Two American men accused of smuggling Nissan Motor Co. Chairman Carlos Ghosn out of Japan while he was awaiting trial on financial misconduct charges can be extradited, a federal judge ruled Friday. U.S. Magistrate Judge Donald Cabell issued a ruling approving the extradition of Michael Taylor, a U.S. Army Special Forces veteran, and his son Peter Taylor, but the final decision rests with the State Department. The Taylors are wanted by Japan so they can be tried on charges that they helped Gho
Tesla's will use its plant in Brandenburg, Germany to demonstrate a radical overhaul of how its cars are built, as well as making electric car battery cells and battery packs, Chief Executive Elon Musk said on Thursday. Tesla plans to manufacture a new version of its Model Y crossover vehicle, and possibly even battery cells at the site. Tesla wanted to help accelerate a transition to sustainable energy, not just build cars, Musk said.
France's Renault said on Thursday it was moving to a new organisational set-up focused on core brands rather than geographies, in the first move by new Chief Executive Luca de Meo to shake up the loss-making carmaker. Renault, which took aid in the form of a state-backed loan from the French government this year, is trying to recover from the coronavirus pandemic while also patching up a strained relationship with Japanese partner Nissan . De Meo, who used to run competitor's
Korean automakers Hyundai and Kia are recalling over 600,000 vehicles in the U.S. and Canada to fix a brake fluid leak that could cause engine fires. The recalls cover more than 440,000 Kia Optima midsize sedans from 2013 through 2015 and Kia Sorento SUVs from 2014 and 2015. Also covered are 203,000 Hyundai Santa Fe SUVs from 2013 to 2015.
Market analysts and traders called it a near-term profit-taking, triggered by the company's plan to raise $5 billion from the market and the stake sale by the second largest shareholder Baillie Gifford, in a stock that has surged fivefold in 2020. Meanwhile, Edinburgh-based Baillie Gifford told Herald Scotland the investment firm remains a "strong supporter" of Tesla, but had to sell its passive stake due to norms that limit the weight of a stock in clients' portfolios. Gifford cut its stake t
San Jose-based QuantumScape, a 2010 spinout from Stanford University, said it will form a joint venture with VW to produce solid-state battery cells, starting in 2024, for the German automaker's electric vehicles, and eventually for other carmakers. "Our ambition is to be a (battery) supplier to the industry as a whole," QuantumScape founder and CEO Jagdeep Singh said in an interview.
A Minnesota man who attended the Sturgis Motorcycle Rally in South Dakota last month has died from COVID-19, Minnesota health officials reported on Wednesday. It is the first reported coronavirus death that might be linked to the biker rally. The 10-day rally went forward despite fears it could become a super-spread event, with South Dakota Gov. Kristi Noem welcoming bikers and the tourist dollars they spend.
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.
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