After weeks of negotiating, GM Korea and its labor unions have reached a tentative deal. The deal, for now, will prevent General Motors South Korean division from filing for bankruptcy. The automaker had previously imposed a deadline of Monday to reach a deal regarding wage concessions for about 2,600 GM Korea employees. In February GM Korea announced plans to close… Read More...
General Motors has announced it will give negotiators until Monday to arrive at a financial solution for its ailing GM Korea division. The company has previously offered last Friday as a deadline for GM Korea's bankruptcy filing. GM says the new deadline will be Monday at 5PM in South Korea, which is about 4AM Eastern time. The extension is allowing… Read More...
Mercedes-Benz parent Daimler AG says the company is open to the idea of supplying Volvo engines. The procurement would come as part of increased cooperation between the German automaker and Volvo owner Geely. This isn't the first chatter of alliances between the two automakers. Geely Chairman Li Shufu recently bought a $9 billion stake in Daimler AG. Shufu says the stake… Read More...
General Motors Korean division and its union workers have reportedly failed to reach an agreement. The company has previously said Friday, April 20th is the deadline before GM Korea will file for bankruptcy. Reuters is reporting a GM Korea spokesperson has confirmed the two parties have failed to reach any agreements thus far, but will continue talking throughout the day. The… Read More...
Today General Motors promptly replaced Cadillac chief Johan de Nysschen, who left the company immediately. de Nysschen has been running Cadillac since August 2014 with unprecedented autonomy to manage GM's flagship brand. Among de Nysschen's bold moves with Cadillac is the brand's move from Michigan to New York City. Its trendy SoHo headquarters was considered an imperative in de Nysschen's turnaround… Read More...
China has announced it will end ownership caps on foreign automakers in 2022. As part of the changes, restrictions on new-energy vehicle ventures will also be removed this year. This major shift in policy will open new doors for global automakers in the world's largest car market. Companies building battery-electric or plug-in hybrid vehicles will have ownership restrictions removed this… Read More...
General Motors has issued a warning to involved stakeholders of GM Korea: come to agreement by April 20th. Failure to reach an agreement by the deadline will likely cause GM Korea to file for bankruptcy. The deadline date of April 20th is not a new one. GM first declare that date as the finish line back in February when the… Read More...
General Motors has announced plans to reduce its Chevrolet Cruze assembly plant from two to one shift. The move is creating thousands of layoffs in a move GM says is necessary due to historic consumer shifts away from cars. GM says the second shift at its Lordstown, Ohio assembly will cease on June 18th. The shift elimination is expected to… Read More...
Mercedes-Benz is officially throwing its hat in the vehicle subscription game. The German luxury brand has announced plans to trial a new Mercedes-Benz Collection subscription program in Nashville, Tennessee and Philadelphia, Pennsylvania. The general workings of Mercedes-Benz Collection is similar to other vehicle subscription services. Consumers will select a package for a fixed monthly price to gain access to Mercedes-Benz… Read More...
Tesla is reportedly targeting November 2019 to begin producing its upcoming Model Y SUV. Of course, Tesla's track record when it comes to meeting production targets is marginal at best, but nonetheless the company is beginning to source suppliers for the Model Y. Reuters has learned through sources Tesla has began communicating with suppliers for the Model Y, though details provided… Read More...
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