On Tuesday, in a statement Airbus said, it is stopping production and assembly activities at its plants in France and in Spain for the next four days. Both governments are implementing new measures to restrict the movements and fight the coronavirus outbreak, said Airbus. “This will allow sufficient time to implement stringent health and safety…
South Korea’s Samsung Display, a supplier for Samsung Electronics and Apple Inc, has requested Vietnam to exempt 700 South Korean engineers from its mandatory quarantine requirement saying they are needed to prepare for the production of screens for new smartphones. South Korea is Vietnam’s biggest foreign investor. In an effort to contain the outbreak of…
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%,…
Samsung Electronics unveiled its latest foldable 5G capable flagship as it surges ahead to maintain its market position in an increasingly competitive phone market. The development marked Samsung’s second attempt at a folding phone, following a delayed rollout in 2019, as it fends off traditional rival in the premium smartphone market, which includes Apple Inc…
With the coronavirus pandemic continuing its run in China, Hyundai Motor stated, it plans on gradually suspending production at its South Korean factories from Tuesday. Hyundai is the first automaker to do so outside China. The coronavirus is disrupted supply chain. Other global automakers, including PSA Peugeot Citroen, Ford, Nissan, Honda Motors have suspended the…
In a statement, Foxconn, formally known as Hon Hai Precision Industry Co Ltd, said it could continue to meet all manufacturing obligations in the wake of the coronavirus outbreak in China. “We do not comment on our specific production practices, but we can confirm that we have measures in place to ensure that we can…
On Tuesday, a report from Japan’s Nikkei Asian Review stated, Apple Inc’s plan to boost the production of the iPhone by 10% during the first half of this year is likely to hit headwinds with the coronavirus spreading further in China. The Nikkei reported citing sources familiar with the company’s plans as saying, Apple had…
In a significant milestone for Tesla Inc, the company has become the first U.S. publicly listed carmaker to be valued at $100 billion. The development also underscores Wall Street’s confidence in an all-electric future. Tesla shares were last up by 1.4% at $555 after the bell, building on a 7.2% gain during trading when brokerage…
In a statement, Cruise, General Motors’ self-driving car unit said, it has unveiled an electric vehicle without any steering wheel or pedals for use in its planned autonomous ride-sharing service. Cruise did not disclose when the car will go into production. The vehicle, named “Cruise Origin”, was developed with Honda Motor Co Ltd following the…
In a statement, Toyota Motor Corp said it will be moving its production of the mid-size Tacoma pick-up truck from the U.S. to Mexico. Toyota Motor Corp, Japan’s biggest automaker, stated by 2022, it will stop the production of its Toyota Sequoia in Indiana since that plant focuses on minivans and mid-size SUVs. By late…
business-gurus.com 