– Technology demonstrates BorgWarner’s extensive systems integration capabilities – Unique, compact system enables hybridization and CO2 reduction – SOP slated for Q3 2023 across multiple platforms AUBURN HILLS, Mich., Oct. 14, 2021 /PRNewswire/ — BorgWarner’s fully integrated P3 hybrid drive module will soon be powering a variety of front-wheel and AWD SUVs for a major… Continue reading BorgWarner Secures Substantial P3 Drive Module Win
Author: Yarhow_Finance Online News
Qualcomm Acquires Veoneer (VNE), Defeats Magna With Higher Bid
Veoneer, Inc. VNE was recently acquired by Qualcomm QCOM for $4.5 billion, as the latter knocked out Magna International MGA with a higher bid. This acquisition puts an end to the bidding war brewing between the chipmaker and the car supplier for control of the Swedish automotive-technology company. Per the deal, Qualcomm partnered with the… Continue reading Qualcomm Acquires Veoneer (VNE), Defeats Magna With Higher Bid
Chinese EV maker Nio says Q3 deliveries totaled 24,439 vehicles, topping its own guidance
Nio Inc. ADRs jumped 3% in premarket trade Friday, after the the China-based electric vehicle maker reported deliveries of 10,628 vehicles in September, up 125.7% from the year-earlier period, and deliveries of 24,439 vehicles in the third quarter. The third-quarter number was ahead of the company’s own guidance from early September of 22,500 to 23,500… Continue reading Chinese EV maker Nio says Q3 deliveries totaled 24,439 vehicles, topping its own guidance
Adient closes previously announced transactions, strategically transforming its business in China
– Company ends Yanfeng Adient Seating Co., Ltd. (YFAS) joint venture with partner Yanfeng Automotive Trim Systems Ltd. (YF) – Adient acquires YFAS’s 50% equity interest in Chongqing Yanfeng Adient Automotive Components Co., Ltd. (CQYFAS) and 100% equity interest in Yanfeng Adient (Langfang) Seating Co., Ltd. (YFASLF) from YFAS – Transactions will enable Adient to… Continue reading Adient closes previously announced transactions, strategically transforming its business in China
Evergrande’s EV unit scraps Shanghai IPO plan while CNOOC, Dongfeng Motor unveil new domestic stock offerings
China Evergrande Group hit another bump on the road to ease its liquidity crisis after abandoning a plan to float its car-making unit at home. At the same time, oil explorer CNOOC Limited and Dongfeng Motor unveiled their new listing aims. The indebted developer’s car-making unit, known as Evergrande New Energy Vehicle Group, will no… Continue reading Evergrande’s EV unit scraps Shanghai IPO plan while CNOOC, Dongfeng Motor unveil new domestic stock offerings
Car parts group Faurecia revises down 2021 targets due to semiconductor shortage
PARIS (Reuters) – French car parts company Faurecia lowered its main 2021 financial targets on Thursday, saying it was adapting them due to the new forecasts for the global automotive market published last week by information provider IHS Markit. Faurecia noted IHS Markit now estimated worldwide car production at 72 million vehicles this year versus… Continue reading Car parts group Faurecia revises down 2021 targets due to semiconductor shortage
Li Auto (LI) Slashes Q3 Delivery Forecast Amid Chip Dearth
Li Auto LI recently trimmed its third-quarter 2021 delivery guidance. The China-based electric vehicle (EV) maker now expects to deliver about 24,500 vehicles in the third quarter, down from the previous outlook of vehicle deliveries between 25,000 to 26,000 units. Backed by China’s food delivery giant Meituan, Li Auto, which debuted on Nasdaq on Jul… Continue reading Li Auto (LI) Slashes Q3 Delivery Forecast Amid Chip Dearth
CATL and BASF have signed a framework agreement to accelerate the achievement of global carbon neutrality goals
The cooperation is focused on cathode active materials and battery recycling The partnership supports both companies’ commitment to global carbon neutrality and CATL’s localization strategy in Europe NINGDE, China, Sept. 16, 2021 /CNW/ — Contemporary Amperex Technology Co., Limited (CATL) and BASF SE (BASF) announced a strategic partnership on battery materials solutions, including cathode active… Continue reading CATL and BASF have signed a framework agreement to accelerate the achievement of global carbon neutrality goals
Advance Auto Parts (AAP), Bridgestone Team Up for DieHard Batteries
Advance Auto Parts AAP recently announced a multi-year agreement with Bridgestone Retail Operations, per which the latter will stock Advance’s DieHard batteries in its more than 2,200 tire and vehicle service centers across the United States. Headquartered in Nashville, TN, Bridgestone Retail Operations is a subsidiary of Bridgestone Americas, Inc, and operates more than 2,200… Continue reading Advance Auto Parts (AAP), Bridgestone Team Up for DieHard Batteries
Veoneer sticks with Magna offer after Qualcomm’s revised bid, shares drop
STOCKHOLM, Sept 14 (Reuters) – Shares in Veoneer Inc edged down on Tuesday after the auto tech firm stuck to its recommendation for Magna International’s bid after receiving an updated, non-binding offer from Qualcomm . The Swedish company has become an attractive takeover target as its expertise in making advanced driver assistance systems fits in… Continue reading Veoneer sticks with Magna offer after Qualcomm’s revised bid, shares drop