Nissan, like its partner Renault, is at a turning point in its history. The Japanese manufacturer, whom the coronavirus crisis surprised even while it was going through a serious financial crisis, announced at the end of May a net loss of 6 billion euros on its last financial year, as well as a vast transformation… Continue reading Makoto Uchida: “Nissan and Renault must support each other, provided the competitiveness is there”
Tag: Mitsubishi
Why closing car plants in France is a long and painful process – Automotive News Europe
On purely business grounds, Renault could do without its plant in Maubeuge. Like its sister factory, 75 kilometers (47 miles) away in Douai, the plant opened nearly half a century ago as part of a government effort to stem the decline of France’s northern industrial coal belt. Production at the two sites is now at… Continue reading Why closing car plants in France is a long and painful process – Automotive News Europe
Groupe Renault : Finalization of a €5 Billion Credit Facility Agreement With a Guarantee of the French State
PRESS RELEASEGROUPE RENAULT ANNOUNCES THE FINALIZATION OF A €5 BILLION CREDIT FACILITY AGREEMENT WITH A GUARANTEE OF THE FRENCH STATEBoulogne-Billancourt, on June 3rd, 2020 – Groupe Renault announces the finalization of a credit facility agreement with a banking pool, for a maximum total amount of €5 billion benefiting from a guarantee of the French State.This… Continue reading Groupe Renault : Finalization of a €5 Billion Credit Facility Agreement With a Guarantee of the French State
Nissan: UK factory still under threat from no-deal Brexit
Media playback is unsupported on your device The UK’s largest car manufacturing plant is “unsustainable” if the UK leaves the European Union without a trade deal, owner Nissan says. The Japanese company’s global chief operating head told the BBC people had to understand the EU was the Sunderland factory’s biggest customer. Ashwani Gupta said that… Continue reading Nissan: UK factory still under threat from no-deal Brexit
Vertu Motors announces acquisition intention in 2019 financial results
Vertu Motors declared an intention to add new manufacturer partners as it grows through acquisition in a 2019 results statement following its first two days of showroom trading since the COVID-19 lockdown. Group chief executive, Robert Forrester, told AM “there’s no point being pessimistic” as he discussed the results of the group’s financial year to… Continue reading Vertu Motors announces acquisition intention in 2019 financial results
Indonesian decacorn Gojek snags funding from Facebook, PayPal
Southeast Asian ride-hailing decacorn Gojek has secured an unspecified amount of investment from Facebook and PayPal as part of its Series F funding round. Gojek’s existing backers Google and Tencent have also topped their investments in the company, according to an official statement. The latest capital injection has brought the company’s Series F round to… Continue reading Indonesian decacorn Gojek snags funding from Facebook, PayPal
Lancia Delta Integrale Will Start E-Retrofit Premium Series And Become An EV
While some car collectors are at ease in turning their classic vehicles into EVs, others classify that as heresy. The former often use these machines as daily drivers, and they do not want to give them up due to traffic restrictions such as the ones that London or Paris already have in place. These are… Continue reading Lancia Delta Integrale Will Start E-Retrofit Premium Series And Become An EV
Mitsubishi Corporation and NTT complete acquisition of 30% stake in HERE Technologies
June 2, 2020Amsterdam and Tokyo – HERE Technologies today announced that Mitsubishi Corporation (MC) and Nippon Telegraph and Telephone Corporation (NTT) of Japan have completed their joint acquisition of a 30% ownership stake in the company, after receiving regulatory approvals.HERE welcomes MC and NTT as strategic investors. The two companies have co-invested in HERE via… Continue reading Mitsubishi Corporation and NTT complete acquisition of 30% stake in HERE Technologies
Renault cuts 15,000 jobs in major restructuring
Renault is cutting 15,000 jobs worldwide as part of a €2bn (£1.8bn) cost-cutting plan after seeing sales plunge because of the virus pandemic. “This plan is essential,” said interim boss Clotilde Delbos, who announced a bigger focus on electric cars and vans. Some 4,600 jobs will go in France, and Renault has said six plants… Continue reading Renault cuts 15,000 jobs in major restructuring
Alpine A110 sports car plant under review as Renault seeks cost cuts – Motor Authority
Renault and its alliance partners Nissan and Mitsubishi are in crisis mode and looking to scale back operations to help stem losses that were piling up well before the Covid-19 coronavirus pandemic hit. On Friday, Renault announced a major restructuring that has seen six plants placed under review and 14,600 jobs worldwide placed on the… Continue reading Alpine A110 sports car plant under review as Renault seeks cost cuts – Motor Authority