Hirings/Firings/Layoffs

Swiss electric car start-up Piëch Automotive AG appointed Matthias Mueller, the former chief executive of Porsche and Volkswagen , as its new chairman, the company said on Monday. Founded by Anton Piëch, son of ex VW chairman Ferdinand Piëch, the Switzerland-based company is preparing to raise funds to launch an electric two-seater sports car equipped with batteries that charge to 80% capacity in under 5 minutes.

The auto union said FCA would invest in a state-of-the-art vehicle platform that will enable the assembly of plug-in hybrid and battery electric vehicles, with at least one new model in 2025. The announcement comes less than a month after Unifor said Ford Motor Co would invest C$1.95 billion ($1.46 billion) in its Oakville and Windsor plants.

Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, e

Ford Motor Co's new chief executive, Jim Farley, on Thursday promised the No. 2 U.S. automaker would move with urgency, in contrast to criticism his predecessor faced. Farley, on his first day as Ford's 11th CEO, also announced an executive shake-up that included naming a new chief financial officer. Ford's promise to accelerate its turnaround is not new at a time when it is executing on an $11 billion restructuring.

Volkswagen is reviewing the future of its high-performance brands Lamborghini, Bugatti and Ducati as part of broader quest for more economies of scale as it shifts to mass producing electric cars, senior executives told Reuters. Volkswagen's management board and directors will look at the carmaker's strategy at a meeting in November and are working on a new "to do list" as the company tries to more than double its value to 200 billion euros (182.7 billion pounds), one executive said

Former Nissan Motor Co. Chairman Carlos Ghosn made a new public appearance in Lebanon Tuesday during which he launched an initiative with a local university to help the country that is undergoing a severe economic and financial crisis. It is Ghosn’s second appearance in public since he was smuggled from Japan in late December to his ancestral Lebanon. Ghosn declined to elaborate about the details of his arrival in Lebanon, saying it happened in “dramatic circumstances” and also refused to answ

The Italian will also be F1 president with Carey, who led the revamping of the sport following the 2017 ouster of former supremo Bernie Ecclestone, moving to the position of non-executive chairman. Speaking to reporters at the Russian Grand Prix before the announcement, Horner said Domenicali's appointment would be great for the sport.

Mexican driver Sergio Perez will leave Racing Point at the end of the Formula One season, he and the team announced on Wednesday. The news followed speculation that four times world champion Sebastian Vettel is poised to join the Canadian-owned team, which will take the name of sportscar maker Aston Martin in 2021, from Ferrari. Ferrari have already announced that the German, who won his titles with Red Bull, is being replaced by Spaniard Carlos Sainz from McLaren next year.

Ford Motor Co said on Wednesday it is targeting the elimination of 1,400 U.S. salaried jobs by year end as part of a multiyear $11 billion restructuring. "We’re in a multiyear process of making Ford more fit and effective around the world," Ford's Americas President Kumar Galhotra said in the email. Ford has said it was targeting a 10% operating margin in North America.

Lyft in a blog post on Thursday said it would suspend its California operations at midnight. Uber in a blogpost said it would have to temporarily shut down unless the appeals court intervenes. Lyft shares dropped 6.2% to $26.41, while Uber shares were down 2.3% to $28.74.

Mitsubishi Motors Corp said on Friday Osamu Masuko resigned as chairman due to health reasons and has handed over the role to CEO Takao Kato on a temporary basis. A veteran of the Mitsubishi conglomerate, Masuko joined the automaker in 2004, and became president in 2007. The 71-year-old would stay on at Mitsubishi as a special adviser, the company said in a statement.

Uber driver Johan Nijman faces a difficult decision as federal unemployment aid expires: risk failing to pay for groceries and even lose his home, or resume driving and potentially catch COVID-19. Nijman is among thousands of Uber Technologies Inc and Lyft Inc drivers across the United States choosing between physical and financial health risks as $600 in additional weekly unemployment assistance expire. While drivers are not the only workers struggling, they are particularly vulnerable as the

"These are new growth initiatives that could create a lot of value for the company," Farley told Reuters, after Ford announced that he will succeed Jim Hackett as the automaker's fourth CEO since 2014. In addition to Ford's work on self-driving vehicles, "these are concrete areas that will change Ford," Farley said. In the meantime, Farley, 58, must wrestle with a painful restructuring of Ford's global operations amid the ravages of the coronavirus crisis that has saddled the No. 2 U.S. automa

Marathon, under pressure from activist investor Elliott Management, said last year it would launch sweeping restructuring, including spinning off Speedway, which it said was worth as much as $18 billion, including debt. After-tax proceeds from the sale, which has been approved by the boards of both companies, are estimated at $16.5 billion, Marathon said, adding it will use the proceeds to pay existing debt. For Seven & i, owner of the 7-Eleven convenience store chain, the deal helps it shift

Nissan Motor Co. is willing to postpone until June 2021 the closure of its three Barcelona plants, which had originally been due to close by December 2020, but only if workers resume production, a top executive said on Tuesday. The decision to shut its three Barcelona plants and lay off around 3,000 workers was announced in May as part of a turnaround plan for Nissan, triggering protests by workers and a commitment by Madrid to convince the company to stay. The postponement deal would also imp

Volkswagen is replacing its head of software development, newspaper Handelsblatt reported on Sunday, as the German carmaker wrestles with the transition to electric vehicles. The newspaper said Christian Senger, a former BMW manager who runs the recently founded Car.Software.Org unit, was to be replaced after clashes with the company and concern at software problems with the recent ID.3 and Golf 8 vehicles. Senger was part of a network of external managers Chief Executive Herbert Diess had bro