Urban Mobility
A new Bloomberg report suggests Samsung is in talks with Fiat Chrysler to acquire some or all of parts-making subsidiary Magneti Marelli, which provides lighting, in-car entertainment and telematics to OEMs for use in their vehicles. The deal, which could be worth $3 billion according to Bloomberg’s sources, would help accelerate Samsung’s existing efforts to become a more important part
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South Korea today suspended sales of most Volkswagen AG models in a fresh blow to the German automaker as it struggles to overcome the global repercussions of its emissions-test cheating scandal and rebuild its tattered image. The government revoked certification for 80 model variants of VW, Audi and Bentley vehicles, and fined Volkswagen 17.8 billion won ($16.06 million) for allegedly
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Toyota Motor Thailand sees green shoots for the domestic market, although improvements aren’t likely to be seen before 2017. After a flat first half of the year, the automaker, which dominates the Thai landscape with an almost one-third market share, projects full-year industry sales to come in at around 740,000 vehicles, 7.5% down from last year. Toyota Motor Thailand President
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Ferrari Tuesday said profit jumped by almost a third in the second quarter as the Italian luxury sports-car manufacturer sold more vehicles and paid a lower tax rate. Net profit rose to €97 million ($108 million) in the three months to the end of June from €76 million in the same period last year. Revenue climbed 6% to €811 million
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BMW AG beat market expectations with an 11% rise in second-quarter net profit, helped by robust sales of the luxury auto maker’s three car brands, including a jump in demand for Rolls-Royce limousines. The Munich-based manufacturer said on Tuesday that net profit rose to €1.94 billion ($2.2 billion) in the three months to end-June from €1.74 billion a year earlier,
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The next generation of the Mercedes-Benz C class is likely to shed weight as Mercedes adds more aluminum and uses advanced new joining processes installed into its U.S. manufacturing plant. Details are sketchy, but in a presentation at the Center for Automotive Research’s Management Briefing Seminars here Monday, Mercedes-Benz U.S. International CEO Jason Hoff dropped some hints that the next
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Geely Automobile Holdings has contracted to sell its stakes in two small, unprofitable electric vehicle subsidiaries to its parent, Zhejiang Geely Holding Group Co. The move is part of a plan to “consolidate and enhance its product portfolio and thus brand image by focusing on relatively higher-end automobiles going forward,” Geely said in a statement last week. Geely holds a
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Tesla Motors Inc. on Monday said it had reached a deal to buy SolarCity Corp. The all-stock deal values SolarCity at about $2.6 billion, with SolarCity stockholders receiving 0.11 share of Tesla for each share of SolarCity, valuing them at $25.83 apiece, according to Friday’s closing prices. If it is approved by shareholders, the deal would double Tesla’s workforce to
Read moreHyundai Indonesia is in talks with its South Korean principal to obtain more completely knocked down (CKD) projects, an executive has said. The company has an assembly plant in Pondok Ungu, Bekasi, West Java, to assemble big, H-1 multipurpose vehicles (MPVs) with 43 percent local content. Hyundai Indonesia exports 250 units per month to Thailand. “We are in discussions with
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The German car-booking service Blacklane has raised its largest-yet financing round, in an eight-figure Series C round. What’s particularly interesting about this round is that it was led by existing investor Daimler, which wants Blacklane to expand its global business. Daimler (or more specifically its Daimler Financial Services business) is very active on the mobility services front at the moment.
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