Posted on

Auto Dinosaurs Show They’re Not Dead Yet

A year ago, investors had pretty much given up the big global carmakers for dead. Shares of Daimler, General Motors and Ford Motor were at 10-year lows. Electric vehicle start-ups without any sales were sometimes worth more than traditional automakers with tens of thousands of employees and factories all over the world. The pandemic looked as if it would seal the dinosaurs’ fate.But it turns out the old behemoths may not be doomed just yet. Earnings reported by Daimler on Thursday underlined a remarkable comeback by some traditional carmakers. These companies have managed to survive the pandemic, reorient to …

Read More

Posted on

How a High-Ranking Nissan Executive Escaped His Own Trap

The matter weighed on him. In 2010, Mr. Kelly instructed Mr. Nada to begin the first of a series of secret plans intended to increase Mr. Ghosn’s benefits and compensation, according to court testimony and internal Nissan documents.Executive compensation was a perilous political issue in France, Mr. Nada testified earlier this month, and if Mr. Ghosn’s true compensation were revealed, the French government — as a major Renault shareholder — would have pushed the company to fire him.Mr. Nada, 56, had joined Nissan as a junior legal counsel in 1990 and was fiercely loyal to the company. He began his career …

Read More

Posted on

German Automakers Are Charged Up and Ready to Take on Tesla

Next year, Mercedes, a division of Daimler, will introduce the EQS, a battery-powered counterpart to the company’s top-of-the-line S-Class. The EQS, which will cost more than $100,000, will be the first vehicle built with Mercedes’s so-called electric vehicle architecture, the same idea as Volkswagen’s modular toolbox.Daimler says the EQS will be able to travel 700 kilometers, or 435 miles, on a charge. That would be slightly more than the current Tesla S. In 2022, Daimler will introduce additional models based on the electric vehicle platform, including a battery-powered S.U.V., to be produced at the company’s factory in …

Read More