Business

TomTom Loses Volvo Navigation Contract

October 16, 2018 at 12:05 PM

TomTom International BV says its upcoming contract to provide navigation technology to Volvo Car Corp. has been canceled.

BMW Forms Battery Tech Alliance

October 16, 2018 at 9:52 AM

BMW AG is teaming up with Swedish battery startup Northvolt AB and Belgian materials specialist Umicore NV to develop a “closed lifecycle loop” for batteries used in electric vehicles.

Lacks Enterprises Buys Carbon Wheel Developer

October 15, 2018 at 12:22 PM

Grand Rapids Mich.-based Lacks Enterprises Inc. has acquired Emergent Carbon Wheels, a Kansas City-based startup that was formed in 2012.

Porsche Discounts CFO’s Hint of IPO Plan

October 15, 2018 at 11:25 AM

Porsche AG has refuted comments by its chief financial officer that hinted the Volkswagen Group brand might float an initial public offering.

Digital Consulting Firm Plans to Expand Detroit Office

October 11, 2018 at 3:56 PM

Bethesda, Md.-based consulting firm Digital Management LLC (DMI) plans to expand its Detroit office from 250 people today to 750 over the next two years.

Women’s Racing League Set to Roll in 2019

October 11, 2018 at 3:02 PM

Organizers plan to launch an open-wheel motorsports series for female drivers next spring in Europe.

BMW to Hike Stake in China Venture to 75%

October 11, 2018 at 2:04 AM

BMW AG has agreed to spend €3.6 billion ($4.2 billion) to raise its equity in a venture with China partner Brilliance China Automotive Holdings Ltd. to 75% by 2022.

Volvo, Nvidia Ink Deal for Automated Vehicle Processors

October 10, 2018 at 10:40 AM

Nvidia Corp. has agreed to supply its latest Drive AGX Xavier autonomous vehicle technology to Volvo Car Corp.

Ford’s Stock Price Slides to 6-Year Low

October 10, 2018 at 12:51 AM

Ford Motor Co.’s common stock closed at $8.95 per share on Tuesday, marking the first time the price fell below $9 since August 2012.

FCA Nears Deal to Sell Magneti Marelli

October 09, 2018 at 1:37 PM

Fiat Chrysler Automobiles NV reportedly is close to a deal to sell its Magneti Marelli partsmaking unit to Japan’s Calsonic Kansei Corp.

Microsoft Invests in Grab Ride-Hailing Service

October 09, 2018 at 12:22 PM

Microsoft Corp. is making an unspecified investment in Singapore-based GrabTaxi Holdings Pte. Ltd. as part of a deal that includes collaborating on big data and artificial intelligence systems.

Ford Readies Cuts in Salaried Workforce

October 08, 2018 at 12:09 AM

Ford Motor Co. has alerted its 70,000 salaried employees that their ranks will be reduced over the next eight months in a sweeping redesign of the company’s entire business.