Nissan must watch cash given chances of second coronavirus outbreak, says CEO

makoto uchida

Japanese automaker Nissan Motor’s cash situation is “tough” as the coronavirus pandemic has damaged car sales, and the automaker must be careful in the coming months as a second wave of infections may add to liquidity issues, CEO Makoto Uchida informed Reuters on Thursday. “With the coronavirus situation, our cash liquidity is quite tough,” Uchida […]

General Motors, Ford turn to fast-payment programs to aid suppliers

Ford and General Motors

General Motors and Ford Motor are utilizing fast-payment programs set up with financial lenders to help cash-strapped small suppliers survive production shutdowns caused by the spread of the coronavirus pandemic. Keeping small suppliers afloat financially is important for the automakers as they try to resume North American factories and generate cash from sales of large […]

IG Metall alleges Volkswagen’s management of putting jobs at risks

IG Metall

Germany’s biggest labor union IG Metall has criticized Volkswagen on Thursday for a recent advert deemed racist and other “errors”, over management which had damaged the automaker’s reputation and put jobs at risk. The IG Metall union, in an open letter to the automaker’s management and supervisory boards, stated it was shocked by the advert […]

Nissan to start resuming of U.S. auto plants on June 1

Nissan plant in Canton, Mississippi

Japanese automaker Nissan Motor stated on Wednesday it prepares to start resuming its closed U.S. auto manufacturing operations from June 1. Nissan’s vehicle assembly plant located in Canton, Mississippi and powertrain plant in Decherd, Tennessee plant to restart production on June 1, followed by its Smyrna, Tennessee vehicle assembly plant on June 8. The Infiniti […]

Volkswagen in final talks to seal biggest M&A deals in China electric vehicle sector

Volkswagen logo

German automaker Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle companies, two sources said, as the German automaker speeds up its push into the world’s largest auto market for eco-friendlier cars. The firm is poised to purchase 50% of Anhui Jianghuai Automobile Group Holding, the parent of […]