McLaren Holdings Limited (“the Group”) today confirms £70m in additional funding, as part of an ongoing recapitalisation process. The shareholders provided £70m to the Group through equity funding. A broader recapitalisation involving the Group’s existing shareholders to fully fund McLaren’s product development strategy is subject to ongoing shareholder discussion. Further updates on this process will… Continue reading @McLaren: McLaren Group funding update000192
Tag: Strategy
How Honda is turning Ohio into its EV Hub, starting at the site of its first US-made vehicle
Honda is moving forward with the next stages as it gets ready to build electric vehicles in the US. The automaker is setting the stage for its planned EV Hub in Ohio, with plans to transition the Marysville Auto Plant (MAP), where Honda began US production in 1982, to build EVs. Alongside its Japanese peers,… Continue reading How Honda is turning Ohio into its EV Hub, starting at the site of its first US-made vehicle
Europa Wire: Jaguar Land Rover accelerates digital transformation with Tata Technologies partnership000500
Jaguar Land Rover accelerates digital transformation with Tata Technologies partnership (IN BRIEF) Jaguar Land Rover has partnered with Tata Technologies to accelerate its digital transformation strategy. Tata Technologies will provide an integrated Enterprise Resource Planning (ERP) system to streamline and consolidate information across JLR’s core business areas, including manufacturing, logistics, supply chain, finance, and purchasing… Continue reading Europa Wire: Jaguar Land Rover accelerates digital transformation with Tata Technologies partnership000500
Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
People look at the Volkswagen id buzz electric car during the press day at the Los Angeles Auto Show in Los Angeles, California, November 17, 2022. Mike Blake | Reuters Volkswagen on Tuesday announced plans to invest 180 billion euros ($192.6 billion) between 2023 and 2027, with more than two thirds targeting “electrification and digitalization.”… Continue reading Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
GM Mexico truck plant down for a second week due to parts shortage
General Motors Co.’s Mexico light-duty truck plant has been down since last week as the result of an unspecified parts shortage, the automaker confirmed Tuesday. The plant in Silao, Guanajuato, Mexico builds the light-duty Chevrolet Silverado and GMC Sierra. GM’s other truck plants in Flint; Fort Wayne, Indiana; and Oshawa, Ontario, have continued producing trucks. GM… Continue reading GM Mexico truck plant down for a second week due to parts shortage
German FAZ: What VW intends to do with its record investments005442
Lots to do: Volkswagen boss Oliver Blume at the annual press conference in Berlin Image: Reuters The Wolfsburg group is investing many billions of euros in battery cells and electric cars to prepare for the future. But the offensive carries great risks. Volkswagen boss Oliver Blume works at full capacity. On Monday he presented the… Continue reading German FAZ: What VW intends to do with its record investments005442
German Manager Magazin: Volkswagen: Oliver Blume collects top salary002369
Volkswagen is driving forward the electrification of its fleet and intends to invest a total of 180 billion euros by 2027. Two-thirds of this should flow into electrification and digitization, said Europe’s largest car company on Tuesday when the 2022 balance sheet was presented in Berlin. In view of a net liquidity of 43 billion… Continue reading German Manager Magazin: Volkswagen: Oliver Blume collects top salary002369
Navistar Launches International® S13 Integrated Powertrain for Vocational Market
Global integrated powertrain design introduced in the International® HX® Series LISLE, Ill., March 14, 2023 /PRNewswire/ — Navistar has launched the International® S13 Integrated Powertrain for the vocational market. The S13 Integrated Powertrain, developed in collaboration with the TRATON Group, demonstrates advancements in robustness, reliability and performance. This latest announcement showcases a continued commitment to customers… Continue reading Navistar Launches International® S13 Integrated Powertrain for Vocational Market
E Source launches Mobility practice to help utilities take charge of clean transportation
New practice provides the information resources, data solutions, and industry expertise that utilities need to help them plan, execute, and scale their transportation electrification programs and investments BOULDER, Colo., March 14, 2023 /PRNewswire/ — E Source, the leading research, advisory, data science, and solution services provider for the utility industry, today announced the launch of the E Source… Continue reading E Source launches Mobility practice to help utilities take charge of clean transportation
Kongsberg Automotive’s full-year results in line with guidance, despite strong headwinds from inflation, supply-chain challenges, and slower recovery from the COVID-related lockdowns in China.
Zurich, March 14, 2023: Kongsberg Automotive ASA (“Kongsberg Automotive”) has published its results for the fourth quarter and full year 2022. The results are in line with the most recent guidance and show resilience in the face of another year with difficult market conditions. For the fourth quarter, revenues and EBIT increased compared to the… Continue reading Kongsberg Automotive’s full-year results in line with guidance, despite strong headwinds from inflation, supply-chain challenges, and slower recovery from the COVID-related lockdowns in China.