Tag: M and A

Continental Makes a Solid Start to the Business Year

Market continues downward trend in first three months as expected Thanks to strong market position: sales in first quarter on par with prior-year level at €11.0 billion Adjusted EBIT at €884 million (margin: 8.1 percent) Technology company continues to expect market upturn in second half of the year and thus maintains its annual guidance Free… Continue reading Continental Makes a Solid Start to the Business Year

Toyota, Panasonic to set up company for ‘connected’ homes

FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File Photo TOKYO (Reuters) – Japan’s Toyota Motor Corp and Panasonic Corp said they plan to establish a joint company to develop “connected” services to be used in homes and urban development. The tie-up… Continue reading Toyota, Panasonic to set up company for ‘connected’ homes

Volvo’s Polestar 2 with Android Automotive is how all car software should be designed

The native Android Auto saga has a long and winding road, but we’re finally approaching the finish line. Google’s custom-built software for automobiles, now called Android Automotive OS and not to be confused with standard Android Auto mirrored from your smartphone, was first announced a couple of years back as a kind of compromise with… Continue reading Volvo’s Polestar 2 with Android Automotive is how all car software should be designed

GM in talks to sell shuttered Lordstown factory to Workhorse for EV pickups

General Motors is in talks to sell its Lordstown vehicle factory in Ohio to Workhorse Group, a battery-electric transportation technology company, to produce EV pickup trucks. It’s a development that could produce a positive outcome for Workhorse, GM and the laid-off workers at the Lordstown factory that stopped producing the automaker’s Chevrolet Cruze in March.… Continue reading GM in talks to sell shuttered Lordstown factory to Workhorse for EV pickups

GM is trying to sell a closed factory to troubled EV startup Workhorse

General Motors is in talks to sell one of the North American factories it recently closed. The potential buyer? Workhorse Group, an Ohio-based EV startup that has spent the last few years struggling to bring an all-electric pickup truck to market. The deal was prematurely announced by President Donald Trump in a tweet Wednesday morning.… Continue reading GM is trying to sell a closed factory to troubled EV startup Workhorse

GM in Discussions with Cincinnati-Based Workhorse Group to Sell its Lordstown, Ohio, Complex

DETROIT, May 8, 2019 /PRNewswire/ — General Motors Co. (NYSE: GM) said today it is in discussions with Workhorse Group Inc. (NASDAQ: WKHS) and an affiliated, newly formed entity to sell the company’s Lordstown Complex in Lordstown, Ohio. The move has the potential to bring significant production and electric vehicle assembly jobs to the plant. Upon… Continue reading GM in Discussions with Cincinnati-Based Workhorse Group to Sell its Lordstown, Ohio, Complex

GM Announces New Manufacturing Jobs Coming to Ohio

DETROIT, May 8, 2019 /PRNewswire/ — General Motors Co. (NYSE: GM) announced today that it is creating more than 450 manufacturing jobs in three Ohio cities. GM also said it is in discussions with an Ohio-based company that could bring significant production and electric vehicle assembly jobs to the Lordstown Complex. “The U.S. economy and our… Continue reading GM Announces New Manufacturing Jobs Coming to Ohio

Automotive Holdings backs AP Eagers’ sweetened $586 mln offer

New vehicle sales in Australia fell by about 8.9 percent in April from a year earlier, according to the Federal Chamber of Automotive Industries. Australian listed car dealer Automotive Holdings Ltd recommended a takeover proposal from larger rival AP Eagers on Wednesday after the suitor raised its indicative offer to A$836 million ($586.2 million). AP… Continue reading Automotive Holdings backs AP Eagers’ sweetened $586 mln offer