3 Min Read
HAMBURG (Reuters) -Volkswagen is considering a supervisory board change that could lead to the departure of Bernd Osterloh, who heads its powerful works council and clashed with CEO Herbert Diess last year, sources familiar with the matter said on Thursday.
FILE PHOTO: A Volkswagen logo is seen as it launches its ID.6 and ID.6 CROZZ SUV at a world premiere ahead of the Shanghai Auto Show, in Shanghai, China April 18, 2021. REUTERS/Aly Song
If confirmed, Osterloh’s exit could weaken resistance to faster and more drastic restructuring at the German carmaker.
Last year, the 64-year-old opposed an attempt by Diess to extend his contract as the CEO strives to cut costs and free up resources to invest more in electric vehicles.
3 Min Read
PARIS (Reuters) -Thales is putting its rail signalling business up for sale in a potential deal worth 1.5 billion euros or more ($1.8 billion) as the French defence and aerospace group seeks to streamline operations, people close to the matter said.
FILE PHOTO: The logo of French defence and electronics group Thales is seen at the company s headquarters in Merignac near Bordeaux, France, March 22, 2019. REUTERS/Regis Duvignau
Thales, partially owned by the French state, makes equipment ranging from anti-jamming devices for fighter jets to airliner navigation beacons, and investors have often questioned the diversity of its portfolio of assets.
Proceeds from the divestiture would help bolster Thales’ finances after the COVID-19 crisis dented sales and profits last year.
3 Min Read
HAMBURG (Reuters) -Volkswagen is considering a supervisory board change that could lead to the departure of Bernd Osterloh, who heads its powerful works council and clashed with CEO Herbert Diess last year, sources familiar with the matter said on Thursday.
FILE PHOTO: A Volkswagen logo is seen as it launches its ID.6 and ID.6 CROZZ SUV at a world premiere ahead of the Shanghai Auto Show, in Shanghai, China April 18, 2021. REUTERS/Aly Song
If confirmed, Osterloh’s exit could weaken resistance to faster and more drastic restructuring at the German carmaker.
Last year, the 64-year-old opposed an attempt by Diess to extend his contract as the CEO strives to cut costs and free up resources to invest more in electric vehicles.
Truckmaker Iveco, electric and hydrogen vehicle maker Nikola and German gas network operator OGE said on Wednesday they entered a preliminary agreement to support hydrogen distribution for fuel-cell electric vehicle (FCEV) refuelling.
By Reuters Staff
2 Min Read
FILE PHOTO: An employee at a Volvo car dealer, wearing a protective mask is seen in the showroom, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman
STOCKHOLM (Reuters) - Volvo Cars, which is owned by China’s Geely Holding, will temporarily stop or adjust production in China and the United States for parts of March due to a global shortage of semiconductor chips, it said on Wednesday.
“We expect the situation to become critical during the second quarter and have therefore decided to take measures to minimize the impact on production while working daily to improve the situation,” Volvo Cars said in an e-mailed statement.