Nissan governance panel observes no need to overhaul alliance agreement
The external committee tasked with enhancing governance at Nissan Motor believes the company can deepen ties with Renault SA without overhauling the broader alliance agreed almost two decades ago, a person knowledgeable with the matter stated. At the committee’s latest meeting held recently, members were at a “near consensus” to suggest stronger roles for outside
- Published in Nissan
U.S. SEC sues Volkswagen, ex-CEO over emissions scandal
The U.S. Securities and Exchange Commission (SEC) is taking legal action against Volkswagen and its former CEO Martin Winterkorn over the German automaker’s diesel emissions scandal, accusing of a “massive fraud” on U.S. investors. VW was caught using illegal software to evade U.S. pollution tests in 2015, causing a global backlash against diesel that and
- Published in Volkswagen
Honda states any Brexit delay must be long enough to provide stability
Japanese automaker Honda stated any delay to Brexit must be long enough to provide businesses stability whilst BMW is still planning for a “worst-case scenario” no-deal Brexit after lawmakers backed delaying Britain’s exit from the EU. The country’s car sector, which employs over 850,000 people, has quickly gone from a manufacturing success story to posting
- Published in Honda
Making Flying With Kids Stress Free
When travelling with children you always have to consider how you will entertain them. Travelling with children of any age may require some careful consideration. Take, for example, you are going to go on a flying holiday with your children. The airline themselves may offer some form of on-board entertainment however, you could do with
- Published in Etc.
Ford to cut over 5,000 jobs in Germany, others in UK
U.S. automaker Ford plans to slash over 5,000 jobs in Germany and will decrease its workforce in Britain as well as it seeks to return to profit in Europe, the company stated on Friday. Ford has provided voluntary redundancy programs for workers in Germany and Britain, it stated in a statement. This is part of
- Published in Ford
Signa, RFR Holding buy New York’s Chrysler Building
Austrian real estate company Signa Holding and New York-based real estate developer RFR Holding LLC have bought Manhattan’s iconic Chrysler Building, Signa stated on Friday. Signa and RFR entered into a joint venture to acquire the asset from Abu Dhabi Investment Council and Tishman Speyer, Signa said. Reuters previously in March reported that Signa and
- Published in Chrysler
Renault pushes back decision over Carlos Ghosn’s 2018 pay
French automaker Renault stated on Friday that it had decided to push back a decision about the 2018 pay package for former boss Carlos Ghosn. “The board of directors will meet again in April to make its conclusions,” stated Renault. Recently, Renault and Japan’s Nissan stated they would retool the world’s top automaking alliance to
- Published in Renault
Ford CEO Jim Hackett earned $17.1 million in 2018
Ford Motor CEO Jim Hackett earned salary, bonus and stock awards of $17.1 million in last year, up from $16.3 million the previous year, while adjusted pretax profit for the car manufacturer dropped $2.6 billion from 2017, the company stated on Friday. Including pensions and perks, Hackett made $17.7 million. The company stated Hackett, who
- Published in Ford
BMW and Daimler seek savings from shared platforms
BMW and Daimler are in talks to work together in developing vehicle platforms for electric vehicles in a step that could save each automaker at least 7 billion euros ($7.91 billion), Sueddeutsche Zeitung and Auto Bild stated on Thursday. The two premium automakers already have a joint procurement program and are now extending their alliance
General Motors considers options for its Lyft stake following IPO
As Lyft Inc cruises toward an initial public offering in March, one of the big winners is going to be General Motors, whose stake in the ride-hailing firm could cost as much as $1.27 billion. GM is not discussing about its plans for that investment, and investors surveyed by Reuters, owning a collective 35.7 million
- Published in General Motors
Scania sees China rebound, braces for Brexit hit to UK orders
Volkswagen-owned truckmaker Scania stated on Thursday that demand in China had bounced back since the beginning of this year, but it was bracing for a potentially major drop in UK orders if Britain departs the EU under a “hard” Brexit. Scania is part of Volkswagen’s Traton truck unit, whose planned initial public offering in April
- Published in Volkswagen
Volkswagen can face U.S. SEC lawsuit concerning emissions cheating
Volkswagen stated the U.S. Securities and Exchange Commission may sue the automaker due to its failure to reveal its diesel emissions scandal to investors. VW said in its annual report released previously this week that the SEC investigation focuses on the automaker’s nondisclosure of “certain Volkswagen diesel vehicles’ noncompliance” with U.S. emissions regulations. Volkswagen has
- Published in Volkswagen
Honda states Brexit delay must be purposeful to give stability
Japanese automaker Honda stated any delay to Brexit would be “purposeful” and long enough to provide business stability, after British lawmakers voted to ask a delay to Britain’s departure from the European Union. “We are now looking to the government to deliver a clear, legally certain, path forward to prevent no deal and to reach
- Published in Honda
Tesla reveals Model Y, price starts at $39,000
Tesla Inc revealed its Model Y electric sports utility vehicle on Thursday in California, promising a much-awaited crossover that will see competition from European automakers. CEO Elon Musk stated the compact SUV, built on the same design as the Model 3, would first debut in a long-range version with a range of 300 miles (482
- Published in Tesla
Toyota investing $749 million in five U.S. plants
Toyota Motor stated on Thursday it is going to invest $749 million in five U.S. plants and add 586 jobs as it increases engine production capacity and adds new hybrid models to its lineup. President Donald Trump has prodded Japanese automakers to bring more jobs in the United States as the White House has threatened
- Published in Toyota