Less than 24 hours after it was reported that Uber was considering layoffs of 20% of staff, its big rival Lyft is announcing its own cuts. Today the company said it would be reducing employee count by 17%, working out to 982 employees, and furloughing an additional 288, due to the effects of the COVID-19 pandemic… Continue reading Lyft is laying off 982 employees, furloughing a further 288 due to COVID-19 pandemic
Tag: People
NIO Announces Entry into Definitive Agreements for Investments in NIO China
SHANGHAI, China, April 29, 2020 (GLOBE NEWSWIRE) — NIO Inc. (“NIO” or the “Company”) (NIO), a pioneer in China’s premium smart electric vehicle market, today announced that it entered into definitive agreements for investments in NIO China with a group of investors (collectively, the “Strategic Investors”) led by Hefei City Construction and Investment Holding (Group)… Continue reading NIO Announces Entry into Definitive Agreements for Investments in NIO China
British-startup Urban Electric completes trial of pop-up EV charger
British electric vehicle charging startup Urban Electric Networks has successfully completed trials of its UEone prototype on-street pop-up charging hub for EVs. The trial was conducted in association with Oxford City Council, Co-wheels Car Club and product design agency and manufacturer Duku, which was funded by the Office for low Emission Vehicles (OLEV) and administered… Continue reading British-startup Urban Electric completes trial of pop-up EV charger
@VW Group: Volkswagen Group’s business substantially impacted by Covid-19 pandemic in first quarter
The Volkswagen Group recorded a substantial impact on its business as a result of the global Covid-19 pandemic following the first three months of the current fiscal year. Deliveries to customers decreased by 23.0 percent compared to the same period of the previous year to 2.0 (2.6) million vehicles. Sales revenue fell by 8.3 percent… Continue reading @VW Group: Volkswagen Group’s business substantially impacted by Covid-19 pandemic in first quarter
News – EU auto industry actions to fight COVID-19
Automobile manufacturers right across Europe have been playing a key role in the fight against COVID-19, using their resources to manufacture much-needed medical equipment, making employees available, as well as donating vehicles, supplies and money. The European Automobile Manufacturers’ Association (ACEA) has made an overview of some of the key actions undertaken by its members… Continue reading News – EU auto industry actions to fight COVID-19
LG ANNOUNCES FIRST-QUARTER 2020 FINANCIAL RESULTS
Highest First-Quarter Operating Income Margin in Company History SEOUL, April 29, 2020 — LG Electronics Inc. (LG) today announced first-quarter 2020 consolidated revenue of KRW 14.73 trillion (USD 12.45 billion) and operating profit of KRW 1.09 trillion (USD 921.47 million). Although revenue declined modestly compared with the same period last year, operating income improved 21.1… Continue reading LG ANNOUNCES FIRST-QUARTER 2020 FINANCIAL RESULTS
Altair announces brand refresh
Altair, the global technology company offering solutions in product development, high-performance computing and data analytics has announced a brand refresh. The step is aimed at reflecting Altair’s position as a solutions-based company that empowers innovation while evolving for sustainable growth more accurately. The new brand with the mantra ‘Only Forward’, demonstrates that Altair’s focus on… Continue reading Altair announces brand refresh
Fortum Sold A Majority Stake Of Its Recharge Network To Infracapital
Fortum partners with Infracapital to speed up charging infrastructure development and growth 27 April 2020, 09:30 EEST Fortum has signed an agreement to sell a majority share of its public charging point operator (CPO), Fortum Recharge AS, for electrical vehicles in the Nordics to Infracapital, the infrastructure equity investment arm of M&G Plc. After the… Continue reading Fortum Sold A Majority Stake Of Its Recharge Network To Infracapital
Ford kills Rivian deal with Lincoln (for now) amid economic challenges during pandemic
CLOSE Ford and Rivian put their plans on ice to jointly develop a Lincoln-brand electric vehicle, a Lincoln spokeswoman confirmed on Tuesday. Ford said the current economy has created new and unexpected challenges, so this particular project is being postponed, said Angie Kozleski, Lincoln spokeswoman. The environment is changing rapidly. Just as any prudent business would do, we… Continue reading Ford kills Rivian deal with Lincoln (for now) amid economic challenges during pandemic
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