The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles.
Category: Automobiles
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Ford Fined by Safety Agency Over Defective Rearview Camera Recalls
The regulator faulted the automaker for not recalling cars with defective rearview cameras quickly enough and for providing incomplete and inaccurate information.
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Volkswagen and Rivian Form Joint Venture, Deepening Alliance
The new agreement builds on an earlier announcement in which the German automaker said it would invest up to $5 billion in Rivian, a maker of electric vehicles. The new venture brings them closer.
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Trump’s Tariffs Could Deal a Blow to Mexico’s Car Factories
The president-elect has said he could impose tariffs as high as 200 percent on car imports from Mexico, a move that could hurt factories and workers on both sides of the border.
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Nissan Cuts 9,000 Jobs and Slashes C.E.O.’s Pay in Half
The Japanese automaker is carving out its global operations as it struggles with a steep drop in sales.
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Tesla’s Stock Jumps After Trump’s Victory
Investors believe that the electric car company led by Elon Musk will benefit from his support of the president-elect.
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How Volkswagen Lost Its Way in China
A brutal price war, sudden shifts in consumer demand and human rights issues in Xinjiang have left VW stumbling in a market it led for 40 years.
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How Elon Musk Might Use His Pull With Trump to Help Tesla
Although Donald Trump has opposed policies that favor electric cars, if he becomes president he could ease regulatory scrutiny of Tesla or protect lucrative credits and subsidies.
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G.M.’s Electric Vehicle Sales Surge as Ford Loses Billions
Ford is struggling to make money on battery-powered models while General Motors, which started more slowly, says it is getting close to that goal.
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For First Time in 87 Years, Volkswagen May Close 3 Plants in Germany
The automaker’s top employee representative told workers that management planned to shutter the factories to cut costs amid slumping sales.
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Tesla’s Third Quarter Earnings Report Robust Profit Increase
The electric car company said profits climbed 17 percent in the third quarter as strong sales of energy products helped to make up for relatively slow auto sales.