Maturity: 18 months (12 months + 6 months option at Faurecia’s initiative) Senior unsecured loan, unguaranteed, pari passu with the rest of the Group’s long-term debt Drawn on Friday, April 17, 2020 This €800 million liquidity is in addition to the €600 million not drawn from the €1.2 billion syndicated credit line (maturity: June 2024)… Continue reading @Groupe PSA: Faurecia strengthens its liquidity by 800 million euros to face any potential scenario related to the covid-19 crisis
Tag: Tier 1 Suppliers
Hyundai expands R&D hub in India for self-driving tech
SEOUL — The Hyundai Motor group will establish another research and development center in India to produce software for self-driving vehicles, raising its profile in a long-term growth market. Hyundai Mobis, the South Korean group’s main parts supplier, will create a second R&D center near an existing lab in the city of Hyderabad, a tech hub in central… Continue reading Hyundai expands R&D hub in India for self-driving tech
Hyundai Mobis expands its technical center in Hyderabad, India to strengthen software development of future vehicles
It will set up the second technical center in a new IT complex near the first one in Hyderabad. Aiming to address the continuous expansion of automobile software development and secure stability Expected to strengthen its position as a software-specialized center SEOUL, South Korea, April 13, 2020 /PRNewswire/ — As part of its global R&D… Continue reading Hyundai Mobis expands its technical center in Hyderabad, India to strengthen software development of future vehicles
Hyundai first to restart Czech production, others still shut
PRAGUE (Reuters) – Hyundai Motor Co’s (005380.KS) Czech car plant was the first in the central European country to get back to work on Tuesday after a three-week outage, potentially easing some of the strain on the hard-hit economy. FILE PHOTO: Hyundai’s logo seen on its Vision T concept car at the LA Auto Show… Continue reading Hyundai first to restart Czech production, others still shut
Car parts group Valeo drops 2020 targets, gets 1 billion euros of new credit lines
FILE PHOTO: The logo of Valeo is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo PARIS (Reuters) – French car parts group Valeo (VLOF.PA) abandoned its 2020 financial targets on Tuesday because of the hit to its business from the coronavirus outbreak,… Continue reading Car parts group Valeo drops 2020 targets, gets 1 billion euros of new credit lines
Coronavirus: failures at the restart of the Bosch factory in Rodez
Posted on Apr. 13, 2020, 8:45 a.m. An uncertain recovery. The Bosch factory in Rodez (Aveyron), shutdown since the start of confinement on March 17 after employees have exercised their right of withdrawal, should reopen on Tuesday with only 10% of the 1,350 employees. Should, because management has already requested in vain the reopening on… Continue reading Coronavirus: failures at the restart of the Bosch factory in Rodez
India: Logistics startup FarEye raising $24.5m from Microsoft’s M12, others
Tech-enabled logistics management startup FarEye, operated by RoboticWares Pvt. Ltd, is raising about $24.5 million in its Series D funding round led by Microsoft’s corporate venture fund M12. According to the company’s filings with the Registrar of Companies (RoC) sourced by Paper.vc, M12 will subscribe to 40,866 compulsorily convertible preference shares (CCPS) of RoboticWares for… Continue reading India: Logistics startup FarEye raising $24.5m from Microsoft’s M12, others
Lear to defer 20% of salaried employees pay, cut CEO’s salary by 10%
Lear Corp. said Friday it was implementing a temporary 20% salary deferral for all salaried employees in the U.S. and Canada. The auto parts maker said Chief Executive Ray Scott’s salary will be reduced by 10% for the rest of 2020, and other named executive officer salaries will be cut by 5%. To put Scott’s… Continue reading Lear to defer 20% of salaried employees pay, cut CEO’s salary by 10%
Lear Takes Additional Steps to Address Impacts of COVID-19 Pandemic
SOUTHFIELD, Mich., April 10, 2020 /PRNewswire/ — Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it is taking new measures to address industry conditions created by the COVID-19 pandemic. Lear Corporation Logo. (PRNewsFoto/Lear Corporation) (PRNewsfoto/Lear Corporation) More In addition to previously announced actions to further strengthen its balance sheet… Continue reading Lear Takes Additional Steps to Address Impacts of COVID-19 Pandemic
PSA seeks to shift Fiat Chrysler merger into high gear
The tie-up was announced at the end of October and originally scheduled to be finalised in early 2021 at the latest, in order to create the world’s fourth-largest automaker Paris: The teams working on the merger of carmakers PSA Group and Fiat Chrysler (FCA) are “picking up the tempo” to finalise the merger, the head… Continue reading PSA seeks to shift Fiat Chrysler merger into high gear