Jul 02, 2020
BEIJING -- Jia Yueting, founder of Leshi Internet and electric vehicle maker Faraday Future, said on Thursday his personal bankruptcy process was complete and that a trust would be established to compensate Leshi shareholders. In a stock exchange filing, however, Leshi said it had not heard from Jia regarding a...
Jul 02, 2020
The automaker's North American manufacturing chief said in a letter that employees found to have instigated unapproved shutdowns will face disciplinary action, and stoppages “will result in zero pay.” Workers at two FCA plants last week stopped production over coronavirus concerns.
Jul 02, 2020
Volvo will set up a new stand-alone company to take over Zenuity's development and commercialization of unsupervised autonomous driving software. Veoneer will get IP licenses for advanced driver assistance software as well as $15 million.
Jul 02, 2020
DETROIT — Ford Motor Co.'s second-quarter U.S. light-vehicle sales fell 33 percent, slightly less than most of the industry, as it was battered by the coronavirus pandemic and a massive drop in fleet orders. Sales to daily rental companies plummeted 94 percent during the quarter as demand...
Jul 02, 2020
The automaker reversed a decision to switch to quarterly U.S. sales reporting from a monthly cadence, at least for the remainder of this year.
Jul 02, 2020
The automaker said it will spend $563 million to add production lines for battery modules and electric motors at its largest European factory.