Tag Archives: agreed

News

VW software program developer Cariad cuts prices to keep away from lay-offs

Volkswagen Group’s embattled Cariad software program unit has agreed to chop growth prices in an effort to keep away from mass lay-offs, based on reviews.

Cariad boss and former Bentley manufacturing head Peter Bosch had needed to chop as much as 20% of the unit’s 6500-strong workforce, based on an October report from Germany’s Manager Magazine.

However, the brand new settlement between administration and labour unions will allow Cariad to chop 20% of its prices yearly by 2028, Bloomberg reported, citing a Cariad spokesperson.

Cariad has struggled in its mission to ship a unified software program platform to be used throughout all Volkswagen Group manufacturers as a part of the group’s mission to digitise autos.

Motorsport

Lamborghini Employees Are Working Less For More Money

Lamborghini has agreed to a four-day workweek with extra pay, and the Euro NCAP has given the brand new Hyundai Kona a four-star ranking.

This is AM Drive, Motor1’s every day have a look at the information you want earlier than you get in your automobile.

Lamborghini Agrees To Four-Day Workweek

Lamborghini has flourished beneath the Volkswagen Group’s company umbrella. It’s doing higher than ever when you think about it offered a record 9,233 cars in 2022, up by 10 % in comparison with the earlier 12 months. With the chance of stating the apparent, the Urus was the driving pressure behind the robust demand, with 5,367 SUVs delivered. As a token of appreciation to its workers, the Sant’Agata Bolognese firm is considerably lowering the variety of workdays.

FIOM and FIM-CISL unions have reached what they check with as a “historical” settlement with Lamborghini to tremendously cut back working hours. Production workers on a two-shift schedule are going to alternate a five-day workweek with a four-day workweek. This change will end in 22 fewer workdays every year. Those on a three-shift schedule will alternate a five-day workweek with two four-day workweeks, due to this fact eliminating 31 days yearly.

While chopping workdays often implies wage cuts, the workers are literally going to earn extra. As a part of a wider settlement between the unions and Lamborghini, workers are going to obtain this December a one-off bonus value greater than €1,000. In addition, the Italian unique automaker is growing the worth of variable bonuses by 50 %. It will get higher because the workforce will increase with the addition of 500 new jobs.

Hyundai Kona Gets Four-Star Euro NCAP Crash Test Rating


Motorsport

Feds Fine Toyota $60M For Unfair Lending Practices and False Credit Reports

Toyota Motor Credit Corporation (TMCC), the financing arm of Toyota, has agreed to a $60 million settlement with the Consumer Financial Protection Bureau (CFPB). The CFPB accused TMCC of unlawfully preventing consumers from canceling bundled products often included in vehicle purchases and making false reports that negatively impacted buyers’ credit reports.

According to the CFPB, consumers who wanted to cancel unwanted products were directed to internal customer service teams where the process of getting them removed or refunded was unnecessarily difficult. The specific types of products are not specified, but the added costs ranged from $750 to $2,500 per auto loan. In some cases, Toyota dealerships allegedly misrepresented these products as mandatory, and refunds were sometimes not issued for the full amount. The CFPB reported that 118,000 customers encountered obstacles when trying to cancel unwanted services between 2016 and 2021.

CFPB Director Rohit Chopra stated, “Toyota’s lending arm illegally withheld refunds, made borrowers run through obstacle courses to cancel unwanted services, and tarnished their credit reports. Given the growing burdens of auto loan payments on Americans, we will continue to pursue large auto lenders that cheat their customers.”

On the credit front, the CFPB announced that TMCC falsely reported some accounts as delinquent to credit agencies, even though customers had returned lease vehicles. Furthermore, TMCC did not promptly correct these errors, resulting in incorrect data on the credit reports of 27,500 TMC customers, which lowered their credit scores.

Although Toyota admitted no wrongdoing, it agreed to the terms of the settlement. In a statement to Motor1, Toyota said, “Toyota Motor Credit Corporation is committed to doing what’s right for our customers and strives to consistently follow all federal and state laws in our sales, customer service, and administrative practices.”

As part of the settlement, TMCC will pay $48 million to affected customers and a $12 million penalty to the CFPB victims relief fund.

News

Official: Audi and SAIC to collaborate on EV development

Audi and Shanghai Automotive Industry Corporation (SAIC) have agreed to work together on developing electric vehicles, with the aim of strengthening their presence in the Chinese car market. This announcement was made by SAIC, a Chinese state-owned car maker, on Thursday.

The agreement between Audi and SAIC comes after Audi engaged in discussions with SAIC, the owner of MG Motor, about the possibility of sourcing an electric vehicle platform from SAIC’s IM Motors brand. This would serve as an alternative to Audi’s delayed Scalable Systems Platform (SSP) architecture, which is part of the Volkswagen Group.

SAIC stated, “All stakeholders agree that the Chinese auto market is currently undergoing the biggest transformation in its history. Therefore, we will work together on a strategic approach that ensures our future success,” according to Bloomberg.

Audi’s plans to base their future electric vehicles on the SSP architecture have been disrupted due to ongoing software development delays, including the creation of a new operating system known internally as E3 2.0.

E3 2.0 is a crucial component of the SSP architecture, which aims to incorporate level three autonomous driving technology.

As an alternative for models intended for sale in China, Audi is exploring the possibility of using SAIC’s electric vehicle platform, which was developed for the IM L7 saloon and IM LS7 SUV. This platform supports an 800V electric architecture and was originally designed for vehicles ranging from 2800mm to 3200mm in wheelbase length.

Audi, under pressure to improve sales in China, recently announced that Gernot Doellner will take over as CEO, replacing Markus Duesmann. This leadership change is part of Audi’s efforts to restructure the German car manufacturer.

News

Yamaha President Supports Hydrogen Development for Future Projects

In both the automotive and motorcycle industries, there is a consensus that electric power is the future. This is evident in the growing number of electric motorbikes and scooters in the European and Asian markets. However, Yamaha believes that there are other possibilities for the future beyond electric power.

While Yamaha is actively involved in electric development, the company is also exploring other alternatives, such as its e-fuel program. In an interview with Japan Times, Yamaha President and CEO Yoshihirro Hidaka stated that the company is taking a multifaceted approach to find alternatives to gasoline engines in order to achieve carbon neutrality.

Yamaha And Kawasaki Join Forces To Build Hydrogen Engines

One of these alternatives is hydrogen. While electric vehicles are gaining popularity, the potential of hydrogen should not be overlooked. Hydrogen-powered cars, like the Toyota Mirai, already exist. However, Yamaha is focusing on preserving the internal combustion engine with hydrogen power. Yamaha has taken the lead in testing hydrogen technology among Japanese two-wheeler manufacturers and is also testing battery technology and carbon-neutral fuel.

Yamaha has experience with hydrogen-powered combustion engines, as it collaborated with Toyota to develop the engine for the world’s first liquid-cooled hydrogen race car. However, hydrogen fuel has some drawbacks, such as lower fuel efficiency compared to traditional gasoline. Additionally, the infrastructure for hydrogen refueling is not as widespread as EV charging stations. Despite this, electric vehicles were also considered niche technology at one point, and they have gained rapid acceptance in recent years.

Japan’s automotive industry has a significant influence on the global market. With Yamaha’s commitment to innovation and technology, along with other key players in the industry, they have the power to shape the future of mobility. Yamaha aims to have the necessary technology ready and available for mass development when the world moves in that direction.