The impact of the global semiconductor shortage on the auto industry spread on Saturday, as Stellantis warned its highly profitable pickup trucks were hit, while Ford Motor Co said it would cut more U.S. production.
Tesla Inc chief executive Elon Musk said on Saturday his company would be shut down if its cars were used to spy, his first comments on news that China's military has banned Teslas from its facilities.
Europe's airlines and travel sector are bracing for a second lost summer, with rebound hopes increasingly challenged by a hobbled COVID-19 vaccine rollout, resurgent infections and new lockdowns. Airline and travel stocks fell on Friday after Paris and much of northern France shut down for a month, days after Italy introduced stiff business and movement curbs for most of the country including Rome and Milan. The setbacks hit recovery prospects for the crucial peak season, whose profits typically tide airlines through winter, when most carriers lose money even in good times.
The Chinese military has banned Tesla cars from entering its complexes, citing security concerns over cameras installed on the vehicles, two people who have seen notices of the directive told Reuters.
U.S. Secretary of Commerce Gina Raimondo said on Friday that addressing a shortage of semiconductors is top of mind, following a meeting with semiconductor industry executives.
Volkswagen will suspend auto production in Brazil for 12 days as of March 24 due to the worsening COVID-19 pandemic in the country, the company said in a statement on Friday.
The supply chain hiccups that dented Nike Inc's third quarter sales are mostly behind them, analysts said on Friday, after executives said the sporting goods giant had adjusted inventories and other areas to avoid a recurrence.
Manchester United will sport German software firm TeamViewer's logo on their shirts from next season, drawing a line under a deal carmaker Chevrolet which has sponsored them for the past seven years.
Volkswagen luxury unit Porsche AG is open to the idea of a potential stock market listing, with finance chief Lutz Meschke saying the advantages of such a move had been laid out.
Toyota's Czech unit Toyota Motor Manufacturing Czech Republic will halt production at its car plant in Kolin, east of Prague, for 14 days from March 22 due to a shortage of semiconductors, news agency CTK reported on Friday.
Italy's industry minister said he and France's Bruno Le Maire had not discussed the idea of Rome buying a stake in carmaker Stellantis at a meeting on Friday.
Vietnam's largest conglomerate Vingroup said on Friday its car unit was in early stage talks with Taiwan's Foxconn about working together and that any partnership formed would focus on developing batteries and electric car parts.
China's Geely plans to roll out electric vehicles under a new marque with different branding and sales strategies, people familiar with the matter said, as the Volvo owner looks to take on its main EV rival Tesla with higher-end vehicles.
Ford Motor Co said on Thursday it will for now assemble its flagship, highly profitable F-150 pickup trucks and Edge SUVs in North America without certain parts and idle two assembly plants due to the global semiconductor chip shortage.
Toyota Motor Corp said on Thursday it had reported possible violations of anti-bribery laws involving a subsidiary in Thailand to the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DoJ).
Nike Inc's quarterly sales missed estimates due to shipping issues and a pandemic-related slump at brick-and-mortar stores, and investors were disappointed by the world's biggest athletic shoe maker's full-year revenue forecast.
The U.S. government is working to help American miners and battery makers expand into Canada, part of a strategy to boost regional production of minerals used to make electric vehicles and counter Chinese competitors.
The U.S. auto safety agency disclosed on Thursday it has opened 27 investigations into crashes of Tesla vehicles, 23 of which remain active, and at least three of the crashes occurred in recent weeks.
Lordstown Motors Corp shares plunged nearly 12% on Thursday after the electric pickup truck firm disclosed a regulatory inquiry over a short seller's report claiming the company was using "fake" orders to raise capital.