Detroit Three automakers reinstate mask mandate at some Michigan facilities

– General Motors Co, Ford Motor Co and Chrysler parent Stellantis NV said on Sunday they are reinstating a requirement that employees wear masks in southeastern Michigan where there are high levels of COVID-19. The Detroit Three automakers said in early March they would allow auto workers to stop wearing masks at workplaces where U.S. health officials said it was safe to do so. That month, the automakers said they would adopt revised guidance by…

"Detroit Three automakers reinstate mask mandate at some Michigan facilities"

Top Wall Street firms, Ford to disclose directors’ race and gender

– Four top Wall Street firms and Ford Motor Co will start to disclose the race and gender of individual directors under deals reached with New York City pension officials, the city’s comptroller, Brad Lander, said on Thursday, while a utility company has pushed back on the idea. According to a representative for Lander, the companies, which include JPMorgan Chase & Co, BlackRock Inc, Morgan Stanley and Goldman Sachs Group in addition to Ford, will…

"Top Wall Street firms, Ford to disclose directors’ race and gender"

BMW’s energy and raw material needs largely secured for 2022 – CFO

BERLIN – The BMW Group has largely secured its energy and raw material needs for 2022, its Chief Financial Officer Nicolas Peter said on Wednesday, but rising raw material prices could still weigh on results. This has been achieved both through methods such as hedging on the financial market, and energy efficiency adaptations in production, Peter said, speaking at the carmaker’s annual general meeting for shareholders.

"BMW’s energy and raw material needs largely secured for 2022 – CFO"

Ford sells shares in EV maker Rivian for $214 million

– Ford Motor Co sold 8 million shares of electric carmaker Rivian Automotive Inc for $214 million, or $26.80 apiece, the U.S. automaker said in a filing on Tuesday. Ford now holds 93.9 million shares in the California-headquartered company. Rivian’s shares opened at a record low on Monday after the sale was reported by CNBC over the weekend.

"Ford sells shares in EV maker Rivian for $214 million"

Renault sees a double digit margin for its Mobilize brand in 2027

PARIS – French carmaker Renault said it was targeting a double-digit margin for its new Mobilize brand, which proposes new solutions around mobility and data, and that ‘Mobilize’ would aim to represent 20% of Renault’s overall group turnover by 2030. The company is counting on this new business to help turn around its finances. In February, Renault posted an annual profit for the first time in three years. But its sales fell for the third…

"Renault sees a double digit margin for its Mobilize brand in 2027"

Aptiv Shanghai plant suspends some shipments after COVID cases – sources

SHANGHAI -Aptiv stopped shipping over the weekend some parts from a Shanghai plant that supplies Tesla Inc and General Motors Co after COVID-19 infections were found among its workers, two people familiar with the matter said on Monday. The suspension of shipments from Aptiv could represent a setback to Tesla, which had planned to bring output in Shanghai back to the levels before the city locked down to control a wave of infections and forced…

"Aptiv Shanghai plant suspends some shipments after COVID cases – sources"

Exclusive: Hyundai plans U.S. EV plant, in talks with Georgia – sources

SEOUL/DETROIT – Hyundai Motor Co plans to announce a new electric-vehicle manufacturing plant in the United States and has been in discussions to build a facility in Georgia, near existing plants for the Hyundai and Kia brands, the Korean automaker and people with knowledge of its plans told . “We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage,”…

"Exclusive: Hyundai plans U.S. EV plant, in talks with Georgia – sources"

Russia publishes list of ‘parallel imports’ goods

– Russia published a detailed list of goods from foreign carmakers, technology companies and consumer brands on Friday that the government has included in a so-called “parallel imports” scheme aimed at shielding consumers from business isolation by the West. Many global brands have halted sales in Russia in response to Moscow sending tens of thousands of troops into Ukraine on Feb. 24, while unprecedented Western sanctions have limited access to already strained global supply chains.…

"Russia publishes list of ‘parallel imports’ goods"

Stellantis says Q1 sales rose 12% on strong pricing and vehicle mix

MILAN – Carmaker Stellantis said on Thursday its sales rose 12% in the first quarter of this year supported by strong pricing and vehicle mix, but also by favourable exchange rate effects. Net revenues amounted to 41.5 billion euros ($44.1 billion) in the January-March period versus 37.0 billion euro pro-forma sales a year earlier. The result topped analyst expectations of 36.9 billion euros, according to a poll. “Our full-year guidance for double-digit adjusted operating income…

"Stellantis says Q1 sales rose 12% on strong pricing and vehicle mix"

BMW profit boosted by Chinese joint venture, strong car prices

LONDON -BMW posted a rise in first-quarter profit on Thursday, boosted by a reevaluation of the German car maker’s stake in its Chinese joint venture and strong pricing, and maintained its 2022 outlook despite volatile prices for commodities and energy. BMW said the reevaluation of its existing stake in its joint venture with Brilliance Auto Group had resulted in a preliminary profit of 7.7 billion euros ($8.2 billion). In February, BMW said it would pay…

"BMW profit boosted by Chinese joint venture, strong car prices"