Tag: Renault

Toyota and Honda to ramp up China plants to make up lost output

TOKYO — Japanese auto companies will accelerate production in China from May as the country recovers from the coronavirus pandemic earlier than other parts of the world. The carmakers are moving to pump up output to position themselves as they see the massive market re-emerging as the global sales leader. Toyota Motor and Honda Motor… Continue reading Toyota and Honda to ramp up China plants to make up lost output

Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform

HERZLIYA, ISRAEL, April 30, 2020 (GLOBE NEWSWIRE) — Otonomo, the leading automotive data services platform, today announced $46 million in series C funding. The round includes investments from SK Holdings, Avis Budget Group, and Alliance Ventures as well as participation from existing investors such as Bessemer Venture Partners. This round brings the company’s total funding… Continue reading Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform

Nissan plans to restart output at UK’s biggest car factory in June

FILE PHOTO: A Nissan logo is pictured at Brussels Motor Show, Belgium, January 9, 2020. REUTERS/Francois Lenoir LONDON (Reuters) – Nissan (7201.T) will restart phased production in early June at its northern English Sunderland factory, Britain’s biggest car plant, as the sector tries to resume operations amid the coronavirus outbreak. Output at the site, which… Continue reading Nissan plans to restart output at UK’s biggest car factory in June

Exclusive: Nissan shakes off virus woes in China sales with rebound in April – sources

BEIJING (Reuters) – Nissan Motor Co’s (7201.T) vehicle sales in China this month almost recovered to the prior year’s level after a coronavirus-related 45% plunge in March, two sources with knowledge of the Japanese automaker’s preliminary data said. FILE PHOTO: A Nissan logo is pictured at Brussels Motor Show, Belgium, January 9, 2020. REUTERS/Francois Lenoir… Continue reading Exclusive: Nissan shakes off virus woes in China sales with rebound in April – sources

EU clears French 5 billion euro loan guarantee to Renault

FILE PHOTO: The logo of Renault carmaker is pictured at a dealership in Orvault, near Nantes, France, February 19, 2020. REUTERS/Stephane Mahe BRUSSELS (Reuters) – The European Commission approved on Wednesday a 5 billion euro ($5.4 billion) loan guarantee to carmaker Renault group (RENA.PA) to mitigate the impact of the coronavirus crisis. The Commission, which… Continue reading EU clears French 5 billion euro loan guarantee to Renault

Nissan and Honda plan thousands of US layoffs and furloughs – Nikkei Asian Review

TOKYO — Nissan Motor intends to lay off about 10,000 workers at its idle American plants while Honda Motor places more than half its U.S. staff on temporary leave, as Japan’s automakers step up their response to the coronavirus pandemic. Almost all of Nissan’s U.S. factory workers will be affected by the layoffs, at automobile… Continue reading Nissan and Honda plan thousands of US layoffs and furloughs – Nikkei Asian Review

Mitsubishi Motors seeks $2.8bn in loans

TOKYO — Mitsubishi Motors has requested 300 billion yen ($2.8 billion) in financing from domestic and foreign lenders as the coronavirus pandemic clouds the outlook for the auto industry, Nikkei learned Tuesday. This total includes 200 billion yen from Japanese private- and public-sector financial institutions. The automaker is in talks for a syndicated loan from… Continue reading Mitsubishi Motors seeks $2.8bn in loans

Nissan forecasts up to $886m annual net loss

TOKYO — Nissan Motor downgraded its earnings forecast for the fiscal year ended March to a net loss of as much as 95 billion yen ($886 million), as the company continues to be hit severely by the impact of the novel coronavirus crisis. The Japanese carmaker announced on Tuesday that its net income could be… Continue reading Nissan forecasts up to $886m annual net loss

Nissan completes fiscal year for the first time in eleven years

Posted on Apr. 28, 2020, 4:30 p.m. Legally forced to inform the Tokyo Stock Exchange of the sudden deterioration in its performance, Nissan’s communications department improvised an unnecessarily convoluted statement on Tuesday to avoid letting go of the taboo word “losses”. However, the Japanese group and major partner of Renault is well on the point… Continue reading Nissan completes fiscal year for the first time in eleven years