Category: Official Press Release

Magna Announces Fourth Quarter 2021 Results and Outlook

Fourth Quarter 2021 Highlights Sales of $9.1 billion decreased 14%, compared to a 17% decrease in global light vehicle production Diluted earnings per share and Adjusted diluted earnings per share of $1.54 and $1.30, respectively, compared to $2.45 and $2.83 last year Returned $378 million to shareholders through share repurchases and dividends Raised quarterly cash… Continue reading Magna Announces Fourth Quarter 2021 Results and Outlook

@BMW: Ad-hoc: BMW AG acquires majority stake in BMW Brilliance Automotive Ltd. leading to full consolidation effective 11 February 2022001746

Munich. Bayerische Motoren Werke Aktiengesellschaft (BMW AG) acquires a majority stake in its Chinese joint venture BMW Brilliance Automotive Ltd. (BBA). BBA has today received the relevant business licence from the Chinese authorities, effective 11 February 2022. BMW AG thus indirectly holds 75% of the shares in BBA, while the Chinese partner Brilliance China Automotive… Continue reading @BMW: Ad-hoc: BMW AG acquires majority stake in BMW Brilliance Automotive Ltd. leading to full consolidation effective 11 February 2022001746

@BMW: BMW Group strengthens partnership in China: Extension of Joint Venture Contract until 2040 enters into force001745

Munich. The BMW Group underlines its long-term commitment in China: as of 11 February 2022, the extension of the joint venture contract for the BMW Brilliance Automotive Ltd. (BBA) joint venture until 2040 takes effect. The agreement on the contract extension was signed by the two joint venture partners back in October 2018, on BBA’s 15th… Continue reading @BMW: BMW Group strengthens partnership in China: Extension of Joint Venture Contract until 2040 enters into force001745

@Daimler: Mercedes-Benz Group AG posts strong preliminary financial results for the year 2021

Stuttgart, Germany – Mercedes-Benz Group AG achieved strong financial results in the year 2021 based on preliminary unaudited figures. The Mercedes-Benz Cars & Vans segment has exceeded the guidance range of 10 to 12% and now expects an adjusted Return on Sales of 12.7% in the full year. Despite the ongoing semiconductor shortages, the fourth… Continue reading @Daimler: Mercedes-Benz Group AG posts strong preliminary financial results for the year 2021

LG NOVA Program Announces “First 50” Startups Advancing to Next Phase of Incubation Program

February 11, 2022 LG NOVA Program Announces “First 50” Startups Advancing to Next Phase of Incubation Program Open share list Share this content. Entrepreneurs in Connected Health, Energizing Mobility, Smart Lifestyle, Metaverseand Innovation for Impact Sectors Bring Futuristic Concepts to Mainstream in 2022 SANTA CLARA, Calif., Feb. 10, 2022 — LG Electronics’ North American Innovation Center,… Continue reading LG NOVA Program Announces “First 50” Startups Advancing to Next Phase of Incubation Program

RENAULT GROUP: Renault Group, Valeo and Valeo Siemens eAutomotive join forces to develop and manufacture a new-generation automotive electric motor in France

PRESS RELEASE Renault Group, Valeo and Valeo Siemens eAutomotive join forces to develop and manufacturea new-generation automotive electric motor in France Paris, February 10, 2022 – Renault Group, Valeo and Valeo Siemens eAutomotive announce that they have signed a memorandum of understanding to form a strategic partnership for the design, co-development and manufacture in France… Continue reading RENAULT GROUP: Renault Group, Valeo and Valeo Siemens eAutomotive join forces to develop and manufacture a new-generation automotive electric motor in France

World NM: Automotive industry sounds alarm over expansion of e-charging stations001723

Germany has fallen far behind its targets for expanding e-car infrastructure and will likely miss its 2030 e-mobility target. Germany, France and the Netherlands together account for 70% of the charging stations, even though the three countries have only a third of the EU’s population. Instead of 60 kilometres, the VDA calls for charging stations… Continue reading World NM: Automotive industry sounds alarm over expansion of e-charging stations001723

@Renault: RENAULT GROUP: Renault Group, Valeo and Valeo Siemens eAutomotive join forces to develop and manufacture a new-generation automotive electric motor in France000358

PRESS RELEASE Renault Group, Valeo and Valeo Siemens eAutomotive join forces to develop and manufacturea new-generation automotive electric motor in France Paris, February 10, 2022 – Renault Group, Valeo and Valeo Siemens eAutomotive announce that they have signed a memorandum of understanding to form a strategic partnership for the design, co-development and manufacture in France… Continue reading @Renault: RENAULT GROUP: Renault Group, Valeo and Valeo Siemens eAutomotive join forces to develop and manufacture a new-generation automotive electric motor in France000358