Nissan Motor trims presence in Europe focuses on US, Japan, China

On Friday, in a report Japanese news daily Yomiuri said, Nissan Motor plans on further cutting down its presence in the European car market; it plans on outsourcing the sales and manufacturing of its cars to Renault, its alliance partner. The move, part of its global turnaround plan, essentially reverses former chairman, Carlos Ghosn’s strategy…

Israeli chip manufacturer Tower Semiconductor halts production following cyber attack

On Sunday, Israeli chip manufacturer Tower Semiconductor said, some of its systems have been hit by a cyber attack as a result of which it has placed on hold some of its manufacturing operations. “Tower has notified relevant authorities, and is working closely with law enforcement organizations and with a leading team of worldwide experts,…

Taiwan’s TSMC to build $12 Billion chip facility in Arizona

On Friday, Taiwan Semiconductor Manufacturing Co Ltd announced it will build a $12 billion chip factory in Arizona with the company saying it reflects a “strong partnership” with the U.S. government. The development coincides with the Trump Administration’s efforts to bring in more manufacturing activity to the United States. The chip factory will create 1,600…

U.S. engineering & design firm Silk EV enters MOU with China’s FAW to produce Hongqi branded sports cars

On Monday, Silk EV, a little-known U.S.-based engineering and design firm disclosed it plans on investing $1.41 billion (10 billion yuan) in order to make sports cars with China’s FAW Group under the Hongqi brand, the brand of choice for China’s late revolutionary leader Chairman Mao Zedong. Silk EV has signed a memorandum of understanding…

Airbus plans on investing between $539 to 1.08 billion in A220 passenger jet program in 2020

In a statement, the chief executive officer of Airbus SE said, the planemaker plans on investing between $539 million-$1.08 billion (500 million euros and 1 billion euros) in 2020 on its A220 passenger jet program. Earlier in February, Airbus had raised its stake in the program, known as Airbus Canada, to 75%, up from 50.1%,…

China’s coronavirus threatens mobile phone industry: Qualcomm’s CFO

The coronavirus outbreak in China poses a potential threat to the mobile phone industry, said Qualcomm Inc while adding that it is likely to impact its manufacturing and sales. These comments by Qualcomm, the world’s biggest supplier of “modem” chips has resulted in the tumbling of chip stocks despite signs that an industry downturn was…

Foxconn’s China factories will resume full production in late February

According to a source with direct knowledge of the matter at hand, Taiwan’s Foxconn aims to gradually restart operations at its factories in China and could resume full production within 3 weeks. Foxconn has filed requests to reopen factories with Chinese authorities, said the source while adding that a full resumption is likely towards the…