Business

Daimler, Geely Launch Mobility Services Venture in China

May 21, 2019 at 1:26 PM

Daimler AG and Zhejiang Geely Holding Group have formed a new company to sell mobility services in China.

Brose Plans $335 Million Expansion in China

May 21, 2019 at 11:39 AM

Brose Group says it will spend €300 million in China on products and equipment over the next three years.

Report: Daimler Targets 20% Cut in Administrative Costs

May 20, 2019 at 4:01 PM

Ola Kallenius, who will take over as CEO of Daimler AG on May 22 when Dieter Zetsche retires, aims to slash the company’s central administrative costs by 20%, sources tell Handelsblatt.

Ford Will Have Shed 7,000 Salaried Jobs by August

May 20, 2019 at 12:16 PM

Ford Motor Co. will cut its worldwide white-collar staff by 7,000 people, or about 10%, by August, The Detroit News reports, citing an internal memo.

Bentley Celebrates 100th Anniversary with Pricey Tome

May 17, 2019 at 2:17 PM

Volkswagen AG’s Bentley unit is celebrating its 100th anniversary with a massive book that chronicle’s the ultra-luxury marque’s history and offers a peek of the future.

 

Hyundai Tests Vehicle Subscriptions, Ride-Sharing

May 17, 2019 at 9:49 AM

Hyundai Motor Co. is evaluating subscription plans and other alternatives to traditional vehicle ownership models in the U.S.

Tesla Launches New Round of Cost Cuts

May 17, 2019 at 1:47 AM

Tesla Inc. CEO Elon Musk told employees yesterday that the company will conduct a new review of its expenses in a bid to further cut costs.

J.D. Power Partners with U.K. Consumer Review Specialist

May 16, 2019 at 9:34 AM

Market research giant J.D. Power is teaming with London-based Reevoo Ltd. to launch an automotive customer review portal for cars, brands, dealerships and services.

Nissan Board Confirms Saikawa Will Continue as CEO

May 16, 2019 at 9:29 AM

Nissan Motor Co.’s board has approved a roster of directors that will retain embattled CEO Hiroto Saikawa, The Nikkei reports.

Report: Nissan Ponders a Stake in Chinese EV Startup

May 14, 2019 at 1:47 PM

Nissan Motor Co. is mulling a plan to make a major investment in a Chinese electric car startup, sources tell Bloomberg News.

Rimac Lands $90 Million from Hyundai/Kia

May 14, 2019 at 10:21 AM

Hyundai Motor Co. and its Kia Motors Corp. affiliate are investing a combined €80 million ($90 million) in Croatian electric vehicle specialist Rimac Automobili.

Report: Ford May Cut 550 Jobs in U.K.

May 13, 2019 at 1:35 PM

Ford Motor Co. may eliminate as many as 550 jobs in the U.K. as part of a broader restructuring plan for the carmaker’s European operations, according to Bloomberg News.