The Ford assembly plant on Chicago’s Southeast Side is not expecting any layoffs as the company phases out most cars — including the signature Taurus sedan built there — in favor of SUVs and trucks. The Torrence Avenue plant, Ford’s oldest in continuous operation, will end production of the Taurus and Police Interceptor sedans by… Continue reading As Ford phases out most cars, Chicago plant will produce a new SUV
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Electrify America selects vendors for fast charging network
Electrify America, the EVSE network founded by VW as part of its penance for the Dirty Diesel Debacle, has selected several vendors to install DC fast chargers at new stations across the US. Some of these will offer power levels up to 350 kW, delivering 20 miles of range per minute of charge, seven times… Continue reading Electrify America selects vendors for fast charging network
UPDATE 2-Fiat Chrysler cuts debt by more than expected
MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) (FCHA.MI) reduced its debts by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. FILE PHOTO: Sergio Marchionne, CEO, Fiat Chrysler Automobiles, speaks with journalists at the North American International Auto Show in Detroit, Michigan, U.S., January… Continue reading UPDATE 2-Fiat Chrysler cuts debt by more than expected
Peugeot’s UK Vauxhall car workers agree pay deal as dispute in Germany continues
LONDON (Reuters) – Workers at Peugeot-maker (PEUP.PA) PSA’s Vauxhall car plant in Britain have agreed a pay deal with the French automaker, the Unite Union said on Thursday, as a dispute with the firm’s Opel workers in Germany continues. A general view of the Vauxhall car plant in Ellesmere Port, Britain, January 10, 2018. REUTERS/Phil… Continue reading Peugeot’s UK Vauxhall car workers agree pay deal as dispute in Germany continues
BRIEF-Fiat Chrysler CEO says next investment cycle will take time to happen
April 26 (Reuters) – Fiat Chrysler Automobiles CEO Sergio Marchionne: * COMMENTING ON LOWER DEBT IN Q1, SAYS CURRENT INVESTMENT CYCLE COMING TO AN END, NEXT PHASE WILL TAKE TIME TO MATERIALISE Further company coverage: (Reporting by Milan newsroom) Our Standards:The Thomson Reuters Trust Principles. Go to Source
Visteon Announces First-Quarter 2018 Results
View the first-quarter 2018 financial summary infographic Visteon Announces First-Quarter 2018 Results Delivered solid financial performance Sales of $814 million Net income of $65 million Adjusted EBITDA of $104 million Net cash generated from operating activities of $81 million Adjusted free cash flow of $48 million Awarded $1.6 billion in new business Multiple SmartCore™ awards… Continue reading Visteon Announces First-Quarter 2018 Results
Ford Mondeo’s future in doubt as Fusion is axed in US
The long-term future of the Ford Mondeo looks increasingly uncertain after the automotive giant announced plans to drop the popular model’s sister vehicle – the Fusion – in the United States, and focus on pick-ups and SUVs in that region instead. The current Mondeo was introduced in 2014 in Europe – and it has survived declining sales… Continue reading Ford Mondeo’s future in doubt as Fusion is axed in US
BMW is working with LiDAR company Innoviz to make self-driving cars
BMW has already made clear its intent to launch self-driving cars by 2021. Now, the automaker has decided on solid-state LiDAR (Light Detection and Ranging) sensors and computer vision tech from startup Innoviz to enable its Level 3 – 5 autonomous vehicles to “see” their surroundings. For clarity, level 3 involves highly-automated driving, level four… Continue reading BMW is working with LiDAR company Innoviz to make self-driving cars
Uber Vows “Indefinite” Investments In Middle East And Hints At Possible Move For Rival Careem
Ride-hailing firm Uber has promised to invest on “an indefinite basis” in the Middle East and North Africa, following its recent exits from a number of Asian territories. Speaking in an interview with the CNBC television channel, broadcast on April 26, the firm’s chief operating officer Barney Harford said the company planned to “double down… Continue reading Uber Vows “Indefinite” Investments In Middle East And Hints At Possible Move For Rival Careem
Lear Reports Record First Quarter 2018 Results and Increases Full Year Financial Outlook
SOUTHFIELD, Mich., April 26, 2018 /PRNewswire/ — Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical systems, today reported record results for the first quarter 2018. Highlights include: Record sales of $5.7 billion, up 15% from a year ago Record net income of $353.7 million and record adjusted net income of $344.5… Continue reading Lear Reports Record First Quarter 2018 Results and Increases Full Year Financial Outlook