Tag: Financial Results

Last Chevrolet Cruze in Ohio built amid GM restructuring

(Reuters) – General Motors Co said the last Chevrolet Cruze rolled off the assembly line Wednesday afternoon at its Lordstown, Ohio, assembly plant, the first of five plants in North America to end production this year and ending U.S. production of the Cruze. A view of the entrance to the West Plant at the General… Continue reading Last Chevrolet Cruze in Ohio built amid GM restructuring

Auto industry woes force bearings maker Schaeffler to cut jobs, shares slump

We started later in electric mobility than others did, but we are working now to catch up: Rosenfeld FRANKFURT: German bearings maker Schaeffler said it would cut 900 jobs, shut plants and reduce its product range after its 2018 earnings slumped due to weak demand in Europe and China and it warned of a challenging… Continue reading Auto industry woes force bearings maker Schaeffler to cut jobs, shares slump

CATL Posts Year-Over-Year Profit Drop

58 M BY GASGOO Growing battery maker reports net profit drop. In 2018, CATL gained RMB29.611 billion in gross revenues with a year-on-year leap of 48.08%, while its net profits attributable to shareholders of the listed company declined 7.71% from the previous year to RMB3.579 billion. Besides, the full-year non-recurring-excluded profits attributable to the listed… Continue reading CATL Posts Year-Over-Year Profit Drop

Bonus for All!

Continental is once again sharing its net profit with all eligible employees worldwide Dr. Ariane Reinhart, Executive Board member for Human Relations: “Everyone has worked for the success, so everyone has also earned a bonus” Bonus is based on the company’s value creation in the past fiscal year Approximately €150 million will be distributed to… Continue reading Bonus for All!

Dax aktuell: Dax starts slightly weaker – Daimler under pressure

Dax panel Also on Ash Wednesday bank stocks remain under surveillance. (Photo: AP) FrankfurtAt Ash Wednesday, equity investors are starting to take a slow approach at the Frankfurt Stock Exchange: the German leading index starts slightly lower at 11,593 points. On Tuesday evening had the Dax closed at 11,621 points and a slight gain of… Continue reading Dax aktuell: Dax starts slightly weaker – Daimler under pressure

Auto parts supplier: Schaeffler increases conversion speed and wants to delete 900 jobs

Assembly in the Schweinfurt factory The European plants are to be rearranged, small parts of the business to be sold. (Photo: Bloomberg) MunichThe pressure on the SchaefflerGroup comes from two sides: On the one hand, the automotive supplier like many competitors suffers from the weak economy in the automotive industry. Last year, the family-owned company… Continue reading Auto parts supplier: Schaeffler increases conversion speed and wants to delete 900 jobs

NIO Inc. Reports Unaudited Fourth Quarter and Full Year 2018 Financial Results

Quarterly Total Revenues reached RMB3,435.6 million (US$499.7 million)(1)Quarterly Deliveries of the ES8 reached 7,980 vehicles Full Year Total Revenues reached RMB4,951.2 million (US$720.1 million)Full Year Deliveries of the ES8 reached 11,348 vehicles (2) SHANGHAI, China, March 05, 2019 (GLOBE NEWSWIRE) —  NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium electric vehicle… Continue reading NIO Inc. Reports Unaudited Fourth Quarter and Full Year 2018 Financial Results

Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b

March 6, 2019 Ride-hailing unicorn Grab has raised $1.46 billion in fresh funding from the SoftBank Vision Fund, bringing the total amassed in its ongoing Series H to $4.5 billion, according to a statement on Wednesday. SoftBank Group Corp is an existing Grab investor. It first bought a stake in Grab for $250 million in… Continue reading Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b

Elon Musk wasn’t wrong about automating the Model 3 assembly line — he was just ahead of his time

In 2017, when Tesla announced incredibly ambitious Model 3 production targets of 5,000 Model 3s per week and the beginning of “production hell,” analysts were wary. But Elon Musk insisted he could pull it off, citing hyper-automation — a robotic assembly line — as his secret weapon to increase manufacturing speed and drive down costs.… Continue reading Elon Musk wasn’t wrong about automating the Model 3 assembly line — he was just ahead of his time