Tesla to hold annual shareholder meet and ‘Battery Day’ on Sept. 22

– Tesla Inc will hold its annual shareholder meeting in person on Sept. 22 at its Fremont factory in California, the electric carmaker said on Friday. The company’s “Battery Day”, where it is expected to reveal significant advances in battery technology will also be held on the same day, Tesla said. Chief Executive Officer Elon Musk said last month the shareholder meet would tentatively be held on Sept. 15. The meeting was originally scheduled for…

"Tesla to hold annual shareholder meet and ‘Battery Day’ on Sept. 22"

Fiat Chrysler recalls more than 900,000 U.S. vehicles due to faulty air bag covers

– Fiat Chrysler Automobiles NV said on Friday it would recall about 925,239 of its older model vehicles in the United States to replace air bag covers on their steering wheels after 14 potentially related injuries. The recall is limited to 2007-2011 Dodge Nitro SUVs, 2008-2010 Chrysler Town & Country and Dodge Grand Caravan minivans, the Italian-American automaker said. The move follows an FCA investigation that found these vehicles were equipped with certain clips that…

"Fiat Chrysler recalls more than 900,000 U.S. vehicles due to faulty air bag covers"

Accused Ghosn escape plotters too much flight risk for bail: U.S. judge

BOSTON – A U.S. judge said on Friday two Massachusetts men pose too great of a risk of flight to be released on bail given “spectacular” allegations that they helped orchestrate former Nissan Motor Co Chairman Carlos Ghosn’s escape from Japan. U.S. Magistrate Judge Donald Cabell said U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, had also failed to show they would likely succeed in fighting the charges underlying Japan’s recent…

"Accused Ghosn escape plotters too much flight risk for bail: U.S. judge"

Tesla rival Rivian adds $2.5 billion investment led by T. Rowe Price

– Electric vehicle startup Rivian, which is backed by Amazon and Ford Motor and aims to put an electric pickup and SUV in production in 2021, boosted its war chest further with a $2.5-billion investment round led by T. Rowe Price , Rivian said Friday. The deal comes on the heels of electric car maker Tesla’s meteoric rise in valuation and the recent public offering of Nikola Corp NKLA.O. Both Tesla and Nikola are planning…

"Tesla rival Rivian adds $2.5 billion investment led by T. Rowe Price"

Explainer: What you need to know about Trump’s battle with New York over his financial records

WASHINGTON – A U.S. Supreme Court ruling on Thursday allowed the chief Manhattan prosecutor to obtain the financial records of President Donald Trump from third parties. Here is what you need to know: WHAT IS THE CASE? The case concerns a subpoena issued to Trump’s longtime accounting firm Mazars LLP for the president’s financial records, including tax returns. It was issued as part of a grand jury investigation into the Republican Trump carried out by…

"Explainer: What you need to know about Trump’s battle with New York over his financial records"

VW’s labour chief sees no need for more cost cuts

FRANKFURT – Volkswagen’s labour chief Bernd Osterloh has been on a roadshow to tell analysts and investors the carmaker has no need for deeper cost cuts in Germany. Existing cost reduction measures, agreed in 2016, will be enough to help the company to overcome the coronavirus crisis, Osterloh said, according to an analyst note from MainFirst. “Osterloh stated that the Future Pact program that was initiated in 2016 is still driving cost down. That gives…

"VW’s labour chief sees no need for more cost cuts"

VW’s Skoda boss Maier to step down at end of July

PRAGUE – Bernhard Maier, chairman of Czech carmaker Skoda Auto, part of the Volkswagen Group , will leave his post at the end of July after nearly five years, the company said on Thursday. Skoda, which did not give a reason for Maier’s departure, said a successor would be elected by the board in August. The car group is the Czech Republic’s biggest exporter and a bellwether for the economy, which faces a steep drop…

"VW’s Skoda boss Maier to step down at end of July"

Prominent plaintiffs’ firms sought government bailout to stay afloat

NEW YORK – Several prominent plaintiffs’ law firms, known for striking large settlements with companies like German carmaker Volkswagen AG and Equifax Inc, were approved for loans that totaled tens of millions of dollars in government aid meant to help small businesses stay afloat during the coronavirus pandemic. San Francisco-based Lieff Cabraser Heimann & Bernstein, which has 100 lawyers and bills itself on its website as “among the largest law firms in the United States…

"Prominent plaintiffs’ firms sought government bailout to stay afloat"

Aston Martin’s first SUV rolls off production line

LONDON – Aston Martin’s first sport utility vehicle rolled off the production line on Thursday, key to hopes of a turnaround at the luxury carmaker which has seen changes in management and ownership over the last few months amid a torrid performance. Popular for being James Bond’s carmaker of choice, the firm has had a difficult time since it floated in 2018 as sales disappointed and it burnt through cash, prompting it to seek fresh…

"Aston Martin’s first SUV rolls off production line"

Ford’s second-quarter China vehicle sales rise 3% year-on-year to 158,589 units

BEIJING – Ford Motor Co said on Thursday that its China vehicle sales rose 3% between April and June this year from a year earlier to 158,589 units. The Dearborn, Michigan-based company said in a statement that the sales rise was driven by “strong demand following the lifting of COVID-19 pandemic restrictions.”

"Ford’s second-quarter China vehicle sales rise 3% year-on-year to 158,589 units"