VW pleaded guilty after being charged with 60 counts of breaching the Canadian Environmental Protection Act and providing misleading information.
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The automaker agreed to voluntarily reduce the remaining value of its state tax credits from $2.6 billion is part of a deal that will require the company to maintain an in-state workforce of at least 34,750 and invest $3.5 billion in Michigan facilities by 2029.
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The automakers and other companies are restricting non-essential travel to Wuhan, the epicenter of the contagion that so far has killed nine people and seen cases spread across the region and even to the U.S.
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The settlement says Tesla may "operate under existing Michigan law; sell cars to Michigan customers as long as the sales contract indicates the sale took place in a state other than Michigan; and, indirectly own service and repair facilities in Michigan through a subsidiary."
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The restraining order will be in place until a preliminary injunction hearing is held Feb. 11 before a judge in Delaware.
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President Trump, during a meeting with reporters on Wednesday, said this about Elon Musk: “I was worried about him, because he’s one of our great geniuses, and we have to protect our genius."
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Maserati tapped former Mitsubishi executive Bernard Loire as its new chief commercial officer, while Paolo Tubito, an ex-Nike executive, becomes its chief marketing officer.
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About 500 jobs will be lost at JLR's plant in Halewood, England, which builds the Range Rover Evoque and Land Rover Discovery Sport.
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Mike Manley said he doesn't expect any major obstacles that could delay a final agreement with the Peugeot owner.
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At current market prices, Tesla’s market capitalization was roughly $107.2 billion, exceeding Volkswagen’s $99.4 billion and trailing only Toyota.
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