- Tesla forms special committee, has no formal proposal from Musk – Reuters: Tesla Inc’s board has appointed a special committee to evaluate a potential transaction that would take the company private, but has not received a formal proposal from Chief Executive Elon Musk, the company said on Tuesday.
- Facelifted Skoda Fabia priced at £12,840 – Autocar: The Skoda Fabia has been shown at Geneva A new look, no diesel engines and updated equipment lead the comprehensively updated supermini The facelifted Skoda Fabia is priced from £12,840, with the entry-level car getting a 25% bump in power, from 59bhp…
- Ford in fight with Wall Street over dividend – Detroitnews: The debate over Ford”s payout to shareholders is exposing a divide over what needs to be done to fix the ailing carmaker
- Mercedes-AMG GT facelift seen testing ahead of likely LA debut – Autocar: Mercedes” Porsche 911 rival is set to receive a power boost and tech upgrades across the range, with an official reveal at the LA Motor Show in November expected Mercedes-Benz”s AMG performance car division is putting the finishing touches to a…
- BMW 8 Series Gran Coupe: new M850i test car takes to the Nurburgring – Autocar: Range-topping 8 Series will come in two-door coupe and convertible forms, as well as in four-door Gran Coupe guise BMW’s new range-topping four-door, the 8 Series Gran Coupe, has been spotted in warm M850i guise testing flat-out at the Nürburgring….
- Tesla’s board was surprised by Elon Musk’s tweet on taking the carmaker private – CNBC: An abrupt tweet last week by Elon Musk about the prospect of taking Tesla private had not been cleared ahead of time with the company”s board, The New York Times reported.
- Musk’s Tweets on Tesla Buyout Face Scrutiny After Saudi Disclosure – WSJ: Tesla Inc. Chief Executive Elon Musk’s revelations that he has talked to Saudi Arabia’s sovereign-wealth fund to provide the cash to take the company private gives regulators more ammunition to fault how he first disclosed it, securities law experts said.
- RPT-Keeping Tesla shares may not be an option for some big funds – Reuters: Elon Musk wants to take Tesla Inc private, but some of his big investors may not be able to follow.
- Evergrande Health says Faraday Future sets up headquarters in China – Reuters: Evergrande Health Industry Group Ltd, which owns a 45 percent stake in U.S.-based Faraday Future (FF), said the new-energy vehicle startup has set up its operating headquarters in China on Tuesday and it plans to build five R&D and production bases…
- EV company Nio seeks cash injection from stock market flotation – Autocar: The Chinese-based electric car company behind the EP9 hypercar is trying to raise investment from the sale of shares Chinese EV car maker Nio will float on the New York Stock Exchange (NYSE) in a bid to raise new funding from the sale of shares. The…
- The first Ford Mustang owner kept the car. It’s now worth $350,000 – Freep: The third-grade teacher who was the first person to buy a Ford Mustang has brought it to the Dream Cruise in suburban Detroit.
- Larger Tesla Stake by Giant Saudi Fund Faces Hurdles – WSJ: The people are skeptical the fund has any serious plans to take a sizable stake in Tesla beyond the nearly 5% it recently bought. As of last year, PIF officials and outside consultants were struggling to calculate the fund’s value, The Wall Street …
- South Korea Tells Some BMW Owners to Park Cars Over Fire Risk – Bloomberg: South Korea’s government will tell owners of some BMW AG cars in the country to keep the vehicles off the roads until the German carmaker …
- Elon Musk says advisers lined up to take Tesla private – FT: Tesla founder Elon Musk says he has lined up advisers to help take the electric carmaker private in the latest effort to signal his desire for a deal is serious. Following a message last week that he was considering taking the group private at $420 a…
- NIO seeks to raise $1.8 billion in biggest U.S. listing by China automaker – Reuters: Chinese electric vehicle start-up NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the biggest U.S. listing by a Chinese automaker.
- South Korea to ban about 20,000 BMW vehicles after engine fires – Reuters: South Korea’s transport ministry said on Tuesday it would ban some 20,000 BMW vehicles from the streets amid mounting public fears about engine fires.
- Elon Musk reveals he is working with Goldman Sachs and Silver Lake to help take Tesla private (TSLA, GS) – Yahoo: Elon Musk said via Twitter Monday evening that he was working Goldman Sachs and Silver Lake as financial advisors on a proposal to take Tesla private. Musk also said that he was working with the law firms Wachtell, Lipton, Rosen & Katz and Munger and …
- Kyoto electric car startup to rent core components for parts testing – Nikkei:
- Tencent-Backed Chinese EV Maker Seeks $1.8 Billion US IPO – Bloomberg: NIO Inc., the electric-car maker backed by technology giant Tencent Holdings Ltd., filed for a $1.8 billion initial public offering, becoming the first …
- Nio Files for $1.8 Billion US IPO in First by Chinese Carmaker – Bloomberg: Nio Inc., the electric-car maker seeking to compete with Tesla Inc., filed for a … biggest automobile market signals a shift to battery-powered vehicles in a bid to … Others like WM Motor Technology Co. and XPeng Motors, backed by …
- Elon Musk says he’s working with Goldman Sachs and Silver Lake on taking Tesla private – CNBC: Elon Musk said Monday that he is working with Goldman Sachs and Silver Lake on taking Tesla private. In a Twitter post, Musk said those two firms are acting as financial advisors, and he’s also working with Wachtell, Lipton, Rosen & Katz and Munger …
- FCA-UAW conspiracy ran deeper, longer, lawyer says – Detroitnews: Convicted Fiat Chrysler executive Alphons Iacobelli points to broader, longer-running conspiracy involving UAW as he awaits prison sentence
- Musk says working with Silver Lake, Goldman on proposal to take Tesla private – Reuters: Tesla Inc Chief Executive Officer Elon Musk said on Monday he was working with Silver Lake Partners and Goldman Sachs Group Inc for financial advice on his proposal to take the electric car company private.
- While Elon Musk Pushes to Take Tesla Private, China’s Nio Files for a $1.8 Billion IPO – Fortune: The automaker said that it had delivered 481 ES8 vehicles through July and had … China is the world’s largest passenger vehicle market. According to Frost & Sullivan, battery-powered electric vehicle sales are expected to increase …
- Elon Musk’s Tweets on Tesla Started a Tizzy. Someone Should Hit the Brakes. – New York Times: The tweets that Elon Musk of Tesla sent last week about taking his company private pushed investors into a tizzy as they tried to parse his every word. Regulators are examining Mr. Musk’s posts, but there is an another, perhaps broader question …