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 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.
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.
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.
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.