Harald Kruger, CEO and Chairman of the Board of Management of BMW AG and Dieter Zetsche, CEO of Daimler AG, shake hands at a news conference to present plans for combining the companies’ car-sharing businesses, in Berlin, Germany, February 22, 2019. REUTERS/Axel Schmidt BERLIN (Reuters) – German carmakers Daimler and BMW unveiled a joint ride-hailing,… Continue reading UPDATE 1-Daimler, BMW to invest 1 bln euros in venture to rival Uber
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UPDATE 2-Ford investigating possible problems with fuel economy, emissions tests
DETROIT (Reuters) – Ford Motor Co said on Thursday it had hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data given to regulators or consumers. The logo of Ford is seen during the 88th International Motor Show… Continue reading UPDATE 2-Ford investigating possible problems with fuel economy, emissions tests
Ford investigating possible problems with fuel economy, emissions tests
DETROIT, Feb 21 (Reuters) – Ford Motor Co said on Thursday it had hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data given to regulators or consumers. The investigation and concerns with Ford’s testing processes do not… Continue reading Ford investigating possible problems with fuel economy, emissions tests
UPDATE 1-Brazil’s Sao Paulo state to seek buyer for Ford plant slated for closure
(Adds quotes, background) SAO PAULO, Feb 21 (Reuters) – The governor of Brazil’s Sao Paulo state said on Thursday he would help Ford Motor Co find a buyer for its oldest plant in the country, which is slated to be closed this year as part of the automaker’s global reorganization. Ford said this week that… Continue reading UPDATE 1-Brazil’s Sao Paulo state to seek buyer for Ford plant slated for closure
Renault’s outlook cut to ‘negative’ by rating agency Standard & Poor’s
FILE PHOTO – The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near Strasbourg, France, January 10, 2019. REUTERS/Vincent Kessler/File Photo PARIS (Reuters) – Credit rating agency Standard & Poor’s cut its outlook on carmaker Renault to “negative” from “stable”, citing broader challenges within the automotive sector… Continue reading Renault’s outlook cut to ‘negative’ by rating agency Standard & Poor’s
Volvo Cars raises $215 million in bond issue months after failed IPO
FILE PHOTO: A Volvo S60 is displayed during the inauguration of Volvo Cars first U.S. production plant in Ridgeville, South Carolina, U.S., June 20, 2018. REUTERS/Randall Hill/File Photo STOCKHOLM (Reuters) – Sweden’s Volvo Cars has raised some 2 billion Swedish crowns ($215 million) in a bond issue just five months after the Chinese-owned carmaker terminated… Continue reading Volvo Cars raises $215 million in bond issue months after failed IPO
UPDATE 3-Garmin shares surge 15 pct as new direction fuels strong forecast
(Reuters) – Garmin Ltd on Wednesday forecast full-year revenue and profit above expectations along with strong fourth-quarter results, sending its shares up 15 percent to their highest in more than a decade. A Garmin GPS watch is shown on a display at a store in Encinitas, California, U.S., October 30, 2017. REUTERS/Mike Blake The company bounced… Continue reading UPDATE 3-Garmin shares surge 15 pct as new direction fuels strong forecast
Daimler risks fine as German prosecutors launch new probe
BERLIN (Reuters) – German prosecutors have launched a probe into Daimler for allegedly failing to prevent diesel emissions cheating, possibly resulting in a fine for the carmaker, as its legal woes mount up over the affair. The Daimler is seen during a press conference on the second press day of the Paris auto show, in… Continue reading Daimler risks fine as German prosecutors launch new probe
Tesla’s top lawyer leaves two months into the job
FILE PHOTO: A driver recharges the battery of his Tesla car at a Tesla Super Charging station in a petrol station on the highway in Sailly-Flibeaucourt, France, January 12, 2019. REUTERS/Pascal Rossignol/File Photo (Reuters) – Tesla Inc said on Wednesday its general counsel Dane Butswinkas is leaving the electric carmaker just two months after it… Continue reading Tesla’s top lawyer leaves two months into the job
UPDATE 1-Ghosn’s new lawyer, ‘the Razor’, takes aim at Nissan and prosecutors
TOKYO (Reuters) – Carlos Ghosn’s new lawyer took aim at Nissan, prosecutors and courts on Wednesday, dismissing the charges against the ousted chairman as an internal company matter and saying Japan was out of step with international norms by keeping his client in jail. FILE PHOTO: Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance,… Continue reading UPDATE 1-Ghosn’s new lawyer, ‘the Razor’, takes aim at Nissan and prosecutors