BEIJING (Reuters) – China’s loss-making Tesla wannabe Nio Inc will expand its sales network with smaller showrooms, slash its workforce and spin off some business units, company executives said on Wednesday, in a move to control massive cash burn amid slowing electric vehicle sales in the world’s largest auto market. Chinese electric vehicle start-up Nio… Continue reading Nio aims to control cash burn with smaller showrooms, leaner staff
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Tesla owners start seeing a data usage counter with a 50GB cap
Sponsored Links Roberto Baldwin/Engadget Tesla last year started splitting data into standard and premium tiers, but it’s now hinting that it might watch how much data you’re using, too. Some owners have noticed a data use counter showing up on their cars with a seeming 50GB cap. It’s not yet clear what this cap is… Continue reading Tesla owners start seeing a data usage counter with a 50GB cap
MaxAB raises $6M seed round to optimize Egypt’s B2B grocery markets
Cairo based startup MaxAB looks to optimize the supply-chain network for Egypt’s food and grocery retailers. The B2B e-commerce company raised a $6.2 million seed-investment co-led by Beco Capital and 4DX Ventures. Others co-leaders included 500 Startups, Endure Capital, and Outlierz Ventures. Founded in 2018, MaxAB has built a digital platform to manage procurement and… Continue reading MaxAB raises $6M seed round to optimize Egypt’s B2B grocery markets
Exclusive: GM and UAW union making progress in talks for new labor deal – sources
DETROIT (Reuters) – General Motors Co (GM.N) and the union that represents its 48,000 striking hourly workers in the United States have made progress in talks toward a new deal but are grappling with the pay and job security of newer and temporary workers, two people familiar with the talks said on Wednesday. FILE PHOTO:… Continue reading Exclusive: GM and UAW union making progress in talks for new labor deal – sources
The Group announces the closure of its Bamberg site, Germany, by early 2021
The Group announces the closure of its Bamberg site, Germany, by early 2021 The Michelin Group announced earlier today to its 858 employees its decision to cease the activities at its Bamberg site in Germany. The Bamberg site, opened in 1971, mainly manufactures Premium 16-inch passenger car tires, a market segment that is characterized by… Continue reading The Group announces the closure of its Bamberg site, Germany, by early 2021
Continental to Enhance Long-term Competitiveness and Proactively Shape the Future of Mobility
Executive Board and Supervisory Board discuss Strategy 2030 and Transformation 2019–2029 structural program Solid balance sheet structure and organizational realignment as starting point CEO Dr. Elmar Degenhart: “We see the technological upheaval in our industries first and foremost as a huge growth opportunity and are responding proactively to the emerging crisis in the automotive industry”… Continue reading Continental to Enhance Long-term Competitiveness and Proactively Shape the Future of Mobility
Ford close to JV deal with Mahindra in India: sources
NEW DELHI (Reuters) – Ford Motor Co (F.N) and Mahindra & Mahindra (MAHM.NS) are likely to sign a deal next week to form a joint venture in India, two sources told Reuters, in a move that will see the U.S. carmaker end most of its independent operations in the country. FILE PHOTO: Ford logo is… Continue reading Ford close to JV deal with Mahindra in India: sources
Northern Ireland’s Wrightbus expected to go into administration
Automotive industry Insolvency expected after failure of last-minute buyout talks Latest: Wrightbus goes into administration, putting 1,400 jobs at risk Wrightbus manufactured London’s New Routemaster buses. Photograph: Marek Slusarczyk/Alamy Stock Photo Wrightbus, one of Northern Ireland’s largest employers with 1,400 staff, is expected to slump into administration tomorrow after failing to securing an eleventh-hour rescue… Continue reading Northern Ireland’s Wrightbus expected to go into administration
Ford to put struggling India business into venture with Mahindra
Ford and Mahindra also are jointly developing a mid-sized sport-utility vehicle for India. Ford Motor Co. is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd. after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge… Continue reading Ford to put struggling India business into venture with Mahindra
PEUGEOT BOXER 4×4 CONCEPT : CHALLENGER
With its expressive style and innovative materials, the PEUGEOT BOXER has sold 720,000 copies since its launch and is being transformed into an adventurous fighter. As PEUGEOT’s intense and exciting embodiment of the recreational vehicle, it has been the subject of extensive customization and goes off the beaten track: WANDERLUST GREEN, MINT, Alcantara GREVAL Grey… Continue reading PEUGEOT BOXER 4×4 CONCEPT : CHALLENGER