- Volkswagen pumps two billion euros into China electric vehicle bet – Reuters: Volkswagen AG plans to boost its electric push in China, the world’s biggest auto market, by pumping 2.1 billion euros (1.9 billion pounds) in two Chinese electric vehicle players.
- Japan backs nearly a third of $6.6 billion loans to Nissan – sources – Reuters: Japan backs nearly a third of $6.6 billion loans to Nissan – sources
- Nissan to withdraw from South Korea by end of 2020 – Just-Auto: Nissan Motor said it plans to withdraw from the South Korea market by the end of the year due to falling sales, as part of a broader global restructuring plan which is expected to result in some 20,000 job losses worldwide.
- Alpine could become electric-only performance brand – Autocar: Alpine A110 Renault set to review future of sports car brand – and Autocar understands a…
- UK car production plummets 99.7% in April – Autocar: Nissan’s Sunderland plant plays a major role in UK car manufacturing UK lockdown dramatically …
- Renault poised to announce 15,000 layoffs worldwide – union – Reuters: French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales, a representative for the CFDT union said after meeting with the company.
- Bentley names VW tech chief as new engineering boss – Autocar: Bentley Matthias Rabe to replace Seat-bound Werner Tietz as engineering chief in major VW Grou…
- BMW Looks to Add Incentives to Workers to Help Cut 5,000 Jobs – Bloomberg: BMW Looks to Add Incentives to Workers to Help Cut 5,000 Jobs
- Nissan recovery plan seen as start of long journey by investors – Nikkei:
- Cabrio clash: Porsche Boxster Spyder vs Jaguar F-type R vs Mazda MX-5 – Autocar: Three great roadsters from Jaguar, Mazda and Porsche embark on a road trip to the Isle of Skye to…
- Scania board withdraws dividend proposal – Just-Auto: Scania’s board has unanimously decided to withdraw the dividend proposal to the annual shareholder meeting.
- Coronavirus latest: Renault to slash 14600 jobs in €2bn cost cutting plan – FT: Coronavirus latest: Renault to slash 14600 jobs in €2bn cost cutting plan
- China’s Geely raises $836 million from share sale – Reuters: Geely Automobile Holdings Ltd said on Friday it raised HK$6.48 billion ($836 million) from a share placement as the Chinese automaker looks to replenish its coffers to finance growth in the world’s largest auto market.
- Renault to restructure French factories in high-stakes reboot plan – CNBC: A logo of Groupe Renault stands outside its headquarters building on February 17, 2019 in Boulogne-Billancourt, near Paris, France. Yuriko Nakao | …
- Tesla sent 20 staffers to SpaceX, Elon Musk’s other company, filing shows – CNBC: Elon Musk runs both Tesla and SpaceX, and a new filing reveals that the companies are increasingly working together.
- Nissan Shares Fall as Turnaround Spending Leads to Massive Loss – Bloomberg: Nissan Shares Fall as Turnaround Spending Leads to Massive Loss
- GM to recall most of its hourly workers, restarts Arlington plant – Freep: GM to restart two key plants Monday as well as add shifts to its SUV and pickup assembly plants to ramp up production to meet consumer demand.
- GM Plans to Ramp Up Plants With Dealers Running Low on Pickups – Bloomberg: GM Plans to Ramp Up Plants With Dealers Running Low on Pickups
- GM to increase North America vehicle production – Reuters: General Motors said on Thursday it would start increasing vehicle production in North America from next week to meet rising demand.
- Italy’s credit agency SACE approves state guarantees for FCA $7 billion bank loan – Reuters: The board of Italy’s export credit agency SACE has approved state guarantees covering 80% of a 6.3 billion euro ($7 billion) bank loan for Fiat Chrysler , a source close to the matter said on Thursday.