Italy has approved a decree offering state guarantees for a 6.3-billion euro ($7.1 billion) loan to Fiat Chrysler's (FCA) Italian unit, the Treasury said on Wednesday, paving the way for the largest crisis loan to a European carmaker.
According to the company, around 70 per cent customers feel that there's a need to shift to affordable personal mobility solutions like an e-scooter after Covid-19.
The Renault Captur, the French carmaker's flagship product in India, has been removed from the company's website. The Captur was the only Renault model that had not made the shift to the new, stringent BS6 emission regulations, and it being removed from the carmaker's website could mean that the car has either been discontinued.
Volvo owner Geely is set to take over an automaker battered by a prolonged sales decline exacerbated by the impact of the novel coronavirus, said three people with knowledge of the matter, in an indication of how the pandemic is stoking consolidation.
Their silhouettes don't stir dreams of adventure like a sports car or trendy SUV, but vans are a rare source of profit for European carmakers, which is why EU regulators are focused on them as they decide whether to back an industry mega-merger.
The Toyota Kirloskar Motor (TKM) plant in Bidadi, Karnataka has been shut once again after two employees tested positive for COVID-19, the automaker has confirmed. The two employees had last attended work on June 7 and June 16, 2020, respectively. After suspending operations at the end of March due to the nationwide lockdown, the plant resumed operations on May 26, 2020. A statement from the company said it had taken all necessary precautions to maintain social distancing and with limited workforce. Toyota becomes the third major automaker after employees at Maruti Suzuki and Hyundai employees were also tested positive for Coronavirus.
Nissan Motor Co on Friday said it will cut more shifts at its three assembly plants in Japan due to falling demand, as the automaker struggles to recover from a drop in sales triggered by the coronavirus pandemic.
