Brussels, 23 June 2020 – In the light of the major economic crisis facing the auto industry due to COVID-19, the European Automobile Manufacturers’ Association (ACEA) has radically revised its 2020 forecast for passenger car registrations down to about -25%. This effectively means that the industry association expects car sales in the European Union to… Continue reading Press Releases – EU car sales forecast 2020: Record drop of 25% expected this year, says ACEA
Tag: Volvo
(LEAD) SsangYong partners with Chinese firm for exports
(ATTN: ADDS ongoing effort to find new investor in last 5 paras) SEOUL, June 19 (Yonhap) — SsangYong Motor Co. said Friday it has signed an initial agreement with Chinese carmaker Songuo Motors Co. to export its Tivoli sport utility vehicle. Under the basic agreement, SsangYong Motor will deliver the Tivoli SUV in the form… Continue reading (LEAD) SsangYong partners with Chinese firm for exports
@Daimler: 18. Jun 2020Green Finance Framework marks the next milestone of Daimler’s sustainable business strategy
Green Finance Framework lays foundation for a broad range of sustainable finance instruments such as green bonds and green loans Daimler meets the increasing investor demand for sustainable investments and opens an additional funding source for Daimler’s sustainable business strategy Green finance instruments allow investors to invest in green projects like the development and production… Continue reading @Daimler: 18. Jun 2020Green Finance Framework marks the next milestone of Daimler’s sustainable business strategy
Geely Automobile steps toward mainland China listing; HK shares surge
BEIJING/SHANGHAI (Reuters) – Geely Automobile Holdings Ltd (0175.HK) said its board has approved a preliminary proposal to list new renminbi shares on mainland China’s Nasdaq-like STAR board, sending its Hong Kong-listed shares up as much as 7% on Thursday. FILE PHOTO: The logo of Chinese carmaker Geely Auto is pictured at the second media day… Continue reading Geely Automobile steps toward mainland China listing; HK shares surge
China’s Geely Automobile moves towards mainland listing
BEIJING/SHANGHAI (Reuters) – Geely Automobile Holdings Ltd (0175.HK) said on Wednesday its board had approved a preliminary proposal for the possible issue of renminbi shares and a listing on mainland China’s Nasdaq-like STAR board. FILE PHOTO: The logo of Chinese carmaker Geely Auto is pictured at the second media day for the Shanghai auto show… Continue reading China’s Geely Automobile moves towards mainland listing
The Volvo Group Takes Measures to Reduce Cost and Accelerate Transformation
GOTHENBURG, Sweden, June 16, 2020 /PRNewswire/ — The COVID-19 crisis is expected to have a negative effect on economic activity in many of the Volvo Group’s major markets in the short and medium term. Volvo has continuously adjusted its operations to lower demand from record levels in the first half of 2019 by utilizing the… Continue reading The Volvo Group Takes Measures to Reduce Cost and Accelerate Transformation
AB Volvo to cut white-collar workforce by 4,100 jobs as pandemic weighs
FILE PHOTO: Martin Lundstedt, CEO of Volvo, presents the company’s first quarter results at a news conference in Stockholm, Sweden April 25, 2017. TT News Agency/Noella Johansson via REUTERS STOCKHOLM (Reuters) – Truck- and construction equipment maker AB Volvo (VOLVb.ST) plans to cut its white-collar workforce by around 4,100 positions during the second half of… Continue reading AB Volvo to cut white-collar workforce by 4,100 jobs as pandemic weighs
China’s Geely Automobile launches share placement of up to $859 million – ETAuto.com
The shares are priced in the HK$10.80-$11.20 range, after 4.44%-7.85% discount to the last closing price of HK$11.72. HONG KONG/BEIJING: China’s Geely Automobile Holdings Ltd has launched an $836 million-$859 million placement of 600 million new shares, according to a term sheet seen by Reuters. The shares are priced in the HK$10.80-$11.20 range, after 4.44%-7.85%… Continue reading China’s Geely Automobile launches share placement of up to $859 million – ETAuto.com
Upstream Expands Series B Funding
HERZLIYA, Israel, June 9, 2020 /PRNewswire/ — Upstream Security announced today that it has secured an expansion of its Series B funding with an investment by Salesforce Ventures. The undisclosed amount is in addition to $30 million previously invested by Alliance Venture Capital (Renault, Nissan, Mitsubishi), Hyundai, Nationwide Insurance, Volvo Group, and others. Upstream offers specialized… Continue reading Upstream Expands Series B Funding
Press Releases – Auto makers and electricity sector call for rapid action on charging points under EU recovery plan
Brussels, 9 June 2020 – The European Automobile Manufacturers’ Association (ACEA) and Eurelectric welcome the focus on infrastructure for electrically-chargeable vehicles in the coronavirus recovery plan announced by the European Commission. The associations support the goal of funding 1 million public charging points referred to in the plan. However, they note that this objective was… Continue reading Press Releases – Auto makers and electricity sector call for rapid action on charging points under EU recovery plan