Business

Reports: Geely Buys 10% Stake in Daimler

February 23, 2018 at 1:32 PM

China’s Zhejiang Geely Holding Group has acquired a 9.7% stake in Daimler AG to make it the German carmaker’s largest single shareholder, according to media reports.

GM Will Ask for Wage Freeze, Benefits Cuts at Korean Unit

February 23, 2018 at 11:12 AM

General Motors Co. will propose freezing worker wages and suspending benefits for some employees to lower costs at its struggling manufacturing unit in South Korea, according to Reuters.

BMW, Great Wall Aim to Make Mini EVs in China

February 23, 2018 at 8:56 AM

BMW AG has signed a letter of intent with Great Wall Motor Ltd. to form a joint venture that would produce all-electric Mini-badged small cars in China.

Bosch Forms Mobility Services Unit, Acquires U.S. Ridesharing Startup

February 21, 2018 at 8:32 AM

Robert Bosch GmbH’s newly formed Connected Mobility Solutions division will focus on car- and ridesharing services, connectivity and other “digital mobility” products.​​

Mitsubishi Corp. Confirms Plan to Hike Its Stake in MMC

February 21, 2018 at 2:00 AM

Trading house Mitsubishi Corp. says it will double its stake in Mitsubishi Motors to 20% by buying a portion of shares held by two other members of the Mitsubishi Group.

Qualcomm Hikes Bid for NXP

February 21, 2018 at 12:58 AM

Qualcomm Inc. has raised its bid to buy NXP Semiconductors NV to $44 billion in an effort to block its own acquisition by Broadcom Ltd.

China to Multiply Output of Bioethenol Fuels

February 20, 2018 at 1:39 PM

China plans to expand its production and consumption of bioethanol fuel over the next three years to help reduce excess stockpiles of corn and grain.

GM Offers Debt-for-Equity Swap to Revive S. Korea Unit

February 20, 2018 at 12:07 AM

General Motors Co. has offered the South Korean government $2.2 billion in equity in a deal to revive its struggling carmaker operations in the country, sources tell Reuters.

Mitsubishi Corp. Will Double Stake in Mitsubishi Motors

February 19, 2018 at 6:20 PM

Trading house Mitsubishi Corp. is expected to announce tomorrow it is doubling its stake in Mitsubishi Motors Corp. to about 20%, according to The Nikkei.

Former F1 Driver Starts New Car Company

February 19, 2018 at 12:06 PM

David Brabham, a former race car driver and youngest son of Formula One legend Jack Brabham, has formally launched Brabham Automotive Ltd. 

Autoliv Electronics Spinoff to be Called Veoneer

February 19, 2018 at 10:04 AM

Autoliv says the new company created when it spins off of its electronics business will be called Veoneer.

Ghosn Vows “Irreversible” Renault Links to Nissan, Mitsubishi

February 16, 2018 at 11:31 AM

Renault CEO Carlos Ghosn promises to make the carmaker’s alliance with Nissan and Mitsubishi “irreversible,” but without merging the companies.