiate its rent rates
Tesla’s (TSLA) stock price keeps climbing this morning as the automaker seeks to renegotiate its rent rates based on emails sent to its landlords. As we reported yesterday, Tesla’s stock has been recovering extremely well from its drop following the broader market correction triggered by the coronavirus pandemic. Tesla’s stock is surging again today; it’s… Continue reading Tesla (TSLA) keeps climbing as it seeks to renegotiate its rent rates