Business

Lear Buys Telematics Software Company

April 02, 2019 at 9:02 AM

Lear Corp. has agreed to acquire Xevo Inc., a Seattle-based software supplier of telematics systems, for $320 million.

Conti Buys Anti-Vibration Unit from Cooper Standard

April 02, 2019 at 12:10 AM

Cooper-Standard Holdings Inc. has completed the sale of its anti-vibration systems unit to Continental AG in a deal worth $266 million.

Report: Ghosn, Saikawa Mulled 4th Partner in Renault-Nissan Alliance

April 01, 2019 at 4:37 PM

Last autumn Nissan Motor Co.’s chairman and CEO were considering whether to add a fourth company to the Renault-Nissan-Mitsubishi alliance, says Bloomberg News.

Report: FCA, PSA May Collaborate on EV Platform

April 01, 2019 at 1:50 AM

Fiat Chrysler Automobiles NV and FCA Group may develop a shared chassis for electric cars and could announce formal talks in June, sources tell Bloomberg News.

Report: Nio Blocked IPO Banks from Rival EV Makers

March 29, 2019 at 4:02 PM

China-based electric-car developer Nio Inc. blocked the eight investment banks that handled its initial public offering from working with rival EV companies.

Daimler Trucks Buys Majority Stake in Torc Robotics

March 29, 2019 at 3:18 PM

Daimler AG’s commercial truck unit has purchased a controlling stake in Torc Robotics Inc., a Virginia-based developer of autonomy driving technology.

ZF Will Buy Wabco in $7 Billion Deal

March 28, 2019 at 10:44 AM

ZF Friedrichshafen AG has agreed to acquire Brussels-based Wabco Holdings Inc. in a deal worth $7 billion.

Daimler, Geely Confirm Venture to Relaunch Smart Brand

March 28, 2019 at 10:17 AM

Daimler and Zhejiang Geely Holding Group confirm they have formed a 50:50 joint venture to develop and operate Daimler’s Smart brand globally as an all-electric carmaker.

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.