Category: News Type

Fiat Chrysler recalling 51K Jeep Cherokees because of fire risk

Fiat Chrysler Automobiles is recalling certain 2018 Jeep Cherokee SUVs because of a fire risk. (Photo: FCA US LLC) Fiat Chrysler Automobiles is recalling more than 51,000 of its 2018 Jeep Cherokees because of a fire risk. The company said it is unaware of any accidents or injuries related to the defect, involving fuel-supply tubes that… Continue reading Fiat Chrysler recalling 51K Jeep Cherokees because of fire risk

Canadian entrepreneur buys 10% of McLaren Group for almost £204m

Michael Latifi, a Canadian businessman, has become McLaren Group’s third-largest shareholder, investing almost £204 million in return for a 10% stake.  Latifi’s company Nidala Limited now owns one tenth of McLaren Automotive, McLaren Racing and McLaren Applied Technologies, with the only larger shareholders being the Bahrain Mumtalakat Holding Company and Mansour Ojjeh’s TAG Group.  McLaren… Continue reading Canadian entrepreneur buys 10% of McLaren Group for almost £204m

Aston Martin growth spurt continues with £43m profit in Q1

Aston Martin has announced pre-tax profits of £43.7 million in the first quarter of 2018, leading to the British marque being named “the world’s fastest growing auto brand” by consultancy firm, Brand Finance. The profit rise has been largely credited to the recently launched DB11 V8 Coupe and Volante models along with early interest in… Continue reading Aston Martin growth spurt continues with £43m profit in Q1

Aston Martin gears up for more growth ahead of possible flotation

LONDON (Reuters) – Luxury British carmaker Aston Martin remained in the black in the first quarter of 2018, although pretax profit fell due to a weaker dollar and investment on a series of model launches. FILE PHOTO: The Aston Martin Lagonda Vision Concept car is pictured during the 88th Geneva International Motor Show in Geneva,… Continue reading Aston Martin gears up for more growth ahead of possible flotation

Germany’s ADAC Creates Lease Deal For BMW i3

1 M BY MARK KANE ADAC, the 100+ years old General German Automobile Club with more than 20 million members, is going to promote electrification by securing special deals from automakers. The first attractive lease deal in Germany apparently was hammered with BMW so ADAC’s members can now get the i3 from €383.14 ($457) a… Continue reading Germany’s ADAC Creates Lease Deal For BMW i3

Volkswagen selects Cubic Telecom as the technology enabler on the Touareg model

Cubic Telecom announced that Volkswagen AG selected Cubic as the technology enabler on the Touareg model for its connected car experience. Touted as the most connected Volkswagen model ever, Cubic Telecom’s embedded technology manages data delivery throughout Europe to enable Car-Net® online services which are integrated with the Touareg’s new infotainment system “Innovision Cockpit”. Services… Continue reading Volkswagen selects Cubic Telecom as the technology enabler on the Touareg model

Laird launches fully integrated connected car platform

Laird announced that it is launching a fully integrated and scalable module for secure mobile connectivity and automotive ethernet for reliable internet use inside and outside the vehicle. Laird MAX (Modular Automotive Connectivity Solution), brings together communications technologies, characterized by flexibility, scalability, an open software concept, a Linux-based security module, and Laird’s integrated antenna system. MAX… Continue reading Laird launches fully integrated connected car platform

(2nd LD) Hyundai withdraws overhaul plan on opposition

(ATTN: CHANGES headline and lead; ADDS details throughout) SEOUL, May 21 (Yonhap) — Hyundai Motor Group on Monday withdrew a key spinoff merger plan in a setback to its corporate restructuring amid stepped-up opposition campaigns by some investors. The decision comes as global hedge fund Elliott and proxy advisers such as Institutional Shareholder Services (ISS)… Continue reading (2nd LD) Hyundai withdraws overhaul plan on opposition

Autoliv provides update on planned Veoneer spin-off

Mon, May 21, 2018 14:20 CET (Stockholm, Sweden, May 21, 2018) – Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems announces that Veoneer, its electronics segment, has filed an amendment to its Registration Statement on Form 10 in connection with its planned spin-off from Autoliv. Veoneer, Inc. has filed… Continue reading Autoliv provides update on planned Veoneer spin-off