Category: Automotive

Volkswagen joins Automotive Grade Linux and the Linux Foundation

Automotive Grade Linux, a collaborative cross-industry effort developing an open source platform for connected car technologies, has announced that Volkswagen has joined Automotive Grade Linux (AGL) and the Linux Foundation, the non-profit organization enabling mass innovation through open source. AGL is an open source project at the Linux Foundation that is changing the way automotive manufacturers build software.… Continue reading Volkswagen joins Automotive Grade Linux and the Linux Foundation

Hyundai Motor launches CRADLE Berlin, European Innovation Hub to lead future technology advancements

Hyundai Motor Company has officially opened its Hyundai CRADLE Berlin office in Germany establishing its third CRADLE office worldwide, with additional bases in Silicon Valley (USA) and Tel Aviv (Israel). Hyundai CRADLE is Hyundai Motor Group’s corporate venturing and open innovation business, which partners and invests extensively in promising global startups to accelerate the development… Continue reading Hyundai Motor launches CRADLE Berlin, European Innovation Hub to lead future technology advancements

Jaguar Land Rover begins Brexit shutdown as sales fall

Jaguar Land Rover UK’s main manufacturing sites, employing 18,500 people, closed from Monday to Friday Jaguar Land Rover sold 578,915 vehicles globally in the year to March, down 5.8%, and the carmaker blames weaker demand in China. Photograph: Leon Neal/Getty Images Jaguar Land Rover has begun its week-long factory shutdown as part of its plans… Continue reading Jaguar Land Rover begins Brexit shutdown as sales fall

Chapelhouse acquires three dealerships from Bolton Car Company

Chapelhouse Motor Group has completed the acquisition of three motor retail sites from Bolton Car Company for an undisclosed sum. Taking its number of sites to nine, £58.7 million (2018) turnover Chapelhouse has taken on BCC’s Suzuki franchises in Bolton and Blackburn and its Citroen franchise in Wigan. Chapelhouse Group operations director, Chris Layton, said:… Continue reading Chapelhouse acquires three dealerships from Bolton Car Company

Notice Regarding the Status of Own Share Repurchase

FOR IMMEDIATE RELEASE

Nidec Corporation

Tokyo Stock Exchange code: 6594

Contact:

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Released on April 1, 2019, in Kyoto, Japan

Notice Regarding the Status of Own Share Repurchase

(Repurchase of own shares, pursuant to the Company's Articles of Incorporation based on the provisions of Article 459-1-1 of the Company Law of Japan)
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) today announced the status of the Company’s own share repurchase under its ongoing repurchase plan resolved at a meeting of the Board of Directors held on January 23, 2019, pursuant to Article 459, Paragraph 1, Item 1 of theCompany Law of Japan.
Details are as follows:
Details of Share Repurchase
1. Period of own share repurchase: From March 1, 2019 through March 31, 2019
2. Class of shares: Common stock
3. Number of own shares repurchased: 0
4. Total repurchase amount: 0 yen
Note: The above repurcha..

Notice on Dismissal of Lawsuit Against Nidec

FOR IMMEDIATE RELEASE

Nidec Corporation

Tokyo Stock Exchange code: 6594

Contact:

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Released on April 1, 2019, in Kyoto, Japan

Notice on Dismissal of Lawsuit Against Nidec

As announced on March 12, 2019 in the “Notice on Lawsuit Filed Against Nidec”, Whirlpool Corporation (“Whirlpool”) commenced a lawsuit in the United States District Court for the Southern District of New York (the “Court”) against Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec”), alleging that Nidec is in breach of its obligations contemplated by the Share Purchase Agreement (the ”SPA”) whereby Nidec agreed to acquire their compressor business from Whirlpool.

We would like to inform that the Court spontaneously dismissed the litigation without prejudice on March 27, 2019. Nidec remains focused on obtaining the approval of relevant antitrust authorities and to complete the transaction with Whirlpool as per the SPA.