By accelerating suddenly on the electric, Herbert Diess gives cold sweats to the equipment manufacturers. The boss of Volkswagen announced last week that the giant with twelve brands (Seat, Skoda, Audi, Porsche …) would focus on the electric at the expense of other technologies, forcing with him the whole branch to follow movement. And so… Continue reading Auto: the shift to electrical puts equipment manufacturers under pressure
Tag: Tier 1 Suppliers
U.S. fund Elliott suffers crushing defeat in Hyundai proxy vote
By Hyunjoo Jin and Ju-min Park SEOUL (Reuters) – Investors in Hyundai Motor Group companies rejected on Friday Elliott Management’s demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund’s campaign to shake up South Korea’s second-biggest family-run conglomerate. Elliott’s loss in a series of closely watched votes… Continue reading U.S. fund Elliott suffers crushing defeat in Hyundai proxy vote
Hyundai Mobis shareholders reject Elliott’s proposal to expand board
SEOUL, March 22 (Reuters) – Hyundai Mobis shareholders on Friday voted against Elliott Management’s proposal to expand the board to 11 directors from nine. The shareholders are set to vote on respective director nominees from the U.S. hedge fund and the management, after shareholders rejected Elliott’s dividend proposal earlier in the meeting. Reporting by Hyunjoo… Continue reading Hyundai Mobis shareholders reject Elliott’s proposal to expand board
VinFast tests its first 155 Lux cars abroad – http://en.vietnamplus.vn/
Hanoi (VNA) – The first batch of VinFast Lux cars have shipped to 14 countries in four continents for quality and safety tests. The testing process will last from now to August 2019, ensuring all VinFast products meet the high standards of Europe and the world before being sold on the market. A total of… Continue reading VinFast tests its first 155 Lux cars abroad – http://en.vietnamplus.vn/
Goodyear (GT) to Slash Jobs in Germany to Modernize Plants
Goodyear’s (GT) plan to cut jobs in Germany is likely to enhance the competitiveness of its manufacturing footprint and assist it in the production of large-rim-diameter premium tires.More The Goodyear Tire & Rubber Company GT plans to cut 1,100 jobs in Germany. This move is sync with its strategy to modernize its plant in Germany.… Continue reading Goodyear (GT) to Slash Jobs in Germany to Modernize Plants
Auto parts supplier: Four Schaeffler locations are on the verge
Schaeffler The automotive supplier checks its locations in Kaltennordheim (Thuringia), Hamm (Rhineland-Palatinate), Unna and Steinhagen (North Rhine-Westphalia). (Photo: AP) Herzogenaurach The automotive supplier Schaeffler puts four German locations with 600 employees to the test. This was announced by the company on Thursday. The works council and the IG metal announced resistance. Works council chairman Norbert… Continue reading Auto parts supplier: Four Schaeffler locations are on the verge
Goodyear, Envoy Technologies Pilot Digital Service Solution for Shared, On-Demand EV Fleets
AKRON, Ohio, March 21, 2019 /PRNewswire/ — As a leading supplier of tires and solutions for future mobility, The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a new pilot program with Envoy Technologies, a provider of shared on-demand, community-based electric vehicles (EVs). The pilot, which launched early this year, is testing services aimed at minimizing… Continue reading Goodyear, Envoy Technologies Pilot Digital Service Solution for Shared, On-Demand EV Fleets
Battery factory: VW and Northvolt plan European battery alliance
E-Golf Instead of building its own cell production, Volkswagen is once research. (Photo: AP) Düsseldorf, HanoverAs more and more European companies announce the construction of a cell factory Volkswagen first get into the research. Together with the Swedish battery start-up Northvolt and other partners from a total of seven EU countries want to enable “sustainable,… Continue reading Battery factory: VW and Northvolt plan European battery alliance
Uber Freight is expanding into Europe
Uber Freight, the newly spun out Uber business unit that helps truck drivers connect with shipping companies, is kicking off its global expansion plans. The company said Wednesday it is launching the app in Europe, starting with the Netherlands. Local carriers and drivers will be able to book and move their first loads with Uber… Continue reading Uber Freight is expanding into Europe
UPDATE 3-BMW plans to cut costs after warning on profits
MUNICH (Reuters) – BMW expects group pretax profit to fall by more than 10 percent this year and plans a sweeping 12 billion euro ($13.6 billion) savings and efficiency plan to help offset higher technology investment and currency costs. The German carmaker last week reported a 7.9 percent fall in 2018 operating profit and said… Continue reading UPDATE 3-BMW plans to cut costs after warning on profits