Audi and First Automotive Works (FAW) are celebrating the 30th anniversary of their partnership this Monday. The approximately 650 guests at the anniversary event at the FAW plant in Changchun include representatives of the province of Jilin, of partner FAW, and of the FAW-Volkswagen joint venture, as well as members of the boards of management… Continue reading 30 years of partnership in China: Audi and FAW start a model initiative
Tag: M and A
Volkswagen Brand reaches milestone of 30 million deliveries in China
Volkswagen Brand sets record in China, with 30 millionth delivery this November – a Touareg Stephan Wöllenstein: “This is a unique occasion, and a unique vote of confidence from all our Chinese customers over the years.” Volkswagen’s product offensive to continue with introduction of 5 new models in 2019 alone; NEV offering to double Volkswagen… Continue reading Volkswagen Brand reaches milestone of 30 million deliveries in China
Lotus Cars dealer acquires Proteus Sports & Racing Cars
Lotus Cars franchisee Hoffmann’s of Henley has acquired Jaguar C-Type sports car builder Proteus Sports & Racing Cars. The retailer, based on Newton Road, Henley-on-Thames is well-known for operating a classic car maintenance, restoration and sales business alongside its Lotus Cars new car showroom but has now added the small-scale manufacturing business to its portfolio.… Continue reading Lotus Cars dealer acquires Proteus Sports & Racing Cars
VW-backed ride-hailing app Gett seeks buyers to compete with bigger rivals
November 19, 2018 Gett Inc., the ride-hailing app valued at more than $1 billion and backed by Volkswagen AG, is looking for buyers in a bid to compete with larger rivals, people familiar with the matter said. The Israeli tech company has approached potential bidders including other car-hire firms, the people said, asking not to… Continue reading VW-backed ride-hailing app Gett seeks buyers to compete with bigger rivals
Volkswagen is investing in the future
The Volkswagen Group is investing heavily in its future. Over the coming five years to the end of 2023, the Company will be spending almost €44 billion alone on the future issues of e-mobility, autonomous driving, new mobility services and digitalization in its vehicles and at its plants. This represents approximately one-third of total expenditure… Continue reading Volkswagen is investing in the future
BlackBerry is buying AI-powered security company Cylance for $1.4bn
BlackBerry is buying security company Cylance for $1.4bn, its largest acquisition to date Cylance uses artificial intelligence and machine learning to predict and prevent security threats to fixed endpoints by creating a lightweight software agent that sits on the device and can operate both online and offline. The company says its software requires a minimum… Continue reading BlackBerry is buying AI-powered security company Cylance for $1.4bn
PSA may still close a UK Vauxhall factory post-Brexit
Previously, PSA Group CEO Carlos Tavarez stated that the Ellesmere Port plant must close the cost and quality gap between it and its European equivalents if it’s to survive. Speaking at the 2018 Geneva motor show, Tavares highlighted that the PSA Group’s plants, including those that came as part of the Opel and Vauxhall acquisition, will all have… Continue reading PSA may still close a UK Vauxhall factory post-Brexit
Tesla acquires trucking companies to squeeze in more deliveries before Dec. 31
Tesla CEO Elon Musk tweeted Thursday that the electric automaker had “acquired trucking capacity,” a move aimed to boost deliveries of its Model 3 vehicles before the federal tax credit begins to wind down December 31. Musk at first didn’t explain what “acquired trucking capacity” meant. The company hasn’t posted any regulatory filings of an… Continue reading Tesla acquires trucking companies to squeeze in more deliveries before Dec. 31
Uber loss tops $1bn ahead of planned IPO
Uber posted a loss of $1.07bn (£821m) in the three months to September, as the ride-sharing firm prepares for a public stock offering next year. The US company’s net losses widened sharply on a quarterly basis as revenues rose only slightly. Uber was recently valued at $72bn, making it one of the most valuable privately… Continue reading Uber loss tops $1bn ahead of planned IPO
Groupe Renault acquires start-up Carizy, specialized in services of used-vehicle sales between private individuals
• Groupe Renault announces the acquisition of Carizy, a French start-up specialized in intermediation between private individuals in used-vehicle sales.• The acquisition is part of Groupe Renault’s strategy to establish itself in this growing, high-potential market. Boulogne-Billancourt, November 15, 2018 – Groupe Renault is announcing the acquisition of CARIZY, a service company specialized in intermediation between… Continue reading Groupe Renault acquires start-up Carizy, specialized in services of used-vehicle sales between private individuals