CLOSE We sit down with Jim Hackett, Ford Motor Company’s new CEO, to talk about his new position and the company’s future. Kimberly P. Mitchell/Detroit Free Press Ford China CEO and chairman Jason Luo, who began his job just a few months ago, has resigned. (Photo: Key Safety Systems) Ford China CEO and chairman Jason… Continue reading Ford China CEO shocks investors with resignation; company officials focus on future
Tag: M and A
Group 1 Automotive Acquires Two Additional Dealerships in El Paso, Texas
HOUSTON, Jan. 29, 2018 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI), (“Group 1” or the “Company”), an international, Fortune 500 automotive retailer, today announced the expansion of its business presence in the El Paso, Texas market with the acquisition of two new dealerships. The dealerships are Audi El Paso and Subaru El Paso, and are expected to generate approximately… Continue reading Group 1 Automotive Acquires Two Additional Dealerships in El Paso, Texas
BMW takes full ownership of DriveNow’s car sharing service (updated)
BMW has been synonymous with DriveNow’s car sharing service for several years, and today it’s cementing that commitmen. The German auto brand has taken full ownership of DriveNow by acquiring Sixt’s stake in the company. This gives BMW “all options” for mobility services in the future — it’s free to take the tech-savvy rental platform… Continue reading BMW takes full ownership of DriveNow’s car sharing service (updated)
PROTON DEALERS SHOW CONFIDENCE IN THE FUTURE OF THE BRAND – MORE UPGRADING TO 3S AND 4S CENTRES
PRESS PROTON DEALERS SHOW CONFIDENCE IN THE FUTURE OF THE BRAND – MORE UPGRADING TO 3S AND 4S CENTRES Posted on Jan 25, 2018 Subang Jaya, 25 January 2018 – Raring to go, PROTON recently held its second batch of the Dealers Network Upgrade agreement signing ceremony, at the PROTON Centre of Excellence. The ceremony… Continue reading PROTON DEALERS SHOW CONFIDENCE IN THE FUTURE OF THE BRAND – MORE UPGRADING TO 3S AND 4S CENTRES
Adient’s Q1 results impacted by headwinds in Seat Structures & Mechanisms (SS&M) business
PLYMOUTH, Mich., Jan. 29, 2018 /PRNewswire/ — Adient (NYSE: ADNT), a global leader in automotive seating, today announced first quarter earnings. Q1 GAAP net income and EPS diluted of $(216) million and $(2.32), respectively; Q1 adjusted-EPS diluted of $1.06 Q1 Adjusted-EBIT of $163 million (margin of 3.9%) Cash and cash equivalents of $390 million at December… Continue reading Adient’s Q1 results impacted by headwinds in Seat Structures & Mechanisms (SS&M) business
At a glance: Electric initiative at Mercedes-Benz Cars
Video-Link: https://youtu.be/AiplVDi1_nM [embedded content] In 2017, Mercedes-Benz Cars set important strategic course for electromobility: Electric hubs for the production of electric vehicles and batteries are currently being built around the globe. By 2022, Daimler will electrify the entire portfolio of Mercedes-Benz, offering customers at least one electrified alternative in all Mercedes-model series. The company is… Continue reading At a glance: Electric initiative at Mercedes-Benz Cars
China Digest: Sequoia Capital backs LeapMotor, FinTell; Kingsoft Cloud raises $200m
January 29, 2018 Chinese startups LeapMotor and FinTell received fresh funds from Sequoia Capital China while Kingsoft Cloud secured $200 million Series D+ from FutureX Capital and Kingsoft Corporation. Sequoia Capital China backs fundraising in LeapMotor, FinTell Hangzhou-based Chinese electric vehicle startup Leapmotor has successfully completed its Pre-A funding round, raising $62 million from Sequoia… Continue reading China Digest: Sequoia Capital backs LeapMotor, FinTell; Kingsoft Cloud raises $200m
VW Customers Don’t Give a Monkeys about Diesel Cheating Animal Testing
A bizarre incident involving the testing of diesel exhaust fumes on a group of cartoon-watching monkeys, and possibly humans too, has catapulted the Volkswagen AG emissions scandal back onto newspaper front pages. But public outrage, though warranted, may well ring hollow this time. When Volkswagen admitted rigging about 11 million vehicle engines in 2015, I assumed the German… Continue reading VW Customers Don’t Give a Monkeys about Diesel Cheating Animal Testing
DriveNow becomes wholly-owned subsidiary of BMW Group
Munich. With the acquisition of Sixt SE’s stake in DriveNow, the BMW Group continues its systematic development as a customer-centric mobility company. Today’s signing is subject to approval by antitrust authorities. With this move, the world’s leading provider of premium mobility is offering customers efficient, sustainable mobility solutions from a single source. The rapidly growing… Continue reading DriveNow becomes wholly-owned subsidiary of BMW Group
LeddarTech Inc. and OPTIS Announce LiDAR Simulation Partnership
LeddarTech Inc. and OPTIS Announce LiDAR Simulation PartnershipPhillip Keane posted on January 27, 2018 | 857 views Virtual prototyping company OPTIS has announced a partnership with LeddarTech Inc., the developer and owner of Leddar, a patented digital signal processing technology used in automotive solid-state LiDARs. The partnership will see the development of LiDAR simulation software geared… Continue reading LeddarTech Inc. and OPTIS Announce LiDAR Simulation Partnership