Top News:
- Germany says makes progress with China on electric car quotas – Reuters: Germany has made good progress with China on how to introduce quotas aimed at producing more electric vehicles, Foreign Minister Sigmar Gabriel said on Wednesday, adding that more details needed to be worked out.
- China’s Geely buys 49.9 pct of Malaysian automaker Proton – Reuters: Geely, the owner of Sweden’s Volvo Car Group, on Wednesday said it would buy 49.9 percent of struggling Malaysian carmaker Proton from conglomerate DRB-HICOM Bhd, marking the Chinese automaker’s first push into Southeast Asia.
- Tesla production growth may be at expense of worker safety, report says – CBS News: A new report obtained by “CBS This Morning” claims electric carmaker Tesla’s production growth might be coming at the expense of worker safety. The analysis was conducted by the health and safety advocacy group Worksafe. The report shows in 2015 the…
- German prosecutor says is in touch with U.S. authorities on Daimler – Reuters: German prosecutors, who searched Daimler’s offices this week as part of an investigation into diesel pollution, are talking to U.S. authorities, the Stuttgart public prosecutor’s office said on Wednesday.
- India’s Mahindra to build long-range electric vehicles – Reuters: Mahindra plans to ramp up production of its electric vehicles to 5,000 units a month by mid-2019 from 400 units currently and will invest in making batteries that enable cars to run for 400 kilometres on a single charge, managing director Pawan Goenka …
- Brussels opens competition case into JLR Slovakia plant – FT: Europe’s competition watchdog has opened a probe into the €125m state-incentives promised to Jaguar Land Rover for its plan to build a €1.4bn plant…
- Clean-car rules support U.S. jobs, environmental groups say – Automotive News: More than a quarter million U.S. jobs are tied to the production of technologies and materials used to improve vehicle fuel economy, according to a new report released by environmental groups.
- Jaguar Land Rover’s Slovakian aid investigated by EU – Automotive News: EU state aid regulators opened an investigation on Wednesday into Slovakia’s plan to grant 125 million euros ($139.7 million) to Jaguar…
- EU regulators to investigate Slovakian aid for Jaguar Land Rover – Reuters: EU state aid regulators opened on Wednesday an investigation into Slovakia’s plan to grant 125 million euros ($139.7 million) to Tata Motors’ luxury British arm Jaguar Land Rover, saying they had concerns about the legality of the measure.
- Chinese Billionaire Adds Proton, Lotus to Expanding Auto Empire – Bloomberg: Li’s Zhejiang Geely Holding Group, which also owns the upscale Sweden-based Volvo Cars, announced Wednesday that it will buy 49.9 percent of…
- Lotus can thrive under Geely – Automotive News: Lotus could also use Volvo’s electrical platforms to incorporate the latest infotainment and safety technology, much like Aston Martin does with Daimler…
- VW brand recruits Hyundai’s Sengpiehl as global marketing chief – Automotive News: Volkswagen Group has recruited Hyundai’s Jochen Sengpiehl to be global marketing director for its core VW brand, a source familiar with the matter…
- BRIEF-General Motors to begin talks on transition plan after decision to stop car sales in India – Reuters: * Says to begin talks with dealers on a transition plan this week after co decided to stop sales of cars in India
- Israel takes on UberNight in latest legal battle for Uber – Reuters: Uber faces a legal challenge in Israel, adding to the list of places where it is under scrutiny, after the country alleged unauthorized drivers were illegally paid using its network for a new car pooling app the company is piloting.
- Ford CEO, Lieutenants Seek to Carve Out Strategy in Evolving Car Industry – WSJ: The top agenda item for Ford CEO Jim Hackett is carving out a clear strategy for the auto maker’s role in an evolving car business. For just about everything else, he can rely on Joe Hinrichs and Jim Farley.
