Nissan’s three independent board members are going to meet on Tuesday to talk about a replacement for arrested former Chairman Carlos Ghosn, a source knowledgeable with the matter stated. The company earlier stated that the three members would nominate a candidate to take place of Ghosn, who was arrested in November for alleged financial misconduct.
U.S. President Donald Trump stated China had agreed to slash import tariffs on American-made cars, buoying shares in BMW and Daimler who produce in the United States for export to the world’s biggest vehicle market. Shares of Chinese car dealers also perked up on hopes that this move could strengthen the domestic auto market that
Several European nations have either ordered vehicle recalls by automakers over diesel emissions cheating or prepare to do so, German weekly Bild am Sonntag reported without mentioning sources. The paper stated France had identified issues over Nissan’s Juke model along with the Renault Captur and Kadjar models. It also stated the Netherlands has ordered the
Japanese Prime Minister Shinzo Abe informed French President Emmanuel Macron on Friday that the future of the Renault-Nissan alliance depends on private shareholders, a spokesman for the Japanese leader stated. “Prime Minister Abe said regarding the alliance, which is a symbol of Japanese-French industrial cooperation, it is important to preserve a stable relationship,” the spokesman
A U.S. judge in California has okayed preliminary approval to a $48 million settlement for investors who stated Volkswagen AG made incorrect and misleading statements about its excess diesel emissions. Lawyers for the investors, who include police and other municipal pension funds, had calculated that the highest they could have recovered was $147 million. However
General Motors CEO Mary Barra plans to visit Capitol Hill next week to talk about its plans to stop production at five plants in North America in 2019 and slash up to 15,000 jobs, two congressional aides stated on Friday. The automaker has come under criticism from lawmakers from both major political parties, and from
French President Emmanuel Macron met Japanese Prime Minister Shinzo Abe and urged that the Renault-Nissan alliance needs to be preserved, after Chairman Carlos Ghosn’s arrest in Tokyo, an Elysee official stated on Friday. During a bilateral meeting on the sidelines of a G20 meeting of global leaders in Argentina, Abe informed Macron that “the legal
Britain’s biggest retailer Tesco and German automaker Volkswagen have teamed up to develop an electric vehicle charging network in the UK, companies stated on Friday. Under the partnership, Tesco and Volkswagen presented more than 2,400 electric vehicle charging bays throughout 600 Tesco stores in the next three years. Electric cars and other vehicles using alternative
Toyota Motor stated on Friday it would restructure its management executive ranks, consisting hiring new people and shuffling present roles throughout the company. As part of the modifications, Chris Reynolds is going to be the chief administrative officer for North America operations and right now is the executive vice president of the North America unit.
Toyota is ready to buy out PSA Group’s stake in a jointly-managed Czech Republic factory specializing in the production of small vehicles, the companies stated on Friday. The French firm will also provide another model of compact van for its Japanese partner from its Vigo plant located in Spain as of 2019, they added. Toyota
Tokyo officials on Friday extended for another 10 days the detention of eliminated Nissan Motor chairman Carlos Ghosn, who is currently held in Tokyo’s main detention center following allegations against him of financial misconduct, Japanese media stated. Ghosn has been held since November 19 and Japanese officials now have to file charges by December 10.
The U.S. head of Nio Inc, an electric automaker viewed as one of the major Chinese rivals to Tesla Inc, will depart from the company, the firm stated in a filing on Friday, the first major management departure since its September IPO. Padmasree Warrior, CEO of NIO USA and global chief development officer, is going
General Motors President Dan Ammann is going to take over as chief executive of the car maker’s majority-owned Cruise self-driving car subsidiary, trading in the No. 2 job at among the world’s largest automakers for a front-row position in the race to render conventional cars obsolete. Ammann’s move, declared by GM and Cruise on Thursday
Fiat Chrysler plans to invest over 5 billion euros ($5.7 billion) on new models and engines in Italy for the next three years to try to make better use of factories and increase jobs and margins. The plans are meant to deliver on a strategy outlined by FCA’s late CEO Sergio Marchionne in June, in
Britain’s biggest automaker Jaguar Land Rover is to decrease the workforce at its plant in Wolverhampton, central England, by about 500 in a temporary move, it stated on Thursday. The company stated in response to adjustments in vehicle production schedules, the Engine Manufacturing Centre is going to take a temporary pause in production. Maintenance and