Word: peugeot
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Such optimism can be found elsewhere. The Kaluga region, to which Lyudinovo belongs, continues to draw in foreign investors, including automakers. Volkswagen has invested about $350 million in an assembly plant and is producing about 320 cars per day. Peugeot is not far behind. Dietmar Korzekwa, VW's group representative for Russia, says the automaker is continuing with its current growth plans. In part, VW is betting that if the Kremlin raises import taxes on autos, as it has suggested it might, it will become more advantageous to manufacture in Russia...
Such optimism can be found elsewhere. The Kaluga region to which Lyudinovo belongs continues to draw in foreign investors, including automakers. VW has to date invested about $350 million in an assembly plant, and is producing about 320 cars per day. Peugeot is not far behind. Dietmar Korzekwa, VW's group representative for Russia, says the automaker is continuing with its current growth plans. In part, it's betting that if the Kremlin raises import taxes on autos, as it has suggested it might, it will become more advantageous to manufacture in Russia...
...plunging consumer demand - new-car sales across Europe dropped 14.5% in October - France's two major automakers, Renault and Peugeot-Citroen, have temporarily shut down production at several plants. Peugeot is expected to present a plan Tuesday to cut 2,700 jobs. In Germany, Chancellor Angela Merkel has been more cautious in response to the crisis, and warned against precipitate state intervention. Still, Berlin is expected to approve up to $1.26 billion in loan guarantees for Opel if parent company GM goes under...
...Company results and announcements out today will further darken the picture. In France, for example, the country's two major automobile manufacturers - Renault, and the PSA group that makes Peugeot and Citroën cars - said they will temporarily close all their domestic factories this week, and have asked employees to stay away on paid leave in response to shrinking demand. Germany's Ifo Institute, meanwhile, said its primary activity index, which measures industry and trade activity, fell to a five-year low last month...
Hayashi reckons the TOP03 has a top speed of 193mph, fast enough to spar in the LM P1 class with well-financed factory teams from Audi of Germany and France's Peugeot. The immediate goal is to complete the race, but Hayashi is already aiming at a podium finish at Le Mans within three years. At the same time, he hopes his students will learn more than engineering. "To win, the team is the most important," Hayashi says. "However advanced your machine may be, it's the people who bring out the best. I hope they will cherish each moment...