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Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

VW launches 'Think Blue' campaign to pitch green initiatives

Volkswagen is trying to recreate the magic of its 1960s marketing of the Beetle by bringing its "Think Blue." marketing campaign to the United States to promote eco-friendly driving and green initiatives. The campaign - under way in Europe since last year - launches to coincide with a VW partnership with the Museum of Modern Art in New York City and Tuesday's grand opening of its new factory in Chattanooga, Tenn. VW calls the Tennessee plant "one of the world's greenest automobile factories." " 'Think Blue.' " bears witness to our holistic understanding of sustainability," said Jonathan Browning, CEO of the Volkswagen Group of America.

New Volvo Drive-E engine delivers 444bhp – from just 2.0 litres

The new Volvo Drive-E engine (pictured) delivers 444bhp When Volvo announced its new Drive-E engine range would consist of just a single petrol and diesel engine of 2.0 litre capacity, we did wonder if Volvo had given up on the idea of delivering properly powerful road cars. But it seems not. We already know that the T8 hybrid powertrain for the new XC90 will deliver 394bhp, but now Volvo has revealed a Drive-E concept engine that delivers an even more impressive 444bhp without the aid of electric motors and batteries.