Automotive

The joint venture between Toyota and China’s state-owned Guangzhou Automobile Group (GAC) laid off the workers over the weekend and offered them compensation.

Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as a new $24,000 car, a person with direct knowledge of the matter told Reuters.

Plastic Omnium said revenue increased 35 percent through June, as the supplier anticipates price battles among automakers as they deal with a slowdown in EV orders, particularly in Europe. Net income fell 4 percent.

The deal values ZF Chassis Modules at $1.11 billion and will allow the companies to expand their ranges of internal combustion engine and electric vehicle products.

Unifor President Lana Payne signaled that Canada’s auto union will take a different approach to this summer’s contract negotiations than the UAW in the U.S.

The company now includes seven-year loans as an option on its U.S. order pages, after previously offering loans as long as 72 months. In Canada, Tesla is offering 96-month loans.

Honorees included GM CEO Mary Barra, Gentex co-founder Fred Bauer, racer Juan Manuel Fangio, Honda co-founder Takeo Fujisawa, Ford designer McKinley Thompson Jr. and Hot Wheels designer Larry Wood.

A federal appeals court said it will reconsider its recent decision that Tesla’s Musk violated federal labor law when he tweeted that employees would lose stock options if they joined a union.

The critical capital raise will help Aurora launch its autonomous trucking business by the end of 2024.

A hailstorm damaged vehicles at a dealership in Davison, Mich., on Thursday