Autos

British car production could slump this year to the lowest level in decades after the coronavirus pandemic forced factories to close and hit demand, according to an industry body.

Renault said on Friday it was launching talks with unions to restructure several French car plants, potentially leading to closures, as it confirmed plans to cut around 15,000 jobs worldwide.

German automaker Volkswagen will have full management control of its JAC-VW joint venture, the company's China CEO said on Friday.

Geely Automobile Holdings Ltd said on Friday it raised HK$6.48 billion (676.84 million pounds) from a share placement as the Chinese automaker looks to replenish its coffers to finance growth in the world's largest auto market.

Japan's factory output slid faster-than-expected and retail sales tumbled the most in more than two decades in April, as the coronavirus pandemic wrecked both foreign and domestic demand for the country's autos and other manufactured goods.

Volkswagen AG (VW) said on Friday it has agreed to invest 2.1 billion euros (1.89 billion pounds) in two separate Chinese electric vehicle players, upping its bet on the world's biggest auto market as international rivals seek to muscle in.

General Motors said on Thursday it would start increasing vehicle production in North America from next week to meet rising demand.

French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales, a representative for the CFDT union said after meeting with the company.

Groups of up to 6 people will be able to meet outside in England from Monday if they maintain social distancing, Britain's Prime Minister Boris Johnson said on Thursday as he confirmed that tests had been met to ease the coronavirus lockdown further.

Closely-watched talks between top German politicians and car industry representatives to discuss support for a sector hit hard by the coronavirus crisis will no longer take place on Tuesday, the head of the VDA car association told Bild.

Volkswagen said on Thursday its supervisory board had approved several projects in a multibillion-dollar alliance with Ford Motor that was first announced last July.

Prime Minister Boris Johnson said on Thursday the conditions had been met to slightly relax the coronavirus lockdown in England from June 1. Below are details.

Germany's biggest labour union criticised Volkswagen on Thursday for a recent advert deemed racist and other "errors", saying management had damaged the carmaker's reputation and put jobs at risk.

Nissan Motor Co outlined a new plan on Thursday to become a smaller, more efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years.

Spain will do everything it can to get Nissan to reverse its decision to close its Barcelona plant, Foreign Minister Arancha Gonzalez Laya said on Thursday.

Spain said on Thursday it would do everything possible to stop Nissan from closing its main car factory in the country as angry workers burned tyres and shouted "War" outside the Barcelona plant.

German automaker Volkswagen AG has become the biggest shareholder of China's electric vehicle battery maker Guoxuan High-Tech Co Ltd with a 26.5% stake, Guoxuan said in stock exchange filings on Thursday.

Global auto sales for Japanese carmakers halved in April as the coronavirus pandemic forced governments to impose lockdowns that left streets empty and showrooms deserted.

Electric vehicle (EV) maker Nio Inc's chief executive said it may list its new Nio China entity, as the cash-strapped company eyed a rebound after selling fewer vehicles during the coronavirus outbreak.