Tag: M and A

Workhorse Group Forms Alliance with Duke Energy

Workhorse Group Forms Alliance with Duke Energy to Support Faster Adoption and Scaling of Fleet Electrification Alliance Focuses on Electric Vehicle (EV) Infrastructure, Depot-Centric Energy Management Services and Battery Management CINCINNATI, April 4, 2019 /PRNewswire/ — Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse”), an American technology company focused on providing sustainable and cost-effective electric-mobility solutions to… Continue reading Workhorse Group Forms Alliance with Duke Energy

Volkswagen Group Secures Lithium Battery Supplies In China

3 H BY MARK KANE Volkswagen has already decided where to buy the lightest metal Volkswagen Group announced a new memorandum of understanding for long-term lithium supplies for battery cells with Ganfeng Lithium Co., Ltd. registered in Jiangxi (China). The agreement covers supply of lithium to VW and battery manufacturer selected by VW over the next… Continue reading Volkswagen Group Secures Lithium Battery Supplies In China

Fiat Chrysler to pay $110 million to settle U.S. investor suit

FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S., May 25, 2018. REUTERS/Rebecca Cook/File Photo (Reuters) – Italian-American automaker Fiat Chrysler Automobiles NV has agreed to pay $110 million to settle a lawsuit alleging it misled U.S. investors over excess diesel emissions and failed to… Continue reading Fiat Chrysler to pay $110 million to settle U.S. investor suit

LG Chem Sets Up Battery Joint Venture In Vietnam With VinFast

57 M BY MARK KANE LG Chem to supply Vietnam’s wannabe EV makers with batteries Vietnam’s largest conglomerate Vingroup JSC is moving forward with its plans to become the country’s first domestic car manufacturer (and manufacturer of electric cars). Vingroup’s VinFast just set a joint venture with LG Chem in the northern port city of Hai… Continue reading LG Chem Sets Up Battery Joint Venture In Vietnam With VinFast

Hyundai Motor launches CRADLE Berlin, European Innovation Hub to lead future technology advancements

Hyundai Motor Company has officially opened its Hyundai CRADLE Berlin office in Germany establishing its third CRADLE office worldwide, with additional bases in Silicon Valley (USA) and Tel Aviv (Israel). Hyundai CRADLE is Hyundai Motor Group’s corporate venturing and open innovation business, which partners and invests extensively in promising global startups to accelerate the development… Continue reading Hyundai Motor launches CRADLE Berlin, European Innovation Hub to lead future technology advancements

Chapelhouse acquires three dealerships from Bolton Car Company

Chapelhouse Motor Group has completed the acquisition of three motor retail sites from Bolton Car Company for an undisclosed sum. Taking its number of sites to nine, £58.7 million (2018) turnover Chapelhouse has taken on BCC’s Suzuki franchises in Bolton and Blackburn and its Citroen franchise in Wigan. Chapelhouse Group operations director, Chris Layton, said:… Continue reading Chapelhouse acquires three dealerships from Bolton Car Company

Notice on Dismissal of Lawsuit Against Nidec

FOR IMMEDIATE RELEASE

Nidec Corporation

Tokyo Stock Exchange code: 6594

Contact:

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Released on April 1, 2019, in Kyoto, Japan

Notice on Dismissal of Lawsuit Against Nidec

As announced on March 12, 2019 in the “Notice on Lawsuit Filed Against Nidec”, Whirlpool Corporation (“Whirlpool”) commenced a lawsuit in the United States District Court for the Southern District of New York (the “Court”) against Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec”), alleging that Nidec is in breach of its obligations contemplated by the Share Purchase Agreement (the ”SPA”) whereby Nidec agreed to acquire their compressor business from Whirlpool.

We would like to inform that the Court spontaneously dismissed the litigation without prejudice on March 27, 2019. Nidec remains focused on obtaining the approval of relevant antitrust authorities and to complete the transaction with Whirlpool as per the SPA.

PSA Group boss ‘open’ to Jaguar Land Rover acquisition – Autocar

PSA Group boss Carlos Tavares says that he would consider a merger or acquisition with Jaguar Land Rover – as long as it wouldn’t distract from the French firm. Tavares has been open about looking to expand PSA – which currently comprises Citroën, DS, Peugeot and Vauxhall/Opel – through acquisitions or partnerships with other car firms.… Continue reading PSA Group boss ‘open’ to Jaguar Land Rover acquisition – Autocar

Nissan considering claiming damages against Ghosn, CEO says

FILE PHOTO: Former Nissan Motor Chairman Carlos Ghosn sits inside a car as he leaves his lawyer’s office after being released on bail from Tokyo Detention House, in Tokyo, Japan, March 6, 2019. REUTERS/Issei Kato/File Photo TOKYO (Reuters) – Nissan Motor Co is considering claiming damages against ousted boss Carlos Ghosn over alleged financial misconduct,… Continue reading Nissan considering claiming damages against Ghosn, CEO says