PRESS RELEASE Groupe Renault sets its new Strategy for ChinaGroupe Renault will focus in China on light commercial vehicles (LCV) and electric vehicles (EV).Groupe Renault will transfer its shares in Dongfeng Renault Automotive Company Ltd (DRAC) to Dongfeng Motor Corporation. DRAC will stop its Renault brand-related activities.LCV business is operated through Renault Brilliance Jinbei Automotive… Continue reading RENAULT: Groupe Renault sets its new Strategy for China
Tag: Renault
@Renault: AVTOVAZ Group resumes production
April 13, 2020, in accordance with the decree of the government of the Samara region, AVTOVAZ JSC, as a system-forming enterprise, resumed the operation of assembly lines in Togliatti. The LADA Izhevsk plant in Udmurtia also resumed its work. AVTOVAZ`s top priority is the health and safety of every employee. The company is fully ready… Continue reading @Renault: AVTOVAZ Group resumes production
Production to resume on April 21 at Toyota’s Onnaing plant
The Toyoita factory in Onnaing, which assembles little Yaris, has been shutdown since mid-March due to the coronavirus epidemic. It should restart on April 21 with two teams, against three before the epidemic. “We wanted to make a gradual restart to have a serene atmosphere and get the staff used to collective and individual protection… Continue reading Production to resume on April 21 at Toyota’s Onnaing plant
Nissan reportedly wants a $4.6 billion lifeline to ‘engineer a desperately needed turnaround’ amid the coronavirus pandemic
With the ongoing COVID-19 pandemic, car sales have plummeted and factories have been idled – leaving many automakers scrambling for cash.Nissan isn’t the only automaker struggling right now, however.Toyota, Fiat Chrysler, and others have also requested new credit lines while people continue to stay home and car sales plummet as a result.A supposed restructuring plan, scheduled to roll out next month and through March 2023, could slash 1 million cars from annual sales targets.
Renault Samsung, union tentatively OK wage deal for 2019
Renault Samsung Motors Corp. said Friday it has reached a tentative agreement with its union over wages for last year as the automobile industry tries to cope with the coronavirus outbreak, the company said Friday.Union workers held a two-week partial strike in January, causing production losses of about 10,400 vehicles worth about 200 billion won.To offset the reduction in the Rogue production, Renault Samsung badly needs to secure export volume for the XM3 compact SUV, but the company is still in talks with its parent company Renault, and no decision has been made yet.
Nissan restructuring may assume cut of 1 mln cars to annual sales target -sources
TOKYO/BEIJING (Reuters) – Nissan Motor Co Ltd’s (7201.T) management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next month would likely assume a cut of 1 million cars to its annual sales target, senior company sources said. FILE PHOTO: A Nissan logo is pictured during the… Continue reading Nissan restructuring may assume cut of 1 mln cars to annual sales target -sources
Renault chairman: could seek 4-5 billion euros worth of bank loans
FILE PHOTO: Chairman of Renault SA Jean-Dominique Senard attends a news conference at French carmaker Renault headquarters in Boulogne-Billancourt, near Paris, France, October 11, 2019. REUTERS/Charles Platiau PARIS (Reuters) – Renault (RENA.PA) Chairman Jean-Dominique Senard said on Friday that the carmaker could seek bank loans worth 4-5 billion euros ($4.4-$5.4 billion). “It could be in… Continue reading Renault chairman: could seek 4-5 billion euros worth of bank loans
UPDATE 1-Volkswagen furloughs 1,500 workers at Tennessee auto plant starting April 11
FILE PHOTO: The Volkswagen Chattanooga Assembly Plant in Chattanooga, Tennessee November 4, 2015. REUTERS/Tami Chappell (Reuters) – Volkswagen AG (VOWG_p.DE) said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic. The German automaker said the temporary emergency furloughs for… Continue reading UPDATE 1-Volkswagen furloughs 1,500 workers at Tennessee auto plant starting April 11
Toyota to halt Indonesia production as Jakarta locks down
JAKARTA — Toyota Motor will temporarily shut down production in Indonesia, Nikkei learned Thursday, with the government ordering a partial lockdown in the capital to stem the spread of the novel coronavirus. Toyota will halt operations from Monday through April 17. Toyota subsidiary Daihatsu Motor is to suspend production for eight days starting Friday. Toyota’s annual output capacity in the country totals… Continue reading Toyota to halt Indonesia production as Jakarta locks down
Nissan seeks $4.6bn credit line to raise liquidity amid pandemic
TOKYO — Nissan Motor is seeking a credit line worth 500 billion yen ($4.6 billion) from Japanese banks, led by Mizuho Bank. The move is aimed at staving off funding problems for the Japanese automaker as vehicle sales plunge amid the new coronavirus outbreak. The Japanese automaker decided to make the request at a board meeting on… Continue reading Nissan seeks $4.6bn credit line to raise liquidity amid pandemic