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There’s No Accounting for Tesla Bondholders’ Tolerance

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GKN and Dana agree auto-engineering merger for $6.1bn

UK engineering giant GKN has agreed to merge part of its business with US company Dana, as it seeks to fend off a takeover bid from Melrose Industries. The merger will combine GKN’s Driveline division with US auto-engineer Dana in a deal worth $6.1bn (£4.4bn). It comes as Melrose has a £7.4bn offer on the… Continue reading GKN and Dana agree auto-engineering merger for $6.1bn

Waymo’s self-driving trucks to haul cargo for Google in Atlanta

March 9 (Reuters) – Waymo, the autonomous vehicle arm of Alphabet Inc, said on Friday it would launch a self-driving trucks pilot in Atlanta to carry cargo for Google’s data centers. The announcement comes two days after rival Uber Technologies said its self-driving trucks will haul cargo on Arizona highways. Waymo had been road testing… Continue reading Waymo’s self-driving trucks to haul cargo for Google in Atlanta

Volkswagen’s head of electric mobility says China will drive autonomy roll-out

What’s the biggest motivating factor behind automakers embracing autonomous vehicles and self-driving? You might think ‘safety’ or maybe even consumer demand, but in truth the biggest driver might be China and its incentivization programs for automakers. Much like China’s rules for qualifying for subsidies and restrictions on selling vehicles in market have led to automakers… Continue reading Volkswagen’s head of electric mobility says China will drive autonomy roll-out

McLaren BP23 ‘Hyper-GT’ will be the fastest McLaren ever produced

Alongside the Senna GTR, McLaren used the Geneva Motor Show to reveal that the forthcoming three-seat ‘Hyper-GT’ will be the fastest car the brand has ever produced. It’s said to be capable of exceeding 243mph, which is faster than the once record-breaking McLaren F1 of the nineties. We are yet to see the new model,… Continue reading McLaren BP23 ‘Hyper-GT’ will be the fastest McLaren ever produced

Britain’s GKN signs deal with Dana over auto tie-up

(Reuters) – Britain’s GKN (GKN.L) said it had agreed to merge its automotive business with Dana Incorporated (DAN.N) to create Dana Plc, adding the deal provided “significantly greater value” for its shareholders than Melrose Plc’s (MRON.L) 7 billion pound ($9.68 billion) hostile bid. The proposed deal gives GKN Driveline a total enterprise value of $6.1… Continue reading Britain’s GKN signs deal with Dana over auto tie-up

BRIEF-Dana To Combine With GKN’s Driveline Division

March 9 (Reuters) – Dana Inc: * DANA ANNOUNCES AGREEMENT TO COMBINE WITH GKN’S DRIVELINE DIVISION * DEAL INCLUDES ‍133 MILLION NEW DANA PLC SHARES ISSUED TO GKN SHAREHOLDERS, VALUED AT ABOUT $3.5 BILLION * ‍DEAL INCLUDES ASSUMPTION OF ABOUT $1.0 BILLION OF NET PENSION LIABILITIES, AND 133 MILLION NEW DANA PLC​ SHARES * TOTAL… Continue reading BRIEF-Dana To Combine With GKN’s Driveline Division

Hyundai asks for union’s cooperation in cutting worker benefits

SEOUL, March 9 (Yonhap) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, recently asked for the cooperation of its union to accept a cut in benefits as part of a broader move to ride out the unfriendly business environment, the company said Friday. In a letter sent to the union last Friday, the… Continue reading Hyundai asks for union’s cooperation in cutting worker benefits

Hyundai recalls Sonatas; air bags may not inflate in crash

2011 Hyundai Sonata (Photo: Hyundai) DETROIT — Hyundai is recalling nearly 155,000 Sonata midsize cars in the U.S. because the air bags may not inflate in a crash. The recall covers cars from the 2011 model year. Hyundai says a short circuit in the air bag control computer can stop the seat belts from tightening before… Continue reading Hyundai recalls Sonatas; air bags may not inflate in crash