Moody’s Investors Service, (“Moody’s”) placed the ratings of Magna International Inc. (Magna) under review for downgrade including its A3 LT Issuer Rating, (P)A3 Senior Unsecured Shelf rating, and A3 Senior Unsecured Notes rating. More specifically, Magna’s exposure to final consumer demand for light vehicles has left it vulnerable to shifts in market sentiment in these… Continue reading Magna International Investments S.A. — Moody’s places Magna’s ratings under review for downgrade
Tag: Contract Manufacturer
Ineos Automotive reveals its Defender-like Grenadier SUV in greater detail – Forma car News
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
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
Automobili Pininfarina CEO Michael Perschke calls it a day
Michael Perschke, CEO of Automobili Pininfarina, which is owned by India’s Mahindra Group, has called it a day at the pure electric luxury car brand. Earlier today, Automobili Pininfarina Chairman and Mahindra & Mahindra Managing Director, Dr. Pawan Goenka, confirmed Perschke’s departure. With immediate effect, Per Svantesson has been appointed to the role of Managing Director and… Continue reading Automobili Pininfarina CEO Michael Perschke calls it a day
All-electric APEX AP-0 hypercar launched in London
APEX, the British sports car manufacturer, has pulled the covers off its all-new, all-electric hypercar – the AP-0. While it carries the outrageous look of the current crop of electrified exotica, including the Lotus Evija, Pininfarina Battista and Rimac C_Two, the AP-0 will be much less expensive: it’ll carry a £150,000 price tag (plus local… Continue reading All-electric APEX AP-0 hypercar launched in London
Benteler and Bosch ink strategic collaboration with Pininfarina
German component suppliers Benteler and Bosch have, earlier this month, joined forces with Italian design house Pininfarina. Designs from Turin will increasingly be visible in electric vehicles as well, specifically in vehicles equipped with the rolling chassis from Benteler and Bosch. This is a modular and scalable platform solution that was developed by both partners.… Continue reading Benteler and Bosch ink strategic collaboration with Pininfarina
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
Revealed: Apex AP-0 electric sports car
The Apex AP-0 is an electric supercar to be engineered and built in the UK and designed by Brit Guy Colborne, known for the Elemental RP1. The AP-0 is described as race-inspired and road legal, and while the model revealed today is a concept, the car is set to make production in late 2022, with prices… Continue reading Revealed: Apex AP-0 electric sports car
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