Tens of thousands of workers lined up before dawn to return to work at automotive factories along Mexico's northern border on Monday, the first day that industries joined the country's list of essential activities beginning to reopen.
Lear Corp is implementing costly safety measures that may hurt productivity at its operations in Mexico after suffering the deadliest known factory-related coronavirus outbreak in the Americas, but the U.S. auto parts maker still faces a battle to win back workers' trust.
Since even before its IPO, top electric-car maker Tesla (NASDAQ: TSLA) has faced tough questions about its future. First, people wondered if there was actually a market for electric vehicles. Then, they questioned the battery technology. After that, they were skeptical about t
U.S. Federal Reserve officials have talked broadly about helping households and firms through the current economic crisis and quickly unleashed trillions of dollars in cash and credit guarantees to build a "bridge" to the post-pandemic world.
U.S. Federal Reserve officials have talked broadly about helping households and firms through the current economic crisis and quickly unleashed trillions of dollars in cash and credit guarantees to build a "bridge" to the post-pandemic world.
Nissan Motor Co has agreed to settle a long-running dispute with the Indian state of Tamil Nadu after claiming it was owed 50 billion rupees ($660 million) in unpaid dues and damages, six sources told Reuters.
General Motors Co and Ford Motor Co are using fast-payment programs set up with financial lenders to help cash-strapped small suppliers survive production shutdowns caused by the coronavirus pandemic.
Tesla Inc said on Wednesday it will cut prices of its electric vehicles in North America as the firm ramps up car production at its Fremont, California, factory after the easing of coronavirus lockdowns.
Mexico's auto industry reopening picked up pace on Tuesday, with Fiat Chrysler and BMW AG joining peers in gradually dusting off operations even as the wait for approvals slowed the return of some companies.
What happened
Shares of several global automakers were rising on Tuesday, as auto factories around the world continued to ramp up after shutting down in March amid the COVID-19 pandemic.
The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets.
Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases.
The coronavirus pandemic has crashed the global economy, with companies involved in transportation hit the hardest. Ford (NYSE: F) has certainly not proved immune, having shut down much of its production during the early days of the spread of the disease, under both government
The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.
A group representing many major automakers on Friday backed the Trump administration's decision to weaken Obama administration fuel efficiency standards but said it opposed further reductions in requirements.
Reuters
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