Fiat Chrysler Automobiles NV’s plan to merge with Renault SA drew criticism from the French carmaker left on its own, Groupe PSA, that contrasts with backing for the deal from investors and governments.
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Volvo Cars Invests in VR Startup to Help Dodge Virtual Moose
Volvo Cars has made a multi-million euro investment in Varjo Technologies Oy, whose headset with screens and cameras can be used to allow engineers to test-drive cars to dodge hazards such as virtual moose.
Global Automakers Accuse Russian Courts of Graft
Major automakers are accusing courts in southern Russia of using consumer protection claims to scam them out of 200 million rubles ($3 million) in 2016-2018, the RBC news website reported Tuesday.The automakers allege that a handful of Krasnodar courts order compensations averaging three times the vehicles’ original price.The automakers sent the complaint to President Vladimir Putin’s anti-corruption council, the Federal Security Service (FSB), the General Prosecutor’s Office and a panel of Russian judges, RBC reported.
BMW Korea teases all-new BMW 1 Series
BMW Korea revealed Tuesday the return of BMW 1-Series that it said will provide customers a smooth ride with ultimate efficiency.It has 33 millimeters more knee room and 19 millimeters more head space if drivers opt for the panoramic sunroof.The new model will have four options — Advantage, Luxury Line, Sport Line and M Sport — with a global release slated for September.
Elkann enlists Renault to drive Fiat family fortunes
When John Elkann lost his ally last year with the sudden death of Sergio Marchionne, some questioned whether the softly-spoken scion of the Agnelli clan would be able to emerge from his shadow to ensure Fiat Chrysler’s future.This involved a “very long night … and many grappas” but proved to be a turning point in the fortunes of the Italian company founded by Elkann’s great-great-grandfather Giovanni Agnelli.Marchionne then used GM’s money to fund a turnaround at Fiat.
Elkann takes dealmaking mantle in FCA bid for Renault
…the situation in the past two weeks shifted quickly. By Monday FCA unveiled a proposed €32.6bn all-share merger in a deal that would reshape the global automotive industry. Talk about 0 to 60 in three…
Automobile Dacia posts all-time high profit in 2018
Romanian carmaker Automobile Dacia, a subsidiary of France’s Renault group, has registers a all-time high profit last year of EUR 162 million, up 40 percent compared to 2017.The group posted a total turnover of EUR 5.3 billion in 2018, an increase by 5 percent compared to the previous year.The results include only the Romanian businesses, excluding the Morocco factory that produces cars under Dacia brand.
VW to Reshuffle $56 Billion Battery Push as Samsung Deal at Risk
Volkswagen AG is reworking its battery-purchasing plan worth about 50 billion euros ($56 billion) over concerns a supply deal with Samsung SDI Co. Ltd. might unravel, according to people familiar with the matter.
Opel to start production of new petrol engine in Hungary
Zoltán Kaszás acknowledged a drop in production and a decline in revenue at the plant in recent years.It employs about 1,000 people.
Mitsubishi Secretly Working On New Lancer Evolution-Style SUV With Nissan’s Help
What this Mitsubishi-Nissan collaboration means is that the alliance will create a highly competitive parts bin out of which they will build their respective next-generation EVs.