French prosecutors are probing a party which former Renault-Nissan chairman Carlos Ghosn threw for his wife at the sumptuous Versailles palace will in the next few weeks ask judges to examine the case, bringing a prosecution a step closer. Prosecutors have been checking whether Ghosn – currently in Lebanon after he fled from Japan on […]
New regulations could bump emotional-support animals from planes
The times of passengers bringing their pets on airplanes as emotional-support animals could be seeing its end soon. The U.S. Department of Transportation on Wednesday proposed that only specially trained dogs eligible as service animals, which must be permitted in the cabin at no charge. Airlines could prohibit emotional-support animals including untrained dogs, cats and […]
Tesla overtakes Volkswagen as second most valuable automaker globally
American automaker Tesla Inc has overtaken Germany’s Volkswagen AG as the world’s second most valuable automaker behind Japan’s Toyota Motor, as the meteoric increase in the U.S. electric vehicle maker’s shares reshuffles the international market. Tesla’s stock has more than doubled in value in these three months, with its market capitalization reaching $100 billion on […]
U.S. regulator to review the complaint against Mahindra
A U.S. regulator stated it will review part of a recommendation made last year that Indian automaker Mahindra and Mahindra infringed upon the intellectual property rights of Fiat Chrysler Automobiles’ Jeep SUV design. The International Trade Commission (ITC) stated it would take a look into administrative law judge’s initial determination last November that Mahindra’s Roxor […]
Jeep, Suzuki models found to have broken EU emissions regulations
Fiat Chrysler’s Jeep Grand Cherokee and Suzuki’s Vitara diesel models both breach emissions rules and must be fixed or be subjected to the ban on sales across Europe, the Dutch road authority ruled on Thursday. The RDW authority, acting as the reference regulator throughout the European Union, stated Jeep had developed a software repair and […]
WWII-era ammunition found at Tesla gigafactory site
Officials in Germany say 85 kilograms (187 pounds) of World War II ammunition have been discovered on the site where Tesla prepares to build its first factory in the entire continent. Local newspaper Maerkische Oderzeitung quoted authorities in Brandenburg on Wednesday saying that they estimate about 25 unexploded bombs could be discovered at the partially […]
Peugeot merger talks progressing well, says CEO Michael Manley
Fiat Chrysler’s CEO Michael Manley stated on Wednesday that merger talks with Peugeot owner PSA to form the world’s No. 4 automaker are progressing well and he hopes to have a deal completed under 12-14 months. Discussing with Reuters on the sidelines of an industry meeting, Manley said he doesn’t expect any major hindrance that […]
French anti-corruption agency carries out checks on Renault
Renault on Wednesday stated France’s anti-corruption agency was conducting checks at the company, though a source at the automaker, which was rocked by the arrest of former executive Carlos Ghosn, stated the inspection was a routine matter. French magazine Challenges was first to report the inspection though the report lacked further details. There was no […]
Ford expects $2.2 billion pre-tax loss related to employees pension plans
Ford Motor stated on Wednesday its fourth-quarter results will be impacted by a pre-tax loss of about $2.2 billion because of higher contributions to its employees pension plans. The charge is heavily related to a fall in discount rates, the company stated, as that results in an increase in the amount of money to be […]
Canadian judge approves $149 million fine against Volkswagen over diesel emissions
A judge in Canada has approved a C$196.5 million ($149.7 million) fine against Volkswagen AG on Wednesday once the company pleaded guilty to dozens of counts of diesel emissions infractions. Volkswagen was charged in December with importing almost 128,000 vehicles into Canada breaching emissions standards. VW pleaded guilty after being charged with 60 counts of […]
Toyota union to seek smaller pay increase in 2020 compared to last year
Toyota Motor’s labor union prepares to seek an average pay increase of 10,100 yen ($91.98) per month in wage negotiations this year, public broadcaster NHK reported on Thursday. The demand for a pay increase is 600 yen less than the increase granted last year. The smaller request by the corporate bellwether could be a setback […]
Elliott Management sells stakes in Hyundai Motor companies
Elliott held over $1 billion worth of shares in the company. Elliott Management sold its shares in Hyundai Motor companies last year after it was thwarted in its campaign for huge special dividends and board seats. The U.S. activist hedge fund was not one of the December 2019 year-end list of shareholders at any of […]
2021 Chevrolet Corvette Z06 prototype spotted
Right now we must be far away from the official release of 2020 Chevrolet Corvette Stingray, but the next model in the Corvette lineup has been caught in the camera. What is believed to be the track-focused Z06 version of the first mid-engine Corvette was recorded by a bystander while being tested on a winding California mountain highway near […]
US threatens to increase tariffs on UK car exports
Treasury Secretary Steven Mnuchin stated Wednesday that the United States would think about imposing tariffs on cars made in the United Kingdom if the country moves forward with a tax on digital services. Mnuchin stated at the World Economic Forum in Davos, Switzerland that the United States treats digital services taxes such as the one […]
Tesla achieve $100 billion stock market valuation in extended trading
Tesla Inc became the first $100 billion publicly listed American automaker in extended trading on Tuesday, in a sign of Wall Street’s confidence in an all-electric future. The milestone comes less than a month when Tesla’s stock crossed $420, the infamous price at which CEO Elon Musk had tweeted he would take the electric automaker […]
