Ineos Automotive has revealed some of the principal specs of its upcoming Grenadier SUV, which openly takes after the Land Rover Defender classics. Four years ago, just as the first-gen Defender went out of production, Ineos CEO Jim Ratcliffe contacted Jaguar Land Rover asking to buy the production rights. Facing refusal, he decided to design… Continue reading Ineos Automotive reveals its Defender-like Grenadier SUV in greater detail – Forma car News
Tag: Magna
MAGNA PROVIDES UPDATE ON CURRENT COVID-19 ACTIONS AND WITHDRAWS OUTLOOK
AURORA, Ontario, March 26, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today provided an update on a number of actions related to the COVID-19 pandemic.Magna has established internal task forces to assess, monitor and deal with the potential impact of COVID-19 on our business and share information across the company. We… Continue reading MAGNA PROVIDES UPDATE ON CURRENT COVID-19 ACTIONS AND WITHDRAWS OUTLOOK
Auto suppliers fear financial ruin as GM, Ford and FCA grind to a halt
CLOSE Following Michigan Governor Gretchen Whitmer’s “stay home” order to try and slow the spread of the coronavirus, Detroit streets were eerily empty. Detroit Free Press About 4:30 p.m. last Wednesday the employees at auto supplier Dana Inc. in Warren received an unsettling text message from management. The text, obtained by the Free Press read, “We are well… Continue reading Auto suppliers fear financial ruin as GM, Ford and FCA grind to a halt
2020 Jaguar XJ: latest images reveal electric luxury car’s look
JLR’s current electrified models, the Range Rover and Range Rover Sport plug-in hybrids, are built at its Solihull plant, while the electric Jaguar I-Pace is produced by contract manufacturer Magna Steyr in Graz, Austria. Autocar first reported that the next-generation XJ would go electric in 2015. The company said the new XJ will “build on… Continue reading 2020 Jaguar XJ: latest images reveal electric luxury car’s look
Restructuring: MAN truck manufacturer plans to cut 6,000 jobs
picture alliance / dpa MAN wants to cut every 6th position The truck builder MAN wants to cut jobs massively. The “Handelsblatt” reported on Thursday, citing corporate groups, that 6000 of the 36,000 jobs across the company were at acute risk. The Executive Board informed the works council of this number at a consultation meeting.… Continue reading Restructuring: MAN truck manufacturer plans to cut 6,000 jobs
Alphabet’s Waymo raises US$2.25b for driverless cars
WAYMO raised US$2.25 billion from a slate of private equity investors, venture capitalists and automotive companies, the first time Alphabet Inc’s autonomous vehicle unit has taken outside funds.Silver Lake Management LLC, a private equity firm, led the round, which also includes vehicle manufacturer Magna International Inc, car seller AutoNation Inc, Abu Dhabi’s Mubadala Investment Co and the Canada Pension Plan Investment Board.Alphabet’s “other bets” division, which includes Waymo, has absorbed billions of dollars in losses in recent years.
Magna to Hold Investor Day
AURORA, Ontario, Feb. 27, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG, NYSE: MGA), a mobility technology company and global leader in the automotive industry, will hold an Investor Day event. Magna management will present on the state of the company, how its product capabilities align with industry trends, and highlight the company’s growth… Continue reading Magna to Hold Investor Day
Paving the Way to Powertrain Electrification
Magna is helping automakers prepare for a future that emphasizes electrificationMagna’s new e4 technology demonstrator car sets a new benchmark in EV efficiency, driving dynamics and rangeAffordable electromobility through scalable, modular drive systemsARJEPLOG, Sweden, Feb. 26, 2020 (GLOBE NEWSWIRE) — Magna’s roadmap to e-mobility includes technologies showcased in the all-new e4 technology demonstrator car, debuting… Continue reading Paving the Way to Powertrain Electrification
Magna (MGA) Q4 Earnings & Revenues Top Estimates, Down Y/Y
Magna International Inc. MGA delivered adjusted earnings per share of $1.41 in fourth-quarter 2019, beating the Zacks Consensus Estimate of $1.32. Stellar revenues in the Body Exteriors & Structures, Power & Vision and Seating Systems segments led to this outperformance. However, the bottom-line figure declined from the year-ago quarter’s $1.63. The company’s revenues declined 7.3%… Continue reading Magna (MGA) Q4 Earnings & Revenues Top Estimates, Down Y/Y
Renault Twingo ZE Ties With Smart Make It Better Than The ZOE
As expected, the Renault Twingo ZE has finally arrived. It was just a matter of time to see it around, considering its close ties to the Smart Forfour: both share the same platform and are built at the Revoz plant in Novo Mesto, Slovenia. What most did not see coming was that these ties will… Continue reading Renault Twingo ZE Ties With Smart Make It Better Than The ZOE