Tag: M and A

Gates Group buys four TrustFord dealerships

Gates Group has acquired four car dealerships in London from TrustFord for an undisclosed sum. The dealerships in Woodford Green, Walthamstow, Enfield and Potters Bar join Gates’ existing dealerships in Bishop’s Stortford, Hertford, Epping and FordStores in Stevenage, St Albans and Harlow. Gates is rated 89 in the Motor Trader Top 200 with annual turnover… Continue reading Gates Group buys four TrustFord dealerships

Volvo and NTU to Trial Autonomous Electric Buses in Singapore

GOTHENBURG, Sweden, January 11, 2018 /PRNewswire/ — Volvo Buses and Nanyang Technological University (NTU) in Singapore have signed a cooperation agreement on a research and development program for autonomous electric buses. The program is part of the Land Transport Authority of Singapore’s drive to create new solutions for tomorrow’s sustainable public transport. Volvo and NTU… Continue reading Volvo and NTU to Trial Autonomous Electric Buses in Singapore

Singapore’s BM Mobility offers to buy Malaysia’s electric car-sharing firm UNiRIDE

January 11, 2018 BM Mobility Ltd, a Singapore-listed investment holding firm, said Thursday that it has offered to acquire Malaysian electric car- sharing firm UNiRide Ecotour Sdn Bhd (UNiRIDE), for RM850,000 ($212,944). UNiRIDE, founded in 2015, is currently 75%-owned by Wanted Marketing Communications Sdn Bhd, an authorized sales agent for electric bike manufacturer Treeletrik Sdn… Continue reading Singapore’s BM Mobility offers to buy Malaysia’s electric car-sharing firm UNiRIDE

UPDATE 1-Hyundai invests in Grab to gain ‘foothold’ in Southeast Asia ride-hailing market

SEOUL (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) said on Thursday it had invested in Southeast Asian ride-hailing firm Grab, as it seeks to expand into the region to reduce its reliance on China following a damaging diplomatic row between Seoul and Beijing. Hyundai’s first direct investment in a ride-hailing firm gives it a… Continue reading UPDATE 1-Hyundai invests in Grab to gain ‘foothold’ in Southeast Asia ride-hailing market

Uber rival Taxify expands into Lisbon while eyeing fresh funding

FRANKFURT (Reuters) – Taxify, Uber’s upstart European-based rival, is looking to expand during the coming year outside of the biggest cities in the more than 20 countries where it now operates into secondary markets, Chief Executive Markus Villig said on Thursday. The Estonia-based taxi-hailing platform active in Central and Eastern Europe and Africa, has taken… Continue reading Uber rival Taxify expands into Lisbon while eyeing fresh funding

We’re growing our relationship with Baidu to create indoor maps

We’re proud to announce that we will broaden our collaboration with the Chinese firm Baidu to power Baidu Maps’ indoor map data for locations outside of China. We at HERE are excited to be building and expanding our successful business relationship with Baidu. For the last three years, we’ve been powering the street and satellite… Continue reading We’re growing our relationship with Baidu to create indoor maps

Hyundai Motor and Grab Sign Strategic Partnership to Expand Mobility Service

SEOUL, South Korea and SINGAPORE, Jan. 10, 2018 /PRNewswire/ — Hyundai Motor Company, South Korea’s largest automaker, and Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today announced a strategic partnership that will expand Hyundai’s innovative future mobility services in Southeast Asia. The strategic partnership will help Hyundai explore new opportunities in the… Continue reading Hyundai Motor and Grab Sign Strategic Partnership to Expand Mobility Service

Kia Spain chooses Cetelem as its financier

Kia Motors Iberia reported today that it has reached an agreement with Cetelem Spain, a subsidiary of BNP Paribas, so that it will be in charge of financing the sale of its vehicles in the next three years (starting in 2018). Kia Motors Iberia has a network of eighty-one dealers in Spain. On January 4,… Continue reading Kia Spain chooses Cetelem as its financier

Mazda, Toyota select Alabama for new U.S. auto manufacturing plant

2018/01/11 Company Information Investment to reach $1.6 billion for facility that will employ up to 4,000, open in 2021 Montgomery, Alabama (January 10, 2018) – Alabama Governor Kay Ivey and Huntsville Mayor Tommy Battle joined Mazda (MZDAF) and Toyota (NYSE: TM) leaders today to announce the automakers have selected Huntsville, Alabama as the site of… Continue reading Mazda, Toyota select Alabama for new U.S. auto manufacturing plant