Finance

Dura Automotive Files for Bankruptcy

October 17, 2019 at 2:40 PM

Lynn Tilton, the flamboyant owner of Dura Automotive Systems LLC, has put the company’s U.S. operations into bankruptcy so she can buy them back through a court-supervised auction.

Faraday Founder Jia Files for Bankruptcy in U.S.

October 14, 2019 at 1:53 PM

Jia Yueting, the Chinese internet tycoon who co-founded California-based electric car startup Faraday Future Inc., has filed for Chapter 11 bankruptcy in the U.S.

Suzuki Predicts $1.3 Billion Loss as Sales Slide

October 10, 2019 at 2:30 PM

Suzuki Motor Corp. warns that slumping sales in India will cut its net profit 22% to 140 billion yen ($1.3 billion) in the current fiscal year ending March 31.

BMW Aims to Hike SUV Sales to Fund EV Push

October 10, 2019 at 12:30 PM

BMW AG expects it will more than double sales of its priciest piston-powered models to help fund its push into all-electric vehicles.

Aston Martin Bond Issue Raises $150 Million

September 25, 2019 at 12:23 PM

Aston Martin Lagonda Global Holdings plc says it has sold $150 million in 12% senior secured notes.

EV Startup Nio’s Losses: $5.7 Billion in 4 Years

September 23, 2019 at 3:47 PM

Shanghai-based electric car startup Nio Inc. has piled up about $5.7 billion in losses since it launched five years ago,

Akebono Brake Gets $517 Million Bailout

September 18, 2019 at 5:46 PM

Akebono Brake Industry Co. says 37 of its creditor banks have agreed to forgive 56 billion yen ($517 million) in debt to help the company through an out-of-court based turnaround.

Report: Nissan Aims to Sell Trading Unit for $1 Billion

September 18, 2019 at 8:45 AM

Nissan Motor Co. hopes to sell its trading company subsidiary in a deal that could raise $1 billion for the struggling carmaker.
 

Autonomous-Truck Company Raises $120 Million

September 17, 2019 at 8:17 AM

TuSimple Inc., a San Diego-based startup that supplies autonomous driving technology for commercial truck applications, has raised $120 million in its latest funding round.

Moody’s Cuts Ford Rating to “Junk”

September 10, 2019 at 12:04 AM

Ford Motor Co.’s credit rating has been reduced to one notch below investment grade by Moody’s Investors Service.

France Might Consider Changes in Renault-Nissan Alliance

September 02, 2019 at 12:26 PM

The French government says it might be willing to support changes in cross-ownership of the Renault-Nissan-Mitsubishi alliance after all.

Mazda Moving to Toyota Financial Services in U.S.

August 29, 2019 at 12:41 AM

Next spring Mazda Motor Co. will drop JPMorgan Chase for consumer loans and leases and switch to Toyota Financial Services.