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
Tag: FCA
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
McLaren to cut 1,200 jobs as virus hits demand
UK supercar maker and Formula 1 team McLaren plans to cut more than a quarter of its workforce after the coronavirus crisis hit sales and advertising revenue. The firm employs about 4,000 people, and of the 1,200 to be made redundant, the vast majority will be in the UK. Formula 1 racing has been suspended,… Continue reading McLaren to cut 1,200 jobs as virus hits demand
Fiat Chrysler Nears $6.9 Billion State-Backed Loan From Intesa
Lender Intesa Sanpaolo SpA is nearing approval of a 6.3 billion-euro ($6.9 billion) credit facility for Fiat Chrysler Automobiles NV, in what would be Europe’s biggest government-backed financing to a carmaker since the start of the coronavirus pandemic.
REFILE-Fiat Chrysler/Peugeot deal in spotlight after Exor setbacks
(Repeats with byline) By Giulio Piovaccari MILAN, May 14 (Reuters) – Fiat Chrysler’s decision to scrap its dividend marks another setback for plans by the Agnelli family’s Exor arm to raise cash after a $9 billion sale of its reinsurer unit PartnerRe collapsed this week. Fiat Chrysler (FCA) and French Peugeot owner PSA, which have… Continue reading REFILE-Fiat Chrysler/Peugeot deal in spotlight after Exor setbacks
Ferrari Pricing of Issue of Notes
Maranello (Italy), 20 May 2020 – Ferrari N.V. (NYSE/MTA: RACE) (the “Issuer”) today announces the pricing of a Euro 650 million issue of notes due in May 2025 (the “Notes”), being the initial offering for a minimum benchmark size more than five times oversubscribed. The issue price of the Notes is equal to 98.898% of… Continue reading Ferrari Pricing of Issue of Notes
FCA Begins Work At Mirafiori On Vehicle-To-Grid Pilot Project
Work has begun at Mirafiori on the FCA-ENGIE Eps Vehicle-to-Grid pilot project The COVID-19 outbreak has not put a stop to the cooperation between Fiat Chrysler Automobiles and ENGIE Eps, nor to their commitment to support the deployment of electric mobility. Since the announcement with Terna in September of the intention to jointly experiment with… Continue reading FCA Begins Work At Mirafiori On Vehicle-To-Grid Pilot Project
@Ferrari: Ferrari Pricing of Issue of Notes
Maranello (Italy), 20 May 2020 – Ferrari N.V. (NYSE/MTA: RACE) (the “Issuer”) today announces the pricing of a Euro 650 million issue of notes due in May 2025 (the “Notes”), being the initial offering for a minimum benchmark size more than five times oversubscribed. The issue price of the Notes is equal to 98.898% of… Continue reading @Ferrari: Ferrari Pricing of Issue of Notes
CORRECTED-At Fiat Chrysler’s Brazil plant, production resumes with safety checks
BETIM, Brazil (Reuters) – Before going to work these days, employees at the Brazilian unit of Fiat Chrysler Automobiles (FCHA.MI) have to get a health check using a mobile app every morning. Fiat Chrysler Automobiles assembly workers build a 2020 Argo, amid the spread of the coronavirus disease (COVID-19), at the Assembly Plant in Betim… Continue reading CORRECTED-At Fiat Chrysler’s Brazil plant, production resumes with safety checks