Business

Swedish Carmakers Form JV

January 29, 2019 at 11:24 AM

National Electric Vehicle Sweden AB is acquiring a 20% stake in Koenigsegg AB for €150 million ($171 million) and is forming a joint venture with the supercar company.

France Weighs in on Ghosn’s Treatment

January 29, 2019 at 1:13 AM

The French government, which owns 15% of Renault SA, has warned the company against awarding an “exorbitant” severance package to ex-Chairman and CEO Carlos Ghosn.

Desay to Open Autonomous-Vehicle Test Center in Singapore

January 28, 2019 at 7:30 PM

China’s Desay SV Automotive Ltd. is opening a research and development center in Singapore that will focus on Level 4/5 autonomous vehicle, connectivity and cybersecurity systems.

No Plans for Genesis Performance Sub-Brand

January 28, 2019 at 11:30 AM

Hyundai Motor Co.’s high-end Genesis unit has no immediate plans to launch a performance-oriented sub-brand akin to BMW M, Mercedes AMG or Volvo Polestar.

Zoyte Names First U.S. Dealers

January 28, 2019 at 10:19 AM

The initial group of U.S. franchised dealers for Zotye Automobile International Co. have been named as part of the Chinese carmaker’s plans to launch sales in the market by the end of 2020.

France: Renault’s New Chairman Should Head Nissan Too

January 28, 2019 at 1:38 AM

France, which owns 15% of Renault SA and 43% of Nissan Motor Co., says Renault’s newly appointed chairman should head both companies.

VW Launches Reorganized Parts Unit

January 25, 2019 at 9:42 AM

Volkswagen AG says its restructured parts operations will free up funds for the company’s electrification plans while helping to phase out products with a dim future.

Hyundai to Launch Sales JV in Vietnam

January 25, 2019 at 12:40 AM

Hyundai Motor Co. and Vietnam’s Thanh Cong Group have agreed to set up a joint sales venture that target’s Vietnam’s booming car market.

Daimler Seeks Tighter Ties to Chinese Suppliers

January 25, 2019 at 12:39 AM

Daimler AG says the company plans closer ties with Chinese supplier of parts of electrified and connected cars because of their technological expertise.

Nissan Calls Shareholder Meeting to Remove Ghosn, Kelly

January 25, 2019 at 12:22 AM

Nissan Motor Co. plans an extraordinary shareholder meeting in mid-April to formally discharge board members Carlos Ghosn and Greg Kelly.

Bosch Buys Daimler Stake in Electric Motor JV

January 24, 2019 at 11:41 AM

Robert Bosch GmbH is acquiring Daimler AG’s stake in the 50:50 EM-motive GmbH electric motor joint venture the companies established in 2011.

Audi Targets €15 Billion Cost Cuts

January 24, 2019 at 11:26 AM

Volkswagen AG’s Audi unit reportedly aims to reduce its costs by some €15 billion ($17 billion) by 2022.