One of General Motors Co’s China ventures will recall nearly a million vehicles due to fuel tank problems, the country’s quality watchdog said, the latest in a spate of major auto recalls in China over the last few months. SAIC-GM-Wuling…
Category: Industry News
Mitsubishi Cable head quits over data falsification scandal
The head of Mitsubishi Cable Industries Ltd has stepped down following the firm’s admission last week that it had manipulated inspection data of rubber sealing products. The company is one of three Mitsubishi Materials Corp units to have disclosed that…
Volkswagen brand forecasts record sales of over 6 million models
The Volkswagen car brand expects deliveries to hit a record this year and raised its midterm profitability forecast, citing cost cuts and expanding ranges of higher-margin models. While the emissions scandal of September 2015 has cost Volkswagen (VW) billions of…
Continental celebrates stone-laying ceremony at its plant in Rayong, Thailand
Continental recently celebrated the Foundation Stone Laying Ceremony, marking the start of construction of its new Greenfield tyre plant in Rayong, Thailand. The ceremony was attended by Chalee Chotiwong, Chief of Provincial Administration Organization for Maenamkoo district, as well as…
China’s NIO Capital eyes US$500 million dollar fund for auto investments: sources
NIO Capital, an investment firm founded by leading Chinese electric vehicle maker NIO, is in talks with prospective investors to raise up to US$500 million in a dollar fund aimed at the country’s auto sector, people with knowledge of the…
Hyundai Motor resumes work at Kona sport utility after two-day strike
Hyundai Motor workers resumed production of the Kona sport utility vehicle late on Tuesday, after a nearly two-day strike over the company’s decision to expand the model’s output ahead of its launch in the United States. Hyundai has been in…
Shares of glove-maker Supermax dips after founder charged for insider trading
Shares in Malaysia’s Supermax Corp Bhd, fell sharply on Monday after its founder was convicted of insider trading concerning another company he used to head, and sentenced to five years in jail. Supermax is the world’s No. 2 maker of…
Lotte Versalis Elastomers new complex in South Korea
Lotte Versalis Elastomers, a 50:50 joint venture between Italys’s Versalis (Eni) and South Korean petrochemical firm Lotte Chemical have opened a new integrated industrial complex for the production of elastomers in Yeosu, South Korea. The company says the new plant…
Felcra develops 6,500 hectares of idle land in Kelantan, Malaysia
Felcra Berhad has so far developed 6,500 hectares of idle land in Kelantan with the involvement of 2,000 settlers said Malaysia’s Deputy Rural and Regional Development Minister Datuk Ahmad Jazlan Yaakub. He said this was relatively small as compared with…
CEO of Malaysian glovemaker Supermax convicted with insider trading charges
The chief executive of Malaysian rubber glove maker Supermax Corp Bhd has been found guilty of insider trading offences, relating to when he was CEO of another company, and has been sentenced to five years in jail, the Securities Commission…