Tag: Possible_Terrorism_Warfare

Electric cars “not going to work,” Trump says of GM’s plan

Donald Trump
In an interview with Fox News last week, President Trump revealed his inner thoughts about electric cars—not that many had any doubts.

“All-electric is not going to work,” he said, referring to General Motors' stated goal to transition to “a world with zero crashes, zero emissions, and zero congestion.” The company announced last year that it will launch 20 new hybrid, plug-in, and electric cars by 2023 to meet more stringent emissions standards in China, Europe, California, and elsewhere.

READ THIS: GM to kill Chevy Volt production in 2019

Referring to GM CEO Mary Barra's announcement of the plan, Trump said, ““They’ve changed the whole model of General Motors. They’ve gone to all-electric. All-electric is not going to work … It’s wonderful to have it as a percentage of your cars, but going into this model that she’s doing I think is a mistake.”

DON'T MISS: Trump vows retaliation against GM for layoffs

GM announced last month that it would shut down five assembly plants, including the Detroit Hamtramck factory that builds the Chevy Volt and the Lordstown, Ohio, factory that builds the compact Chevrolet Cruze that underpins the Volt. At the same time, the company plans to lay off 15,000 workers. Those workers, in Michigan and Ohio were some of the supporters that handed Trump the election in 2016.

CHECK OUT: Is Trump presidency the real market test for electric cars?

When GM made the announcement in the end of November, Trump vowed retaliation against the company, and he reiterated that stance last week. “I don’t like what she did,” Trump told Fox News, referring to Barra. “It was nasty. To tell me a couple of weeks before Christmas that she’s going to close in Ohio and Michigan, not acceptable to me. General Motors is not going to be treated well.”

As GM as looked to ramp up production in China to meet the country's demand for electric cars, Trump has imposed new tariffs on Chinese-made products to make them harder to import. That has thrown a monkey wrench into GM's plans (and those of other automakers) to sell some of those cars in the U.S.

Tension rises between Nissan and Renault

How do you say “no” in Japanese? Friday night, Thierry Bolloré, the interim boss of Renault, sent a letter to Hiroto Saikawa, his counterpart at Nissan, to ask him to hold a meeting. general meeting extraordinary Japanese manufacturer. Thierry Bolloré explained in his missive to be “very concerned” by the indictment of the Japanese group… Continue reading Tension rises between Nissan and Renault

Car manufacturer: VW boss Diess must setback in the cooperation with Ford

Herbert Diess VW and Ford want to push the costs of developing new mobility concepts and electromobility with their planned cooperation. (Photo: AP) Dusseldorf, FrankfurtThe negotiations between the car manufacturers Volkswagen and ford over a deeper cooperation have faltered. Although there is a fundamental agreement on cooperation in the production of transporters, as the Handelsblatt… Continue reading Car manufacturer: VW boss Diess must setback in the cooperation with Ford

Plastic Omnium floats on the stock market after reassuring markets

Plastic Omnium back in favor of investors this Thursday. After losing more than 45% on the stock market since the beginning of the year, the title of the automotive supplier jumped nearly 10% at the opening before falling to + 3.78%, to 20 euros at midday. A rise linked to a series of ads. On… Continue reading Plastic Omnium floats on the stock market after reassuring markets

China to ‘cut US car tariff to 15%’

China has reportedly proposed cutting tariffs on US-made cars to 15%, the same tax levied on car imports from other countries. Bloomberg reported that China’s cabinet will review the plans, which would undo the 40% import duty China imposed on US cars this summer. The proposal, the timing of which remains uncertain, comes as the… Continue reading China to ‘cut US car tariff to 15%’

UPDATE 3-Ex-Ford Argentina execs convicted in torture case, victims may sue in U.S.

BUENOS AIRES (Reuters) – An Argentine court on Tuesday convicted two former executives of a local Ford Motor Co (F.N) plant of involvement in the torture of workers during the country’s dictatorship in the 1970s, victims’ lawyers said, adding they may sue Ford in U.S. federal court. Former Ford Motor Co. security chief Hector Sibilla… Continue reading UPDATE 3-Ex-Ford Argentina execs convicted in torture case, victims may sue in U.S.

UPDATE 1-Defunct startup Sidecar sues Uber: ‘hell-bent on stifling competition’

SAN FRANCISCO (Reuters) – Defunct startup Sidecar Technologies Inc, which pioneered on-demand ride-hailing, is suing Uber Technologies Inc [UBER.UL], alleging it engaged in predatory pricing and anticompetitive practices that ultimately put Sidecar out of business. FILE PHOTO: The Uber, Lyft and Juno logos are seen on a car as it drive up 6th Avenue in… Continue reading UPDATE 1-Defunct startup Sidecar sues Uber: ‘hell-bent on stifling competition’

China auto sales keep falling and falling

Fred Dufour | AFP | Getty Images
Vehicles at a Hongqi car dealer in Beijing. – Car sales are falling in China this year but one brand is speeding ahead: The national 'Red Flag' sedan is flying high, powered by purchases from the government, state companies and patriotic citizens.

Auto sales in China fell 14 percent in November over the same month in 2017, the Chinese Association of Automobile Manufacturers said Tuesday.

Sales fell 14 percent compared with November 2017, continuing a downward trend that started in July. It is the largest decline so far this year, the association said in a press release.

“This is the first sustained downturn in memory,” said Michael Dunne, CEO of ZoZoGo, a firm that advises automakers on doing business in China. “We would have to go back to the Asian financial crisis in 1998-1999 to see the last time China had flat or down sales for four months or more in a row.”

A slowing economy, a crackdown on certain types of auto lending and a trade war with the United States have all been factors in contributing to the slowdown, Dunne said.

There were a couple of bright spots though. Heavy truck sales rose last month, which was surprising, Piper Jaffray analyst Alexander Potter said in a note published Tuesday. The growth came primarily from a jump in the sale of semi-trucks, which outsold construction trucks for the first time in more than a year.

UPDATE 2-China car sales drop at steepest pace in almost seven years

* Nov car sales drop 13.9 pct y/y; NEV sales up 37.6 pct * Fifth straight monthly drop, steepest since 2012 * 2018 FY sales set to drop 3 pct – industry body * Industry going through a painful period – official (Adds officials’ comments, graphic, sales forecasts) By Yilei Sun and Adam Jourdan BEIJING/SHANGHAI,… Continue reading UPDATE 2-China car sales drop at steepest pace in almost seven years