BorgWarner Provides Business Update Related to COVID-19

AUBURN HILLS, Mich., March 24, 2020 /PRNewswire/ — BorgWarner Inc. (NYSE: BWA) (the “Company”) acknowledged that many original equipment manufacturer (“OEM”) customers have announced that they have suspended or will suspend manufacturing operations, particularly in North America and Europe, on a temporary basis due to market conditions and matters associated with COVID-19/coronavirus. Significant reductions in automotive or truck production… Continue reading BorgWarner Provides Business Update Related to COVID-19

MAHLE Powertrain opens new facility for electrified powertrain battery

MAHLE Powertrain has opened a new, dedicated facility for the extensive testing of battery modules seeking to develop latest generation automotive electrification technologies given the cost pressures on vehicle manufacturers. The facility, based at the powertrain specialist’s Northampton technical centre, enables the strip-down and disassembly of modules and compact vehicle batteries for post-test assessment, and… Continue reading MAHLE Powertrain opens new facility for electrified powertrain battery

LiDAR Start-Up Blickfeld closes Series A with participation of Continental and Wachstumsfonds Bayern – Green Car Congress

Munich-based LiDAR start-up Blickfeld has completed its Series A financing round. The new financing was led by the venture capital unit of Continental together with Wachstumsfonds Bayern, which is managed by Bayern Kapital, with participation of the existing investors Fluxunit – OSRAM Ventures, High-Tech Gründerfonds, TEV (Tengelmann Ventures) and Unternehmertum Venture Capital Partners. Blickfield’s Cube… Continue reading LiDAR Start-Up Blickfeld closes Series A with participation of Continental and Wachstumsfonds Bayern – Green Car Congress

Updated March 23: DENSO’s Response to COVID-19

Southfield, Mich. (March 23, 2020) – During these difficult times, DENSO remains committed to protecting the health and safety of its employees while ensuring business continuity. That is why the company has: Aggressively increased sanitation of its facilities, Limited the number of on-site employees, as much as possible, Advised employees who can work from home… Continue reading Updated March 23: DENSO’s Response to COVID-19

(LEAD) Hyundai heir apparent buys Hyundai Motor, Mobis stocks to boost prices

(ATTN: UPDATES with more details from para 2) SEOUL, March 23 (Yonhap) — Hyundai Motor Group’s heir apparent Chung Euisun on Monday bought 19 billion won (US$15 million) worth of stocks in two key affiliates to prop up their declining prices. Hyundai Motor Executive Vice Chairman Chung Euisun purchased 139,000 shares of Hyundai Motor Co.,… Continue reading (LEAD) Hyundai heir apparent buys Hyundai Motor, Mobis stocks to boost prices

03/17/2020MAHLE reaction to Coronavirus

MAHLE reaction to Coronavirus

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Update March 17, 2020As soon as the situation became known, MAHLE promptly notified its workforce worldwide and explained the risks involved as well as the rules of conduct and safety measures. We are observing ongoing developments very closely as well as the recommendations of WHO as well as official recommendations in the respective countries, and are updating our employees regularly on any new developments through our internal communication channels. Our current regulations are based on the recommendations of the Robert Koch Institute. For instance, MAHLE currently has a general travel ban in place which requires that urgent exceptions are specifically approved. We also generally encourage our employees to work from home wherever possible. Meetings are primarily held without the need for physical presence; for meetings requiring physical attendance clearly defined rules apply that must be observed. Furthermore, any employees who have been in any of the regions officially designated as risk areas are always required to wait for a period of 14 days before returning to work at a MAHLE location.

