August 6, 2024, Ankara – According to the Turkish Ministry of Economy, Turkey’s foreign direct investment (FDI) is projected to increase by at least 20% this year. This growth is attributed to a series of policies and reforms implemented by the Turkish government to encourage foreign investment, including tax incentives and streamlined administrative procedures. Turkish Economy Minister Mehmet Albayrak stated at a press conference today, “We are optimistic about the growth of foreign direct investment and believe this trend will continue. We are committed to providing a more investor-friendly environment to promote investment and economic development.” It has been reported that Turkey is currently in talks with two […]
Bridgewater Interiors, a seat supplier to Stellantis, has announced plans to lay off 63 employees at its Detroit (USA) plant after the company discontinued production of its Ram 1500 Classic model, according to a report in the media. A WARN notice filed with the state of Michigan by the seat supplier shows that the company expects to make this round of permanent layoffs by the end of September this year. Affected employees represented by UAW Local 600 will be paid their due wages and fringe benefits once they are laid off, the filing shows.Bridgewater declined to comment on the […]
According to foreign media reports, Jaguar Land Rover’s chief financial officer Richard Molyneux told investors that the company’s main supplier Novelis plant was disrupted by flooding, which triggered a shortage of aluminum, which is the biggest obstacle the company is facing at present.Molyneux said the shortage of the key material will “limit the company’s production for the rest of this quarter and next quarter”. Molyneux said the shortage of key materials would “limit the company’s production for the remainder of the quarter and into the next quarter”. Flooding caused by torrential rains in July led to a temporary shutdown of Novelis’ plant in […]
Mercedes-AMG has unveiled the 2024 SL63 S E Performance PHEV, a groundbreaking addition to the iconic SL roadster lineup. This latest model combines high-performance engineering with advanced plug-in hybrid technology, marking a new era for the renowned sports car. The 2024 SL63 S E Performance PHEV boasts a powerful hybrid drivetrain that merges a high-output 4.0-liter V8 engine with an advanced electric motor. Together, they deliver an impressive combined output of 791 horsepower and 737 lb-ft of torque, providing an exhilarating driving experience. The vehicle’s innovative hybrid system allows for an all-electric range, offering drivers the flexibility of short trips on electric power alone, while the V8 engine ensures […]
The China Automobile Dealers Association (“CADA”) today released the latest “China Automobile Dealers Inventory Alert Index” (VIA), showing that in July 2024, the VIA for Chinese automobile dealers reached 59.4%, representing an year-on-year increase of 1.6 percentage points but a month-on-month decline of 2.9 percentage points. The index is above the boom-bust threshold, indicating that the automobile circulation industry is in a sluggish zone. The month of July traditionally marks the off-season for the car sales, with overall performance remaining stable. Recently, several automakers, including BMW, announced their exit from the ongoing price wars in the Chinese auto […]
On July 31, autonomous driving solution provider Pony.ai and global multi-modal transport operator ComfortDelGro Corporation signed a Memorandum of Understanding (MoU) at the 14th Singapore-Guangdong Collaboration Council Meeting. The partnership aims to accelerate the large-scale commercial deployment of autonomous taxis (Robotaxis). Pony.ai has pioneered city-level deployment of fully unmanned driving services in China, with approvals to operate unmanned Robotaxis in Beijing, Shanghai, Guangzhou, and Shenzhen. ComfortDelGro, with a global taxi fleet of over 29,000 vehicles, brings extensive operational experience and fleet management capabilities. This collaboration marks a significant innovation in global mobility, showcasing a new cooperative model […]