- Booking Holdings becomes latest investor in Southeast Asia’s Grab – Reuters: U.S. travel firm Booking Holdings Inc has invested $200 million in Southeast Asian ride-hailing firm Grab as part of a strategic partnership between the two companies.
- Hyundai’s U.S. head steps down amid shakeup of global operations – Automotive News: Hyundai Motor America CEO Kyung Soo Lee has left the position to return to South Korea as an adviser for the company. The automaker also has created two entities to develop future technologies and appointed new heads of product strategy and design …
- Take-up of car finance deals slows as appetite for diesel wanes – Guardian:
- Tesla’s third-largest shareholder says it’s willing to pump more money into the company – CNBC: Baillie Gifford, which holds a 7.72 percent stake in Tesla, called CEO Elon Musk an entrepreneur of “vision and ambition, who’s working towards a social good.” Tesla posted a $311.5 million net profit in the third quarter – its first in two years …
- On the Record: Head of luxury car maker Infiniti banks on crossover SUVs and electric vehicles – Latimes: The head of Infiniti, the luxury car maker owned by Japan’s Nissan Motor Co., is German national Roland Krueger, and it’s his job to make Infiniti stand …
- California Has a Posse in Tug-of-War With Trump Over Electric Cars – Bloomberg: If electric-car sales rise as more states require them, manufacturers could have a harder time arguing that compliance costs are too high ….
- Ford could provide a 40% return in the year ahead as restructuring takes hold, Goldman says – CNBC:
- China regulator is said to propose 50 percent cut to car purchase tax – Bloomberg – Reuters: ) – China’s top economic planning body is proposing to cut the tax levied on car purchases by half, as the impact of an escalating trade war with the United States threatens to slow the Chinese economy and affect demand for vehicles in the …
- Mercedes faces U.S. probe of recall-notice practices – Automotive News: NHTSA told Mercedes-Benz USA that it found numerous instances in which owners of recalled cars weren’t notified within the federally mandated 60-day window.
- UK lending growth hits three-year low after car sales fall: BoE – Reuters: British consumer borrowing rose at the slowest rate in more than three years last month after new car sales fell by a fifth, the Bank of England said on Monday, in news likely to raise concern about the economy’s strength.
- Tesla’s Elon Musk says his tweet that led to a $20 million fine was ‘worth it’ – CNBC: Tesla Chief Executive Elon Musk said the tweet that cost him and the company $20 million in fines each by the U.S. Securities and Exchange …
- A Fork in the Road for Avis – Fortune: Self-driving cars and ride-hailing services could make the car-rental industry obsolete-or create a huge opportunity. Here’s how Avis Budget is …
- China Regulator Proposes 50% Cut to Car Purchase Tax – Bloomberg:
- The 10 bestselling vehicles in metro Detroit might surprise you – Freep: The top ten most popular selling vehicles among consumers are all trucks and crossovers.
- BRIEF-Chongqing Changan Automobile Posts Net Loss In Q3, Net Profit In 9-Month – Yahoo: Oct 29 (Reuters) – Chongqing Changan Automobile Co Ltd : * CHONGQING CHANGAN AUTOMOBILE SAYS Q3 NET LOSS AT 446.5 MILLION YUAN ($64.16 million). * CHONGQING CHANGAN AUTOMOBILE SAYS 9-MONTH NET PROFIT AT 1.16 BILLION …
- Suzuki vows deeper ‘Make in India’ commitment with electric cars – Nikkei:
- There’s a Paradox in the Car Market and It Might Tell Us Whether a Recession Is Coming – Barrons:
- Luc Donckerwolke to take charge of Hyundai, Kia designs – Yonhap: SEOUL, Oct. 29 (Yonhap) — Luc Donckerwolke, vice president of Hyundai Motor’s design center, will be in charge of vehicle designs of Hyundai Motor and its affiliate Kia Motors Corp. from next month, Hyundai Motor Group said Monday. The former …
- One of the world’s largest fund managers is willing to invest more in Tesla – Yahoo: One of the world’s largest fund managers and largest shareholders of Tesla (TSLA) has revealed that it is willing to invest more into Elon Musk’s …
- South Korea’s Hyundai E&C cancels $521 million petrochemicals deal, cites Iran financing failure – Reuters: South Korea’s Hyundai Engineering & Construction said on Monday that it scrapped a 595 billion won ($521 million) deal to build a petrochemicals complex in Iran, saying the Iranian customer’s ability to fund it had been hit by the prospect of U.S….
