BERLIN/FRANKFURT/MUNICH (Reuters) – Volkswagen (VOWG_p.DE) may have to step up its plans for mass production of electric vehicles in order to meet tougher-than-expected European targets to cut greenhouse emissions from cars, its chief executive said on Tuesday. FILE PHOTO: A car with the Volkswagen VW logo badge is seen on display at the North American… Continue reading UPDATE 2-VW may have to step up electric car plans to meet EU CO2 targets
Tag: Strategy
Ola, Uber’s India rival, invests $100M in scooter rental startup Vogo
We’re familiar with Uber cozying up to scooter startups — it has bought one and invested in another — but over in India, the U.S. firm’s key rival is hatching a major alliance of its own it invested $100 million in scooter rental startup Vogo. Ola first invested back in August when Vogo raised an undisclosed Series… Continue reading Ola, Uber’s India rival, invests $100M in scooter rental startup Vogo
Nissan announces senior management change for North America
YOKOHAMA, Japan – To meet the demands of an increasingly competitive North American market, Nissan Motor Co., Ltd. President and CEO Hiroto Saikawa and Nissan North America Chairman Denis Le Vot have announced Nissan Latin America Chairman Jose Valls is appointed vice chairman, Nissan North America, in charge of U.S. sales and marketing, effective January 2,… Continue reading Nissan announces senior management change for North America
Nissan board holds off picking successor for Ghosn as tensions with Renault brew – BNNBloomberg.ca
Nissan Motor Co.’s (NSANY.PK) board failed to pick a successor for former Chairman Carlos Ghosn, leaving the carmaker without a top official as it enters the fifth week since the car titan’s arrest and faces escalating tensions with partner Renault SA. The directors convened Monday to chart a path forward following the shock arrest of… Continue reading Nissan board holds off picking successor for Ghosn as tensions with Renault brew – BNNBloomberg.ca
Henrik Fisker: ‘We’re keen to set up a tech centre in India, a battery factory and vehicle assembly too.’ – Autocar Professional
The Chairman and CEO of Fisker Inc is one of the world’s most prolific car designers and entrepreneurs and wants to change the paradigm of mobility with non-conformist and extreme electric vehicles. He lays out his vision for the future, which could include make in India through a manufacturing partnership, while also offering top tips… Continue reading Henrik Fisker: ‘We’re keen to set up a tech centre in India, a battery factory and vehicle assembly too.’ – Autocar Professional
Toyota Releases 2018 North American Environmental Report
Goal to Create a More Sustainable Future for Society, Business and the Planet Driven by its Environmental Challenge 2050 December 17, 2018 PLANO, Texas (Dec. 17, 2018) – The Toyota Environmental Challenge 2050 is part of Toyota’s long-term commitment to support and foster a more inclusive and sustainable society. Consisting of six individual challenges, Challenge 2050… Continue reading Toyota Releases 2018 North American Environmental Report
Detention of Nissan’s Ghosn extended through Dec. 20
Detention of Nissan’s Ghosn extended through Dec. 20Tokyo – A Tokyo court ruled Tuesday that Nissan Motor Co.’s former chairman, Carlos Ghosn, and another executive will remain in custody through Dec. 20, more than a month after their arrest. Their detention could continue for months more under the Japanese legal system.
The Tokyo District Court said Tuesday that it had rejected a protest filed by Ghosn’s lawyer against the prolonged detention.
The court decision comes a day after Ghosn, fellow Nissan executive Greg Kelly and Nissan Motor were charged with violating financial laws by underreporting Ghosn’s pay by about 5 billion yen ($44 million) in 2011-2015. They were arrested on Nov. 19 and are being held at a Tokyo detention center.
The extension of their detention is to allow time for investigation into additional allegations prosecutors issued Monday, against Ghosn and Kelly, of underreporting another 4 billion yen ($36 million) in 2016-2018.
The arrest of the man credited with saving Nissan when it was on the verge of bankruptcy two decades ago has stunned many and has raised concerns over the Japanese automaker and the future of its alliance with Renault SA of France.
No trial date has been set, as is routine in Japan. Prosecutors can add more allegations to extend detention, and it remains unclear when Ghosn and Kelly might be released.
The prosecutors say they consider Ghosn and Kelly flight risks.
Ghosn’s legal team has not issued an official statement, but those close to him have said he is asserting innocence. The office of Motonari Ohtsuru, one of the lawyers, declined comment, saying he was not there.
The U.S. lawyer for Kelly, Aubrey Harwell, has said his client insists he is innocent and that Nissan insiders and outside experts had advised him that their financial reporting was proper.
The maximum penalty for violating Japan’s financial laws is 10 years in prison, a 10 million yen ($89,000) fine, or both. The conviction rate in Japan is over 99 percent.
Nissan has said an internal investigation found three types of misconduct: underreporting income to financial authorities, using investment funds for personal gain and illicit use of company expenses.
Nissan, as a legal entity, was also charged Monday. Nissan is not under supervision or being monitored, although it is cooperating with the prosecutors’ investigation, according to company spokesman Nicholas Maxfield. Nissan said in a statement that it takes the indictment “extremely seriously.” It promised to strengthen its governance.
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News – Cutting CO2 from trucks: urgent need to invest in recharging and refuelling infrastructure across EU
Later this week, EU member states are expected to adopt their common position on the EU’s first-ever CO2 standards for heavy-duty vehicles. Ahead of that Council meeting, I would like to call on the 28 national governments to strike the right balance between environmental objectives and the competitiveness of Europe’s truck industry. Message from ACEA’s… Continue reading News – Cutting CO2 from trucks: urgent need to invest in recharging and refuelling infrastructure across EU
Honeywell’s New Trading Business Uses Blockchain Technology To Modernize Buying And Selling Of Aviation Parts
PHOENIX, Dec. 17, 2018 /PRNewswire/ — Honeywell (NYSE: HON) is bringing the ease of everyday online buying and selling to the aviation parts industry with GoDirect™ Trade. The new e-commerce platform will improve access to new and used aircraft parts for airlines, air transport and business aviation customers by offering transparent pricing and the option… Continue reading Honeywell’s New Trading Business Uses Blockchain Technology To Modernize Buying And Selling Of Aviation Parts
Daniela Cavallo now represents VW works council chief Bernd Osterloh: This woman could replace one of the most powerful VW men
Volkswagen works council Volkswagen Works Council member Daniela Cavallo already played an important role in the negotiations on the “Future Pact” Volkswagen works council chief Bernd Osterloh is considered one of the most powerful men in the auto industry. Now, with Daniela Cavallo, a woman comes to his side as new substitute. Thus, the succession… Continue reading Daniela Cavallo now represents VW works council chief Bernd Osterloh: This woman could replace one of the most powerful VW men