By Nadine Schimroszik BERLIN, – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial infusion from Japan’s Softbank meant it was under no pressure to launch an initial public offering to fund its pan-European growth plans. Softbank, through its Vision Fund, will make around half of its investment via new shares,… Continue reading Auto1 says no need for IPO after Softbank invests
Author: Economic Times of India Online News
Alabama incentives for Toyota-Mazda factory top $700 million
The new plant in Huntsville – already a hub for the region’s budding aerospace industry – will produce 300,000 vehicles per year, a combination of the Toyota Corolla compact car and a new small crossover SUV from Mazda. Production is targeted to begin by 2021. MONTGOMERY: Alabama’s total incentive package to Toyota and Mazda will… Continue reading Alabama incentives for Toyota-Mazda factory top $700 million
Brexit ‘could cost 14,000 jobs’ at German car suppliers
The UK is the largest export market for German car suppliers in Europe, with 18 percent of auto parts used in British factories coming from Germany — the home of industry giants Bosch, Continental and ZF Friedrichshafen.Frankfurt am Main: A worst-case Brexit scenario could put thousands of jobs at risk at German car parts suppliers,… Continue reading Brexit ‘could cost 14,000 jobs’ at German car suppliers
Ford to put auto emergency brakes on two 2019 models
The brakes are part of a suite of standard safety features on the new Edge, Ford said, including technology that detects objects and pedestrians and can prevent collisions by automatically braking and steering for the driver. Ford Motor Co said on Thursday it will make automatic emergency brakes standard on two key 2019 models, an… Continue reading Ford to put auto emergency brakes on two 2019 models
German would-be coalition partners eye diesel engine refits – document
A big challenge in talks between Chancellor Angela Merkel’s conservatives and the centre-left Social Democrats is to find a way to mend the battered reputation of Germany’s mighty car industry after a diesel scandal and meet climate targets.REUTERS | January 11, 2018, 08:37 IST
German union IG Metall to step up strike action ahead of wage talks
By Maria Sheahan FRANKFURT, – Powerful German union IG Metall said it would step up industrial action ahead of a round of negotiations with employers as it pushes for higher wages and the right to shorter hours for 3.9 million German workers. “We have started with warning strikes and will widen them in the coming… Continue reading German union IG Metall to step up strike action ahead of wage talks
LeEco repays part of China Merchant Bank debt
LeEco has repaid part of this debt after selling shares in its smartphone affiliate Coolpad Group SHANGHAI: LeEco has repaid HK$807 million ($103.20 million) of a debt owed to China Merchants Bank and will seek to negotiate with the creditor to secure the release of some of its frozen assets, the wife of the embattled… Continue reading LeEco repays part of China Merchant Bank debt