Lawrence Stroll has already made a return on his investment in the ailing British sportscar maker. Aston is a lesson in how not to manage an IPO.
Author: World_Newz Mon
Tesla workers reveal 6 surprising things customers should know about their cars
Tesla vehicles have a variety features that may be unfamiliar to customers who are used to driving gas-powered cars.Business Insider asked five current and former Tesla employees what customers should know about their cars that they might not know already.Each is either a current employee or worked for Tesla in 2019.
Nidec bets on e-cars, acquisitions to triple sales
TOKYO (Reuters) — Nidec Corp. plans to more than triple its revenue over the next five years by focusing on electric vehicle powertrains and buying specialists in motor technologies, two people familiar with the matter told Reuters.The world’s leading maker of precision motors which supplies …
Chevy rejecting Ford-sponsored pickup truck emoji is 2020’s first truck battle
The pickup wars are getting emotional.The final, generic design differs quite a bit from Ford’s F-Series-ish proposal, but the company still celebrated the news.Ford’s Director of Product Communications responded that Chevy’s tweet means it can “never” use the truck emoji.
Honda decides to put off restart of Wuhan plants
TOKYO (Jiji Press) — Honda Motor Co. said Thursday that it has decided to keep its automobile plants in Wuhan, China, the epicenter of the outbreak of a new coronavirus, closed until Feb. 13.The Japanese automaker earlier planned to keep the facilities offline through next Sunday in line with th…
Aston Martin’s Electric-Car Plans Fall Victim to Stroll Rescue
Aston Martin Lagonda Global Holdings Plc’s 500-million-pound ($656 million) cash lifeline from Canadian billionaire Lawrence Stroll has a major casualty — the company’s push into electric cars.
BMW delays next generation Mini due to Brexit uncertainty, costs
* BMW extends lifespan of its Mini platform
* Brexit uncertainty hampers ability of BMW to invest in Britain
* Mini is also produced in the Netherlands (Adds detail)
FRANKFURT, Jan 31 (Reuters) – BMW has delayed the development of its next generation Mini as it seeks to cut costs and as uncertainty over Britain's trade relations with the European Union make long-term investment decisions harder.
The German carmaker has developed three generations of the Mini since buying the marque from Rover Group in 1994, keeping each vehicle in the market for about six years.
The current Mini hatch model, which has been on the market since 2014, is built on the company's technological platform called UKL1.
“The lifespan of this platform has been extended,” BMW spokesman Maximilian Schoeberl told Reuters. “For cost reasons and because of Brexit.”
Pressure has risen on carmakers to free up resources so they can shoulder hefty investments to build next generation low emission electric, hybrid..
Aston Martin Shares Leap 25% As Billionaire Stroll Buys Big Stake
Aston Martin shares accelerated ahead Friday after news Canadian billionaire Lawrence Stroll will buy up to 20% in the ailing luxury sports car and SUV maker, according to Reuters.
Mitsubishi Motors posts surprise Q3 operating loss as car sales slide
Mitsubishi Motors Corp on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and South-east Asia, as well as a stronger yen.The carmaker posted an operating loss of 6.6 billion yen (US$60.2 million) for the October-December quarter, missing an average forecast for a profit of 11.6 billion yen.Mitsubishi stuck to an earlier forecast for a 73 per cent drop in full-year operating profit to 30 billion yen in the year to March.
Aston Martin seals £500m rescue deal
Embattled Aston Martin has accepted a lifeline from a foreign investor as the luxury car maker struggles under its rising costs and debt load, sending its shares soaring by a quarter.Mr Stroll will join the board and become executive chairman.Aston Martin will also tap existing shareholders for a further £318m as part of a rights issue.