Category: Newswire

Audi Hungaria announces HUF 41 bln expansion

German car maker Audi will spend HUF 41 billion to expand its vehicle manufacturing infrastructure, engine development center and electric motor unit in Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday.Audi Hungaria Chairman Achim Heinfling – who departs the local unit in the fall to take over management of Audi AGʼs principal assembly plant in Ingolstadt, Germany – said the investment will be completed by the end of 2020.Audi Hungaria is playing a leading role in the area of electromobility within the Audi group, Heinfling observed.

Daimler reports second-quarter 2019 results

STUTTGART, Germany, July 24, 2019 /PRNewswire/ — Revenue up 5% to €42.7 billion (Q2 2018: €40.8 billion) Group EBIT of minus €1.6 billion (Q2 2018: plus €2.6 billion) Net loss of €1.2 billion (Q2 2018: net profit of €1.8 billion) Portfolio review and efficiency programs intensified Significant improvement of EBIT and free cash flow in… Continue reading Daimler reports second-quarter 2019 results

Ford demonstrates all-electric F-150’s power with video of vehicle towing more than 1M pounds

Ford showed off the upcoming all-electric F-150 by demonstrating the pickup truck’s power with a video of the vehicle towing more than one million pounds.The automaker released the video of the truck Tuesday.The prototype then towed the rail cars but this time 42 2019 F-150s were added, pushing the weight up to more than one million pounds.

Daimler and Bosch obtain approval for world’s first SAE level 4 driverless valet parking

BERLIN, July 23 (Xinhua) — Carmaker Daimler and Germany's largest automotive supplier Bosch have obtained the official approval for an automated valet parking system in the Mercedes-Benz museum parking garage in the city of Stuttgart, the two companies announced on Tuesday.
The project was supervised by experts of the technical inspection association TUEV Rheinland and would be the world's first fully automated driverless parking function according to SAE Level 4 “to be officially approved for everyday use”, Daimler and Bosch stated.
Autonomous driving according to SAE level 4 enables a car to drive without a driver in a geographically defined area such as the parking garage in the pilot project of Bosch and Daimler.
“Driverless driving and parking are important building blocks for tomorrow's mobility,” said Markus Heyn, chief executive officer (CEO) of Bosch.
For the pilot project, Bosch is providing the infrastructure and sensors installed into the parking garage whil..

French group Faurecia holds course in ‘tougher than expected’ auto market

French auto parts maker Faurecia maintained first-half profitability despite a China-led decline in auto production and the loss of seating contracts, the company said on Tuesday.Its positive net cash flow rose 3.9% to 257 million.The company reiterated 2019 guidance including a margin of 7% or more and net cash flow of at least 500 million, assuming a 4% decline in global auto production for the full year.

BAIC acquires stake in Daimler

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.

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.