businessindustry5.685 min read
"Fujifilm's $1.2B Investment to Bring 680 New Jobs to North Carolina"
1 year ago•Source: WRAL News
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2.07 min•1 year ago
"Longi, World's Largest Solar Company, to Cut Thousands of Jobs Amid Price Drop"
China's LONGi Group, the world's largest solar panel maker, is set to lay off up to 30% of its workforce to streamline operations and cut costs amid fierce competition and plummeting solar panel prices. The company disputes the 30% figure, stating that job reductions will amount to around 5% of its workforce. The global solar market is experiencing a glut of panels, leading to intense competition and forcing companies to sell at or below production costs. Despite the challenges, China's solar industry may see a rebound by year-end, with a projected rise in margins in 2025 due to consolidation and a better balance between supply and demand.
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"Ford CEO Considers Future Factory Locations After UAW Strike"
Fortune•1 year ago
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Albemarle's Cost Reductions Boost Profits Amid Low Lithium Prices
MINING.com•1 year ago
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"Ford CEO to Reevaluate Vehicle Production Locations Post Autoworkers Strike"
Originally Published 1 year ago — by Yahoo Finance
Ford CEO Jim Farley stated that the company will reconsider its manufacturing footprint following last year's UAW strike, emphasizing the need to carefully evaluate where future vehicles are built as the company transitions to electric vehicles. The strike led to significant wage gains for UAW workers, contributing to Ford's $7 billion annual cost disadvantage compared to competitors. Ford is focusing on smaller, lower priced EVs and work vehicles, with plans to develop a smaller, more affordable EV to take advantage of U.S. federal tax credits.
Siemens Energy Expands Operations in North Carolina, Creating Over 700 New Jobs
Originally Published 1 year ago — by NC.GOV (.gov)
Siemens Energy is expanding its operations in North Carolina, creating 559 jobs and investing $149.8 million to establish its first manufacturing site in the United States for Large Power Transformers in Mecklenburg County. The expansion also adds positions to the company’s engineering operations in Wake County. The project is expected to strengthen the electrical grid, meet growing energy demand, and contribute to the state’s economy. The average salary for the new positions will be $87,036, and the project is facilitated by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee.
"Exposing the Dark Side of Life Coaching"
Originally Published 1 year ago — by BBC.com
The life coaching industry, worth billions and rapidly growing, has seen a surge in demand due to the mental health fallout from the pandemic and people re-evaluating their priorities. While many clients find value in the services, concerns about the lack of regulation have led to reports of unqualified and predatory practitioners taking advantage of vulnerable individuals, with some spending thousands on substandard courses. Despite this, there are success stories, and organizations like The Association of Coaching and the European Mentoring and Coaching Council have standards for their members. It's important for potential clients to approach life coaching with caution and skepticism.
"PM Modi's Vision for Indian Automotive Industry and Infrastructure"
Originally Published 1 year ago — by IndiaTimes
PM Modi addressed the Bharat Mobility Global Expo, emphasizing the potential of India's growing middle class to drive vehicle sales and urging automakers to ensure the presence of made-in-India vehicles in global markets. He encouraged collaboration and local sourcing, highlighting the need for greener vehicles and the emergence of a neo-middle class with increasing mobility aspirations. Modi also urged the industry to explore research in battery manufacturing using India's raw materials and emphasized the government's commitment to supporting the sector through initiatives like the Production Linked Incentive Schemes.
Toyota Halts Shipments and Faces Testing Scandals
Originally Published 1 year ago — by Jalopnik
Japanese transport officials raided a Toyota-affiliated plant after the company admitted to cheating on engine testing, while Toyota Motor Corp. reported selling over 11 million vehicles in 2023. The raid targeted a Toyota Industries Corp. plant in central Japan, and Toyota Chair Akio Toyoda vowed to steer the company out of scandal and ensure the group's commitment to making good cars. The subsidiary produces parts for Toyota vehicles and factories, including engines for several popular models.
"Business Insider Slashes 8% of Workforce in Latest Layoffs"
Originally Published 1 year ago — by CNN
Business Insider announced it will cut 8% of its staff as part of a refocusing effort, joining a wave of news organizations undergoing layoffs due to industry challenges. The CEO cited the need to prioritize efforts for the future, with affected employees receiving at least 13 weeks of pay and medical insurance. This move comes amid similar actions by other major news outlets, reflecting the broader struggles faced by the industry due to advertising challenges and the decline of traditional business models.
"Electric Vehicles Pose Threat to Slovakia's Car Industry, Risking Job Losses"
Originally Published 2 years ago — by Bloomberg
Slovakia, known for being one of the world's largest car producers, is facing a threat to its successful car industry as the transition to electric vehicles jeopardizes its vast supply chain. The town of Dolny Kubin in northern Slovakia, home to investors such as Austrian auto parts maker Miba AG, reflects the challenges posed by this transition, putting the future of the country's car industry at risk.
"Boeing CEO's 2024 Revival Strategy Suffers Early Setback"
Originally Published 2 years ago — by Bloomberg
Boeing's reputation for manufacturing quality is under scrutiny after a series of incidents, including wrongly drilled holes, loose rudder bolts, and a fuselage section detaching mid-flight on a new aircraft. These issues pose a significant challenge to the company's CEO, who is attempting a comeback for the aerospace giant in 2024, especially with the 737 Max, which is central to Boeing's financial recovery.
Honda Explores $14 Billion EV Plant in Canada
Originally Published 2 years ago — by Bloomberg
Honda Motor Co. is considering investing as much as $14 billion to build an electric vehicle plant in Canada, with plans to make a decision by the end of the year and potentially bring the new site online as soon as 2028, according to a report by Nikkei. The company is reportedly looking at several potential sites, including one next to an existing automobile factory in Ontario.
Gotion to Invest $2 Billion in Illinois for Massive EV Battery Gigafactory
Originally Published 2 years ago — by Illinois.gov
Gotion, a leading battery manufacturer, has announced plans to invest $2 billion in a new electric vehicle (EV) lithium battery manufacturing plant in Manteno, Illinois. The plant is expected to create over 2,600 new jobs and will focus on lithium-ion battery cell and battery pack production. Gotion's decision to locate its gigafactory in Illinois highlights the state's growing reputation as an EV manufacturing powerhouse and will strengthen the American EV battery supply chain. The investment is supported by the REV Illinois incentive package and the new Invest in Illinois fund.