The owner of Vauxhall says its Luton plant will make the new Opel/Vauxhall Vivaro vehicle in a decision that will safeguard 1,400 jobs. The new Vivaro van replaces the current model from 2019 and the plant’s capacity is expected to increase to 100,000 vehicles a year. PSA Group, which owns Vauxhall, did not say how… Continue reading Vauxhall owner hands boost to Luton plant
Tag: Strategy
Volkswagen picks partners for $25bn battery orders in electric cars push
Volkswagen has picked partners to provide battery cells and related technology worth around €20 billion ($25bn) for its growing electric car programme, adding further pressure on US pioneer Tesla. Until its “dieselgate” emissions scandal was revealed two-and-a-half years ago, Europe’s largest automaker had been slow to embrace electric cars. But the fraud prompted a strategic… Continue reading Volkswagen picks partners for $25bn battery orders in electric cars push
WRAPUP 8-China strikes back with duties on U.S. soybeans, planes; markets drop
BEIJING/WASHINGTON (Reuters) – China hit back quickly on Wednesday against U.S. plans to impose tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key American imports including soybeans, planes, cars, beef and chemicals in a move that sent global markets lower. Beijing responded after U.S. President Donald Trump’s administration… Continue reading WRAPUP 8-China strikes back with duties on U.S. soybeans, planes; markets drop
CORRECTED-UPDATE 3-GM to drop monthly U.S. vehicle sale reports
(This version of the April 3rd story corrects to delete reference to Brazil in second paragraph) A partially assembled Chevrolet 2017 Sonic is seen on the assembly line at GM Orion Assembly plant in Orion, Michigan, U.S., June 13, 2017. REUTERS/Rebecca Cook By Joseph White DETROIT (Reuters) – General Motors Co (GM.N) said on Tuesday… Continue reading CORRECTED-UPDATE 3-GM to drop monthly U.S. vehicle sale reports
The new joint venture of Continental and Osram will enter 500 million annually
Posted 04/04/2018 13: 35: 01CET MUNICH (GERMANY), 4 Apr (EUROPA PRESS) – The manufacturer of components for the Continental car has reached an agreement with the technological company Osram for the creation of a ‘joint venture’ that will combine the experience of both firms in lighting, light control and electronics, and will employ 1,500 employees,… Continue reading The new joint venture of Continental and Osram will enter 500 million annually
PSA will invest 100 million euros in the UK
PSA pursues its strategy on vans launched with its subsidiary Opel / Vauxhall, recently acquired. After the synergies put in place in Spain and Portugal, the group claims to be the European leader in light commercial vehicles (LCVs) and will invest around 100 million euros at its Luton site in England. The objective: to increase… Continue reading PSA will invest 100 million euros in the UK
(2nd LD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates
(ATTN: ADDS details throughout) SEOUL, April 4 (Yonhap) — Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., said Wednesday it has acquired more than US$1 billion worth of stocks in three major affiliates of Hyundai Motor Group, and asked for more efforts to improve corporate governance by the group. The… Continue reading (2nd LD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates
(LEAD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates
(ATTN: ADDS Hyundai’s response in 4th para) SEOUL, April 4 (Yonhap) — Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., said Wednesday it has acquired more than US$1 billion worth of stocks in three major affiliates of Hyundai Motor Group, and asked for more efforts to improve corporate governance by… Continue reading (LEAD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates
Tesla: Our Model 3 electric-car production line may beat Henry Ford's
CLOSE Elon Musk success with the Falcon Heavy reusable rocket, with a Tesla Roadster heading toward out to space, reveals his grand plan for colonizing Mars. USA TODAY Tesla CEO Elon Musk. (Photo: PETER PARKS, AFP/Getty Images) Facing scrutiny over its manufacturing capability, Tesla said Tuesday that production of its Model 3 electric car is… Continue reading Tesla: Our Model 3 electric-car production line may beat Henry Ford's
UPDATE 3-GM to drop monthly U.S. vehicle sale reports
DETROIT (Reuters) – General Motors Co (GM.N) said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market and the company will, instead, issue quarterly sales reports. A partially assembled Chevrolet 2017 Sonic is seen on the assembly line at GM Orion Assembly plant in… Continue reading UPDATE 3-GM to drop monthly U.S. vehicle sale reports