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 […]
Asian
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 […]
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 […]
Jaguar Land Rover to cut 10% of workforce at Halewood factory in UK
Jaguar Land Rover (JLR) stated on Wednesday it will reduce around 10% of the workforce at its northern English Halewood factory as it modifies shift patterns to boost performance at the site. The factory produces the Range Rover Evoque and Land Rover Discovery Sport vehicles but the Unite Union cautioned that the obstacles facing the […]
Hyundai Motor turns in best quarter since early 2017
Hyundai Motor turned in its best quarterly operating profit in more than two years and stated it was on its way for higher profit margins in 2020, powered by more sales of sport-utility vehicles (SUVs) including the Palisade and Kona. The better-than-expected operating revenues, which fueled an increase in shares, signal measures by Hyundai Motor […]
Toyota to recall 3.4 million vehicles worldwide due to air bags concerns
Toyota Motor stated on Tuesday it is set to recall 3.4 million vehicles worldwide as an electronic defect that can result in air bags not deploying in accidents. The recall, which concerns 2.9 million U.S. vehicles, covers 2011-2019 Corolla, 2011-2013 Matrix, 2012-2018 Avalon and 2013-2018 Avalon Hybrid vehicles and is connected to a reported fatal […]
Hyundai, Kia backs electric van startup Arrival Ltd with $110 million investment
South Korea’s Hyundai Group is backing a UK electric vehicle startup that plans to start selling battery-powered delivery vans in 2021, the companies stated last week. Hyundai Motor and sister firm Kia Motors are making an investment of 100 million euros ($110 million) in Arrival Ltd. Founded in 2015 and based in London, Arrival has […]
Honda is recalling 2.7 million vehicles due to air bag inflator defect
Honda Motor stated on Tuesday it will recall 2.7 million older U.S. vehicles in North America for possibly faulty air bag inflators. The defect concerns a different type of Takata inflator than those that have led the largest-ever auto safety recalls worldwide covering over 42 million U.S. vehicles by 19 automakers with Takata air bag […]
Toyota finishes $1.3 billion modernization project in Indiana factory
Toyota Motor stated on Friday it spent an additional $700 million and added 150 new jobs to finish a $1.3 billion modernization program at its Princeton, Indiana factory. The investment is part of a broader plan from the automaker to invest $13 billion in its U.S. operations for five years through 2021. Along with $1.3 […]
Toyota to shift Tacoma truck production to Mexico from U.S.
Toyota Motor stated on Friday it will shift production of its mid-size Tacoma pick-up truck from the United States to Mexico as it modifies production around North America. The automaker also stated it will put an end to the production of the Toyota Sequoia in Indiana by 2022 as that center focuses on mid-size SUVs […]
China’s Great Wall to buy General Motors plant in India
Chinese automaker Great Wall Motors has agreed to purchase General Motors’ auto plant in India, the companies stated on Friday, as the Chinese automaker expands overseas given slowing domestic demand. The deal, which is expected to be finished by the second half of 2020, will affect Great Wall’s plans to build and sell cars in […]
Carlos Ghosn’s Japanese lawyers quit after he fled to Lebanon
Japanese attorneys representing Carlos Ghosn, including lead lawyer Junichiro Hironaka, nicknamed ‘Razor’, quit on Thursday after the former Nissan chief’s flight to Lebanon from Japan, where he had been facing financial misconduct charges which he has denied. In an emailed statement, Hironaka stated everyone associated with the case at his practice had resigned, according to […]
Renault-Nissan alliance operating board to meet before the end of January
Renault chairman Jean-Dominique Senard stated on Thursday the operating board of the Renault-Nissan alliance is set to meet by the end of January to discuss joint industrial initiatives. Senard refused to go into more details of what these joint projects might be. He said cost savings could be major in the future but did not […]
