Uber Middle-East rival Careem in early talks to raise $500m in fresh funding

March 28, 2018 Middle East ride-hailing app Careem is in early talks to raise as much as $500 million in new funds from investors, sources told Reuters. Careem, Uber’s rival in the region, is checking the appetite of potential investors and hopes to secure its targeted $500 million in a new funding series, three sources… Continue reading Uber Middle-East rival Careem in early talks to raise $500m in fresh funding

Nissan to begin Datsun production in Pakistan

Agreement will create more than 1,800 jobs; partner will invest 4.5 billion PKR over 4 years KARACHI, Pakistan (March 28, 2018) – Nissan Motor Co., Ltd. is entering the Pakistan market through a manufacturing and licensing agreement with automotive partner Ghandhara Nissan Ltd. for local production of Datsun models. The agreement also covers distribution, providing… Continue reading Nissan to begin Datsun production in Pakistan

Opel wants to postpone wage increases

The tariff increase won by the trade union IG metal could come later for Opel coworkers: According to a report, the repairing automaker wants to spend the money. Opel factory premises in Rüsselsheim (archive) Wednesday, 28.03.2018 12:17 clock Apparently the automaker wants Opel a pending tariff increase temporarily not pay. Trade unions confirmed a report… Continue reading Opel wants to postpone wage increases

Faurecia signs the biggest contract in its history

In an armchair. Faurecia is “proud” to announce on Wednesday the signing of the largest contract in its history. The PSA-controlled automotive supplier sold six million car seats at once to German BMW. In the coming years, the French group will manufacture, assemble and deliver just-in-time complete seats or seating structures that will integrate into… Continue reading Faurecia signs the biggest contract in its history

Works council threatens strikes

At Opel, there is growing concern that the future parent company could reduce PSA jobs. The works council therefore demands “court-proof” guarantees – and signals how far it would go for it. Transparent in front of the Opel headquarters in Rüsselsheim Monday, 27.03.2017 17:00 o’clock Wolfgang Schäfer-Klug wants security – and as fast as possible.… Continue reading Works council threatens strikes

Franchised dealers see 19% fall in vehicles for servicing

UK franchised dealers saw a significant year-on-year decline in aftersales business in 2017, according to data from electronic vehicle health check provider autoVHC The company, which sampled 500 UK dealers, found that over the 12 month period the average dealer saw 3,320 vehicles presented at its service department, a 19% drop from the 4,080 vehicles… Continue reading Franchised dealers see 19% fall in vehicles for servicing

(2nd LD) Hyundai Motor to streamline governance structure

(ATTN: ADDS details throughout) SEOUL, March 28 (Yonhap) — Hyundai Motor Group, South Korea’s biggest automotive conglomerate, said Wednesday it will streamline its overall governance structure through business spinoffs and mergers between related businesses. The business group said it is planning to spin off the module manufacturing and after-sales parts business of auto parts maker… Continue reading (2nd LD) Hyundai Motor to streamline governance structure

(LEAD) Hyundai Motor to streamline governance structure

(ATTN: ADDS details throughout) SEOUL, March 28 (Yonhap) — Hyundai Motor Group, South Korea’s biggest automotive conglomerate, said Wednesday it will streamline its overall governance structure through business spinoffs and mergers between related businesses. The business group said it is planning to spin off the module manufacturing and after-sales parts business of auto parts maker… Continue reading (LEAD) Hyundai Motor to streamline governance structure

Hyundai Motor to streamline governance structure

SEOUL, March 28 (Yonhap) — Hyundai Motor Group, South Korea’s biggest automotive conglomerate, said Wednesday it will streamline its overall governance structure by spinning off and merging two major affiliates. The auto group plans to spin off auto parts maker Hyundai Mobis Co.’s core module business unit and then merge it with logistics firm Hyundai… Continue reading Hyundai Motor to streamline governance structure