Tag: People

Zetsche leaves, the system remains Zetsche

Wednesday, 09/26/2018 14:58 clock After 13 years as head of Daimler, Dieter Zetsche will leave office. At the general meeting of the car company in May 2019, his successor will be announced, the previous development director Ola Källenius , That’s what the supervisory board of the car company decided on Wednesday. The personality in itself… Continue reading Zetsche leaves, the system remains Zetsche

Ford is planning cuts to its salaried workforce

Rebecca Cook | Reuters
Ford Motor Company president and CEO James Hackett

Ford said Friday that it is planning cut to its salaried workforce in an effort to make the company more efficient.

The news was reported Friday in both the Detroit News and Detroit Free Press, but confirmed with CNBC.

The company does not yet know how many jobs it plans to cut, the company said. But it expects to have more details by the second quarter of 2019. Ford said it employs 70,000 salaried workers.

CEO Jim Hackett has said the second-largest U.S. automaker needs to improve its financial health.

Shares of Ford ended the day down less than 1 percent at $9.12. The stock has fallen about 27 percent since the beginning of the year.

Ford hired Hackett in early 2017 after seeing its stock languish under previous management, despite delivering several profitable quarters. However, since then some investors have grown frustrated with what they say is a lack of a specific plans to improve the company's outlook. The shares have fallen from a 52-week high of $13.33 set on Jan. 16 to a 52-week low of $9.09 on Thursday.

Daimler starts building electric car batteries in Tuscaloosa

FRANKFURT (Reuters) – Daimler (DAIGn.DE) on Friday said it will start building a battery plant as part of its planned $1 billion investment to upgrade its factory in Tuscaloosa, Alabama, which has also started to produce a new sports utility vehicle, the GLE. FILE PHOTO: The Daimler logo is seen before the Daimler annual shareholder… Continue reading Daimler starts building electric car batteries in Tuscaloosa

Toyota car fault prompts massive recall

Japanese car giant Toyota has announced a recall of more than 2.4 million hybrid vehicles worldwide because of a fault in their systems that could cause them to lose power. The recall of Prius and Auris cars includes 1.25 million in Japan, 830,000 in North America and 290,000 in Europe, of which about 55,000 are… Continue reading Toyota car fault prompts massive recall

Groupe Renault and Newfund are investing in the startup Akoustic Arts to accelerate the development of its on-board directional speakers

Groupe Renault and the fund Newfund announce their investment in the French startup Akoustic Arts, specialized in directional sound. This agreement paves the way for Renault and Akoustic Arts experts to collaborate on the integration of innovative directional speakers into Renault vehicles. This project is part of Groupe Renault’s strategy which aims to offer new… Continue reading Groupe Renault and Newfund are investing in the startup Akoustic Arts to accelerate the development of its on-board directional speakers

Dealers turn in strong profit performance in August

The average UK motor retailer made a profit of £200 in the month of August, a marked contrast to the traditional result for the month, which last year produced an average loss of just under £17,000. This was all produced by pre-WLTP deadline activity, with significant incentives being provided to move cars prior to the… Continue reading Dealers turn in strong profit performance in August

The game of alliances is set up in the autonomous car

Who will win the race for the autonomous car? The car manufacturers multiply in any case the alliances, to give themselves the best chance of one day reaching the finish line. Thursday, Toyota unveiled the creation of a joint venture with SoftBank to develop his “e-pallet”, a sort of wagon capable of making deliveries without… Continue reading The game of alliances is set up in the autonomous car

NAVYA and AXA launch a partnership to develop insurance solutions tailored to autonomous vehicles

3 October 2018 NAVYA and AXA launch a partnership to develop insurance solutions tailored to autonomous vehicles To mark the opening of the 2018 Paris Motor Show, NAVYA, a leading company in the autonomous vehicle market and in smart and shared mobility solutions, and AXA, a global leader in insurance and asset management, announce the… Continue reading NAVYA and AXA launch a partnership to develop insurance solutions tailored to autonomous vehicles

Droom raises $30mn funding; to buy back ESOPs worth Rs 50 cr

The company also aims to expand its operations in 100 more Indian cities. New Delhi: Online automobile marketplace Droom Thursday said it has raised USD 30 million (over Rs 200 crore) led by the family office of Japan-based investor, Joe Hirao. The company, which has raised USD 125 million in funding till date, is also… Continue reading Droom raises $30mn funding; to buy back ESOPs worth Rs 50 cr