Daimler has picked the head of its North American trucks division to run group-wide truck operations, it said on Monday, avoiding a lengthy search for a successor to departed chief Wolfgang Bernhard. Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016.
Category: Automakers
Francea s PSA wants to be a European car championa with Opel
The chairman of French carmaker PSA Group wants to create a “European car champion” with the potential purchase of General Motors’ European car business, and pledged to work with governments and unions worried over job cuts. After reporting a near-doubling in 2016 profits, Carlos Tavares lauded the benefits of a deal that could reshape the continent’s car market and see PSA, the maker of Peugeot and Citroen cars, leapfrog the Renault Nissan alliance to become Europe’s No.
How Ford made it work in Europe
If the world’s third-largest auto-maker fails to unload its Opel European division on PSA Group, it could look to its crosstown rival in Dearborn, Mich., for an example of how to right the ship. Ford Motor Co.
Vauxhall workforce highly valued, minister told at talks on French takeover plan
The owner of Peugeot said it could buy Vauxhall and Opel from General Motors in a deal that would transform Europe’s car market Vauxhall’s brand and “committed workforce” are highly valued, Business Secretary Greg Clark has been told during crunch talks in Paris over the future of thousands of British production jobs. The minister travelled to the French capital on Thursday to meet French industry minister Christophe Sirugue and board members of PSA Group, which is in talks to acquire General Motors’ loss-making European operation.
Vauxhall has plants in Ellesmere Port and Luton employing 4,500 staff
Business secretary Greg Clark will meet with Peugeot executives and the French government as he scrambles to secure thousands of British jobs at takeover target Vauxhall. The Press Association understands Mr Clark will travel by Eurostar to Paris tonight for separate meetings with French industry minister Christophe Sirugue and board members of PSA Group, which is in talks to acquire General Motors’ loss-making European operation.
BRIEF-Canaccord Genuity Group announced appointment of Michel Perera as Chief Investment Officer
* Says its buyout fund and partners has completed purchase of Netherland’s Nexperia for $2.75 billion via a consortium SEOUL, Feb 8 Hyundai Motor said on Wednesday it may procure electric vehicle batteries from Chinese companies for a planned China model after South Korean battery makers failed to make a list of approved vendors last year.
BRIEF-Xura to change company name to Mavenir Systems upon completion of Mitel Mobile acquisition
LONDON, Feb 8 European shares rose on Wednesday led by mining stocks and financials on a heavy day for regional corporate results.
BRIEF-Russia’s Detsky Mir says IPO raises 21.1 bln roubles
Source text for Eikon: Further company coverage: LONDON, Feb 8 European shares rose on Wednesday led by mining stocks and financials on a heavy day for regional corporate results.
Hyundai Motor’s donations spark doubt over transparency
Hyundai Motor Co., South Korea’s top automaker, didn’t report cash donations to two controversial foundations to its board two years ago, sources said Wednesday, sparking questions over managerial transparency. In October and December 2015, Hyundai Motor donated a combined 6.88 billion won to the foundations controlled by Choi Soon-sil, President Park Geun-hye’s friend at the center of a massive influence-peddling and corruption scandal that has led to Park’s impeachment.
Japan PM says meeting with Toyota president was decided months ago
Feb 2 Japanese Prime Minister Shinzo Abe said on Thursday that his plans to meet with Toyota Motor Corp Chief Executive Akio Toyoda on Friday were arranged months ago and he did not suddenly summon Toyoda in response to U.S. rhetoric on trade policy. Abe, speaking in the lower house budget committee, said he has no plans to give instructions to Toyoda, amid growing criticism from U.S. President Donald Trump about Japanese auto imports.
Fiat Chrysler: Trump proposals ‘positive’ if all implemented
In this file photo dated Monday, Jan. 9, 2017, Fiat Chrysler CEO Sergio Marchionne during a briefing at the North American International Auto show, in Detroit, USA. Marchionne said Thursday Jan. 26, 2017, in a conference call that discussions are “proceeding well” with U.S. environmental authorities over accusations that the company failed to disclose software that let vehicles emit more pollution than allowed.
Ford Cites ‘Market Forces’ in Shifting Investment From Mexico to US
The auto industry’s relationship with President-elect Donald Trump took a dramatic turn Tuesday as Ford Motor Co. decided to shift investment dollars targeted for Mexico to the U.S., while Trump threatened General Motors with a tax on some imported small cars.
Ford cancels plans for $1.6B Mexico plant to invest $700M in Flat Rock, create 700 jobs
Ford Motor Co. announced some major news the week leading into the North American International Auto Show Tuesday morning, Jan. 3 at its Flat Rock Assembly Plant.
Nusli Wadia files defamation suit against Tata Sons
Industrialist Nusli N Wadia has filed a criminal defamation case against Tata Sons, its interim chairman Ratan Tata and some directors for alleged “defamatory and offending” contents in a special resolution moved to seek his removal from three Tata Group firms. Wadia, who has been accused of siding with ousted Tata Group chairman Cyrus P Mistry, filed the defamation suit in the court of additional chief metropolitan magistrate in Mumbai.