Category: Suppliers

NIO China Receives First Two Installments of Cash Infusion

NIO Inc. NIO recently announced that its strategic investors, including Hefei City Construction and Investing Holding, CMD-SDIC Capital and Anhui Provincial Emerging Industry Investment, have completed cash injections for NIO Anhui, a legal entity of NIO China wholly owned by the company, for the first two installments of funding commitments. NIO Anhui’s minority investors include… Continue reading NIO China Receives First Two Installments of Cash Infusion

NIO Announces Substantial Completion of Cash Injections into NIO China in June

SHANGHAI, China, June 29, 2020 (GLOBE NEWSWIRE) — NIO Inc. (“NIO” or the “Company”) (NIO), a pioneer in China’s premium smart electric vehicle market, today announced that the investors have substantially completed the cash injection obligations for the first two installments of their investments in NIO China. NIO (Anhui) Holding Co., Ltd., or NIO Anhui,… Continue reading NIO Announces Substantial Completion of Cash Injections into NIO China in June

Changes on the board of management of Robert Bosch GmbH

Stuttgart, Germany – Effective December 31, 2020, Christoph Kübel (60) will be retiring from the board of management of Robert Bosch GmbH. He will then devote himself to other company-related activities, which will be made public in due course. Kübel began his more than 30-year career at Bosch in 1986, as a commercial trainee. He… Continue reading Changes on the board of management of Robert Bosch GmbH

Kongsberg Automotive ASA — Moody’s confirms Kongsberg’s B1 ratings, outlook negative

Moody’s Investors Service, (“Moody’s”) has today confirmed the B1 corporate family rating (CFR) and the B1-PD probability of default rating (PDR) of Kongsberg Automotive ASA (Kongsberg). Concurrently the rating agency has confirmed the B1 rating of the €275 million senior secured notes issued by its financing subsidiary Kongsberg Actuation Systems B.V. The outlook on all… Continue reading Kongsberg Automotive ASA — Moody’s confirms Kongsberg’s B1 ratings, outlook negative

Gestamp Funding Luxembourg S.A. — Moody’s downgrades Gestamp’s CFR to B1; confirms senior secured ratings at B1; outlook stable

Moody’s Investors Service, (“Moody’s”) has today downgraded the corporate family rating (CFR) of Gestamp Automoción, S.A. (Gestamp) to B1 from Ba3 and the probability of default rating (PDR) to B1-PD from Ba3-PD. Concurrently, Moody’s has confirmed B1 instrument ratings of the backed senior secured notes issued by Gestamp and Gestamp Funding Luxembourg S.A. The outlook… Continue reading Gestamp Funding Luxembourg S.A. — Moody’s downgrades Gestamp’s CFR to B1; confirms senior secured ratings at B1; outlook stable

Delphi Technologies PLC — Moody’s places Delphi’s ratings under review for upgrade, including B3 senior unsecured

Moody’s Investors Service (“Moody’s”) place the ratings of Delphi Technologies PLC’s (Delphi) on review for upgrade- including Corporate Family Rating (CFR) and Probability of Default Rating at B2 and B2-PD, respectively; and senior unsecured rating at B3. The $1.25 billion bank credit facility is not rated by Moody’s. Go to Source

Mercedes-Benz and Nvidia Sign a Deal to Make Cars More Like iPhones

Courtesy Mercedes-Benz Daimler, the maker of Mercedes-Benz cars, is forming a partnership with Nvidia to develop car computers and artificial-intelligence infrastructure for self-driving vehicles, the companies said. The Benz-Nvidia pact aims to create vehicles that are defined by the software which powers them. That would position the companies to benefit as Apple (ticker: AAPL) has… Continue reading Mercedes-Benz and Nvidia Sign a Deal to Make Cars More Like iPhones

Cummins to Form Joint Venture With NPROXX for Hydrogen Storage

COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI), a global technology and power solutions leader, today announced an agreement to form a joint venture with NPROXX, a leader in hydrogen storage and transportation, for hydrogen storage tanks. The joint venture will continue under the name NPROXX. “We are thrilled to combine Cummins’ expertise, innovation and commitment to… Continue reading Cummins to Form Joint Venture With NPROXX for Hydrogen Storage

Ford’s China ventures increase May sales as market rebounds

BEIJING, June 4 (Reuters) – Ford Motor’s China ventures have reported year-on-year sales growth for May in a sign of how the world’s biggest auto market is continuing its recovery from coronavirus-induced lows. The U.S. automaker’s Chongqing-based venture with Changan sold 23,491 vehicles in May, up 130% from a year earlier, it said on Thursday.… Continue reading Ford’s China ventures increase May sales as market rebounds