Vantage Motor Group has acquired the Toyota and Lexus businesses of Charles Clark Motors in Wolverhampton for an undisclosed sum. Vantage, rated 59 in the Motor Trader Top 200 with annual revenues of £262m, already has Toyota centres close by in Tamworth, Solihull and Birmingham where it also has a Lexus dealership. Vantage, which is… Continue reading Vantage buys Toyota dealerships from Charles Clark Motors
Tag: M and A
Geely plans to manufacture flying cars
A flying car named the TF-X lands at Lawrence Municipal Airport, Massachusetts. [Photo/China Daily] For Zhejiang Geely Holding Group, even the sky is no limit to its ambition, literally. The Chinese carmaker, which made headlines last week by becoming the largest shareholder in Mercedes-Benz owner Daimler, is to produce flying cars in China. A Geely… Continue reading Geely plans to manufacture flying cars
Volvo Cars global sales up 17.2 per cent in the first two months of 2018 as first XC40s reach customers
Volvo Cars global sales up 17.2 per cent in the first two months of 2018 as first XC40s reach customers Volvo Cars’ good start to 2018 continued in February after the premium car maker reported a global year-on-year sales increase of 12.1 per cent for the month, with deliveries of the new XC40 small… Continue reading Volvo Cars global sales up 17.2 per cent in the first two months of 2018 as first XC40s reach customers
Toyota to form $2.8 bln venture with group cos for self-driving R&D
TOKYO (Reuters) – Toyota Motor Corp and group suppliers Denso Corp and Aisin Seiki Co said on Friday they would form a joint venture for researching and developing automated-driving technology, investing more than 300 billion yen ($2.8 billion). FILE PHOTO: A Toyota Motor Corp. logo is seen on a car at the International Auto Show… Continue reading Toyota to form $2.8 bln venture with group cos for self-driving R&D
FAURECIA COMPLETES PURCHASE OF HUG ENGINEERING
Faurecia today announced that it had completed the acquisition of 100% of the Swiss company Hug Engineering, a market leader in complete exhaust gas purification systems for high horsepower engines (above 750hp). These engines are used in applications including marine propulsion, power generation, rail, agricultural and other industries. This acquisition represents a major step forward… Continue reading FAURECIA COMPLETES PURCHASE OF HUG ENGINEERING
Plastic Omnium is strengthening its position as world leader in front-end modules
On March 1st, 2018, Compagnie Plastic Omnium signed an agreement with the German group Mahle to acquire its 33.33% shareholding in the HBPO joint venture, up to then held by Plastic Omnium, Hella and Mahle-Behr.This acquisition was made at an Enterprise value of € 350 million and will be financed by the group’s own resources.After… Continue reading Plastic Omnium is strengthening its position as world leader in front-end modules
Withdrawal from joint venture: MAHLE plans to sell HBPO shares to Plastic Omnium
HBPO is specialized in the assembly, logistics, development, and design of front-end modules, consisting of bumpers, lighting systems, and cooling components. Assembly of front-end modules is not integral to MAHLE’s core business. MAHLE focuses on the development and production of cooling modules. The cooling modules installed in the front-end module are usually commissioned by the… Continue reading Withdrawal from joint venture: MAHLE plans to sell HBPO shares to Plastic Omnium
How Geely’s Li Shufu spent months stealthily building a $9 billion stake in Daimler
SHANGHAI/BEIJING (Reuters) – When Daimler announced that Li Shufu had acquired almost 10 percent of the automaker last Friday, it caught financial markets – and German regulators – by surprise. Although the move seemed sudden, the head of the Chinese carmaker Geely had, according to multiple sources and documents reviewed by Reuters, spent months stealthily… Continue reading How Geely’s Li Shufu spent months stealthily building a $9 billion stake in Daimler
Daimler takes back 100% of Car2Go
The Daimler Group has reached an agreement with Europcar to take over the shares held by the renter in the car-sharing service, Car2Go. Last step before the possibility of finalizing the project with BMW. The time of the merger between Car2Go and DriveNow car sharing services is getting closer. On March 1, 2018, Daimler announced… Continue reading Daimler takes back 100% of Car2Go
Allstate and Uber Team Up to Protect Riders and Drivers as Ridesharing Expands
NORTHBROOK, Ill., March 1, 2018 /PRNewswire/ — The right insurance protection is key, whether you’re a ridesharing passenger catching a ride or a driver using your car to offer rides. Allstate is partnering with Uber Technologies, Inc. to protect drivers and passengers by providing commercial auto coverage in Illinois, New Jersey and Wisconsin beginning March 1.… Continue reading Allstate and Uber Team Up to Protect Riders and Drivers as Ridesharing Expands