Business

Munro Partners with India Engineering Firm

April 26, 2019 at 12:40 PM

Auburn Hills, Mich.-based Munro & Associates Inc. has formed a strategic alliance with India’s Hinduja Tech Ltd. to widen its range of engineering services. 

Toyota’s Lexus Brand to Enter Mexican Market

April 26, 2019 at 12:00 AM

Toyota Motor Corp. says its Lexus luxury brand will enter the Mexican market at the end of 2021.

Car-Sharing Giant Getaround Buys Rival Drivy

April 24, 2019 at 10:23 AM

San Francisco-based Getaround Inc. is acquiring European rival Drivy in a $300 million deal that will create the world's largest car-sharing service.

BMW to Source Cobalt Directly from Approved Mines

April 24, 2019 at 8:37 AM

BMW AG plans to buy cobalt, which is used in lithium-ion batteries for electrified vehicles, directly from mines to ensure child labor isn’t used during the mining process.

Allison Transmission Buys AxleTech’s EV Tech Unit

April 23, 2019 at 12:01 PM

Indianapolis-based Allison Transmission Holdings Inc. has agreed to purchase AxleTech International LLC’s Electric Vehicle Systems division.

Report: Nissan Will Reject Latest Renault Bid to Merge

April 22, 2019 at 1:19 PM

Nissan Motor Co. will reject a new proposal from alliance partner Renault SA to further integrate the companies, sources tell The Nikkei.

Tesla to Trim Board

April 22, 2019 at 12:00 AM

Tesla Inc. plans to reduce its board of directors to nine members from 11 and reduce their terms to two years in June, according to its proxy statement.

GM Board Poised to Become Mostly Female

April 19, 2019 at 10:06 AM

Women will gain the majority on General Motors Co.’s board of directors for the first time ever in June, when two male directors retire and are not replaced, Bloomberg News points out.

Uber Sheds Self-Driving Tech Unit, Lands $1B Investment

April 19, 2019 at 9:15 AM

Confirming earlier reports, Uber Technologies Inc. has made its autonomous vehicle systems unit a separate subsidiary.

VW Joins Blockchain Group for Sustainable EV Materials

April 18, 2019 at 4:21 PM

Volkswagen AG has joined a consortium that will use blockchain technology to trace and validate “ethically sourced” minerals, including those used in lithium-ion batteries for electrified vehicles.

Nissan Enlisted Govt. Help to Thwart Renault Merger

April 18, 2019 at 10:03 AM

Last year’s efforts by Carlos Ghosn, then chairman of Nissan Motor Co. and Renault SA, to merge the two companies were being undermined by secret efforts between Nissan and the Japanese government.

Report: Daimler Targets $9 Billion in Cost Cuts by 2021

April 18, 2019 at 8:49 AM

Daimler AG aims to achieve €8 billion ($9 billion) in combined cost savings from its passenger car and commercial truck operations by 2021, sources tell Manager Magazin.