STOCKHOLM, Sept 14 (Reuters) – Shares in Veoneer Inc edged down on Tuesday after the auto tech firm stuck to its recommendation for Magna International’s bid after receiving an updated, non-binding offer from Qualcomm . The Swedish company has become an attractive takeover target as its expertise in making advanced driver assistance systems fits in… Continue reading Veoneer sticks with Magna offer after Qualcomm’s revised bid, shares drop
Tag: Contract Manufacturer
Qualcomm Said to Place Binding Bid for Auto Tech Firm Veoneer
(Bloomberg) — Qualcomm Inc. has made a formal bid to buy automotive technology company Veoneer Inc. for more than $4 billion, beating a previous offer from Magna International Inc., according to people familiar with the matter. The U.S. semiconductor company has formalized its offer of $37 a share, the people said, asking not to be… Continue reading Qualcomm Said to Place Binding Bid for Auto Tech Firm Veoneer
Italvolt signs one million square meters land purchasing agreement
Italvolt’s gigafactory, which once fully operational, is destined to become one of Europe’s largest production and storage sites of lithium batteries for electric vehicles, with a planned capacity of 45 GWh. This represents one of the most important and largest industrial investment projects in Italy in modern times, involving an overall investment of around 3.4 billion… Continue reading Italvolt signs one million square meters land purchasing agreement
Sweden’s Veoneer says still recommends Magna merger
STOCKHOLM, Sept 9 (Reuters) – Swedish auto parts maker Veoneer Inc said on Thursday that it was continuing to recommend the bid from Magna International Inc , while remaining in discussions with Qualcomm. “Veoneer continues to recommend Magna merger at this time,” it said in a statement. Veoneer added that it would continue to engage… Continue reading Sweden’s Veoneer says still recommends Magna merger
Veoneer Files Definitive Proxy in connection with Magna Merger Agreement
– Continues to recommend Magna merger at this time – Continues discussions with Qualcomm regarding potential transaction STOCKHOLM, Sept. 9, 2021 /PRNewswire/ — The automotive technology company Veoneer, Inc. (NYSE: VNE) and (SSE: VNE SDB), today announced that it has filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) ahead of… Continue reading Veoneer Files Definitive Proxy in connection with Magna Merger Agreement
Steyr to manufacture Volta electric trucks in Austria
Volta Trucks, the full-electric commercial vehicle manufacturer and services provider, has confirmed that the first Volta Zero vehicles will be manufactured in Steyr, Austria, by Steyr Automotive, formerly MAN Truck and Bus Austria. The announcement follows a wide-ranging competitive tender process with potential suppliers throughout Europe. Steyr Automotive were appointed based on its extensive experience… Continue reading Steyr to manufacture Volta electric trucks in Austria
CarMedialab provides charging management system for Leipzig electric buses
The public transport operator for Leipzig, Germany plans to bring 21 VDL electric buses into service on three routes before the end of this year. To ensure they are charged efficiently and cost-effectively, Leipziger Verkehrsbetriebe (LVB) will use a charging management system from INIT subsidiary CarMedialab. LVB’s depot management system, which has been updated to… Continue reading CarMedialab provides charging management system for Leipzig electric buses
Porsche CEO Says Electric Supercars Will Win Out: Munich Update
(Bloomberg) — Munich plays host this week to IAA Mobility, where European automakers and their suppliers are unveiling wares together for the first time since before Covid. When Germany last held such a forum two years ago, it would have seemed odd to promote a car’s ability to shield passengers from viruses. Semiconductors weren’t on… Continue reading Porsche CEO Says Electric Supercars Will Win Out: Munich Update
World NM: Automotive giant Magna’s Slovenian plant to be relaunched in early 2022001561
Magna Steyr vice president Erwin Fandl and David Adam, director of the Slovenian Magna plant in Hoče, have informed representatives of the Slovenian government and local authorities that production in Hoče would be relaunched at the start of next year. Magna committed to meet certain targets in exchange for a state incentive, including in terms… Continue reading World NM: Automotive giant Magna’s Slovenian plant to be relaunched in early 2022001561
Analysis: Why Ford faces a daunting future in India
The American brand is facing the biggest crisis of its 25-year existence in India as it stares at a product drought for the next 2-3 years, with no new models in the offing. With the launch of the Figo automatic in July and the imminent launch of the EcoSport facelift, seen in numerous spy photos in Autocar India,… Continue reading Analysis: Why Ford faces a daunting future in India