Renault and its alliance partners Nissan and Mitsubishi are in crisis mode and looking to scale back operations to help stem losses that were piling up well before the Covid-19 coronavirus pandemic hit. On Friday, Renault announced a major restructuring that has seen six plants placed under review and 14,600 jobs worldwide placed on the… Continue reading Alpine A110 sports car plant under review as Renault seeks cost cuts – Motor Authority
Tag: Renault
Alpine Brand’s Future Comes Into Question: Might Become EV Sports Car Maker
GROUPE RENAULT PRESENTS ITS DRAFT PLAN TO REDUCE FIXED COSTS BY MORE THAN 2 BILLION EUROS OVER THREE YEARS The objective of reducing fixed costs by more than 2 billion euros over 3 years aims to restore the Group’s competitiveness and ensure its long-term development within the framework of the Alliance. The draft plan is… Continue reading Alpine Brand’s Future Comes Into Question: Might Become EV Sports Car Maker
Nissan recovery plan seen as start of long journey by investors
TOKYO — The massive restructuring plans laid out by Nissan Motor that led to its worst loss in 20 years have not dispelled doubts among investors and analysts about whether the Japanese carmaker is now fully on the road to recovery. Nissan is likely to face more restructuring costs, and CEO Makoto Uchida will need… Continue reading Nissan recovery plan seen as start of long journey by investors
SoftBank led $500M investment in Didi in China’s biggest autonomous driving round
The race to automate vehicles on China’s roads is heating up. Didi, the Uber of China, announced on Friday an outsized investment of over $500 million in its freshly minted autonomous driving subsidiary. Leading the round — the single largest fundraising round in China’s autonomous driving sector — is its existing investor Softbank, the Japanese… Continue reading SoftBank led $500M investment in Didi in China’s biggest autonomous driving round
Renault to cut 14,600 jobs as part of €2bn cost-saving plan
Renault Restructuring by French carmaker comes as Covid-19 crisis hits manufacturing Coronavirus – latest updates See all our coronavirus coverage Employees wearing protective face masks work on a Renault assembly line in France. Photograph: Gonzalo Fuentes/Reuters The French carmaker Renault plans to cut 14,600 jobs as it aims to save €2bn (£1.8bn) in one of… Continue reading Renault to cut 14,600 jobs as part of €2bn cost-saving plan
Renault plans 17.5% production cut to save £1.8bn by 2024
Renault has laid out plans to implement 14,600 job cuts as it reduces its global vehicle production output by 17.5% in a bid to save £1.8 billion by 2024. A day after Alliance partner Nissan announced the transformation of its global manufacturing operations and an accompanying reduction in its model range, Renault revealed similar steps… Continue reading Renault plans 17.5% production cut to save £1.8bn by 2024
@Mitsubishi: Mitsubishi Motors Announces Production, Sales and Export Figures for April 2020
TOKYO, May 28, 2020 – (JCN Newswire) – Mitsubishi Motors has announced a summary of production, sales, and export figures for April 2020. (1) Beginning fiscal 2012, locally branded models produced in China, which to date had been included in the output figure for China, are now excluded (2) Includes imports to Japan Summary: April… Continue reading @Mitsubishi: Mitsubishi Motors Announces Production, Sales and Export Figures for April 2020
Renault prepares for 15,000 job cuts
Struggling French carmaker Renault is said to be planning 15,000 job cuts around the world as it tries to contain losses amid the pandemic. The move comes as the virus deepens the challenges facing the firm, which saw its first annual loss in a decade last year. The company, which has pledged to cut costs… Continue reading Renault prepares for 15,000 job cuts
Renault poised to announce 15,000 layoffs worldwide: union
FILE PHOTO: A logo of Renault carmaker is pictured at a dealership in Nantes, France, May 26, 2020. REUTERS/Stephane Mahe PARIS (Reuters) – French car maker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a turnaround plan to cope with slumping demand and excess costs, a representative for the CFDT… Continue reading Renault poised to announce 15,000 layoffs worldwide: union
Nissan reports $6.2bn annual net loss, worst in 20 years
TOKYO — Nissan Motor has posted a net loss of 671 billion yen ($6.2 billion) for the year ended in March as the new coronavirus outbreak devastated sales and the carmaker started a big restructuring to cut costs. The annual financial result exceeds the company’s net loss of 233 billion yen for the 12 months… Continue reading Nissan reports $6.2bn annual net loss, worst in 20 years