Business

China May Allow Private Investment in State-Owned Carmakers

May 25, 2018 at 9:10 AM

China is reviewing a plan that would encourage state-controlled carmakers to pursue private vehicle manufacturers as investors, sources tell Bloomberg News.

Michigan EV Startup Raises $200 Million

May 24, 2018 at 9:05 AM

Rivian Automotive LLC, a Plymouth, Mich.-based electric vehicle startup, says it has secured $200 million of debt financing from U.K.-based Standard Chartered Bank.

VW, Apple Partner on Autonomous Vehicle Project

May 24, 2018 at 12:16 AM

Apple Inc. has signed a deal with Volkswagen AG to convert VW T6 Transporter vans into self-driving electric shuttles, The New York Times reports.

Ghosn: No Renault-Nissan Merger Until 2020 or Later

May 23, 2018 at 2:30 PM

Carlos Ghosn, who chairs Renault SA and Nissan Motor Co., tells a Bloomberg event in Paris that merging the two companies won’t happen until after 2019, if at all.

Carmakers Balk at S. Africa’s Ambitious Expansion Goals

May 22, 2018 at 2:30 PM

South Africa wants local carmaking operations to more than double annual output and employment by 2035.

Indian Supplier Takes Control of Dutch Electric Drivetrain Maker

May 22, 2018 at 7:32 AM

India’s Precision Camshafts Ltd. (PCL) has acquired a 51% stake in Emoss Mobile Systems BV, a Dutch maker of electric driveline systems for commercial vehicles.

Tesla Stockholders Urged to Install Independent Chairman

May 21, 2018 at 3:48 PM

Tesla Inc. should replace two of its board members and relieve CEO Elon Musk of his duties as chairman, proxy advisory giant Institutional Shareholder Service suggests.

China’s GAC Targets International Growth

May 21, 2018 at 10:51 AM

China’s Guangzhou Automobile Group Co. (GAC) is creating two new units to manage and grow its overseas business.

Hyundai Drops $8.8 Billion Restructuring Plan

May 21, 2018 at 9:32 AM

Hyundai Motor Corp. has dropped a proposed $8.8 billion merger involving two of its affiliates because of opposition by activist hedge fund Elliott Management Corp.

Tianqi Buys 24% Stake in Rival Lithium Producer SQM

May 18, 2018 at 11:10 AM

China’s Tianqi Lithium Corp. has agreed to purchase 24% of Chilean lithium producer Sociedad Química y Minera de Chile SA for nearly $4.1 billion.

Report: FCA Will Drop Small-Car Production in Italy

May 18, 2018 at 9:00 AM

Fiat Chrysler Automobiles NV reportedly plans to phase out Italian production of its low-priced Mito and Punto models in a move to shift its product mix upmarket.

Hyundai Board Pleas for Shareholder Support in Proxy Fight

May 17, 2018 at 12:52 PM

Hyundai Motor Co. CEO Lee Won-hee is urging shareholders to accept an $8.8 billion restructuring plan that opposition investors say mainly benefits the company’s controlling family.