Tag: Financial Results

Daimler expects less profit

Thursday, 06/21/2018 09:52 clock The car company Daimler has reduced its outlook for 2018. As reasons were the trade conflict between the USA and China and the diesel affair called. Daimler expects earnings before interest and taxes (EBIT) to be slightly below the previous year’s level in the current year, the Dax Group announced in… Continue reading Daimler expects less profit

Diesel affair burdened car dealers

19.06.2018 Ι The diesel affair hits workers in car dealerships and car repair shops twice as hard. They sell fewer cars and diesel car owners like to let their frustration on them. Employees in the automotive industry are increasingly suffering from the consequences of the diesel affair. “What is still earned in service, is lost… Continue reading Diesel affair burdened car dealers

Varroc set to acquire Turkish lighting equipment supplier, also partner Italian co for EFI

Varroc Group’s MD, Tarang Jain: “Turkey is going to be a key market. Its car industry is 1.7 million units strong.” Homegrown auto component major Varroc Engineering is set to take a couple of steps aimed at strengthening its lighting business and entering into a new space. The Aurangabad-headquartered company is set to acquire a… Continue reading Varroc set to acquire Turkish lighting equipment supplier, also partner Italian co for EFI

Peek raises $23M and inks partnership with Google in push to digitize travel activities

Peek, a U.S. startup aiming to digitize the travel activities industry, has pulled a $23 million Series B round of financing and uncorked a partnership with Google that will help increase its visibility. Founded in 2012 by Ruzwana Bashir (CEO) and Oskar Bruening (CTO), the startup describes itself as “OpenTable for the activities market” in that it… Continue reading Peek raises $23M and inks partnership with Google in push to digitize travel activities

Tesla chief Elon Musk accuses worker of sabotage

Tesla chief executive Elon Musk has accused an employee of carrying out “extensive and damaging sabotage” at the electric carmaker. In an email to staff, Mr Musk said an unnamed employee made unspecified coding changes to its manufacturing operating system and sent sensitive data to unnamed third parties. The company did not comment and the… Continue reading Tesla chief Elon Musk accuses worker of sabotage

Technology Game Changer: Magna’s 48-Volt Transfer Case Leads Array of CO2-Fighting Products

One of the auto industry’s first 48-volt mild-hybrid transfer casesAchieves up to 10% CO2 savings compared to a two-wheel drive systemCan be easily integrated into existing drivetrainsSAILAUF, Germany, June 14, 2018 (GLOBE NEWSWIRE) — Magna is on the fast track to vehicle electrification. With its all-new industry-leading 48-volt transfer case and an array of other… Continue reading Technology Game Changer: Magna’s 48-Volt Transfer Case Leads Array of CO2-Fighting Products

Magna Develops Comfort+ Door Latch to Improve Door Quality and Cabin Quietness

Reduces effort needed to open and close a car door by 40-60 percentAllows increased sealing to create a quieter cabin – a key factor in driver satisfaction ratingsWill enter the market on future models with a European automakerAURORA, Ontario, May 23, 2018 (GLOBE NEWSWIRE) — For automakers, two key customer satisfaction considerations are the feel… Continue reading Magna Develops Comfort+ Door Latch to Improve Door Quality and Cabin Quietness

The BMW Group and CRITICAL Software are expanding their cooperation

Munich. Following successful collaboration in the past, the BMW Group and CRITICAL Software are now planning a strategic expansion of their cooperation. The two companies have reached an agreement to form a joint venture entitled Critical TechWorks, subject to examination of and approval from the relevant competition authorities. By creating this joint venture, the BMW… Continue reading The BMW Group and CRITICAL Software are expanding their cooperation

Bill Ford on CEO Hackett: ‘I love having him here’

CLOSE Bill Ford talks Detroit, last name Ford vs Forde Eric Seals, Detroit Free Press Buy Photo Jim Hackett, President and Chief Executive Officer of Ford Motor Company, with Bill Ford Jr. during the North American International Auto Show in Detroit in January 2018. (Photo: Mandi Wright, Detroit Free Press)Buy Photo Ford CEO Jim Hackett… Continue reading Bill Ford on CEO Hackett: ‘I love having him here’