Tag: M and A

Audi CEO crisis threatens fragile truce among VW stakeholders

FRANKFURT (Reuters) – The arrest and detention of Audi’s (NSUG.DE) chief executive forces Volkswagen Group’s (VOWG_p.DE) competing stakeholders to renegotiate the delicate balance of power that has helped keep Rupert Stadler in office. FILE PHOTO: Audi CEO Rupert Stadler speaks during the company’s annual news conference in Ingolstadt, Germany March 15, 2018. REUTERS/Michael Dalder/File Photo… Continue reading Audi CEO crisis threatens fragile truce among VW stakeholders

Hyundai Motor Group and Audi Partner in Fuel Cell Technology

SEOUL, South Korea and INGOLSTADT, Germany, June 20, 2018 /PRNewswire/ — Hyundai Motor Group (the Group) and AUDI AG (Audi) announced they have entered into a multi-year patent cross-licensing agreement, covering a broad range of fuel cell electric vehicle (FCEV) components and technologies. Under the new partnership, the world’s fifth-largest auto-making group and the German premium… Continue reading Hyundai Motor Group and Audi Partner in Fuel Cell Technology

Fosun agrees to buy German production systems firm FFT

June 20, 2018 Chinese conglomerate Fosun International has agreed to acquire Germany-based automated and flexible production systems provider FFT GmbH & Co. KGaA (FFT) for a still undisclosed amount. In a statement, Fosun said it will acquire FFT from ATON GmbH, a German family-owned private investment firm, through the funds managed by Fosun, giving FFT… Continue reading Fosun agrees to buy German production systems firm FFT

UPDATE 1-VW, Ford discuss alliance to develop and make transporter vans – sources

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) and Ford (F.N) are in preliminary talks over a development and production alliance for commercial transporter vans, two sources familiar with the matter said on Tuesday. The Ford logo is seen at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29,… Continue reading UPDATE 1-VW, Ford discuss alliance to develop and make transporter vans – sources

Lyft’s app code reveals unlaunched bike or scooter feature

Lyft hasn’t acquired a bike-sharing startup or gotten a scooter permit yet, but it’s already preparing its app for them with a feature codenamed “last mile”. Code and screenshots dug out of Lyft’s Android app reveal a way to search a map for last mile vehicles, and scan a QR code or enter a pin… Continue reading Lyft’s app code reveals unlaunched bike or scooter feature

Ford Acquires Iconic Michigan Central Station as Centerpiece of New Detroit Campus to Usher in Ford’s Smart, Connected Future

  Ford has acquired the iconic Michigan Central Station and plans to transform it into the centerpiece of a vibrant new campus in Detroit’s Corktown neighborhood that will serve as an innovation hub for Ford’s vision for the future of transportation The Corktown campus is a place where Ford and its partners will work on… Continue reading Ford Acquires Iconic Michigan Central Station as Centerpiece of New Detroit Campus to Usher in Ford’s Smart, Connected Future

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

Hyundai elevates India, US, Europe as regional headquarters

NEW DELHI: Hyundai Motor today announced making India and the US as regional headquarters, a move that would provide more functional autonomy for its business activities in these regions. As part of the organisational changes, the company has also elevated Europe as regional headquarters as it plans to grant greater autonomy to each region in… Continue reading Hyundai elevates India, US, Europe as regional headquarters

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