Renault (RENA.PA), Nissan Motor Co (7201.T) and Mitsubishi Motors Corp (7211.T) ruled out a merger on Wednesday and doubled down on a plan to cooperate more closely on car production to save costs and salvage their troubled alliance. The companies have been hit hard by the coronavirus pandemic just as they were trying to rework […]
Tesla Inc (TSLA.O) has cut prices of its electric vehicles by as much as 6% in North America following a decline in auto demand in the region during weeks of lockdown that have now started to ease. Tesla also said its Supercharger quick-charging service will no longer be free to new customers of its Model […]
Chancellor Angela Merkel told senior members of her party that the German government would not allow the European Commission to deprive Lufthansa (LHAG.DE) of valuable take-off and landing slots at Frankfurt and Munich airports, Handelsblatt reported. “We won’t allow that to happen,” Merkel said according to participants in the meeting, the business daily reported. Merkel […]
Negotiations on a government bailout for coronavirus-stricken airline Lufthansa (LHAG.DE) are in their last phase but have not been concluded yet, a spokeswoman of the German economy ministry said on Monday. A spokesman of the finance ministry added at the regular news conference that his ministry is hoping for an imminent conclusion of the talks. […]
French carmaker Renault (RENA.PA) could unveil job cuts and plants closures on Thursday as the company looks to save 2 billion euros ($2.2 billion) in costs, a representative for far-left union CGT said on Monday. Renault has called for a meeting with unions on Thursday regarding its cost-saving plans, the representative said. “This is when […]
The Mexican unit of Nissan Motor Co Ltd unit said on Monday that it is preparing to gradually reopen under strict safety measures, beginning with activities that are directly related to vehicle and autoparts manufacturing.
The German Finance and Economy Ministries on Monday said Lufthansa (LHAG.DE) was an operationally healthy company before the coronavirus outbreak, as well as profitable and with good future prospects, but had got into trouble due to the pandemic. “The federal government’s stabilisation package takes account of the needs of company as well as those of […]