NEW YORK, NY / ACCESSWIRE / April 16, 2018 / Toyota Motor Corporation's majority owned Hino Motors has formed a partnership with Volkswagen Truck & Bus to develop self-driving capabilities and lower-emission vehicles. The two companies have set up an Alliance Board, where the chief executives and senior management members from both companies plan to chalk-up strategies. Yoshio Shimo, president of Hino Motors stated that the board "will also be a strong tie-up at times of new challenges in the field of transportation due to the rapid growth of e-commerce," General Motors made a concerning announcement last week that it would be moving to a single shift at an Ohio plant, which could result in as many as 1,500 jobs being cut.
RDI Initiates Coverage on:
Toyota Motor Corporation
General Motors Company
Toyota Motor Corporation shares closed down a very modest 0.08% on Friday. Toyota's subsidiary Hino Motors, Ltd., which Toyota owns a majority of, is forming a strategic alliance with Volkswagen AG's VLKAY truck-and-bus unit to develop self-driving capabilities and lower-emission vehicles. Volkswagen Truck & Bus GmbH Chief Executive Officer Andreas stated, "We can join forces and spend R&D money only once instead of twice or three times. We see potential to save on our budgets and also to combine our resources to be faster at bringing products to market than we would be alone." The two companies have stated their intention to extend co-operation in the diesel and gasoline-electric hybrid engines.
Toyota Motor Corporation Research Report at:
General Motors Company shares closed down 0.26% this past Friday on about 6.1 million shares traded. The automaker has revealed that it is cutting several hundred jobs at a plant in Ohio due to decline in sales of its Chevy Cruze compact car. The company said it will be cutting second shift operations at the Lordstown plant outside of Cleveland by the end of June. Officials aren't sure yet just how many jobs will be eliminated but it could be as many as 1,500; the exact figure will be confirmed in the next several weeks. Last year, GM had gotten rid of the third shift at the plant and had stopped production for several weeks in the summer as the demand has been shifting from compact cars to trucks and SUVs. This may not have been the news many Americans wanted to read as President Donald Trump had been very vocal about bringing auto jobs back to America.
General Motors Company Research Report at:
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