Renault to Liquidate Business in Russia Including Lada Stake

Fourth EstateRenault logo on the company's Moscow Russia plant

Renault announced that it is liquidating its business in Russia including its shares in Lada. “The Board of Directors of Renault Group unanimously approved the signing of agreements to sell 100% of Renault Group’s shares in Renault Russia to Moscow …

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International Arrest Warrant Issued for Carlos Ghosn

Fourth EstateCarlos Ghosn speaking at the 2013 meetig of the World Economic Forum in Davos, Switzerland, - Remy Steinegger

French authorities have issued an international arrest warrant for former Nissan boss Carlos Ghosn and four others over  “misuse of corporate assets and money laundering.” Ghosn was first arrested on charges of financial misconduct in 2018, for allegedly under-reporting his …

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Uber Halts Operations in Tanzania

Uber, the ride-hailing service, ceased their operations in Tanzania after six years. Uber’s announcement came in the form of a statement addressed to customers across the country, revealing that it will not resume its operations in Tanzania until an agreement …

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Excell Auto Group Accused of Engaging in Massive Fraud

Fourth EstateScott Zankl of Excell Auto Group of Boca Raton, Florida

Excell Auto Group, a luxury car dealership in Boca Raton, Florida, faces lawsuits for allegedly engaging in a multi-million dollar fraud. The latest lawsuit filed by Prestige Luxury Cars in Palm Beach County Circuit Court claimed that Excell did not …

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San Francisco Police Pull Over Driverless Vehicle

Fourth EstateSan Francisco police officers stopped a self-driving Cruise vehicle without a driver and passengers due to a headlight issue. - via Instagram

San Francisco police officers stopped a self-driving Cruise vehicle without a driver and passengers due to a headlight issue. A video of the incident on Instagram from Brandon Melim showed the officer peering in the driver’s side window for a …

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Renault Continues Operations in Russia Despite International Brand Pullout

Fourth EstateRenault Logo 2021 - Renault

French car maker Renault resumed its productions in Moscow on Monday as other international firms shut off their operations in Russia. Over 400 companies had reduced or halted operations in Russia as a response to the call of European and …

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Tesla Opens German Gigafactory

Fourth EstateTesla Gigafactory Berlin

Tesla opened a $5.5 billion worth Gigafactory in the city of Grunheide, Germany. The Gigafactory, located near Berlin, produced its first 30 Model Y Performance vehicles, which have been delivered to its buyers.  The Tesla establishment is set to provide …

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US Trade Deficit at New Record from Higher Vehicle, Energy Imports

The U.S. trade deficit hit a new record in January as imports of vehicles and energy supplies surged while export growth slowed down. The gap in foreign trade widened to a record-large $89.7 billion deficit in January, the Commerce Department …

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Ford Suspends Joint-Venture Operations in Russia Over Invasion on Ukraine

United States automobile manufacturer Ford has suspended its joint-venture operations in Russia “until further notice,” citing the Russian invasion of Ukraine. Ford announced in a statement on March 1 that it has informed its partners that it was suspending its …

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