March 16, 2023 10:25 am
Mativ Holdings Inc, a global manufacturer of critical components and engineered solutions, said on Wednesday that it had appointed Greg Weitzel as its next Chief Financial Officer, effective April 2nd. Weitzel is to succeed Andrew Wamser, who will part ways with the company on April 1st. Weitzel has been Mativ’s vice president of Financial Planning […]
Read moreMarch 16, 2023 9:11 am
Volkswagen on Wednesday disclosed the details of a planned all-electric car that is expected to cost less than EUR 25,000. The vehicle, which will be launched in Europe by 2025, will be the first one on Volkswagen’s modular electric platform to feature a front-wheel drive, the company said. The vehicle has a 450 km range […]
Read moreMarch 15, 2023 12:02 pm
Alcoa Corp said on Wednesday that the Portland Aluminium smelter in the Australian state of Victoria would begin reducing overall production because of operational instability. Production at the smelter is to be reduced to about 75% of the total consolidated capacity of 358,000 metric tons per year, the company said. Alcoa Corp’s share of that […]
Read moreMarch 15, 2023 9:27 am
General Motors Co (GM) said earlier this week a production halt at its Silao Assembly Plant in Mexico would be extended through March 20th due to an undisclosed temporary supply chain issue. The company said the supply issue was not associated with semiconductor chips. Previously, the US auto maker had said it would halt production […]
Read moreMarch 13, 2023 10:55 am
Huuuge Inc said over the weekend that it held roughly 10% of its cash and securities at the suddenly collapsed Silicon Valley Bank (SVB). The company also said it had sufficient resources to meet shorter-term cash requirements. According to the US-registered mobile games developer, it had nearly $237 million of cash and securities as of […]
Read moreMarch 13, 2023 9:27 am
Porsche AG (P911) reported a record profit for 2022 of EUR 6.8 billion, or a more than 25% year-on-year increase, as deliveries rose 2.6%. The auto maker is aiming to achieve revenue within the range of EUR 40-42 billion in 2023, up from EUR 37.6 billion last year, and a 2023 margin of 17% to […]
Read moreMarch 10, 2023 12:56 pm
Vietnam’s VinFast said earlier on Friday that it would delay plans to begin operations at its electric vehicle facility in the United States until 2025, as the company required “more time to complete administrative procedures.” VinFast, a unit of Vingroup JSC, had announced the plan to establish a $4 billion EV plant in North Carolina’s […]
Read moreMarch 9, 2023 11:21 am
Silvergate Capital Corp on Wednesday announced plans to wind down operations and to voluntarily liquidate Silvergate Bank in an orderly fashion. Silvergate Bank’s wind down and liquidation plan includes full repayment of all deposits, Silvergate Capital said. The holding company is also mulling how best to resolve claims and preserve the residual value of its […]
Read moreMarch 9, 2023 9:32 am
Auto maker Stellantis said this week it had reached a preliminary agreement with authorities in South Africa to establish its first production facility in the country by the end of 2025. The new site is to be built in one of South Africa’s special economic zones and will produce vehicles for both the local market […]
Read moreMarch 8, 2023 11:49 am
Ford Motor Co (F) on Wednesday announced a discount of 40,000 yuan ($5,700) on its Mustang Mach-E electric sport-utility vehicles in China until the end of April. China-based clients can now buy the Mustang Mach-E at prices starting at 209,900 yuan after the discount. In November, the US auto maker had said it planned to […]
Read more