Tag: M and A

Tesla founder launches new electric car battery startup and there’s a twist – Electrek

Tesla’s original co-founder, Martin Eberhard, is launching yet another electric vehicle battery startup and it appears to be extremely similar to its previous startup, which was recently acquired by SF Motors to help them make their own electric cars. If you are not familiar with Eberhard, he founded Tesla in 2003 with his friend and… Continue reading Tesla founder launches new electric car battery startup and there’s a twist – Electrek

FCA, Renault face tall odds delivering on cost-cutting promises in merger

FRANKFURT/DETROIT (Reuters) – Fiat Chrysler Automobiles NV and Renault SA promise huge savings from a mega-merger, but such combinations face tall odds because of the industry’s long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S.… Continue reading FCA, Renault face tall odds delivering on cost-cutting promises in merger

Auto supplier Cooper-Standard not interested in bidding for Turkey’s Teklas-CEO

DETROIT (Reuters) – U.S. auto parts supplier Cooper-Standard Holdings Inc is not interested in buying Turkey’s Teklas Kaucuk, which supplies such carmakers as General Motors and BMW, Cooper-Standard’s top executive said on Wednesday. Cooper-Standard, based outside Detroit, is not interested in expanding in Europe given that region’s uncertainties at the moment, Chairman and Chief executive… Continue reading Auto supplier Cooper-Standard not interested in bidding for Turkey’s Teklas-CEO

UPDATE 2-NXP to buy Marvell’s WiFi, Bluetooth business for $1.76 bln

(Reuters) – Dutch chipmaker NXP Semiconductors NV said on Wednesday it will buy Marvell Technology Group Ltd’s wireless connectivity business for $1.76 billion in cash to offer its customers a bigger product portfolio. FILE PHOTO: People look over a display in the NXP booth during the 2019 CES in Las Vegas, Nevada, U.S. January 8,… Continue reading UPDATE 2-NXP to buy Marvell’s WiFi, Bluetooth business for $1.76 bln

German online classifieds firm Scout24 eyes Ebay parts – CEO

MUNICH, May 29 (Reuters) – Scout24 is interested in acquiring certain parts of Ebay’s classifieds business, Chief Executive Tobias Hartmann said, adding that he was interested in Ebay’s car and real estate classifieds operations. “We are operating in a market where acquisition opportunities are rare. But we will focus on markets and countries where we… Continue reading German online classifieds firm Scout24 eyes Ebay parts – CEO

Daimler Trucks establishes global organization for highly automated driving

Daimler Trucks brings together global expertise and activities for trucks with automated driving in the Autonomous Technology Group, effective June 1, 2019 Peter Vaughan Schmidt to head the Autonomous Technology Group New unit to implement Daimler Trucks’ effort to put highly automated trucks (SAE level 4) onto the roads within a decade, investing more than… Continue reading Daimler Trucks establishes global organization for highly automated driving

Nissan tells Renault ‘not opposed’ to Fiat Chrysler merger plan -Nikkei

TOKYO (Reuters) – Nissan on Wednesday told Renault it wasn’t opposed to its partner’s potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry. FILE PHOTO: The logos of car manufacturers Renault and… Continue reading Nissan tells Renault ‘not opposed’ to Fiat Chrysler merger plan -Nikkei

China’s used car marketplace Uxin to raise $230M via convertible notes

Uxin, a Chinese second-hand car dealer with Leonardo DiCaprio as its latest brand ambassador, is tipped to get a bag of new funding less than a year after it raised $225 million from its public offering on the Nasdaq. The company announced on Wednesday that it’s selling $230 million worth of convertible notes to 58.com —… Continue reading China’s used car marketplace Uxin to raise $230M via convertible notes