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Volkswagen (VW) said it was in talks to discuss a settlement with German vehicle owners who are suing the carmaker over excessive pollution caused by VW’s diesel cars.
Tesla CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10 per cent of jobs at the electric carmaker, he said in an email to executives seen by Reuters.
Musk's fortune rose by $6.07 billion on Friday, Bloomberg News said, following a 10.8% jump in the electric carmaker's stock. Tesla's shares have surged 500% over the past year as the company increased sales of its Model 3 sedan.
Passenger car retail sales in China, the world’s biggest auto market, fell 80% in February because of the coronavirus epidemic, one of the country’s industry associations said.
Carmaker Ford Motor jumped into the emergency push by major US manufacturers to produce thousands of ventilators and respirators needed to help combat the spread of the coronavirus under a partnership code-named ‘Project Apollo’.
German carmaker Volkswagen said it was joining other manufacturers around the world to explore using 3D printing to make hospital ventilators to combat the coronavirus.
Daimler will keep a 35% stake in the trucks division it plans to spin off this year, the luxury carmaker said on Friday, giving more details on a landmark corporate split it hopes will boost share values.
Volkswagen first-half operating profit is expected to come in at around 11 billion euros ($13 billion), it said on Friday, even surpassing pre-pandemic levels on the back of strong demand in Europe and the United States.
Investors cheered a solid third quarter (Q3) at General Motors Co as the automaker’s performance and confidence tamped down growing fears of a global recession.
Carmaker BMW will recall 1.4 million vehicles in China due to faulty airbags, the country’s market regulator announced on Friday.
