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A worker assembles truck engine cooling module components at the MAHLE Behr Charleston Inc. auto part facility in Charleston, South Carolina, March 20, 2018. Luke Sharrett | Bloomberg | Getty Images The U.S. auto supplier industry was facing challenges heading into this year of slowing sales and investing in emerging technologies such as all-electric and
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Tesla Chief Executive Office Elon Musk speaks at his company’s factory in Fremont, California. Noah Berger | Reuters The Fremont Police Department inspected the Tesla factory in Fremont, California, on Wednesday, after CEO Elon Musk reopened it this weekend in defiance of public health orders. The Covid-19 orders had restricted operations at Tesla’s facility since
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Volvo Car USA’s vehicle subscription program violates several California franchise and consumer protection laws, according to a six-month investigation by the state’s Department of Motor Vehicles. In a letter dated April 28, the department warned Volvo that future violations might lead to “enforcement actions” but stopped short of taking any punitive steps now. The California
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Cruise Origin driverless shuttle Cruise Cruise, General Motors‘ majority owned self-driving vehicle unit, said Thursday in an email to staff that it will be cutting about 8% of its workforce amid the coronavirus pandemic. The cuts are expected to primarily come from outside the company’s engineering operations, including recruiting and human resources, according to a
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Canadian supplier Linamar Corp. reported steep drops in first-quarter sales and net earnings as a result of the COVID-19 pandemic, the company said Wednesday evening. Linamar, based in Guelph, Ontario, said its first-quarter net earnings fell 40.7 percent to $55.7 million (all figures in U.S. dollars). Several global auto suppliers have reported quarterly earnings this
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Morgan Stanley auto analyst Adam Jonas told CNBC on Wednesday that Tesla CEO Elon Musk’s controversial behavior is actually welcomed by some investors.  Musk’s strategy has been “play to win” or “play to dominate,” Jonas said, along with “wanton disregard for traditional business communication norms.”  “While that can ruffle some feathers along the way, many
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CNBC’s Jim Cramer said Tuesday that he sides with Elon Musk in the Tesla CEO’s fight with local officials over reopening the company’s auto manufacturing plant in Alameda County, California, south of San Francisco. “I think he’s dead right,” Cramer said, in reaction to Musk saying that Tesla restarted production at its Fremont factory on Monday,
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