German technology major Bosch has acquired a minority stake of 26 percent in Autozilla Solutions to participate in a digital B2B-marketplace for the independent aftermarket (IAM) in India. This transaction will strengthen Bosch’s market pull through its Bosch Car Service outlets and through the independent garages that are enrolled under the ‘Extra’ Loyalty Program. This… Continue reading Bosch acquires stake in Indian digital marketplace Autozilla
Category: US Motoring Press
Volkswagen Is Considering a Plan to Spin Off Porsche in an I.P.O.
Volkswagen said it was considering hiving off its profitable Porsche division into a separate company with its own stock listing. The transaction would help the automaker raise money to invest in electric vehicles while also potentially returning more control of the high-performance carmaker to descendants of its founder. Volkswagen preferred shares, the most widely traded,… Continue reading Volkswagen Is Considering a Plan to Spin Off Porsche in an I.P.O.
Cummins buys Troy-based truck parts supplier Meritor for EV components
Cummins Inc. on Tuesday said it intends to acquire a Troy-based truck parts supplier to add axles and brakes for hybrid and electric powertrains to its portfolio in a $3.7 billion deal. Meritor Inc. shares surged more than 43% Tuesday, closing at $35.47 per share, while Cummins’ fell nearly 2% to $214.09. Go to Source
Motherson, Valeo to partner interior lighting solutions
Samvardhana Motherson Automotive Systems Group BV, a Motherson Group company and Valeo have signed a Memorandum of Understanding for integration of Valeo’s innovative lighting systems with Motherson’s new cabin interior modules and surfaces. This MoU sets the framework for this collaborative effort between Motherson and Valeo to create new solutions for interior lighting. By combining… Continue reading Motherson, Valeo to partner interior lighting solutions
GM halts in-vehicle shopping app, looks to possibly bring better service
General Motors is phasing out its Marketplace app on millions of vehicles as it studies a better in-vehicle-purchase software replacement. The move is part of GM’s quest, which it outlined last October during its Investor Day, to reach $20 billion to $25 billion in revenue from its various subscription services by the end of the decade. “We… Continue reading GM halts in-vehicle shopping app, looks to possibly bring better service
Ford recruits CEO with Detroit roots to run Michigan Central Station, Corktown site
Joshua Sirefman, an urban planner who trained at the University of Michigan and began his career in Detroit, is returning to lead the evolution of Michigan Central Station as the new CEO of what is now a subsidiary of Ford Motor Co. Sirefman, 54, lives in New York City and plans to look for a home within walking… Continue reading Ford recruits CEO with Detroit roots to run Michigan Central Station, Corktown site
Volta Trucks concludes Series C funding
Volta Trucks, a full-electric commercial vehicle manufacturer and services provider, has announced the successful and oversubscribed conclusion of its Series C funding round with a €230 million capital raise. The funding round was led by New York-based Luxor Capital, while initial seed investor, Byggmästare Anders J Ahlström of Stockholm, added to its holding in the… Continue reading Volta Trucks concludes Series C funding
New Ferrari Purosangue SUV confirmed for launch in 2022
The new Ferrari Purosangue SUV will make its debut later this year, with its arrival confirmed as part of the Italian brand’s 2021 financial report. It’ll be the Ferrari’s first ever off-roader – and has been designed to rival luxury models such as the Aston Martin DBX, the Lamborghini Urus and the Bentley Bentayga. Ferrari… Continue reading New Ferrari Purosangue SUV confirmed for launch in 2022
Michigan Porsche, VW dealers say car buyers anxious over burning cargo ship
Motor City Porsche Sales Manager Mike Moore has been fielding phone calls from anxious customers since Thursday. About a dozen customers of the Eastpointe dealership are awaiting luxury German cars they ordered, ranging in value from $50,000 to $265,000, with many landing at the higher end. But news Wednesday of a fire on a cargo ship, called the Felicity… Continue reading Michigan Porsche, VW dealers say car buyers anxious over burning cargo ship
Renault Group aims to be 100 percent EV brand in Europe by 2030
The Renault Group’s 2021 financial results have been ahead of target and the group is upbeat about the 2022 outlook. In an environment still impacted by the semiconductor crisis, particularly in the first half of 2022 and by the increase of raw materials prices, the Group is aiming to achieve operating margin of 4 percent… Continue reading Renault Group aims to be 100 percent EV brand in Europe by 2030