Nissan is to cut hundreds of jobs at its Sunderland car plant, as diesel sales decline. The carmaker builds its Qashqai and Juke models at the north-eastern England site, where it employs 7,000 people. As well as a fall in the demand for its diesel cars, the job losses relate to a switch in production… Continue reading Nissan to cut hundreds of UK jobs
Tag: Strategy
Savari raises $12 million in Series B funding led by Aviva Ventures
Savari, Inc., announced it has raised $12 million in Series B funding, led by Aviva Ventures, the corporate venture capital arm of international insurer Aviva plc. Existing investors SAIC Capital, Flex, and an undisclosed strategic investor also participated in the round. Aviva Ventures, the lead investor in the round, plans to develop autonomous vehicle insurance… Continue reading Savari raises $12 million in Series B funding led by Aviva Ventures
Volkswagen in JV talks with China’s Didi to manage fleet, co-develop cars
April 30, 2018 Volkswagen AG, the world’s biggest automaker, is in talks to form a joint venture with China’s Didi Chuxing to manage part of the ride-hailing company’s fleet of cars and help develop “purpose-built” vehicles for Didi‘s services. As part of the deal between Volkswagen and China’s biggest ride-hailing service, expected to be signed… Continue reading Volkswagen in JV talks with China’s Didi to manage fleet, co-develop cars
Nissan: Nissan announces North American management changes
NASHVILLE, Tenn. – Nissan is making several changes to its management team in North America as the company focuses on the key pillars of its “M.O.V.E. to 2022” midterm business plan. The mission of the six-year plan is to achieve sustainable growth and to lead the technology and business evolution of the automotive industry. Changes… Continue reading Nissan: Nissan announces North American management changes
Battery startup EcoFlow raises over $4m Series A from Chinese investors
April 30, 2018 EcoFlow, a battery startup company based in San Francisco and China, has raised over $4 million Series A from Delia Capital, SCUD Group, Guangzhou Penghui Energy and Chunjia Assets, the company announced on April 27. EcoFlow said it will use the proceeds to expand R&D and sales, further deploy energy storage products, and… Continue reading Battery startup EcoFlow raises over $4m Series A from Chinese investors
Q1 2018 revenue sharp growth
• Consolidated worldwide sales up 44.2% including Opel Vauxhall (OV) with over 1 million vehicles sold1 ;• Groupe PSA revenue up 42.1% at €18.2 billion2 ;• Peugeot Citroën DS (PCD) Automotive division revenue up 13.3% : Strong market share increase in Europe (+0.7 pt)3 ; Successful launches of new models in all regions.• OV Automotive division revenue amounted to €4.8 billion… Continue reading Q1 2018 revenue sharp growth
Elliott reiterates call for holding firm structure for Hyundai Motor Group
SEOUL, April 27 (Yonhap) — Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., on Friday reiterated its demand for a holding company structure for Hyundai Motor Group. In a statement, the U.S. fund called on the Korean automotive group to merge Hyundai Motor Co. and Hyundai Mobis Co. into one… Continue reading Elliott reiterates call for holding firm structure for Hyundai Motor Group
FAURECIA : 2017 registration document
News releaseNanterre (France), April 27, 2018Faurecia 2017 registration documentFaurecia filed its 2017 registration document with the French Autorité des Marchés Financiers on April 26, 2018.It is available for consultation on the corporate website of the Company:www.faurecia.com/en/finance/amf-regulated-informationas well as on the website of the AMF : www.amf-france.org.The registration document contains:the annual financial report ;information on the fees… Continue reading FAURECIA : 2017 registration document
Fitch affirms Tata Motors at BB+; outlook stable
TML‘s sales volume grew by 9% yoy in medium and heavy commercial vehicles and 23% in light commercial vehicles in FY18. New Delhi: Tata Motors (TML’s) rating, which includes a one-notch uplift from its standalone rating of ‘BB’ on its linkage with Tata Sons (TSOL), reflects its position in the Indian commercial-vehicle market and the… Continue reading Fitch affirms Tata Motors at BB+; outlook stable
Audi starts challenging year with successful first quarter
In the first quarter of 2018, the Audi Group surpassed its revenue and operating profit of the prior-year period. The operating return on sales of 8.5 percent was once again within the strategic target corridor. This year, the brand with the Four Rings will launch more new models than ever before in the company’s history,… Continue reading Audi starts challenging year with successful first quarter