@Geely: Sun 23 Feb 2020Lotus slashes servicing costs on Elise, Exige and Evora: now starts from just £270Lotus has slashed the price of servicing an Elise, Ex…

New lower price on 9,000-mile first service Average maintenance cost reduction of 37% on entire sports car range Price cuts on Lotus consumables including filters, plugs, drive belts and fluids Servicing schedules and job times also realigned for further running cost reductions (Hethel, UK – 23 March 2020) – Lotus has slashed the price of… Continue reading @Geely: Sun 23 Feb 2020Lotus slashes servicing costs on Elise, Exige and Evora: now starts from just £270Lotus has slashed the price of servicing an Elise, Ex…

Bosch reacts to falling automotive demand: cutbacks in operations at German locations

About Bosch The Bosch Group is a leading global supplier of technology and services. It employs roughly 403,000 associates worldwide (as of December 31, 2019). According to preliminary figures, the company generated sales of 77.9 billion euros in 2019. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy… Continue reading Bosch reacts to falling automotive demand: cutbacks in operations at German locations

03/20/2020MAHLE implements comprehensive measures to contain the coronavirus

MAHLE implements comprehensive measures to contain the coronavirus

Stuttgart, March 20, 2020 – MAHLE has adopted a comprehensive action package in response to the continuing spread of the novel coronavirus and the decision by numerous OEMs to suspend production. As from today, all European production sites will be successively closed down in a controlled manner by Wednesday, March 25, at the latest, and indirect administrative and development functions reduced to a few key core functions.

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Press release [PDF; 16 KB] Operations to be largely suspended at the European sitesMeasures to protect employees and business initiatives in response to the market situationMAHLE Aftermarket to continue supplying spare parts to repair shops “We are facing an extreme situation of an unforeseeable scale, and it is completely unclear how things will develop. We must make every possible effort to contain the further spread of the coronavirus in order to protect our employees. At the same time, we are responding as a business to the collapsing markets and, in particular, to the production stoppages of the OEMs in Europe”, says Dr. Jörg Stratmann, CEO and Chairman of the MAHLE Management Board.
These measures will affect some 70 locations across Europe. MAHLE will decide on which approach to use in each case, such as applying for short-time work, in consultation with the employee representatives. This, as well as further internal measures, will apply until further notice depending on the overall situation. Excluded from these measures are the distribution centers for the aftermarket in order to secure the supply of spare parts to repair shops.
About MAHLEMAHLE is a leading international development partner and supplier to the automotive industry as well as a pioneer for the mobility of the future. The MAHLE Group is committed to making transportation more efficient, more environmentally friendly, and more comfortable by continuously optimizing the combustion engine, driving forward the use of alternative fuels, and laying the foundation for the worldwide introduction of e-mobility. The group’s product portfolio addresses all the crucial issues relating to the powertrain and air conditioning technology—both for drives with combustion engines and for e-mobility. MAHLE products are fitted in at least every second vehicle worldwide. Components and systems from MAHLE are also used off the road—in stationary applications, for mobile machinery, rail transport, as well as marine applications.
In 2018, the group generated sales of approximately EUR 12.6 billion with more than 79,000 employees and is represented in over 30 countries with 160 production locations. At 16 major research and development centers in Germany, Great Britain, Luxembourg, Spain, Slovenia, the USA, Brazil, Japan, China, and India, more than 6,100 development engineers and technicians are working on innovative solutions for the mobility of the future.
For further information, contact:MAHLE GmbH
Ruben Danisch
Corporate Communications/Public Relations
Pragstraße 26 – 46
70376 Stuttgart, Germany
Phone: +49 711 501-12199
Fax: +49 711 501-13700
ruben.danisch@mahle.com

EXCLUSIVE Possible cooperation: Volkswagen and Daimler are exploring software cooperation

DPA (2) Volkswagen and Daimler: The groups are exploring possible cooperation at the highest level. The auto companies Volkswagen Show stock market chart and Daimler Show stock market chart think about a software cooperation. There were first talks about a partnership reports the manager magazin. Volkswagen CEO Herbert Diess (61) and his Daimler colleague Ola… Continue reading EXCLUSIVE Possible cooperation: Volkswagen and Daimler are exploring software cooperation