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Category: Automotive
GM shuts down Mexico pickup plant due to UAW strike
General Motors has halted production of its important 2020 pickups built in Mexico due to the UAW strike in the United States. The automaker Tuesday said it idled a plant in Mexico due to a shortage of parts normally made by striking U.S. workers. The plant, GM’s Silao Assembly, builds GM’s highly profitable Chevrolet Silverado and GMC… Continue reading GM shuts down Mexico pickup plant due to UAW strike
Ford patents convertible pickup roof
The automaker recently filed a patent for a removable roof designed to work with pickups, Ford Authority reported.The patent depicts an easily installable structure with self-articulating brackets and two clamps that secure it to the windshield header.As with many patents, however, Ford’s removable pickup roof may just be a pie in the sky idea as there is no confirmation that it plans to put it into production.
Mercedes-Benz Reports September Sales of 27,433 Vehicles, Up 4.8%
ATLANTA–(BUSINESS WIRE)–Mercedes-Benz USA (MBUSA) today reported September sales of 27,433 Mercedes-Benz models, a 4.8% increase over September 2018. Additionally, Mercedes-Benz Vans recorded September sales of 4,569, bringing MBUSA to a grand total of 32,002 vehicles for the month, an increase of 4.5%. On a year-to-date basis, MBUSA recorded sales of 224,212 Mercedes-Benz passenger vehicles and… Continue reading Mercedes-Benz Reports September Sales of 27,433 Vehicles, Up 4.8%
Auto workers’ strike pushes GM losses past $1 billion
The workers strike against General Motors — now in its third week — has cost the automaker more than $1 billion during the third quarter, according to a research note from J.P. Morgan analyst Ryan Brickman. And those losses are accelerating with each passing week. GM lost about $480 million during the first week of… Continue reading Auto workers’ strike pushes GM losses past $1 billion
Communauto accelerates its growth thanks to the participation of Investissement Québec
Montreal, September 23, 2019 – Communauto is pleased to announce today that Investissement Québec is joining its share capital to grow the Québec business and accelerate its growth, both in Québec and abroad. Under this transaction, Investissement Québec will hold 24% of the shares of the company.
Mr. André St-Pierre, Vice-president, Major Accounts, Investment and Financing at Investissement Québec, Mrs Marie-Eve Proulx, Minister for Regional Economic Development, M. Benoit Robert, President and Founder of Communauto et Mr. Éric Alan Caldwell, Responsible for Urban Planning, Transit and Montreal’s Office of Pubic Transportation.
MacKinnon, Bennett & Co. (MKB), which has been a shareholder of Communauto since 2016, also participated in this new round of financing.
Communauto, which is celebrating its 25th anniversary, remains the largest carsharing organization in Canada. It is a leader in North America for its economic and environmental sustainability as well as for its innovation in the field of integrated mobility and transportation electrification. The support of Investissement Québec and MKB will allow the company to continue its development in Québec and its expansion in Canada, especially in the Toronto area, and internationally. In addition to its mobility service offering, the company plans to add the commercialization of its technology solutions in the field of sharing and fleet management.
Investing in the future of sustainable mobility
Benoît Robert, founding president of Communauto, said: “Communauto today is taking an important step in its development plan. The recognition and support of Investissement Québec, as well as the renewed confidence of MKB, reinforce the sustainability of Communauto’s social, environmental and urban mission, and demonstrate once again that it is possible to reconcile environmental objectives and economic development.”
“Twenty-five years ago, the concept of carsharing was revolutionary; today it is spread throughout the world’s major cities. The emerging trend in many countries is to develop a green economy anchored in a better use of resources. I am proud that Québec is part of this global movement through innovative companies like Communauto. I welcome the announcement of a promising partnership between this Québec flagship and Investissement Québec, which will make possible the realization of important projects for the development of carsharing in Québec,” said the Minister Responsible for Regional Economic Development and Minister Responsible for the regions of Chaudière-Appalaches, Bas-Saint-Laurent and Gaspésie-Îles-de-la-Madeleine, Marie-Eve Proulx.
