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Auto supplier Robert Bosch is investing $1,1 billion in its semiconductor plant. The company has never made such big investments before, which means this deal it’s planning right now is really worth it. The factory in Dresden, Germany, will start producing chips needed for autonomous vehicles, smart homes and Internet-linked city infrastructure in 2021. It’ll employ as many as 700 workers once construction is complete in 2019. Bosch, known as a maker of traditional car parts such as braking systems and combustion engines, is also a long-time software developer and is inc...
A vigorous court challenge is to be expected. New Work State’s general and 12 other top state law enforcement’s try to roll back vehicle emission rules announced by Trump’s administration before. In March, President Donald Trump ordered a review of U.S. vehicle fuel-efficiency standards from 2022-2025 put in place by the Obama administration, saying they were too tough on the auto industry. The push to weaken the rules by the Trump administration comes as automakers are worried that consumers shift to larger vehicles and low gas prices will make it expensive or impo...
As part of the efforts to reduce exposure General Motors will slash headcount at its international headquarters in Singapore. GM International -- which oversees markets such as India, Southeast Asia, and South Korea, among others -- will reduce its staff to about 50 from 180 by year end, according to a person with knowledge of the matter. About 90 employees will leave the company by the end of June and 40 by the end of 2017. Last week, the company said it would take a $500 million charge in the second quarter to restructure operations in India, Africa and Singapore. The company plan...
Since Donald Trump has become the new U.S. president he has been vowing to turn American trade policy toward a more protectionist stance. That includes imposing a 35 percent tariff on imported cars, could have far-reaching consequences for European automakers. European auto executives who gathered here last week for the annual Geneva auto show have found themselves having to deal unexpectedly with trade issues in markets, including Britain and the United States, that just a year ago seemed steady. Many European automakers produce and even export cars from the United States and Mexic...
The Indian multinational automotive manufacturing company Tata Motors reported a 96 percent fall in net profit for its third quarter, citing sharply lower earnings at its British luxury automaker Jaguar Land Rover and losses in its domestic business. Consolidated net profit for the three months to Dec. 31 fell to 1.12 billion rupees ($16.7 million) from 29.53 billion a year earlier. Total income from operations fell 4.3 percent to 685.41 billion rupees. Retail sales of its Jaguar sedans and Land Rover SUVs rose 8 percent to 149,288 vehicles in the three months through December from ...
