By Nadine Schimroszik BERLIN, – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial infusion from Japan’s Softbank meant it was under no pressure to launch an initial public offering to fund its pan-European growth plans. Softbank, through its Vision Fund, will make around half of its investment via new shares,… Continue reading Auto1 says no need for IPO after Softbank invests
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Snows Group buys Portfield in Chichester
Snows Group has hit the acquisition trail buying Portfield in Chichester,which represents Citroën, Mazda and Peugeot (pictured) brands in the city. A Toyota franchise dealership is also being developed for the site. The deal also includes Portfield Part Exchange Centre Bognor Regis, which will become Snows’10th specialist used car outlet under the banner Too Good… Continue reading Snows Group buys Portfield in Chichester
UPDATE 1-Auto1 says no need for IPO after Softbank invests
BERLIN (Reuters) – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial infusion from Japan’s Softbank meant it was under no pressure to launch an initial public offering to fund its pan-European growth plans. Softbank, through its Vision Fund, will make around half of its investment via new shares, valuing Auto1… Continue reading UPDATE 1-Auto1 says no need for IPO after Softbank invests
“We will take care of white spots”: ZF thinks after debt reduction back to acquisitions
ZF Friedrichshafen “If we spot white spots, then we’ll take care of it.” (Photo: AP) The auto supplier ZF Friedrichshafen can imagine larger takeovers after reducing its debt burden. The US billion purchase TRW is now almost completed, said since December acting CEO Konstantin Sauer on Sunday (local time) in the context of the US… Continue reading “We will take care of white spots”: ZF thinks after debt reduction back to acquisitions
ZF off to a Strong Start in 2018
“The improved rating highlights our solid financial policies and is a milestone in securing financial independence which is firmly anchored into the long-term ZF 2025 Strategy,” added Sauer, who is also CFO of the ZF Group. “We are making excellent progress in reducing debt that originated from the TRW acquisition in 2015. In fact, progress… Continue reading ZF off to a Strong Start in 2018
NTUC FairPrice and Grab to launch new subscription service
SINGAPORE, 15 January 2018 – Singapore’s largest supermarket chain, NTUC FairPrice (FairPrice) and Southeast Asia’s leading on-demand transportation and mobile payments platform, Grab, signed a Memorandum of Understanding (MOU) to embark on a joint initiative to launch a new subscription service. Tapping cross-industry strengths from both organisations, the strategic partnership is designed to complement consumers’… Continue reading NTUC FairPrice and Grab to launch new subscription service
Trump official: Self-driving cars must benefit rural communities, not just cities
Transportation Secretary Elaine Chao.(Photo: Brendan Smialowski, AFP/Getty Images) DETROIT — A top Trump administration official said it’s vital for the auto industry to ensure that self-driving cars help improve life in rural communities and not just urban areas. Transportation Secretary Elaine Chao also hailed the “tremendous potential” of self-driving vehicles to improve automotive safety and drive economic… Continue reading Trump official: Self-driving cars must benefit rural communities, not just cities
Car sales return to Russia after four years of diving
Dealers are breathing again in Russia. The local automotive market, still led by Lada, a subsidiary of Renault, recorded last year a volume of 1.59 million new registered vehicles, an increase of 11.9% compared to 2016. Phenomenon attributable in particular to the bottom current level of inflation and the stability of the ruble, which gives… Continue reading Car sales return to Russia after four years of diving
Fiat CEO Sees Room to Double Profit by 2022
Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne, one of the longest-serving bosses in the auto industry, said the company can double profit within five years by exploiting the potential of the Jeep brand. Sergio Marchionne Photographer: Chris Ratcliffe/Bloomberg With the offroad nameplate in position to grab as much as 20 percent of the… Continue reading Fiat CEO Sees Room to Double Profit by 2022
3D printing news Sliced Arcam, Optomec, TU Delft, Neri Oxman
Today in Sliced: Additive Industries, Arcam, SHINING 3D, TechMed 3D, Haydon Kerk, TU Delft, Tim van Broekhoven, the Danish Technological Institute, Untika, TU Delft, Carnegie Mellon University, Optomec, Ethereal Machines, Porimy, Innoviz, the Air Force Research Laboratory, REGEMAT 3D, Austrian Space Forum, Neri Oxman, Iris Van Herpen, Full-bodied 3D scanning As full-body 3D scanners featured several times at CES 2018, Artec… Continue reading 3D printing news Sliced Arcam, Optomec, TU Delft, Neri Oxman