SOUTHFIELD, Mich., Oct. 28, 2021 /PRNewswire/ — Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced that it has entered into a definitive agreement to acquire substantially all of Kongsberg Automotive’s Interior Comfort Systems (ICS) business unit. Kongsberg Automotive’s ICS business unit specializes in comfort seating solutions, with a leadership… Continue reading Lear to Acquire Kongsberg Automotive’s Interior Comfort Systems Business Unit
Tag: Strategy
@VW Group: Volkswagen Q3 earnings impacted by massive semiconductor shortage – nine-month performance up on the prior year004103
Despite the ongoing structural shortage of semiconductors throughout the industry, Volkswagen delivered around 3.8 million vehicles to customers worldwide in the first nine months (+3.3% compared with the prior-year period). During the reporting period, sales revenue grew to EUR 55.5 billion (+18%) and the operating profit increased by EUR 2.6 billion year on year to… Continue reading @VW Group: Volkswagen Q3 earnings impacted by massive semiconductor shortage – nine-month performance up on the prior year004103
@Groupe PSA: PR Third Quarter 2021 Shipments and Revenues002702
Stellantis Reports Q3 Net Revenues of €32.6 Billion Significant Commercial Actions and New Product Launches Mitigated Continued Impact of Semiconductor ShortagesFull-Year Guidance Confirmed • Consolidated shipments(1) of 1,131 thousand units, down 27% compared to Q3 2020 Pro Forma(2) primarily due to loss of ~30% of Q3 2021 planned production, or ~600 thousand units, due to unfilled… Continue reading @Groupe PSA: PR Third Quarter 2021 Shipments and Revenues002702
@BMW: BMW to Open BMW M Driving Experience Center at Indianapolis Motor Speedway in 2022.001551
Woodcliff Lake, NJ – October 28, 2021… BMW of North America announced today the establishment of a new BMW M Driving Experience Center at Indianapolis Motor Speedway. The newly-constructed venue will host an array of driving classes taught by BMW certified drivers and include vehicle displays, training areas, meeting spaces, a rooftop lounge and hospitality… Continue reading @BMW: BMW to Open BMW M Driving Experience Center at Indianapolis Motor Speedway in 2022.001551
KONGSBERG AUTOMOTIVE TO DIVEST ITS LDC BUSINESS UNIT TO SUPRAJIT ENGINEERING LIMITED
Thu, Oct 28, 2021 14:19 CET Zurich, October 28, 2021: Kongsberg Automotive ASA (“Kongsberg Automotive”) has entered into an agreement for the sale of the Light-Duty Cables (“LDC”) business unit to Suprajit Engineering Limited (“Suprajit”). The LDC business unit is engaged in the development and manufacture of mechanical and electro-mechanical light-duty cables mainly used in… Continue reading KONGSBERG AUTOMOTIVE TO DIVEST ITS LDC BUSINESS UNIT TO SUPRAJIT ENGINEERING LIMITED
BREAKING: Donlen and Wheels to Merge
Athene is the primary stakeholder in the new company. Athene Athene, an industry-leading financial services company, is now the new primary stakeholder in a merger between Wheels, Inc. and Donlen, LLC. The two companies represent a highly complementary merger and will allow a single entity to offer enhanced mobility solutions and products across some of… Continue reading BREAKING: Donlen and Wheels to Merge
@Daimler: Daimler Truck receives solid investment grade ratings ahead of listing
First time investment grade ratings for Daimler Truck published by Moody’s and S&P Global Ratings S&P Global Ratings assigns first time credit rating of BBB + with stable outlook Moody’s assigns first time credit rating of A3 with a stable outlook Credit ratings reflect confidence in Daimler Truck’s substantial scale, strong market positions in profitable… Continue reading @Daimler: Daimler Truck receives solid investment grade ratings ahead of listing
@VW Group: Volkswagen Group’s Q3 result down year-on-year due to semiconductor bottlenecks – profitability target for 2021 confirmed004097
The global semiconductor bottlenecks particularly impacted on the business performance of the Volkswagen Group in the third quarter. Operating profit before special items came to EUR 2.8 (3.2) billion in the period from July to September, a drop compared with the first two quarters of this year and the pandemic-related weak prior-year period. The operating… Continue reading @VW Group: Volkswagen Group’s Q3 result down year-on-year due to semiconductor bottlenecks – profitability target for 2021 confirmed004097
@Daimler: Daimler aligns Board responsibilities after Trucks split: Jörg Burzer to join Board of Management
Daimler AG to enable leaner decision-making by aligning Management Board responsibilities with Mercedes-Benz AG Jörg Burzer, Member of the Board of Management of Mercedes-Benz AG for Production and Supply Chain Management, to also join Board of Management of Daimler AG Bernd Pischetsrieder: “Jörg Burzer has played a decisive role in transforming our global production network… Continue reading @Daimler: Daimler aligns Board responsibilities after Trucks split: Jörg Burzer to join Board of Management
@VW Group: Audi is establishing a high-voltage battery development at the Neckarsulm site (Key statements)004089
Audi is expanding its development of high-voltage batteries and banking on the Neckarsulm location for that. With that strategic decision, technical development will be intensified for the future and Neckarsulm will become a center of competency for a key electromobility technology. Additionally, a battery center for testing high-voltage storage technologies will go into operation by… Continue reading @VW Group: Audi is establishing a high-voltage battery development at the Neckarsulm site (Key statements)004089