EU regulators to decide on $50 billion Fiat and Peugeot deal by June 17

FCA Peugeot

EU antitrust regulators will make a decision by June 17 whether to clear Fiat Chrysler and Peugeot maker PSA’s $50 billion merger, according to a European Commission filing on Monday. The companies declared the deal to form the world’s fourth biggest automaker in December, putting under one roof the Italian company’s brands including Fiat, Jeep, […]

China auto sales mark first gain in nearly 2 years as restrictions ease

china cars

China’s monthly auto sales increased for the first time in nearly two years in April, industry data revealed, as more customers visited showrooms after the economy started to open up and officials eased coronavirus-related travel restrictions. Auto sales in April hit 2.07 million units in the country, increasing 4.4% from a year earlier according the China Association of Automobile Manufacturers (CAAM), […]

Mazda seeks $2.8 billion in loans to survive during coronavirus crisis

Images of 2017 Mazda MX-5 Miata RF

Mazda Motor has sought loans amounting to about 300 billion yen ($2.8 billion) from Japan’s three megabanks and other lenders to survive during coronavirus epidemic, a source with direct knowledge of the matter stated on Saturday. The megabanks such as Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group together with the Development […]

Uber restarts operations in Green, Orange zones in India

Uber Technologies Inc

Uber Technologies has resumed services in green and orange zones in the country, its CEO Dara Khosrowshahi said as the ride-hailing company observes “some green shoots” after lockdowns hit ride hailing businesses worldwide. Areas designated as Green and orange zones, where the spread of Covid-19 infections is largely under control, represent more than 80% of India’s 733 districts, […]

Michigan governor Whitmer allows manufacturers to reopen on May 11

Detroit Michigan

Michigan Governor Gretchen Whitmer on Thursday stated the state’s factories can resume on May 11, removing one of the last significant obstacles to North American automakers bringing thousands of laid-off workers back to work while the coronavirus continues to spread. While resume the manufacturing sector, Whitmer also extended her state’s stay-at-home order by about two […]