“Communauto is a visionary Québec company, and a forerunner of the now-popular carsharing mode of transportation. By becoming a partner of the company, Investissement Québec gives it the means to continue its momentum and to reach a crucial stage in its growth process. In doing so, IQ also helps preserve the company’s headquarters and decision-making centre in Québec, while maintaining nearly a hundred well-paying jobs that contribute to our collective well-being,” said Guy LeBlanc, President and CEO of Investissement Québec.
About Communauto
Founded in Québec City in 1994, Communauto is the oldest carsharing service in North America and the one serving the largest number of communities in Canada. It is also the first company in Canada to offer its customers a large fleet of 100% electric cars and to create offers combined with public transportation services. Present on two continents in 14 cities (Edmonton, Toronto, Kitchener / Waterloo, Hamilton, Guelph, London, Kingston, Ottawa, Gatineau, the regions of Montreal and Québec, Sherbrooke, Halifax and Paris in France) with a fleet of 3000 vehicles, it is one of the few operators in the world able to offer its customers access to vehicles available with or without reservation. Studies conducted in recent years show that each carsharing car replaces, on average, ten private vehicles in Québec.
About Investissement Québec
Investissement Québec’s mission is to promote the growth of investment in Québec, thereby contributing to economic development and job creation in all regions. The Company provides businesses with a full range of financial solutions including loans, loan guarantees and equity investments to support them at all stages of their development. In addition, she is responsible for administering tax measures and prospecting overseas investments.
About MacKinnon Bennett & Co. (MKB)
MacKinnon, Bennett & Co. is a Montreal-based private equity firm active in clean energy, transportation and smart cities. By partnering with entrepreneurs, MKB strengthens networks of like-minded innovators for sustainable development. MKB manages private investments on its own behalf, as well as on behalf of family wealth managers, high net worth individuals, institutional investors and other companies
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Information:
Marco Viviani
Vice President, Strategic Development
Communauto
T 514-499-2804
Isabelle Fontaine
Senior Director of Public and Government Affairs
Investissement Québec
T 514-876-9359
Audi e-tron gets turned into electric emergency vehicle
Unsurprisingly, Norway is turning out to be a great market for the Audi e-tron, and now they are even finding new ways to use the electric SUV: as an emergency vehicle for an ambulance service. After launching the e-tron electric SUV last year, Audi had some difficulties bringing the car to production. They had some software… Continue reading Audi e-tron gets turned into electric emergency vehicle
Ford transfers India operations to new joint venture with Mahindra
Ford Motor Co. is transferring its operations in India to a new joint venture with Mahindra Group and partnering on several vehicles with the Indian automaker, marking yet another partnership as global automakers seek scale to contain rising costs. The move would keep Ford involved in India, on pace to become one of the world’s largest automotive markets. Ford’s vehicles… Continue reading Ford transfers India operations to new joint venture with Mahindra
Nissan considers moving U.K. SUV production overseas on Brexit
Siddharth Philip and Kae Inoue, Bloomberg Published 12:28 p.m. ET Oct. 1, 2019 | Updated 12:31 p.m. ET Oct. 1, 2019 Nissan Motor Co. will consider moving production of its SUVs outside the U.K. if the country leaves the European Union without a deal, people familiar with the matter said. Manufacturing of the Qashqai SUV… Continue reading Nissan considers moving U.K. SUV production overseas on Brexit
Press: ZF Issues Bonded Loans of EUR 2.1 Billion
Current issuing replaces a part of the bridge financing for the WABCO acquisition Issuance with high demand among German financial institutions and major international banks Second-largest bond-loan issuing in the history of ZF Friedrichshafen. ZF Friedrichshafen AG (ZF) has issued a bonded loan of EUR 2.1 billion. With the funds, ZF replaces a part of… Continue reading Press: ZF Issues Bonded Loans of EUR 2.1 Billion