Business

New Porsche 911 Is Tops in Model Profitability

September 13, 2019 at 9:47 AM

Porsche AG’s redesigned 911 sports car contributes 29% of the company's profits, the industry's highest margin for any new model launched in 2019.

Ford Sells Subscription Vehicle Business

September 12, 2019 at 1:05 PM

Ford Motor Co. is selling its Canvas subscription vehicle platform to Fair, a Santa Monica, Calif.-based startup that also specializes in subscription services.

Three Candidates in Quest for New Nissan CEO?

September 12, 2019 at 9:49 AM

Three prospects currently lead the list of candidates to take over as CEO of Nissan Motor Co., multiple sources tell Reuters.

ZF Plans to Divest 20% Stake in Haldex

September 12, 2019 at 8:57 AM

ZF Friedrichshafen AG says it is evaluating options to sell its 20% stake Haldex AB, the Swedish brake specialist it unsuccessfully tried to acquire in 2016.

Uber Cuts 8% of Product and Engineering Teams

September 11, 2019 at 5:34 PM

Uber Technologies Inc. has laid off 435 employees across its product and engineering teams, representing about 8% of the combined organizations.

Audi Simplifies Lineup

September 11, 2019 at 9:40 AM

Audi AG has trimmed the number of vehicle variants it offers by 27% over the last year and plans to eventually cut such options by as much as 45%.

Renault CEO: No Plans to Revisit FCA Merger Offer

September 11, 2019 at 4:33 AM

Renault CEO Thierry Bollore says an offer by Fiat Chrysler Automobiles NV to merge is “no longer on the table” after FCA withdrew the $35 billion deal.

Daimler to Buy Battery Cells From Farasis Energy

September 11, 2019 at 12:14 AM

Daimler AG says it has agreed to add China’s Farasis Energy (Ganzhou) Co. Ltd. to the list of companies supplying battery cells for its electric cars.

Rivian Lands $350 Million from Cox Automotive

September 10, 2019 at 11:47 AM

Cox Automotive Inc. is investing $350 million in Plymouth, Mich.-based electric truck startup Rivian Automotive LLC.

Hyosung to Invest $840 Million in Carbon Fiber Unit

September 09, 2019 at 9:50 AM

South Korea’s Hyosung Corp. plans to invest 1 trillion won ($840 million) in its carbon fiber business by 2028.

Porsche Ups Stake in Rimac

September 06, 2019 at 2:20 PM

Porsche AG, which acquired a 10% stake in Rimac Automobili in June 2018, has increased its ownership to 15.5%.

Porsche in Talks with CATL on EV Batteries

September 06, 2019 at 7:49 AM

Volkswagen AG’s Porsche unit has met several times with Contemporary Amperex Technology Ltd. about the Chinese company supplying lithium-ion batteries for future electric vehicles.