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Mikael Sjoberg | Bloomberg | Getty Images Swedish-based automaker Volvo Cars on Tuesday announced cost-cutting plans of 18 billion Swedish krona ($1.87 billion) as its operating profit fell sharply in the first three months of the year. Volvo Cars, which is owned by China’s Geely Holding, reported first-quarter operating profit of 1.9 billion krona, down … Read more
Hyundai celebrated the opening of its new $7.6 billion electric vehicle factory in Georgia on Wednesday by announcing plans to expand its production capacity by two-thirds to a total of 500,000 vehicles per year. The news came as President Donald Trump announced 25% tariffs on auto imports at the White House. Hyundai will be spared from those … Read more
Vehicles are offered for sale at a Nissan dealership on December 18, 2024 in Libertyville, Illinois. Scott Olson | Getty Images In its most recent quarterly results, Nissan said it would cut 9,000 jobs and reduce global production capacity by a fifth. The automaker has “been struggling in the market, it’s been struggling at home, … Read more
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