Ride-hailing firm Uber has promised to invest on “an indefinite basis” in the Middle East and North Africa, following its recent exits from a number of Asian territories. Speaking in an interview with the CNBC television channel, broadcast on April 26, the firm’s chief operating officer Barney Harford said the company planned to “double down… Continue reading Uber Vows “Indefinite” Investments In Middle East And Hints At Possible Move For Rival Careem
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Lear Reports Record First Quarter 2018 Results and Increases Full Year Financial Outlook
SOUTHFIELD, Mich., April 26, 2018 /PRNewswire/ — Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical systems, today reported record results for the first quarter 2018. Highlights include: Record sales of $5.7 billion, up 15% from a year ago Record net income of $353.7 million and record adjusted net income of $344.5… Continue reading Lear Reports Record First Quarter 2018 Results and Increases Full Year Financial Outlook
Hyundai Mobis outlines growth plans in line with group’s streamlining
SEOUL, April 26 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, on Thursday outlined its growth plans in line with its parent Hyundai Motor Group’s broad governance restructuring program. The move comes after Hyundai Motor Group announced last month that auto parts supplier Hyundai Mobis will spin off its domestic… Continue reading Hyundai Mobis outlines growth plans in line with group’s streamlining
March decline for UK car manufacturing as industry repeats call for continued membership of customs union
147,471 cars roll off UK production lines in March, down -13.3% on same month in 2017. Output for home market falls for eighth consecutive month, by -17.7%, with exports also dropping -11.9%. Q1 manufacturing down -6.3% year on year to 440,426 units, with eight in 10 shipped overseas. SMMT restates need to maintain frictionless UK-EU… Continue reading March decline for UK car manufacturing as industry repeats call for continued membership of customs union
Nissan CEO says ‘no merit’ in merger with Renault
Sources told Reuters in March that the automakers were discussing plans for a closer tie-up in which Nissan would acquire the bulk of the French state’s 15 per cent Renault holding. Nissan Motor Co’s chief executive dismissed the idea of merging the Japanese automaker with its alliance partner Renault, emphasizing the importance of independence as… Continue reading Nissan CEO says ‘no merit’ in merger with Renault
LG ACQUIRES GLOBAL PREMIUM AUTOMOTIVE LIGHTING COMPANY ZKW GROUP
EUR 1.1 Billion Deal Largest in LG’s 60 Year History SEOUL, Apr. 26, 2018 ― Earlier today, the Board of Directors of LG Electronics (LG) approved the acquisition of leading automotive lighting and headlight systems provider ZKW Group, capping a deal worth more than EUR 1.1 billion, LG’s largest acquisition to date. Under the terms… Continue reading LG ACQUIRES GLOBAL PREMIUM AUTOMOTIVE LIGHTING COMPANY ZKW GROUP
Growth, earnings, environmental protection: in its quest to make mobility as emissions-free as possible Bosch has achieved a breakthrough
Presentation by Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH and Prof. Stefan Asenkerschbaumer, deputy chairman of the board of management, at the annual press conference on April 25, 2018 Ladies and gentlemen,we deliberately chose not to begin this annual press conference with the traditional presentation of our financial position.… Continue reading Growth, earnings, environmental protection: in its quest to make mobility as emissions-free as possible Bosch has achieved a breakthrough
Penta Security Introduces Blockchain That Trades Vehicle Data
Penta Security System has chosen blockchain as its new driving force. Based on its experiences from vehicle security industry, it is planning to introduce blockchain for trading vehicle data. It is also pushing for ICO (Initial Coin Offering) in Singapore next month.CEO Lee Seok-woo of Penta Security held a press conference at its headquarters on… Continue reading Penta Security Introduces Blockchain That Trades Vehicle Data
Volvo’s Polestar 1 luxury hybrid will cost $155,000
Polestar At the Geneva Motor Show last month, Volvo flaunted its long-range plug-in hybrid Polestar 1, which can pull with 600 horsepower thanks to its two electric motors and a 2.0 liter turbo engine. The final price on such a beast has just been revealed at Auto China 2018 in Beijing: $155,000 in the US,… Continue reading Volvo’s Polestar 1 luxury hybrid will cost $155,000
Ford Delivers First Quarter $1.7B Net Income, $2.2B Adj. EBIT; Fitness Actions Improve 2020 Outlook
About Ford Motor Company Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility solutions.… Continue reading Ford Delivers First Quarter $1.7B Net Income, $2.2B Adj. EBIT; Fitness Actions Improve 2020 Outlook