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CHENNAI: To strengthen its position in EV segment, Hyundai Motors

An empty Lyft pickup area is shown as ride-share drivers

Mumbai: RBI has come out with final co-lending rules for

Doordash food delivery service in New York City on Feb.

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CHENNAI: To strengthen its position in EV segment, Hyundai Motors India plans to boost sourcing of components from local vendors and improve EV infrastructure. According to annual report 2024-25, to

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Doordash food delivery service in New York City on Feb. 13, 2025. Danielle DeVries | CNBC DoorDash shares climbed about 5% in extended trading on Wednesday after the food delivery

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Nissan cuts 20000 jobs, shuts 7 plants after $4.5 billion loss

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Nissan cuts 20000 jobs, shuts 7 plants after $4.5 billion loss

Nissan Motor Corp is slashing about 15% of its global workforce—around 20,000 employees—and cutting its number of auto plants from 17 to 10, as the Japanese automaker reported a 670.9 billion yen ($4.5 billion) loss for the fiscal year ending in March.The sharp downturn comes amid falling vehicle sales in China and other key markets.The Yokohama-based company outlined the sweeping cuts as part of a broader recovery plan designed to carry out what it called “decisive and bold actions to enhance performance and create a leaner, more resilient business that adapts quickly to market changes.”The company also cited US tariffs on auto imports under President Donald Trump as a factor that hurt its performance.Nissan is targeting a cost reduction of 250 billion yen ($1.7 billion) during the next fiscal year, compared to its results from the year that just ended.The 2024 fiscal year loss marks a dramatic reversal from the previous year, when Nissan posted a 426.6 billion yen profit. Restructuring expenses also weighed heavily on its bottom line.Chief Financial Officer Jeremie Papin told reporters the automaker faces serious challenges in achieving a turnaround, but stressed it has enough financial resources to carry it through. “We have enough cash to do so,” he said.





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