Geely is planning on building a new plant in the eastern port city of Ningbo that is capable of producing 250,000 units of larger-sized vehicles annually. It expects the move to boost sales growth and help meet the goal of selling over two million vehicles by 2020, sources tell Automotive News. The new facility will… Continue reading Geely to build new plant in China to boost growth
Tag: Financial Results
Volvo 360c concept calls for universal safety standard for autonomous car communication
Volvo 360c concept calls for universal safety standard for autonomous car communication With its new 360c autonomous concept, Volvo Cars tackles one of the main challenges around the introduction of autonomous technology and calls for a new, global standard in how autonomous vehicles can safely communicate with all other road users. Autonomous drive… Continue reading Volvo 360c concept calls for universal safety standard for autonomous car communication
Volvo Cars’ new 360c autonomous concept: reimagining the work-life balance and the future of cities
Volvo Cars’ new 360c autonomous concept: reimagining the work-life balance and the future of cities Where would you live if you could commute each workday in an autonomous driving, fully-functional, connected, comfortable, mobile office space? What if the service was provided via an on demand subscription basis? Or what if it was provided by… Continue reading Volvo Cars’ new 360c autonomous concept: reimagining the work-life balance and the future of cities
Volvo Cars’ new 360c autonomous concept: why fly when you can be driven?
Volvo Cars’ new 360c autonomous concept: why fly when you can be driven? Imagine a world in which you travel long distances without the need for airports. A world in which you can avoid airport security, hours of queuing and waiting, and noisy, cramped airliners. What if, instead, you could take your own first-class… Continue reading Volvo Cars’ new 360c autonomous concept: why fly when you can be driven?
Morgan Stanley: Tesla’s autonomous ride-sharing network is worth one-tenth of Waymo
Morgan Stanley has valued Tesla’s autonomous vehicle ride-sharing business, which does not yet exist, at $17.7 billion, about one-tenth of Waymo’s value, yet still above GM Cruise, the investment firm said in a research note published Tuesday. The $17.7 billion valuation, or about $95 per Tesla share, is notably lower than the $244 a share… Continue reading Morgan Stanley: Tesla’s autonomous ride-sharing network is worth one-tenth of Waymo
MAHLE acquires Italian thermostat specialist
Press releases
Press archives
Media service
Publications
Press contact
Home
Press
Press releases
MAHLE acquires Italian thermostat specialistStuttgart/Germany, September 4, 2018 – In August, the MAHLE Group acquired all the shares in the former joint venture Behr Thermot-tronik Italia S.p.A. (BTTI), which has been renamed MAHLE Behr Grugliasco S.p.A. with immediate effect. The former shareholders, MAHLE Behr Kornwestheim GmbH and Valtri S.p.A., jointly agreed to this step in order to pursue the long-term, future-oriented focus and successful ongoing development of BTTI.
Press release [PDF; 31 KB]Press release (Italian version) [PDF; 45 KB] Complete acquisition of Behr Thermot-tronik Italia (BTTI)Thermal management products of great strategic importance for MAHLETapping additional potential in the Italian marketAt its headquarters in Grugliasco near Turin in northern Italy, the company develops and produces a broad range of thermostat products for use in all vehicle classes. The employment contracts of the currently around 120 employees are expected to remain unchanged, and no physical relocations are planned. “We are delighted that the employees of BTTI will now belong fully to MAHLE. Their skills and experience will secure the successful development of MAHLE Behr Grugliasco and therefore also of MAHLE,” says Bernd Eckl, Member of the Management Board and responsible for the Thermal Management business unit at MAHLE.
BTTI’s products are already an important component of MAHLE’s portfolio, as complex thermal management tasks within the vehicle can only be realized by intelligently controlling the energy flows that arise. Control systems such as map controlled thermostats ensure precise temperature regulation tuned to meet demand and thus promote more efficient operation, reduced consumption, less wear, and lower emissions.
“Aside from the technological aspect, MAHLE also benefits from the BTTI team’s excellent reputation, extensive expertise, and outstanding customer relationships in the Italian market. This applies both to the original equipment and the spare parts businesses,” says Arnd Franz, Member of the Management Board and responsible for Automotive Sales and Application Engineering as well as for the Aftermarket business unit at MAHLE.
As a result of the acquisition, the Italian thermostat specialist will now benefit fully from the systems competence and global network of the MAHLE supplier group.
“For us, it was important to offer employees long-term, futureoriented prospects. We believe that MAHLE’s acquisition offers the best opportunity for BTTI to continue developing successfully,” says Franco Triberti, representative of the former shareholder family.
