Business

Outside Panel Says Ghosn Had Too Much Power at Nissan

March 28, 2019 at 12:15 AM

An independent group asked to assess Nissan Motor Co.’s management and governance says too much power was concentrated in the hands of former Chairman Carlos Ghosn.

China’s UCAR Buys Majority Stake in Germany’s Borgward

March 27, 2019 at 4:50 PM

China-based ride-hailing service UCAR Inc. is acquiring control of German SUV maker Borgward Group AG, for $610 million.

Ford Confirms 3 Plant Closures in Russia

March 27, 2019 at 12:23 PM

Ford Motor Co. confirms it is restructuring its vehicle-making venture with Russia’s Sollers PJSC by phasing out car production and building only commercial vans.

Report: Renault Targets Mergers with Nissan, Then FCA

March 27, 2019 at 2:29 AM

Renault hopes to resume merger talks with alliance partner Nissan within 12 months—then do the same with a company such as Fiat Chrysler Automobiles, sources tell the Financial Times.

Report: Daimler to Sell 50% of Smart to Geely

March 26, 2019 at 3:54 PM

Daimler AG plans to sell a 50% stake in its Smart minicar unit to Zhejiang Geely Holding Group Co., sources tell the Financial Times.

EV Startup EVelozcity Changes Name

March 26, 2019 at 12:11 PM

EVelozcity Inc., a Los Angeles-based electric vehicle startup, has changed its name to Canoo.   

Uber Buys Middle East Rival in $3.1 Billion Deal

March 26, 2019 at 10:22 AM

Uber Technologies Inc. is acquiring Careem Inc., a larger ride-hailing rival in the Middle East and North Africa, for $3.1 billion in cash and convertible notes.

Israeli Lidar Firm Lands $130 Million in Funding

March 26, 2019 at 9:31 AM

Israel’s Innoviz Technologies Inc. has secured $132 million in its Series C funding round.

Report: Daimler to Decide Smart’s Future by Year-End

March 25, 2019 at 12:12 PM

Daimler AG is losing its patience with its Smart minicar unit and may decide to pull the plug on the chronically underperforming brand by the end of the year, Handelsblatt reports.

Report: Fiat Chrysler Rejected PSA Merger Bid

March 25, 2019 at 12:36 AM

Earlier this year, Fiat Chrysler Automobiles NV turned down an overture from PSA Group to merge, sources tell The Wall Street Journal.

Hyundai Prevails in Activist Proxy Fight

March 22, 2019 at 1:44 AM

Hyundai Motor Group shareholders have rejected a proposed board overhaul and bonus dividend proposed by activist hedge fund Elliott Management Corp.

Opel’s Union Okay Employee Transfers at German Tech Center

March 22, 2019 at 12:22 AM

As many as 2,000 workers at PSA Group’s Opel engineering center in Russelsheim, Germany, will be allowed to transfer to a French engineering company.