- 2019 BMW 3 Series Touring could bring first M3 estate – Autocar: BMW will follow up the launch of its new 3 Series saloon with the inevitable Touring model, tipped for a likely reveal at next year’s Geneva Motor Show …
- Daimler doesn’t rule out future cooperation with Tesla: report – Reuters: Daimler AG (DAIGn.DE) does not rule out cooperating with Tesla Inc (TSLA.O) in future even though the German luxury car …
- Toyota could revive MR2 as an electric sports car – Yahoo: The British magazine claims an electric powertrain is a highly possible option for the small mid-engine sports car. One of the reasons for that is the flexible Toyota New Global Architecture, which can accommodate an electric propulsion and be used as …
- (LEAD) GM CEO says R&D separation is for ‘long-term ties to Korea’ – Yonhap: (ATTN: ADDS background in paras 6-12). SEOUL, Oct. 29 (Yonhap) — GM Korea Co.’s decision to build a separate R&D corporation will strengthen General Motors Co.’s long-term ties with South Korea, GM Chief Executive Mary Barra said Monday. The GM …
- Hyundai reshuffles executive ranks as scion drives change – Reuters: South Korea’s Hyundai Motor Group has created two entities to develop future technologies and appointed new heads of product …
- Focus: To make more Ram trucks, Fiat Chrysler reconsiders Mexico – Reuters:
- To make more Ram trucks, Fiat Chrysler reconsiders Mexico – Reuters: With a strategy of loading up its revamped Ram 1500 full-size trucks with new features – ranging from 12-inch touch screens on the dashboard to large …
- NHTSA’s proposed rule change should help tame headlights – Automotive News: After years of pleading from global automakers, NHTSA announced this month that it is considering a dramatic change to the long-standing rules that govern auto headlights.
- China troubles dampen Ford’s outlook – Automotive News: The world’s largest vehicle market is causing some of Ford’s biggest headaches.
- Tesla’s Supercharger strategy sets example – Automotive News: That same strategy will be necessary for fuel cell vehicles to have wide appeal. Fuel cell vehicles, you’ll recall, are EVs. But instead of storing electricity in a battery pack that weighs hundreds of pounds, electricity is produced from gaseous …
- The past doesn’t matter, says Levandowski – Automotive News: One former Google co-worker told the magazine: “We were once driving to a … about how much we wanted to earn from [Google’s self-driving project].
- Startup Rivian built around lean-manufacturing mindset – Automotive News: He has built Rivian around his fascination with leading automotive … Ill., formerly owned by Mitsubishi Motors, and create a sales and subscription …
- Electrify America’s networking opportunity – Automotive News: Total investment: $2 billion over four 30-month cycles. Background: Created as part of Volkswagen’s settlement with U.S. regulators after the company …
- Judge rejects challenge to GM’s surcharge – Automotive News: A federal judge in Milwaukee has shot down a challenge to a General Motors plan to impose a surcharge on all new vehicles sold to Wisconsin …
- Ford teases new breed of Mustang – Automotive News: In the new Ford TV spot “The Future is Built,” featuring actor Bryan Cranston, there is a mix of flashing graphics, Steve Jobs-like presentations, …
- Are the Chinese really coming here? – Automotive News: Starting in 2004, Chinese automakers such as Chery, Brilliance, Zotye and BYD began talking openly about entering the U.S. Later, SAIC and Great Wall signaled their intentions and this year GAC announced plans. But where are the vehicles? What has …
- GM turns the tables on regulators in proposing EV mandate – Automotive News: The proposal puts GM directly at odds with the Trump administration’s anti-regulatory stance on environmental issues and out ahead of its competitors in pushing electric vehicles on a reluctant public.
- Hyundai and Kia CEOs see crossover-led comeback – Automotive News: By the end of next year, both brands will be fielding full crossover lineups #8212; from subcompacts to full-size family movers #8212; and executives see them leading to upswings in volume.
- Magneti, Calson enter infotainment fray in $7.1 billion deal – Automotive News: The combined company will boast global sales of $17.3 billion, big enough to make it No. 11 on the Automotive News list of the top 100 global suppliers. But it’s still the new kid on the block.
- Denso’s overhaul will find new uses for old products – Automotive News: Denso Corp. looks for new value in old products as the supplier plans a transformation in the coming decade.
- EV startup Rivian built around lean-manufacturing mindset – Automotive News: To launch his tradition-breaking auto company, Rivian CEO RJ Scaringe is leaning on a proven industry culture.
- A course correction at American Center for Mobility – Automotive News: As self-driving technology emerged from places such as Silicon Valley and … The facility is also leading an industry study on truck platooning and researching how autonomous driving technology may affect the nation’s work force.
- ‘Quarterly capitalism’ takes its toll on public markets – FT: These words must be music to Elon Musk’s ears. The August 7 tweets by the Tesla founder about taking the company private attracted fraud charges …
- GM CEO says R&D separation is for ‘long-term ties to Korea’ – Yonhap: GM Korea Co.’s decision to build a separate R&D corporation will strengthen General Motors Co.’s long-term ties with …
- (LEAD) Hyundai to set up $100 mln hydrogen fund in China – Yonhap: (ATTN: CHANGES photo). SEOUL, Oct. 29 (Yonhap) — Hyundai Motor Co. has partnered with a Chinese institute to set up a US$100 million fund for local investments in hydrogen technologies and related industrial infrastructure, the company said Monday.
- Jaguar Land Rover joins Drive Electric to push EVs – Autocar: Drive Electric is a local advocacy group established to showcase the benefits of EVs, and lobby the government to encourage their use. Now Jaguar Land Rover is joining forces with the group. JLR NZ general manager, Steve Kenchington, says joining Drive …