In turn, MAHLE is expanding its strategically significant thermal management product portfolio. Efficient thermal management is becoming increasingly important, irrespective of the powertrain configuration. In internal combustion drives, the cooling system plays an important part in making vehicles even more efficient. For electric vehicles, the economical use of hot and cold flows is the basis for performance, cruising range, and service life. Integrated, efficient, and intelligent thermal management is therefore a prerequisite for e-mobility.
Behr Thermot-tronik Italia was created in 1997 from Behr Thomson Italia. Since it was founded, the joint venture has worked closely with Behr Thermot-tronik’s other entities. These have already been fully integrated in the MAHLE Group for some time as part of MAHLE’s majority acquisition of Behr in 2013.
About MAHLEMAHLE is a leading international development partner and supplier to the automotive industry as well as a pioneer for the mobility of the future. The MAHLE Group is committed to making transportation more efficient, more environmentally friendly, and more comfortable by continuously optimizing the combustion engine, driving forward the use of alternative fuels, and laying the foundation for the worldwide introduction of e-mobility. The group’s product portfolio addresses all the crucial issues relating to the powertrain and air conditioning technology—both for drives with combustion engines and for e-mobility. MAHLE products are fitted in at least every second vehicle worldwide. Components and systems from MAHLE are also used off the road—in stationary applications, for mobile machinery, rail transport, as well as marine applications.
In 2017, the group generated sales of approximately EUR 12.8 billion with about 78,000 employees and is represented in more than 30 countries with 170 production locations. At 16 major research and development centers in Germany, Great Britain, Luxembourg, Spain, Slovenia, the USA, Brazil, Japan, China, and India, around 6,100 development engineers and technicians are working on innovative solutions for the mobility of the future.
For further information, contact: MAHLE GmbH
Margarete Dinger
Corporate Communications/Public Relations
Pragstraße 26–46
70376 Stuttgart/Germany
Phone: +49 711 501-12369
Fax: +49 711 501-13700
margarete.dinger@mahle.com
Annual report
This was our year 2017
Download
[PDF; 5087 KB]
Key figures
[PDF; 1464 KB]
Annual report website
MAHLE Performance
Our customer magazine
More
MAHLE develops new generation of thermally insulating piston coatings
Press releases
Press archives
Media service
Publications
Press contact
Home
Press
Press releases
MAHLE develops new generation of thermally insulating piston coatingsStuttgart, September 4, 2018 – A new generation of MAHLE piston coatings is being developed with the purpose of increasing efficiency and minimizing emissions. These coatings are intended to guide and reduce the heat entering the pistons. This initially reduces the demand for piston cooling, and the increased exhaust gas temperature allows a higher quantity of energy to be extracted by waste heat recovery (WHR) systems. At the same time, the higher exhaust gas temperature permits faster heating of the exhaust gas aftertreatment system following the cold start. The resulting decrease in NOx emissions makes it easier to comply with current and future legislation.
Press release [PDF; 35 KB]Press picture [JPG; 4128 KB] Coatings reduce the piston’s heat inputIncreased exhaust gas temperature allows more energy to be extracted via waste heat recovery systemsFaster heating of the exhaust gas aftertreatment system improves emissions behaviorMAHLE achieves additional positive effects by optimizing the piston galleries—for instance, the MonoLite® piston with its kidney-shaped cross section. This allows a temperature reduction of up to 20 kelvin without any negative impact on the aging process of the oil used. The combination of reduced oil flow and a small compression height helps to minimize friction and fuel consumption.
MAHLE is securing the future of the combustion engineIn the commercial vehicle sector, the diesel engine will remain the dominant drive source for the foreseeable future, despite increasing diversification of the powertrain. This makes it even more important to continuously develop the diesel engine in order to reduce emissions and operating costs. Thanks to its holistic systems competence, MAHLE is able to tap new savings potential where no further improvement is possible at component level.
About MAHLEMAHLE is a leading international development partner and supplier to the automotive industry as well as a pioneer for the mobility of the future. The MAHLE Group is committed to making transportation more efficient, more environmentally friendly, and more comfortable by continuously optimizing the combustion engine, driving forward the use of alternative fuels, and laying the foundation for the worldwide introduction of e-mobility. The group’s product portfolio addresses all the crucial issues relating to the powertrain and air conditioning technology—both for drives with combustion engines and for e-mobility. MAHLE products are fitted in at least every second vehicle worldwide. Components and systems from MAHLE are also used off the road—in stationary applications, for mobile machinery, rail transport, as well as marine applications.
In 2017, the group generated sales of approximately EUR 12.8 billion with about 78,000 employees and is represented in more than 30 countries with 170 production locations. At 16 major research and development centers in Germany, Great Britain, Luxembourg, Spain, Slovenia, the USA, Brazil, Japan, China, and India, around 6,100 development engineers and technicians are working on innovative solutions for the mobility of the future.
