LONDON (Reuters) – Aston Martin delivered its first annual pre-tax profit since 2010 on Monday after last year’s sales reached a nine-year high, while the luxury British carmaker also confirmed it is considering a stock market flotation. Pre-tax profit reached 87 million pounds ($122 million) last year at fictional spy James Bond’s car brand of… Continue reading Aston Martin gears up for IPO with first pre-tax profit since 2010
Tag: M and A
Carmaker PSA, Malaysia’s Naza sign deal to produce PSA cars for Asia
PSA’s Chief Executive Carlos Tavares had said last month that it was hard to decide upon the group’s strategy for Vauxhall given lack of clarity over Britain’s plans to leave the European Union. PARIS: French carmaker PSA and Malaysian company Naza Corp have signed a deal to jointly produce PSA-branded cars for Malaysia and other… Continue reading Carmaker PSA, Malaysia’s Naza sign deal to produce PSA cars for Asia
BMW, Toyota Back a Driverless Startup That Wants to Start Small
As automakers spend billions to rack up autonomous miles and map city streets, Toyota Motor Corp. and BMW AG are also betting on a startup with a more modest approach. The corporate venture arms of the two carmakers led a $11.5 million seed investment round for May Mobility, a micro-transit company that deploys self-driving electric shuttles… Continue reading BMW, Toyota Back a Driverless Startup That Wants to Start Small
Daimler to expand local Mercedes-Benz production with BAIC in China
Foreseeing further growth potential in the Chinese automotive market, Daimler and BAIC today announced plans to further expand local production for the Mercedes-Benz brand at their joint venture, Beijing Benz Automotive Co (BBAC). Through an investment totaling over 11.9 billion RMB (about 1.5 billion euros) by Daimler and BAIC, BBAC will prepare to operate another… Continue reading Daimler to expand local Mercedes-Benz production with BAIC in China
Stoneacre Motor Group continues 2018 acquisitions with Burrows Motor Group Hyundai and Fiat deal
Stoneacre Motor Group has followed-up its January acquisition of Nottingham’s Chris Variava dealership complex with the completion of a deal to secure Burrows Motor Group’s Hyundai and Fiat franchises in Sheffield.
Opel needs more time again
The steering wheel can not be changed that fast: Even under the new owner PSA, the car manufacturer Opel is making heavy losses. Employees are wondering how hard the austerity program will be. Opel plant in Eisenach Monday, 26/02/2018 08:52 clock How much will remain of Opel after the takeover by the French PSA Group… Continue reading Opel needs more time again
Daimler to expand local Mercedes-Benz production with its partner in China
Daimler and BAIC announce plans to expand local production of Mercedes-Benz vehicles due to expected market demand in China Local production hub Beijing Benz Automotive Co. Ltd. (BBAC) to operate additional production location Investment of over 11.9 billion RMB to prepare BBAC for further growth opportunities in the Chinese automotive market 2nd Beijing production location… Continue reading Daimler to expand local Mercedes-Benz production with its partner in China
Mapbox Launches Global Reality-Grade AR Location Platform
BARCELONA, Spain, Feb. 26, 2018 /PRNewswire/ — As static 2D maps fade away with the bezels of mobile phones, the future interfaces for navigation and gaming exist in augmented reality. App developers need new frameworks and reality-grade location data to build the next generation of spatially-enabled augmented reality experiences. Mapbox AR is the first comprehensive toolkit… Continue reading Mapbox Launches Global Reality-Grade AR Location Platform
Naza Corporation Holdings and Groupe PSA Establish a Shared Manufacturing Hub In ASEAN
RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News: Today, Groupe PSA (Paris:UG) and Naza Corporation Holdings announced the signing of a share sale agreement and a joint venture agreement, officially establishing shared operation of the Naza Automotive Manufacturing (NAM) plant in Gurun, Kedah, as the first manufacturing hub in ASEAN for Groupe PSA. In attendance to witness, the event… Continue reading Naza Corporation Holdings and Groupe PSA Establish a Shared Manufacturing Hub In ASEAN
Chinese major shareholder launches multi-day charm offensive: Li Shufu visiting Daimler, Berlin relaxed
All articles and backgrounds 02/25/2018 Chinese major shareholder launches multi-day charm offensive Li Shufu visiting Daimler, Berlin quite relaxed REUTERS Largest Daimler shareholder on tour: Geely boss Li Shufu launched a multi-day charm offensive in Stuttgart and Berlin shortly after his entry Just yet a competitor, today already a major shareholder and guest in Stuttgart:… Continue reading Chinese major shareholder launches multi-day charm offensive: Li Shufu visiting Daimler, Berlin relaxed