Category: Auto

Auto Sector Faces Biggest Crisis In 13 Years
March 31, 2020 No Responses

Auto Sector Faces Biggest Crisis In 13 Years

The automotive sector is facing its biggest challenge since the 2007-2009 financial crisis with 97% of light vehicle (LV) manufacturing plants in Europe and North America temporarily shut down.Already, key players in the sector are negotiating financial life line and...
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Hyundai Seals Joint Venture As Heir Apparent Acquires 139,000 Shares
March 31, 2020 No Responses

Hyundai Seals Joint Venture As Heir Apparent Acquires 139,000 Shares

South Korean auto giant,  Hyundai Motor Group has joined hands with auto parts manufacturer Aptiv to form a joint venture that will develop autonomous driving technology. in a statement, the company explained that the two companies will have a 50-50...
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Toyota Seeks $9b Credit Line From Two Banks
March 31, 2020 No Responses

Toyota Seeks $9b Credit Line From Two Banks

Toyota Motor Corp. is seeking a 1 trillion yen ($9 billion) line of credit from Sumitomo Mitsui Banking Corp. and MUFG Bank Ltd as the Coronavirus pandemic is intensifying across the world. Agency reports indicates that  although Japan’s biggest automak...
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Daimler Negotiates $11.03b Credit Line
March 29, 2020 No Responses

Daimler Negotiates $11.03b Credit Line

Daimler is in talks with lenders for a credit facility of at least 10 billion euros ($11.03 billion) to help the car company cope with the coronavirus outbreak.  According to Bloomberg, an announcement on the final amount could come as...
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Volkswagen: Car Market To Recover In Summer
March 29, 2020 No Responses

Volkswagen: Car Market To Recover In Summer

Volkswagen expects the car market in Germany to recover in the summer after the auto maker was forced to suspend output due to the coronavirus pandemic.. “We assume that Germany will return to normal in the summer,” Juergen Stackmann, management...
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Kia Appoints New President
March 28, 2020 No Responses

Kia Appoints New President

The South Korean carmaker, Kia Motors Corporation on Friday appointed Ho-sung Song as the President of the organisation. Song who was earlier heading Global Operations Division will now spearhead the advancement of ‘Plan S’, the company’s mid- to long-te...
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COVID-19: Coscharis Scales Down Lagos Operations
March 26, 2020 No Responses

COVID-19: Coscharis Scales Down Lagos Operations

Following the recent global outbreak of the Corona virus that has been declared as pandemic by the World Health Organization, Coscharis Group is urging all her customers, staff and stakeholders not to panic but take precautionary and safety measures as...
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Auto Firms To Converts Factories To Make Ventilators
March 25, 2020 No Responses

Auto Firms To Converts Factories To Make Ventilators

Car firms are answering calls from governments to help make more ventilators and face masks to help out during the coronavirus pandemic. Already, Fiat has commenced converting one of its car plants in China to start making about one million...
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COVID-19: Kia Nigeria Deploys Measures To Protect Employees, Customers
March 25, 2020 No Responses

COVID-19: Kia Nigeria Deploys Measures To Protect Employees, Customers

The management of Kia Motors Nigeria has joined  responsive corporate entities across the country to restrain the spread of COVID-19.   Rooted in the practice advised by the World Health Organisation [WHO] and National Center for Disease Control [NCD...
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Covid-19: Toyota Employee Tests Positive
March 24, 2020 No Responses

Covid-19: Toyota Employee Tests Positive

Toyota Motor Corporation has confirmed that one of its employee in his 20’s working as a line worker at the company’s Takaoka plant, based in Aichi prefecture, Japan has been found infected with Covid-19. In a statement, the  company explained...
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Suzuki Halts Operations
March 24, 2020 No Responses

Suzuki Halts Operations

India’s largest carmaker Maruti Suzuki has shut down all its operations including production in Gurugram and Manesar until further notice.  In a statement, the company explained that R&D Centre at Rohtak will also remain closed, adding that prod...
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EU Auto Industry Faces Crisis
March 23, 2020 No Responses

EU Auto Industry Faces Crisis

The effect of the coronavirus on society and the global economy is unprecedented, with grave consequences for the automobile industry. Indeed, most of the members of the European Automobile Manufacturers’ Association (ACEA) have already announced temporary c...
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Japanese Automakers Close More Plants In Europe
March 21, 2020 No Responses

Japanese Automakers Close More Plants In Europe

Japanese automakers to temporarily close more vehicle plants in Europe and Asia as the spread of the coronavirus prompts countries to instruct non-essential businesses to suspend operations. A growing number of global automakers have been shuttering plants in ...
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Electric Cars: NADDC Lauds Stallion Motors-Hyundai Initiative
March 20, 2020 No Responses

Electric Cars: NADDC Lauds Stallion Motors-Hyundai Initiative

By Moses Ebosele, ebosele@hotmail.com The Director General, National Automotive Design and Development Council (NADDC), Jelani Aliyu,MFR, has commended resolve by the management of Stallion Motors-Hyundai to introduce electric cars in Nigeria before the e...
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