- Big oil, banks gives Europe stability, autos driven lower by Fiat – Reuters: * Glencore dips, makes approach to Bunge (Adds quotes and detail, updates prices)
- Volkswagen hybrid Golf concepts revealed at Worthersee – Autocar: two apprentice-made concepts, one GTI and one GTE Estate, have been revealed at the Worthersee meeting in Austria
- Volkswagen reveals 396bhp hybrid Golf concept – Autocar: Innovative apprentice-designed car is first electrified VW to carry GTI badge; GTE Estate concept also shown
- % of Malaysia’s Proton – Nikkei: DRB-Hicom said Wednesday that Zhejiang Geely Holding Group will acquire a 49% stake in Proton Holdings and its entire stakes…
- Big oil helps European shares edge up, Fiat drives autos lower – Reuters: European shares, stuck just below 21-month highs for more than a week, fought for direction in early deals on Wednesday as weakness in mining and autos sectors were offset by strength in oil producers.
- Geely’s Proton Therapy – Bloomberg: Volvo, which Li bought from Ford Motor Co. for $1.8 billion in 2010, has performed rather well since the deal. While Ford’s operating margin has flailed…
- BRIEF-Mahindra & Mahindra to launch next electric vehicle in second half of 2019 – Reuters: is the news and media division of Thomson . Thomson is the world’s largest international multimedia news agency, providing …
- BRIEF-Renault planning to buy some French R&D activities of Intel – Reuters: Renault: * Planning to buy some French R&D businesses of Intel * Expects deal to completed during Q2
- Geely takes 49.9 percent stake in Malaysian car maker Proton – Reuters: Geely is the parent company of Hong Kong-based Geely Automobile Holdings Ltd (0175.HK) and Sweden’s Volvo Car Group. Malaysian manufacturer …
- Geely agrees to buy Malaysia’s Proton, UK automaker Lotus – Automotive News: Geely is the parent company of Hong Kong-based Geely Automobile Holdings and Sweden’s Volvo Car Group. Geely said it is committed to reviving…
- Analysis – India’s electric vehicles push likely to benefit Chinese car makers – Reuters: India’s ambitious plan to push electric vehicles at the expense of other technologies could benefit Chinese car makers seeking to enter the market, but is worrying established automakers in the country who have so far focused on making hybrid models.
- China’s Geely takes 49.9 percent stake in Malaysia’s national carmaker Proton – Reuters: HK) and Sweden’s Volvo Car Group, would also acquire 51 percent of Proton unit Lotus, the companies said. The investment comes on the back of …
- Jim Hackett has an impossible job to remake Ford – FT: Mark Fields was fond of saying that Ford Motor Company needed to keep “one foot in the present and one foot in the future”. Mr Fields lost his footing…
- Chrysler in Regulatory Crosshairs Again – Bloomberg: Fiat Chrysler Automobiles NV keeps running into trouble with the same government that arranged its shotgun marriage. With a U.S. Justice…
- Geely trims early gains on reports of Proton deal – FT: Chinese carmaker Geely Automobile Holdings rose as much as 1.2 per cent during early trading on Wednesday following reports its parent company…
- New engine valve tech gives petrols the efficiency of diesels – Autocar: Prototype IVA engine swaps a usual longitudinal camshaft for short, individually driven camshafts sited across the top of the cylinder head. The digitally controlled intelligent valve operation betters the fuel economy and engine flexibility of petrols
- Ford’s Turmoil Is Not About Tesla – WSJ: Now let’s consider the defenestration at Ford Motor Company of Mark Fields. Ford’s stock price under his three-year leadership has been down 37%.
- China’s LeEco to cut about 70 pct of U.S. staff amid global pull-back – Reuters: * Founder said cash-strapped firm grew too quickly (Adds comments from LeEco, context)
- Geely to buy Lotus, stake in Proton – Autocar: Chinese firm to purchase 49% of Malaysian automaker, along with full control of British marque Lotus
- Can Ford’s New Chief Pull Off Another Michigan Miracle? – WSJ: Ford Motor Co.’s new boss doesn’t have to sell a single car to win fans in the dozens of factory towns and suburban communities within a short drive of…
- Google Might Be Sitting on a $70 Billion Rival to Uber and Tesla – Fortune: Google’s self-driving car unit could be far more valuable than General … unit not only a threat to Uber – but also to electric car maker Tesla Motors.
- Ford awards multimillion-dollar retention bonuses to four executives – Automotive News: Days before it parted ways with former CEO Mark Fields, Ford Motor Co. offered retention stock bonuses to four top executives ranging from $2 million…