Tag: BMW

KKR-Backed Rundong Automobile Group Plans $138M HK IPO

Jiangsu province-based Chinese automobile dealership company Rundong Automobile Group is planning an IPO in Hong Kong to raise as much as US$138 million, according to an official prospectus. Rundong plans to sell 268.62 million shares at HK$3.58 to HK$3.98 per share, to raise as much as HK$1.07 billion (US$138 million). The proceeds will be used for acquisitions,… Continue reading KKR-Backed Rundong Automobile Group Plans $138M HK IPO

Tencent-Backed EV Start-Up Future Mobility Eyes $1.7B Nanjing Plant

Future Mobility Corporation, a Chinese electric car start-up backed by Tencent Holdings Ltd. and Foxconn Technology Group, announced plans yesterday to invest RMB11.6 billion (US$1.7 billion) to build a new factory in Nanjing to manufacture its self-developed electric vehicles. The planned project is expected to have the capacity to produce 300,000 cars a year eventually,… Continue reading Tencent-Backed EV Start-Up Future Mobility Eyes $1.7B Nanjing Plant

LeEco-backed Faraday Future Hires Deutsche Bank, BMW Veteran Stefan Krause As CFO

Faraday Future, a Los Angeles based smart electric car company backed by Jia Yueting, founder of Chinese technology conglomerate LeEco, has hired Stefan Krause as the company’s global chief financial officer. Krause is a former Deutsche Bank executive and chief financial officer of Bayerische Motoren Werke AG. Krause will be responsible for corporate finance, investor… Continue reading LeEco-backed Faraday Future Hires Deutsche Bank, BMW Veteran Stefan Krause As CFO

Rabenmutter

At Opel, it’s all about the whole thing: Just for the German GM daughter it was better again, because the Americans want to hit them again. How big is the damage this time? Wednesday, 15.02.2017 18:35 clock The tragedy of the automaker Opel shows up this week Friday in a small room. When it comes… Continue reading Rabenmutter

BMW announces record profit for 2016

In terms of sales and profits, BMW achieved record figures last year. However, the core business was weaker for the Group. BMW headquarters in Munich Thursday, 09.03.2017 13:35 clock BMW achieved a record profit last year. The bottom line was the car maker 6.9 billion euros, or eight percent more than last year. This was… Continue reading BMW announces record profit for 2016

Signature of two major contracts with Daimler

Clichy, January 7, 2014 Montupet, the specialist in cast aluminium alloy components for the automotive industry, announces today the signature of two major contracts with Daimler. These contracts concern the design and production of cylinder heads which will be produced at the Group’s Bulgarian site, one of the most modern foundries in the world. Already… Continue reading Signature of two major contracts with Daimler

BMW and Daimler let Apple flash off with iCar

Apple is suffering a setback in its expansion into the car market. According to “Handelsblatt” both BMW and Daimler reject a partnership with the IT giant. BMW headquarters in Munich Thursday, 21.04.2016 10:56 The US company Apple apparently failed with his attempt, along with BMW or Daimler to build a car. Appropriate negotiations are over,… Continue reading BMW and Daimler let Apple flash off with iCar

VW is on leave from Plenipotentiary

In the affair about exhaust gas tests on monkeys, the VW Group has the first consequences: Chief lobbyist Thomas Steg is on leave. He took full responsibility. Getty Images / Volkswagen Thomas Steg Tuesday, 30.01.2018 14:00 clock Because of the scandal about questionable exhaust gas tests, a first manager has to go to Volkswagen. Thomas… Continue reading VW is on leave from Plenipotentiary

VW wants to prevent use of monkey study in US process

Since over the exhaust gas tests on monkeys is reported, shows VW shaken. Corporate lawyers have apparently already realized the explosiveness of the issue earlier: For months they have tried to keep the study out of a US trial. Exhaust of an Audi vehicle (icon) Wednesday, 31.01.2018 09:37 clock Volkswagen is fighting hard in the… Continue reading VW wants to prevent use of monkey study in US process