PRESS RELEASEClermont-Ferrand – May 17, 2019COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN2019 Annual Shareholders MeetingThe Annual Meeting of Michelin shareholders was held on May 17, 2019 in Clermont-Ferrand under the chairmanship of the Managing Chairman Jean-Dominique Senard.Shareholders adopted all of the resolutions submitted for their approval. These concerned, in particular:The payment of a dividend of €3.70 per… Continue reading Michelin: 2019 Annual Shareholders Meeting
Tag: Strategy
2019 Annual General Meeting – Press release
2019 Annual General Meeting – Press release The Annual Meeting of Michelin shareholders was held on May 17, 2019 in Clermont-Ferrand under the chairmanship of the Managing Chairman Jean-Dominique Senard. Shareholders adopted all of the resolutions submitted for their approval. These concerned, in particular: The payment of a dividend of €3.70 per share, payable in… Continue reading 2019 Annual General Meeting – Press release
BMW CEO faces criticism for bad Q1 results and lack of ambitious electric strategy
BERLIN, May 16 (Xinhua) — Harald Krueger, chief executive officer (CEO) of the German luxury car maker BMW, faced a tough audience of shareholders at BMW's Annual General Meeting (AGM) in Munich on Thursday.
“Currently, only bad news comes from BMW,” said Janne Werning from the German fund company Union Investment at the AGM.
Last week, the German car manufacturer reported its first loss in a decade in the main automotive division of BMW in the first quarter of 2019.
The German car maker's operating profits (EBIT) fell by 78 percent to 589 million euros (658.5 million U.S. dollars) in Q1 of 2019, compared to 2.7 billion euros in Q1 of 2018.
BMW's profit margin in the automotive business has been below the company's target value of 8 percent for months.
Although the Munich carmaker sold more cars last year than in the previous year, profit before taxes fell to 9.8 billion euros and are expected to fall below 8.9 billion euros this year.
Daniela Bergdolt, vice presid..
Ford revs up to sell hybrids with appeal of speed and power
DETROIT (Reuters) – Ford Motor Co is turning to the automotive marketer’s time-tested themes, speed and power, to sell a new generation of gasoline-electric hybrid vehicles to mass market customers. FILE PHOTO: A 2020 Ford Explorer Hybrid is hooked up to a boat trailer to demonstrate towing power in Dearborn, Michigan, U.S., May 15, 2019.… Continue reading Ford revs up to sell hybrids with appeal of speed and power
DRiV™ to Supply Monroe Intelligent Suspension Technology on 2020 Toyota GR Supra Sports Coupe
LAKE FOREST, Ill., May 17, 2019 /PRNewswire/ — DRiV™, a Tenneco Inc. (NYSE: TEN) business and leading global aftermarket and ride performance supplier, has announced that advanced suspension technology from its Monroe® Intelligent Suspension portfolio is included on the fifth-generation, 2020 Toyota GR Supra sports coupe. The company’s Continuously Variable Semi-Active (CVSAe) suspension technology will be… Continue reading DRiV™ to Supply Monroe Intelligent Suspension Technology on 2020 Toyota GR Supra Sports Coupe
Nissan retains Saikawa as CEO, in likely rebuff of Renault
TOKYO (Reuters) – Nissan Motor Co said on Friday that Hiroto Saikawa would stay on as chief executive, backing the protege of former boss Carlos Ghosn even as top shareholder Renault had earlier pushed for a change in the Japanese automaker’s leadership. FILE PHOTO: Nissan CEO Hiroto Saikawa attends a news conference in Yokohama, Japan,… Continue reading Nissan retains Saikawa as CEO, in likely rebuff of Renault
Amazon leads $575M investment in Deliveroo
Amazon is taking a slice of Europe’s food delivery market after the U.S. e-commerce giant led a $575 million investment in Deliveroo. First reported by Sky yesterday, the Series G round was confirmed in an early UK morning announcement from Deliveroo, which confirmed that existing backers including T. Rowe Price, Fidelity Management and Research Company,… Continue reading Amazon leads $575M investment in Deliveroo
Cummins Increases Presence and Footprint in Indiana
INDIANAPOLIS–(BUSINESS WIRE)–Today at the Indianapolis Motor Speedway, Cummins Inc. (NYSE: CMI) along with the Governor of Indiana and the Mayors of Columbus, Greenwood and Indianapolis, announced plans to expand its presence along the “Cummins Corridor” with new building projects and investment along I-65 in its global headquarters in Columbus, in Greenwood and in Indianapolis, Indiana.… Continue reading Cummins Increases Presence and Footprint in Indiana
European Investment Bank to support Northvolt’s battery gigafactory in Sweden
BRUSSELS, May 16 (Xinhua) — The European Investment Bank (EIB) gave its approval in principle on Thursday to help finance Europe's first home-grown gigafactory for lithium-ion battery cells, Northvolt Ett, in Sweden.
The batteries from Northvolt Ett's batteries are used in automotive, grid storage, and industrial and portable applications. Ramping up to full capacity, Northvolt Ett will produce 32 GWh of battery capacity per year.
“The development of a competitive and green battery value chain within Europe can not only cut greenhouse gas emissions by decarbonising power generation and transport, but can also help protect millions of well paid jobs in European industries in the face of increasing global competition,” said EIB vice-president Andrew McDowell.
According to him, the 350-million-euro loan to Northvolt approved in-principle on Thursday “is the largest ever direct EIB financing approval for battery technology, and we look forward to working with Northvolt over the ..
Volkswagen at the 40th International Vienna Motor Symposium: autonomous vehicles, hybrid drives and the start of a new era in electric mobility
With the introduction of its 48-volt mild hybrid drive system, Volkswagen is entering the next phase of the large-scale electrification of its fleet Volkswagen will be providing an in-depth insight into its modular electric drive matrix for the very first time The next step will see Volkswagen working to advance the development of highly automated… Continue reading Volkswagen at the 40th International Vienna Motor Symposium: autonomous vehicles, hybrid drives and the start of a new era in electric mobility