General Motors Chairman and CEO Mary Barra told analysts Tuesday GM expects to exceed its 2017 profitability in North America and China. (Photo: Steve Fecht for General Motors) General Motors expects its 2018 profit to be in line with earnings from 2017, details of which it will report Feb. 6. But the automaker will not… Continue reading GM sees 2018 profits roughly equal to 2017 with slightly lower U.S. market
Tag: M and A
Ghosn Hints He May Leave CEO Role at French Carmaker Renault
Carlos Ghosn opened the door to stepping down as chief executive officer of Renault SA, as the longtime car-industry boss focuses on the Franco-Japanese alliance he built with Nissan Motor Co. and Mitsubishi Motors Corp. Ghosn, who handed over the CEO reins at Nissan last year, retains leadership posts at all three manufacturers while heading… Continue reading Ghosn Hints He May Leave CEO Role at French Carmaker Renault
UPDATE 1-Mazda vows to stay independent despite deeper ties with Toyota
DETROIT (Reuters) – Japan’s Mazda Motor Corp (7261.T) on Wednesday said that while it is deepening its development and production partnership with Toyota Motor Corp (7203.T), the small automaker would remain a company independent from its much bigger rival. Mazda and Toyota last week said they will build a $1.6 billion joint assembly plant in… Continue reading UPDATE 1-Mazda vows to stay independent despite deeper ties with Toyota
Dana Incorporated Announces Strong Preliminary 2017 Financial Results and Guidance for 2018, Increased Outlook for 2019, $800 Million of Sales Backlog, and Increase to Quarterly Dividend
MAUMEE, Ohio, Jan. 17, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) today announced strong preliminary financial results for 2017 and guidance for 2018. Preliminary sales and adjusted EBITDA for 2017 are in line with the company’s previous guidance. The 2018 guidance reflects significant sales, earnings, and cash flow growth. The increased outlook for 2019 represents a… Continue reading Dana Incorporated Announces Strong Preliminary 2017 Financial Results and Guidance for 2018, Increased Outlook for 2019, $800 Million of Sales Backlog, and Increase to Quarterly Dividend
Welsh Government purchases three per cent stake in TVR
TVR has gained a minority shareholder in the form of the Welsh government, which now owns three per cent of the revived British sports car manufacturer. Accounts filed at Companies House last month revealed that the Welsh government has spent £500,000 on acquiring the three per cent stake in TVR, with the Welsh taxpayer providing… Continue reading Welsh Government purchases three per cent stake in TVR
Grab announces acquisition of Bangalore-based payments startup iKaaz
Bangalore, 17 January 2018 – Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today announced it has acquired Bangalore-based payments startup iKaaz. The rich functionality of iKaaz’ mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay, Grab’s payments platform. Already Southeast Asia’s #1… Continue reading Grab announces acquisition of Bangalore-based payments startup iKaaz
Swedish engine plant is Volvo Cars’ first climate-neutral manufacturing site
Swedish engine plant is Volvo Cars’ first climate-neutral manufacturing site Volvo Cars’ engine factory in Skövde, Sweden, has become the company’s first climate-neutral manufacturing plant, having switched to renewable heating as of 1 January 2018. Skövde is the first plant in Volvo Cars’ global manufacturing network to reach this status, which marks a… Continue reading Swedish engine plant is Volvo Cars’ first climate-neutral manufacturing site
Ford Details Plans to Improve Fitness, Refocus Model Lineup and Accelerate Introduction of Smart Vehicles and Services
Operational fitness, portfolio rationalization and increased investments in electrification, autonomy and mobility at core of company strategy Company increases planned investments in electrification to $11 billion by 2022 Expanded electrified portfolio to include 40 electrified vehicles globally, including 16 full battery electric vehicles by 2022 Announces preliminary results for full-year 2017 of $1.95 earnings-per-share (EPS)… Continue reading Ford Details Plans to Improve Fitness, Refocus Model Lineup and Accelerate Introduction of Smart Vehicles and Services
Boeing, Adient Launch New Company to Design and Build Airplane Seats
SEATTLE, Jan. 16, 2018 /PRNewswire/ — Boeing [NYSE: BA] and Adient [NYSE: ADNT] today announced the formation of Adient Aerospace, a joint venture that will develop, manufacture and sell a portfolio of seating products to airlines and aircraft leasing companies. The seats will be available for installation on new airplanes and as retrofit configurations for… Continue reading Boeing, Adient Launch New Company to Design and Build Airplane Seats
China’s Chery will use Nvidia-powered ZF ProAI for Level 3 autonomous cars
Chinese automaker Chery will be building cars with Level 3 autonomous features powered by supplier ZF’s ProAI platform, which itself uses Nvidia GPUs for its driving intelligence. The partnership was announced at the North American International Auto Show today in Detroit, and follows announcements from CES where Nvidia announced further collaboration with ZF and with… Continue reading China’s Chery will use Nvidia-powered ZF ProAI for Level 3 autonomous cars