British car production falls -99.7% in April with 197 units made as coronavirus pandemic closes factories. Car makers instead turn out more than 700,000 pieces of PPE, including face shields, visors and gowns, to support UK’s healthcare workers. Lowest monthly output since Second World War drives year-to-date production down -27.6%, with 121,811 fewer cars built.… Continue reading UK car manufacturing plummets -99.7% in April as coronavirus stops production
Tag: Financial Results
Nissan recovery plan seen as start of long journey by investors
TOKYO — The massive restructuring plans laid out by Nissan Motor that led to its worst loss in 20 years have not dispelled doubts among investors and analysts about whether the Japanese carmaker is now fully on the road to recovery. Nissan is likely to face more restructuring costs, and CEO Makoto Uchida will need… Continue reading Nissan recovery plan seen as start of long journey by investors
NIO Inc. (NIO) Q1 2020 Earnings Call Transcript
NIO Inc. (NIO) Q1 2020 Earnings Call Transcript More Thank you for standing by for NIO Inc.’s first-quarter 2020 earnings conference call. Please go ahead, Rui. On today’s call, we have Mr. William Li, founder, chairman of the board, and CEO; Mr. Steven Feng, chief financial officer; Mr. Stanley Qu, VP of finance. Go to Source
Chinese ride-hailing giant Didi Chuxing rakes in $500m for autonomous driving unit
Chinese ride-hailing giant Didi Chuxing announced on Friday that its autonomous driving subsidiary has raked in $500 million in what is the firm’s first external funding round since Didi created the subsidiary in 2016. Led by SoftBank’s Vision Fund 2 and claimed to be the largest fundraising round in China’s autonomous driving sector, the transaction… Continue reading Chinese ride-hailing giant Didi Chuxing rakes in $500m for autonomous driving unit
Williams considers sale of struggling F1 team
FILE PHOTO: Formula One F1 – Pre Season Testing – Circuit de Barcelona-Catalunya, Barcelona, Spain – February 19, 2020 Williams’ George Russell in action with aero rakes attached to the car during testing REUTERS/Albert Gea LONDON (Reuters) – Williams is considering a sale of its once-dominant but now struggling Formula One team as part of… Continue reading Williams considers sale of struggling F1 team
Autoliv Provides Market and Business Update, Accelerates Mitigating Measures and Enters Loan Facility With Swedish Export Credit Corporation
STOCKHOLM, May 29, 2020 /PRNewswire/ — Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), the worldwide leader in vehicle safety systems, today provides updates on market and company measures to manage the auto industry downturn caused by the COVID-19 pandemic. April virtually at a standstill in Europe and Americas Slow and volatile restart and ramp-up creates efficiency challenges… Continue reading Autoliv Provides Market and Business Update, Accelerates Mitigating Measures and Enters Loan Facility With Swedish Export Credit Corporation
Elon Musk reaches first Tesla compensation award worth nearly $800 million
Tesla CEO Elon Musk has unlocked the first of 12 possible stock option awards from the massive compensation plan he signed in 2018, and it’s worth nearly $800 million. The company disclosed on Thursday that Musk now has the option to buy 1.69 million of its shares because Tesla eclipsed $20 billion in total revenue… Continue reading Elon Musk reaches first Tesla compensation award worth nearly $800 million
Uber: Analysis on Impacts of Driver Reclassification
By Alison Stein, Economist at Uber On May 22nd, California’s state unemployment rate rose to a record 15.5%. Over 2.9 million Californians are out of work, more than during the height of the 2008–2009 recession. However, despite the current economic crisis, the State government is currently pursuing actions that we estimate threaten 158,000 additional work opportunities… Continue reading Uber: Analysis on Impacts of Driver Reclassification
Renault prepares for 15,000 job cuts
Struggling French carmaker Renault is said to be planning 15,000 job cuts around the world as it tries to contain losses amid the pandemic. The move comes as the virus deepens the challenges facing the firm, which saw its first annual loss in a decade last year. The company, which has pledged to cut costs… Continue reading Renault prepares for 15,000 job cuts
German auto supplier ZF Friedrichshafen to cut up to 15,000 jobs: memo
FILE PHOTO: Wolf-Henning Scheider, ZF CEO poses for a portrait at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. September 10, 2019. REUTERS/Wolfgang Rattay/File Photo FRANKFURT (Reuters) – German car parts supplier ZF Friedrichshafen plans to reduce the workforce by up to 15,000 jobs, or around 10%, by 2025 as a result of a… Continue reading German auto supplier ZF Friedrichshafen to cut up to 15,000 jobs: memo