LONDON (Reuters) – Luxury British carmaker Aston Martin remained in the black in the first quarter of 2018, although pretax profit fell due to a weaker dollar and investment on a series of model launches. FILE PHOTO: The Aston Martin Lagonda Vision Concept car is pictured during the 88th Geneva International Motor Show in Geneva,… Continue reading Aston Martin gears up for more growth ahead of possible flotation
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(2nd LD) Hyundai withdraws overhaul plan on opposition
(ATTN: CHANGES headline and lead; ADDS details throughout) SEOUL, May 21 (Yonhap) — Hyundai Motor Group on Monday withdrew a key spinoff merger plan in a setback to its corporate restructuring amid stepped-up opposition campaigns by some investors. The decision comes as global hedge fund Elliott and proxy advisers such as Institutional Shareholder Services (ISS)… Continue reading (2nd LD) Hyundai withdraws overhaul plan on opposition
Autoliv provides update on planned Veoneer spin-off
Mon, May 21, 2018 14:20 CET (Stockholm, Sweden, May 21, 2018) – Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems announces that Veoneer, its electronics segment, has filed an amendment to its Registration Statement on Form 10 in connection with its planned spin-off from Autoliv. Veoneer, Inc. has filed… Continue reading Autoliv provides update on planned Veoneer spin-off
Honda invests 50 million to produce the Insight in Indiana and Ohio (USA)
Posted 05/21/2018 13: 14: 52CET GREENSBURG (UNITED STATES), May 21. (EUROPA PRESS) – Honda has invested 61.5 million dollars (52.3 million euros at the current exchange rate) at its US and Indiana plants due to the start of production of the new Insight. The Japanese firm will support the production of the Insight in its… Continue reading Honda invests 50 million to produce the Insight in Indiana and Ohio (USA)
Motability faces official investigation into financial operations
Motability, the charity provider of lease cars, wheelchairs and scooters to disabled people, has come under fire over its financial operations. Motability Operations, which receives around £2 billion per year from the Department of Work and Pensions, has accrued a £2.4bn reserve in cash – a four-fold increase over 2008. Meanwhile, the salary of CEO… Continue reading Motability faces official investigation into financial operations
Mercedes-Benz to make electric EQA hatchback at upgraded Smart factory in France
Mercedes-Benz will construct its EQA electric hatchback at its Hambach plant in France where the electric Smart is currently made, following an investment of €500 million (about £438m) (Rs 4,000 crore). The entry-point into the Mercedes’s EQ electric car sub-brand, previewed by the Concept EQA at the 2017 Frankfurt motor show, will go on sale in 2020. It will join… Continue reading Mercedes-Benz to make electric EQA hatchback at upgraded Smart factory in France
2021 Jaguar J-Pace moves closer to production with global trademark
Jaguar is working at top speed on an all-new £80,000-plus J-Pace SUV for 2021, designed to beat the Porsche Cayenne at its own game. A global trademark filing for the J-Pace moniker suggests that the model is edging closer to production, having been scooped by Autocar last year. The Range Rover-rivalling SUV will have a brand-new… Continue reading 2021 Jaguar J-Pace moves closer to production with global trademark
Porsche Mission E: 592bhp output confirmed by Webber in new video
Porsche has released the first official drive footage of its upcoming Mission E electric sports car that shows it being driven at pace by Mark Webber around the brand’s Weissach test track. The Formula 1 race winner and 2015 World Endurance Championship champion demonstrates the all-electric car’s agility and traction on the technical layout, with the Porsche employee stating that it’s… Continue reading Porsche Mission E: 592bhp output confirmed by Webber in new video
Hyundai cancels corporate overhaul plan
SEOUL, May 21 (Yonhap) — Hyundai Motor Group on Monday canceled the corporate restructuring plan the company announced in March, following stepped-up campaigns of opposition by some investors. Under the corporate overhaul plan, the group’s auto parts supplier, Hyundai Mobis Co., was slated to spin off its domestic module and after-sales parts businesses and merge… Continue reading Hyundai cancels corporate overhaul plan
Honeywell Announces Alessandro Gili as CFO for Transportation Systems Spin
ROLLE, Switzerland, May 18, 2018 /PRNewswire/ — Honeywell (NYSE: HON) today announced Alessandro Gili has been named Chief Financial Officer for its Transportation Systems business, a position he previously held with luxury performance sports car maker Ferrari since 2015. Gili will join the Transportation Systems leadership team June 1 as it prepares to spin into a… Continue reading Honeywell Announces Alessandro Gili as CFO for Transportation Systems Spin