Hester has been president of LM Manufacturing since 2019 and spent the preceding two decades in the C-suite of procurement and logistics supplier Global Automotive Alliance. He will have a 51 percent ownership position in LAN Manufacturing and supervise operations, while Magna supplies funds for the $18 million build-out of the seating facility. Hester said the JV provides a chance to put his wide manufacturing skill-set to work while also offering 390 new employment earning an average of $900 per week with perks. “The transition, the pivot that (Magna) made, which I thought was brilliant in terms of, ‘Hey we’re…
Author: hendfares88
In spite of the fact that some Ukrainian suppliers have managed to keep their businesses running during the war, Russia’s invasion of the nation has left many automakers without the components they require. “The good news is that some suppliers are still in operation, and others have already reopened,” Schuster said of the situation. “There’s a little bit of flow coming out. Overall, however, it is the close proximity that has left [the German missions] particularly vulnerable.” The Volkswagen Group, in particular, has suffered as a result of the supply chain interruptions. According to LMC, five Volkswagen plants lost more…
Jeep knew exactly where to go with its message when electrification arrived. The brand known for off-road adventures has kept its 4xe line of plug-in hybrids outdoorsy. In 2020, Jeep began promoting the Wrangler 4xe’s quiet ride, claiming it accentuated the sounds of nature. Then came Jeep’s “Pale Blue Dot” ode to Earth preservation, featuring scientist Carl Sagan and the Wrangler plug-in. As a result, Jeep has created a mission statement of “Zero Emission Freedom” and has branded charging stations at trailheads across the US. “Jeep loves nature, and we want nature to know it,” said Olivier Francois, Stellantis’ CMO.…
An employee at a Toyota dealership in northern Illinois was shot and killed Thursday night, authorities said. Anderson Toyota employee Daniel R. Johnson, 29, was shot in Loves Park, Ill., police said. Paramedics came to the dealership and tried to save Johnson’s life, but he perished. Roman C. Richmond, 27, was accused with the shooting. A felony charge of murder was filed against Richmond on Friday, along with two other charges: aggravated violence with a firearm and aggravated unauthorised use of a weapon. Winnebago County Jail holds Richmond without bail. He was wanted for theft, criminal trespass, home burglary, and…
Musk and Tesla each paid $20 million in civil penalties and Musk resigned as Tesla’s chairman to satisfy SEC allegations that Musk deceived investors on Aug. 7, 2018, by tweeting that he had “funding secured” to take Tesla private. According to the SEC, the accessible funds have since increased to almost $41.2 million, including interest. Musk’s attorney, Alex Spiro, declined to comment. Musk is attempting to void his 2018 deal with the SEC, which requires that his tweets be pre-approved by a Tesla lawyer if they may be relevant to investors. Continue reading for the complete story. The SEC has…
Along with serving as a replacement for the privately owned Ambassador Bridge, the new span will aid in congestion relief. The Howe bridge connects directly to Highway 401 in Ontario and Interstate 75 in Michigan. The two multilane highways — at times as large as 18 lanes near Toronto — are a vital artery for the automobile sector in both nations, connecting supplies to automakers. However, the nearly century-old Ambassador suspension bridge is not completely connected to the Canadian side’s divided highway. “[The new bridge] improves trip repeatability and, more significantly, predictability, which is critical in today’s commercial context, when…
Plastic Omnium SA agreed to acquire AMS-Osram AG’s automotive lighting division for 65 million euros ($72 million), a move that will bolster the French company’s expansion into new market categories. According to a statement Friday, the firms expect the acquisition to completion in the third quarter of 2022 and declined to comment further on integration preparations. Bloomberg News previously reported that the corporations were in the final stages of negotiations on a merger. “The acquisition of AMLS is a once-in-a-generation chance to significantly expand our presence in the booming innovative lighting systems area,” Plastic Omnium CEO Laurent Favre stated. Automotive…
in Stanton, Texas bought the former BF White Motor Co. from Sam Toliver and Shelton Toliver in February. Bailey Toliver Ford was renamed in its place. Shelton Toliver is the general manager of Sam Toliver’s dealership. According to Tom Choate, an Abilene, Texas attorney who represented the buyers, Ronda Ireton was the selling company’s main shareholder in the Feb. 16 deal. His wife, Ronda Ireton, was married to Danny Ireton, who had worked his way up from service technician to owner of the Ford dealership. On top of that, Danny Ireton was an active member of the fire department as…
More than 400 horsepower is expected from the standard-output six, while more than 500 horsepower is expected from the high-output version. With a standard engine, the torque output is 475 pound feet; with a high output engine, it’s 450 pound feet. All of these numbers beat out Jeep and Ram’s 5.7-liter Hemi V-8 in every way. 357 horsepower and 390 pound-feet of torque are produced by this engine. The V-6’s power and torque numbers are 293 hp and 260 lb-ft, respectively. In part, the new sixes’ V-8-like power is the result of numerous high-tech features. For example, a turbocharger powers…
Nikola Corp. stock soared after the company started producing revenue-generating trucks and showed progress on hydrogen infrastructure. Nikola announced the achievements late Wednesday to Wall Street analysts. Thursday’s gain of up to 19% was the biggest intraday gain since Dec. 23, but after-hours trading saw the shares rise only slightly to $9.67. The Coolidge, Arizona-based firm sees itself as a leader in clean-energy heavy vehicles, alongside Tesla Inc. and Volvo AB. A supply-chain issue halted the launch of Nikola’s battery-electric truck while the company’s founder was indicted. Wall Street greeted Nikola’s updates with joy. JPMorgan analysts said they were impressed…