China’s BAIC Group has acquired a 5 percent stake Mercedes-Benz owner Daimler AG, the State-owned company announced on Tuesday.Daimler also owns 9.55 percent stake in BAIC.In early 2018, Zhejiang Geely Holding Group acquired 9.7 percent of the German carmaker, becoming its largest shareholder in the world.
Category: Newswire
Mazda drives engineering creativity using Siemens’ model-based generative engineering tools
PLANO, Texas, July 23, 2019 /PRNewswire/ — Siemens today announced that Mazda Motor Corporation has adopted the Capital™ electrical design software suite from Mentor, a Siemens business, to help maximize innovation in the design of next-generation automotive electrical systems. Recognized worldwide for its successful launch of innumerable innovative technologies, Mazda uses Capital for model-based generative design for… Continue reading Mazda drives engineering creativity using Siemens’ model-based generative engineering tools
Valmet’s Half Year Financial Review January 1 – June 30, 2019: Orders received increased to EUR 1.1 billion and Comparable EBITA to EUR 69 million
Valmet Oyj’s stock exchange release on July 23, 2019 at 3:00 p.m. EETFigures in brackets, unless otherwise stated, refer to the comparison period, i.e. the same period of the previous year. As of January 1, 2019, Valmet has adopted IFRS 16 without restating the figures for the comparison period.April–June 2019: Orders received amounted to EUR… Continue reading Valmet’s Half Year Financial Review January 1 – June 30, 2019: Orders received increased to EUR 1.1 billion and Comparable EBITA to EUR 69 million
German owners give Slovak subsidiaries more power
Germany is a hatchery of firms that have been forming the Slovak economy for decades.Brose Prievidza, which produces engines and other car parts for the automotive sector, also plans to build a new Slovak R&D centre.The transfer is not just about R&D. The biggest German investment, Volkswagen Slovakia, produces five vehicle brands as the only plant in the group, using a very unique automatised control room.
Volvo Cars Recalls 507,000 Vehicles Due to Faulty Engine Part
Swedish auto-maker Volvo Cars is recalling 507,000 vehicles worldwide because of a faulty engine component that could lead to a fire.
Despite labor tension, Hyundai Motor’s Q2 profit jumps
Amid growing tension between the management and unionized workers, Hyundai Motor said Monday it saw its operating profit rise 30 percent in the second quarter chiefly on the weaker Korean won and sales of new sport utility vehicles.It sold 1.1 million vehicles worldwide, a 7.3 percent decrease from the second quarter in 2018.Despite Hyundai’s earnings recovery, the market is concerned of the growing management-labor tensions over annual wage negotiations which could possibly impact its third-quarter performance.
Financial Report April – June 2019
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Nissan Bets That the Boring Sedan Will Be the Next Big Thing
At a time when younger people drive less and hail more rides, while SUVs reign supreme thanks to low gas prices, Nissan Motor Co. is betting on the humble sedan.
Bentley bullish on long-term prospects in Chinese market
Bentley Motors is confident about its long-term prospects in China despite a flat market in 2019.Entering China in 2002, Bentley is the most popular luxury auto brand in the country.Bentley currently has 37 dealerships in the Chinese mainland, Hong Kong and Macao.
Daimler’s Accidental Expat Manager on the Move Again
What started in 2000 as a three-year plan to gain some international experience has resulted in a 17-year career as an expat manager for Daimler stalwart Jörg D. Schmidt.Those possibilities have taken Schmidt from Egypt to Singapore, South Africa, Russia, and Hungary.The market itself is more developed in Australia, built on the back of 27 years of uninterrupted economic growth, albeit there are signs it may now be slowing down.