FRANKFURT (Reuters) – Car parts’ maker Benteler’s move from Germany to Austria in 2010 cut its tax bill but may now create a hurdle as the company seeks to access state support during the coronavirus crisis. Benteler’s sales have slumped as demand for new cars collapsed in the wake of the pandemic, people familiar with… Continue reading Car parts maker Benteler’s move out of Germany haunts state aid hopes
Tag: Tier 1 Suppliers
@Daimler: Series production premiere of the Electronic Stability Program ESP® twenty-five years ago
Launched in 1995 in the Mercedes-Benz coupés of model series 140 This assistance system supports drivers in situations where driving dynamics are critical Today, this is a technological industry benchmark worldwide The sensational technology is hidden behind an unassuming abbreviation: ESP® which stands for Electronic Stability Program. It supports the driver in dynamically critical driving situations… Continue reading @Daimler: Series production premiere of the Electronic Stability Program ESP® twenty-five years ago
Financial cushion: Continental improves its liquidity with a bond issue worth billions
Construction site for the new Continental headquarters The supplier is suffering from the long production break in the auto industry from mid-March to late April. (Photo: dpa) Hannover The car supplier and tire manufacturer Continental has raised billions of new debts to strengthen its financial cushion in the corona crisis. With two bonds, the market… Continue reading Financial cushion: Continental improves its liquidity with a bond issue worth billions
Press: Electric central drive for public transportation: ZF CeTrax goes into production
Series production of the electric central drive CeTrax to start in the third quarter of 2020 Bus manufacturer Solaris installs CeTrax for the first time in Urbino 15 LE electric E-mobility solutions by ZF support future-proof and emission-free local transport Friedrichshafen. In order to make the conversion to local emission-free public transport as easy and… Continue reading Press: Electric central drive for public transportation: ZF CeTrax goes into production
Gestamp recorded revenues of €2,011m during the first three months of 202018.05.2020Gestamp presented its results for the first three months of 2020 w…
Gestamp, the multinational company specialized in the design, development and manufacture of metal components for the automotive industry, presented its results for the first three months of 2020 with revenues amounting to €2,011m despite the uncertain market environment as a result of the COVID-19 pandemic. The reported revenue figure implies a -7.3% decrease (or -6.1%… Continue reading Gestamp recorded revenues of €2,011m during the first three months of 202018.05.2020Gestamp presented its results for the first three months of 2020 w…
Waymo expands first external investment round to $3 billion
Waymo has added an additional $750 million to the $2.25 billion funding round that it first announced in March, bringing the total size of the financing (its first from investors outside of Alphabet) to $3 billion. The extension comes from new investors, including those managed by T. Rowe Price, Perry Creek Capital, Fidelity Management and… Continue reading Waymo expands first external investment round to $3 billion
WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
BERN, Switzerland and FRIEDRICHSHAFEN, Germany, May 15, 2020 (GLOBE NEWSWIRE) — WABCO Holdings Inc. (“WABCO”) (NYSE: WBC) (www.wabco-auto.com) and ZF Friedrichshafen AG (“ZF”) today announced that the Chinese State Administration for Market Regulation provided regulatory clearance for their previously announced merger.All required regulatory approvals have now been received and WABCO and ZF expect to close… Continue reading WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
Lear plant in Flint had ‘every square inch’ adapted in response to coronavirus
CLOSE Autoplay Show Thumbnails Show Captions Last SlideNext Slide Plexiglass sneeze guards separate the work stations, carts hold cleaning supplies and signs seemingly everywhere remind workers to social distance. But Mark Bennett, who works in operations at the Lear seating plant in Flint, said the biggest change for workers when they return on Monday will likely… Continue reading Lear plant in Flint had ‘every square inch’ adapted in response to coronavirus
Auto parts maker BorgWarner sees 2020 revenue up to $8 bln
(Reuters) – BorgWarner (BWA.N) on Friday forecast full-year net sales of up to $8 billion and said it expects to generate positive free cash flow of between $100 million and $300 million for the year. The auto parts maker expects 2020 revenue of between $7.25 billion and $8 billion, the midpoint of which is below… Continue reading Auto parts maker BorgWarner sees 2020 revenue up to $8 bln
@BMW: Energy for cities of the future: In May and June, the FUTURE FORUM by BMW Welt will focus on electrification.
Munich. In the coming weeks, the FUTURE FORUM by BMW Welt dialog platform will be providing exciting insights into the world of tomorrow. The overriding theme for May and June is electrification. With input from a variety of experts, this topic will be viewed from lots of different angles. Among other things, the individual events will… Continue reading @BMW: Energy for cities of the future: In May and June, the FUTURE FORUM by BMW Welt will focus on electrification.