Capital raised by the transaction will go toward general operations and sustaining technology platforms amid the wholesale sector's recovery from the coronavirus pandemic.
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The cuts will impact jobs across the group's applied, automotive and racing businesses, the company said.
Continue Reading the above article 'McLaren to cut 1,200 jobs due to coronavirus pande...
Advisory companies representing BMW investors are demanding better oversight at the automaker, which has set aside $1.5 billion for an expected EU cartel fine.
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The loan would be Europe's biggest government-backed financing to an automaker since the start of the coronavirus pandemic, Bloomberg reported.
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Uncertainty about the pandemic underscores the alliance's midterm plans. Even as Renault, Nissan and Mitsubishi settle on new future targets, a second wave of COVID-19 shutdowns still could throw their plans off course.
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The move follows a rescue of the British automaker led by Canadian businessman Lawrence Stroll, who became Aston Martin's executive chairman.
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The ruling is a major blow for VW in its home market as it continues to reel from the emissions scandal.
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The nation's sixth-largest new-vehicle retailer opened its 10th EchoPark store in April in Tampa, Fla., and plans to open two more by the end of the year, with plans for another three or four in 2021.
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COVID-19 loomed large as the signature Israeli mobility event went digital. Here's what happened.
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Some questions remain unanswered as the industry waits for details in the uniform regulations, which are expected to come out June 1, just a month before USMCA enters into force.
Continue Reading the above article 'Automakers consider extensions on auto rules under...