Tag: Tier 1 Suppliers

Edited Transcript of BWA earnings conference call or presentation 6-May-20 1:30pm GMT

Q1 2020 BorgWarner Inc Earnings Call Auburn Hills May 6, 2020 (Thomson StreetEvents) — Edited Transcript of BorgWarner Inc earnings conference call or presentation Wednesday, May 6, 2020 at 1:30:00pm GMT TEXT version of Transcript ================================================================================ Corporate Participants ================================================================================ * Frédéric B. Lissalde BorgWarner Inc. – President, CEO & Director * Kevin A. Nowlan BorgWarner… Continue reading Edited Transcript of BWA earnings conference call or presentation 6-May-20 1:30pm GMT

Magna Announces First Quarter 2020 Financial Results

Sales of $8.7 billion decreased 18%, compared to global light vehicle production down 27%Estimated COVID-19 impacts of approximately $1.1 billion on sales, $250 million on income from operations before income taxes and Adjusted EBITCash from operations of $639 million, an 8% increase over the first quarter of 2019AURORA, Ontario, May 07, 2020 (GLOBE NEWSWIRE) —… Continue reading Magna Announces First Quarter 2020 Financial Results

Autoparts firm Yazaki cutting thousands of jobs in Mexico

MEXICO CITY, May 6 (Reuters) – U.S. autopart maker Yazaki North America, part of Japan-based Yazaki Group, said on Wednesday it is cutting its Mexico workforce by about 20%, a reduction that will leave the supplier some 58,000 workers as it faces plummeting demand amid the coronavirus pandemic. “Yazaki must adjust its production capacity to… Continue reading Autoparts firm Yazaki cutting thousands of jobs in Mexico

BorgWarner and Delphi Technologies Enter Into Amendment to Transaction Agreement

Resolve Alleged Breach Dispute Remain on Track to Close in Second Half of 2020 AUBURN HILLS, Mich. and LONDON, May 6, 2020 /PRNewswire/ — BorgWarner Inc. (NYSE: BWA) and Delphi Technologies PLC (NYSE: DLPH) today announced that the companies have amended certain terms of the definitive transaction agreement they originally entered into on January 28,… Continue reading BorgWarner and Delphi Technologies Enter Into Amendment to Transaction Agreement

Uber CEO tells employees that it is finalizing layoffs as fears circulate among staff that 4,000 jobs will be cut (UBER)

Uber’s CEO told employees during an all-hands meeting on Tuesday that it was close to finalizing layoffs, saying that plans would be announced within two weeks. Some employees think layoffs could hit next week, with one source telling Business Insider that the company could trim 4,000, including attrition. The company has already slashed jobs at… Continue reading Uber CEO tells employees that it is finalizing layoffs as fears circulate among staff that 4,000 jobs will be cut (UBER)

CORRECTED-UPDATE 2-Intel buys Moovit transit app for $900 mln to help develop robotaxis

JERUSALEM/NEW YORK (Reuters) – Chipmaker Intel Corp (INTC.O) has bought Israeli public transit app maker Moovit for about $900 million to help it develop self-driving “robotaxis” that could take to the streets in early 2022, the company said on Monday. FILE PHOTO: U.S. chipmaker Intel Corp’s logo is seen on their “smart building” in Petah… Continue reading CORRECTED-UPDATE 2-Intel buys Moovit transit app for $900 mln to help develop robotaxis

Intel: Intel Acquires Moovit to Accelerate Mobileye’s Mobility-as-a-Service Offering

SANTA CLARA, Calif., May 4, 2020 – Intel Corporation today announced it has acquired Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900 million ($840 million net of Intel Capital equity gain). Moovit is known for its urban mobility application that offers travelers around the world the best multimodal trip planning by combining public transportation,… Continue reading Intel: Intel Acquires Moovit to Accelerate Mobileye’s Mobility-as-a-Service Offering

Prizewinning Brand Identity: Vitesco Technologies Scores Double Win in Automotive Brand Contest

Winner of the “Brand Design” and “Digital” categories New, modern image covers all channels and is without parallel in the industry Regensburg, May 4, 2020. In the prestigious Automotive Brand Contest 2020 design competition, Vitesco Technologies has scooped not one award for its all-new brand identity but two: The company was named a winner in… Continue reading Prizewinning Brand Identity: Vitesco Technologies Scores Double Win in Automotive Brand Contest

Continental AG Has Decided Not to Present Vitesco Technologies Spin-off at Annual Shareholders’ Meeting

The Executive Board of Continental AG has decided that due to the current market environment, the planned Spin-off of Vitesco Technologies (currently the business area Powertrain) will not be presented for a vote at the upcoming 2020 Annual Shareholders’ Meeting and thus will not take place in this year. The Spin-off will nevertheless continue to… Continue reading Continental AG Has Decided Not to Present Vitesco Technologies Spin-off at Annual Shareholders’ Meeting