For further information, contact:MAHLE GmbH
Christopher Rimmele
Corporate Communications/Public Relations
Pragstraße 26–46
70376 Stuttgart/Germany
Phone: +49 711 501-12374
Fax: +49 711 501-13700
christopher.rimmele@mahle.com
Annual report
This was our year 2017
Download
[PDF; 5087 KB]
Key figures
[PDF; 1464 KB]
Annual report website
MAHLE Performance
Our customer magazine
More
Toyota is investing $500 million in Uber at a valuation reported at $72 billion
Toyota reportedly set to invest $500 million in Uber at a valuation of $72 billion
5:23 PM ET Mon, 27 Aug 2018 | 00:51
Toyota is investing $500 million investment in ride-hailing giant Uber in a bid to accelerate autonomous ride-sharing, the companies announced on Monday afternoon.
The investment values Uber, one of the world's most valuable privately held companies, at $72 billion, according to a report in the Wall Street Journal. That's a significant jump from Uber's most recently stated valuation of $62 billion, based on a self-reported tender offer at the end of the first quarter. The company lost $659 million last quarter, marking a wider loss than its first-quarter figure, according to its own report.
Under the deal, the companies will incorporate self-driving technology into vehicles based on Toyota's Sienna minivans, and the companies plan to begin piloting the program in 2021, they said. Toyota has dubbed the platform “Autono-MaaS,” standing for “autonomous mobility as a service.”
In June, Toyota invested $1 billion in Southeast Asian Uber-rival Grab.
Tesla is a ‘hope stock’ that is ‘just not real,’ fund manager says
Toyota investing $500 million in Uber to roll out a self-driving fleet
3:58 AM ET Tue, 28 Aug 2018 | 03:42
Tesla is a “hope stock” with little chance of success in the car-manufacturing industry, a fund manager told CNBC on Tuesday.
“Are we living in the real world?” Tesla is just another one of those hope stocks,” Peter Toogood, chief investment officer at The Embark Group, said on CNBC's “Squawk Box Europe.”
Tesla's share price took a nosedive Monday after the company's Chief Executive Elon Musk abruptly halted plans to take the firm private.
Musk had shocked investors on August 7 by announcing his aim to remove Tesla from the stock market at $420 per share. The firm's shares have shed almost 16 percent off their value since.
Days after that initial announcement, Musk said that Saudi Arabia's sovereign wealth fund had approached him “multiple times” about taking the firm off the public market, lifting hopes that Tesla could raise some much-needed cash to help its drive toward profitability. Such hopes of a Saudi deal have waned since Musk's U-turn on taking Tesla private.
Joshua Lott | Getty Images
Elon Musk
Despite Toogood's bearish thoughts on Tesla's auto manufacturing abilities, the analyst said there was “hope” for the firm in its self-driving technology.
“The only bit that has got hope is the autonomous driving,” Toogood said, adding, “(but) the idea to compete on a platform basis with cars; it's losing money every time it sells one.”
The investment manager said that the lack of a network for servicing Tesla cars was also a point of concern. Some international customers, for instance, have bemoaned repair waiting times, as parts need to be shipped from overseas.
“He's losing money every time he sells a car today, and he can't service them,” Toogood said. “Ask Norway, they can't actually get the car serviced because there's no network to service them. It's just not real.”
Norway is considered an electric vehicle-friendly country due to subsidies aimed at improving affordability and an overall target of going all-electric by 2025.
“Tesla continues to be a transformational company, especially on Model 3 production and demand,” Daniel Ives, chief strategy officer and head of technology research at GBH Insights, told CNBC in an email Tuesday.
“However, this last month has been a nightmare for Tesla bulls and the Street continues to put the company in the investor penalty box, given all the uncertainty surrounding the name in the near-term with the going-private fiasco front and center. At this point there are more questions than answers on Tesla.”
Tesla's stock price target was cut by a number of brokers on Monday and Tuesday, including CFRA, Independent Research and Canaccord Genuity.
Musk is the largest investor in Tesla, owning almost a fifth of the company's shares. Market observers have expressed worries over his leadership, citing the executive's presence on Twitter, involvement in public issues and general disdain for the media as causes for concern.
Electric switch poses existential challenge to carmakers
When Tesla started production of the Model S saloon in 2012, the start-up had fewer than 3,000 employees. Chief executive Elon Musk had the luxury of beginning with a blank page, to hire just the specialists he needed and to even risk complete failure in his quest to launch the first successful electric-only car brand.… Continue reading Electric switch poses existential challenge to carmakers