Auto Business Archives — Page 34 of 46

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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 ...

March 20, 2020 No Responses

Stallion Motors – Hyundai To Unveil Nigeria’s first Electrical Car

By Moses Ebosele, ebosele@hotmail.com — Nigeria is set to join the rest of the World in embracing electric cars before the end of 2020 courtesy Stallion Motors, Nigeria’s leading auto assembler and franchisee of nine Global brands includ...

March 19, 2020 No Responses

Rolls-Royce Suspends Production

Rolls-Royce Motor Cars has announced that it will be suspending production at its Goodwood-based manufacturing plant in response to the coronavirus pandemic. The luxury car manufacturer will suspend production at its Sussex plant from Monday, March 23 for two ...