Tag: M and A

Hyundai Motor Group Partners with Rimac to Accelerate Development of High-Performance EVs

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Hyundai Motor Group to invest EUR 80 million in Rimac AutomobiliHyundai Motor to invest EUR 64 million; Kia Motors to invest EUR 16 millionCompanies to collaborate on high-performance EV and FCEV prototypes by 2020New partnership to enhance Group’s status as game changer in Clean MobilityHyundai Motor Group and Rimac Automobili (Rimac) have announced a strategic partnership aimed to strengthen the Group’s efforts to lead the high-performance electrified vehicle market and enhance its status as a game changer in Clean Mobility.
Under the new partnership, Hyundai Motor Company and Kia Motors Corporation will each invest EUR 64 million and EUR 16 million, respectively, for a total combined investment of EUR 80 million in Rimac. The companies will work closely together to develop prototypes for an electric version of Hyundai Motor’s N brand midship sports concept car and a high-performance fuel cell electric vehicle with the intent to bring them t..

Fujitsu and Autonomic collaborate to bring advanced mobility services to global automakers

Fujitsu and Autonomic, a wholly owned subsidiary of Ford Smart Mobility, announced a joint collaboration to offer OEMs worldwide a fast and flexible solution to support the automotive industry’s transformation to mobility-as-a-service models. Leveraging Autonomic’s experience in cloud services for connected vehicles and Fujitsu’s capabilities in technology integration and experience in the automotive space, the companies will… Continue reading Fujitsu and Autonomic collaborate to bring advanced mobility services to global automakers

UPDATE 3-Nissan set for weakest profit in 11 years as Ghosn woes, bleak sales weigh

YOKOHAMA (Reuters) – Nissan Motor Co forecast a 28% plunge in its annual operating profit, putting it on course for the weakest earnings in 11 years and underscoring its struggle to turn the page after former Chairman Carlos Ghosn was ousted. Nissan CEO Hiroto Saikawa attends a news conference in Yokohama, Japan, May 14, 2019.… Continue reading UPDATE 3-Nissan set for weakest profit in 11 years as Ghosn woes, bleak sales weigh

5G news: Vodafone claims its UK 5G network will be switched on in July

Vodafone has announced today that its UK 5G network will go live in July. The network will cover customers in seven cities across the UK and will be switched-on on 3rd July.  The cities to be covered will be London, Birmingham, Bristol, Cardiff, Glasgow, Liverpool and Manchester. Twelve more towns and cities will be covered… Continue reading 5G news: Vodafone claims its UK 5G network will be switched on in July

Nissan flags weakest profit in 11 years, Ghosn woes, bleak sales weigh

YOKOHAMA (Reuters) – Nissan Motor Co forecast a 28% plunge in its annual operating profit, setting it up for the weakest earnings in 11 years and underscoring its struggle to turn the page after the ouster of former Chairman Carlos Ghosn. Nissan CEO Hiroto Saikawa attends a news conference in Yokohama, Japan, May 14, 2019.… Continue reading Nissan flags weakest profit in 11 years, Ghosn woes, bleak sales weigh

India’s used-car portal Cars24 eyes up to $80m in fresh equity financing

Cars24, an online marketplace for buying and selling used cars, is in the process of raising up to $80 million in a fresh equity round of financing as it eyes pan-India expansion. While existing backers including venture capital firm Sequoia Capital, Cayman Islands-based Kingsway FCI Fund and Toronto-based KCK Global are likely to put in… Continue reading India’s used-car portal Cars24 eyes up to $80m in fresh equity financing

Japan’s Nissan is said to mull buying stake in Chinese electric carmaker

Nissan Motor Co. is looking to invest in a Chinese electric-car startup, according to people familiar with the matter, to provide it with a greater footprint in the world’s biggest market for new-energy vehicles. The Japanese company wants to buy a stake of as much as 25% in a Chinese electric-vehicle maker, and it has… Continue reading Japan’s Nissan is said to mull buying stake in Chinese electric carmaker

VW shares up 2.7% in early trade on truck listing plans

FRANKFURT (Reuters) – Volkswagen shares were up 2.7% in early trade on Tuesday after the multi-brand carmaking group said it would press ahead with a listing of its trucks unit Traton in what could be Germany’s biggest share offering this year. FILE PHOTO: Visitors stand at the booth of Volkswagen’s truck unit Traton Group, former… Continue reading VW shares up 2.7% in early trade on truck listing plans

Press: ZF to Acquire Software Specialist for Occupant Recognition

ZF plans to acquire 90 percent of Simi Reality Motion Systems Specialist for image-based 3D systems for recording and analysis of human movement Over 25 years of experience in high-performance sports and medicine Occupant recognition is a key enabler for integrated safety and autonomous driving Friedrichshafen/Unterschleißheim (Germany). ZF plans to expand its network of cooperations… Continue reading Press: ZF to Acquire Software Specialist for Occupant Recognition