FILE PHOTO: The logo of German carmaker Volkswagen is seen at the Volkswagen (VW) automobile manufacturing plant in Puebla near Mexico City September 23, 2015. REUTERS/Imelda Medina/File Photo BERLIN (Reuters) – Volkswagen will invest up to 4 billion euros over the years to 2023 to digitalize its administration and production, the German carmaker said on… Continue reading Volkswagen to invest up to 4 billion euros in digital transformation
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Aptiv says proposed Mexico tariffs to cost $17 mln per month
(Reuters) – U.S. auto parts maker Aptiv Plc said on Tuesday if the Trump administration levied a 5% tariff on Mexican imports, it would cost the company $17 million per month. Speaking at an investor conference in Boston, company executives said Aptiv imports products worth a little over $3 billion a year from Mexico. U.S.… Continue reading Aptiv says proposed Mexico tariffs to cost $17 mln per month
Exclusive: Toyota tells U.S. dealers Mexico tariffs could cost suppliers up to $1 billion
FILE PHOTO: A carrier trailer transports Toyota cars for delivery while queuing at the border customs control to cross into the U.S., at the Otay border crossing in Tijuana, Mexico May 31, 2019. REUTERS/Jorge Duenes DETROIT (Reuters) – Toyota Motor Corp has told its U.S. dealers that it estimates tariffs on Mexican imports threatened by… Continue reading Exclusive: Toyota tells U.S. dealers Mexico tariffs could cost suppliers up to $1 billion
UPDATE 2-Uber says IRS probing its 2013-14 tax returns
(Reuters) – The U.S. Internal Revenue Service is auditing Uber Technologies Inc’s taxes for 2013 and 2014 and the ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million. FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it’s IPO… Continue reading UPDATE 2-Uber says IRS probing its 2013-14 tax returns
Volkswagen’s Renk first in line of potential divestitures – sources
FRANKFURT (Reuters) – Volkswagen is expected to launch shortly the sale of transmissions maker Renk as the German carmaker streamlines operations to free up funds for investment in electric vehicles, people close to the matter said. The world’s largest carmaker last month announced a corporate restructuring. It has 12 brands spanning trucks, buses, motorbikes, cars… Continue reading Volkswagen’s Renk first in line of potential divestitures – sources
Volkswagen to float stake of less than 25% in Traton – source
WOLFSBURG, Germany (Reuters) – Volkswagen will place a stake of less than 25% in truck unit Traton in a listing planned before the end of June, a person familiar with the matter said on Tuesday. FILE PHOTO: Visitors stand at the booth of Volkswagen’s truck unit Traton Group, former Volkswagen Truck & Bus AG, in… Continue reading Volkswagen to float stake of less than 25% in Traton – source
Activist hedge fund CIAM will ‘strongly oppose’ FCA-Renault deal
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo LONDON (Reuters) – Activist hedge fund CIAM has written to the board of French automaker Renault to say it “strongly opposed” a planned $35 billion merger with Fiat Chrysler. Calling… Continue reading Activist hedge fund CIAM will ‘strongly oppose’ FCA-Renault deal
French ride-hailing app Kapten names new CEO as co-founders step down
PARIS (Reuters) – French ride-hailing app Kapten, one of many such firms looking to take on the likes of Uber, named Sebastien Oebel as its new chief executive and added that its co-founders would be stepping down from the company. Yan Hascoet founded Kapten, which was initially known as Chauffeur Prive, back in 2011 along… Continue reading French ride-hailing app Kapten names new CEO as co-founders step down
Nissan would review Renault ties after FCA merger: CEO
PARIS/MILAN (Reuters) – Nissan would carry out a “fundamental review” of its relationship with alliance partner Renault if it accepted a merger proposal from Fiat Chrysler, the Japanese carmaker said on Monday. FILE PHOTO: Nissan President and Chief Executive Officer Hiroto Saikawa attends a news conference at its global headquarters building in Yokohama, Japan, December… Continue reading Nissan would review Renault ties after FCA merger: CEO
Exclusive: FCA discusses improved Renault merger bid to win French backing
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign at its U.S. headquarters in Auburn Hills, Michigan, U.S., May 25, 2018. REUTERS/Rebecca Cook/File Photo PARIS (Reuters) – Fiat Chrysler is discussing a Renault special dividend and stronger job guarantees in a bid to persuade the French government to back its proposed merger between the carmakers, sources… Continue reading Exclusive: FCA discusses improved Renault merger bid to win French backing