Business

Danfoss to Buy UQM

January 23, 2019 at 8:57 AM

Danfoss Power Solutions Co., a subsidiary of Denmark-based Danfoss AS, has agreed to purchase UQM Technologies Inc. for $100 million.

Report: BMW-Daimler Car-Share Service to Be Called “Jurbey”

January 23, 2019 at 12:19 AM

BMW AG and Daimler AG will name their merged car-sharing services “Jurbey,” a source tells Reuters.

TomTom Sells Telematics Unit to Bridgestone

January 22, 2019 at 9:28 AM

Location services provider TomTom International BV has agreed to sell its telematic fleet management operations to tiremaker Bridgestone Corp.’s European unit for €910 million ($1 billion).

Lishen to Supply EV Batteries for Tesla’s Plant in China

January 22, 2019 at 12:19 AM

China’s Tianjin Lishen Battery Co. has signed a preliminary deal to supply batteries for electric cars made in the $2 billion factory Tesla Inc. is building in Shanghai, Reuters reports.

Report: GM to Kill Chevy Sonic

January 21, 2019 at 4:53 PM

General Motors Co. likely will discontinue the slow-selling Chevrolet Sonic small car in the U.S. this year, according to The Wall Street Journal.

Report: BMW, Mercedes May Partner on Small Cars

January 21, 2019 at 9:49 AM

BMW AG and Daimler AG may collaborate on their next-generation small-car platforms, sources tell Handelsblatt.

Toyota, Panasonic Plan Batterymaking Venture

January 21, 2019 at 2:53 AM

Toyota Motor Corp. and Panasonic Corp. expect to launch a venture in 2020 to make advanced “prismatic” batteries for electric cars.

N. American Tooling Outlook

January 21, 2019 at 1:41 AM

Spending on automotive tooling in North America surged 48% to $10.3 billion in 2017 and had been expected to climb another 14% last year. But sales dropped instead.

France: No Plan to Alter Stakes in Renault-Nissan Alliance

January 21, 2019 at 12:14 AM

France’s financial minister says there are no plans to alter the lopsided equity holdings in alliance between Renault SA and Nissan Motor Co.

Tesla to Cut 3,200 Jobs

January 18, 2019 at 11:06 AM

Tesla Inc., which expanded its workforce 30% in 2018, now says it must cut its staff by 7% (about 3,200 people) to lower product costs and help achieve sustainable profitability.

Karma, Pininfarina Partner on Product Development

January 17, 2019 at 3:49 PM

California-based Karma Automotive LLC says it is teaming up with Italian design and engineering firm Pininfarina SpA on unspecified future projects.

Nissan CEO to Meet Renault Board on Ghosn Scandal

January 17, 2019 at 10:32 AM

Nissan Motor Co.’s CEO Hiroto Saikawa is scheduled to meet tonight with French government officials and the board of alliance partner Renault SA to discuss the Carlos Ghosn crisis.