- Honda invests $2.75bn in GM Cruise self-driving unit – FT: Honda said on Wednesday that it will invest $2.75bn in Cruise, General Motors’ self-driving unit, in the latest deal to hit the nascent but booming industry. The Japanese carmaker said it has taken a $750m stake in the project and will invest a further …
- Honda to invest $2.75bn in GM autonomous car unit – Nikkei: TOKYO — Honda Motor has announced an overall $2.75 billion partnership with General Motors and its self-driving unit, Cruise Holdings. The three companies intend to introduce an autonomous vehicle on a global scale. Honda expects the partnership to …
- Honda to Invest in Cruise, GM’s Self-Driving Venture – New York Times: Honda is teaming up with General Motors in the race to develop fully autonomous vehicles. The Japanese automaker has agreed to purchase a $750 million stake in Cruise, G.M.’s autonomous vehicles unit, and contribute $2 billion to the project over the …
- GM and Honda to develop and build autonomous vehicles – CNBC: ‘s Phil LeBeau reports that General Motors and Honda have announced a partnership to develop and build an autonomous multi-use vehicle together.
- Honda buys in to GM Cruise self-driving unit – Reuters: Honda Motor Co Ltd will invest $2 billion over 12 years in General Motors Co’s Cruise autonomous vehicle unit after paying $750 million for a stake in the project, seen as among the leaders in self-driving car development.
- GM’s Cruise Draws $2.75 Billion From Honda in Self-Driving Pact – Bloomberg: The new partnership has the potential to boost the global scale of GM’s self-driving car technology and accelerate deployment of autonomous vehicles for Honda. The two automakers will develop a self-driving vehicle that can be used in a variety of ways …
- Honda joins GM Cruise to build self-driving car – Detroitnews: Honda is joining General Motors Co.’s autonomous vehicle unit, planning to develop a self-driving car for mass deployment with a $2.75 billion investment. Honda is making an immediate $750 million equity investment in GM Cruise LLC to take a 5.7 …
- Mazda Connect upgraded for 2019 CX-9; retrofit offered for other models – Automotive News: Mazda is launching an upgraded version of its Mazda Connect infotainment system as standard equipment on the 2019 CX-9 intermediate SUV but also plans to offer retrofit kits for other models as far back as 2013. The upgrade also will be offered on 2018 …
- 2019 Ford Transit Connect Wagon gets 29 mpg on highway – Automotive News: The Transit Connect Wagon’s gasoline engine gets 29 mpg on the highway, but Ford is aiming to crack the 30 mpg barrier with its new 1.5-liter diesel engine.
- Musk threatened to quit before conceding to SEC, Murdoch proposed as successor, New York Times reports – Automotive News: Tesla CEO Elon Musk had threatened to resign, in a phone call with directors, if the board insisted that he and the company enter into a settlement with the Securities and Exchange Commission, The New York Times reported.
- GM and Honda team up to build an autonomous vehicle – CNBC: Honda is taking a stake in General Motors subsidiary Cruise Holdings as part of a plan for the Japanese and American automakers to work together developing and building an autonomous vehicle. The investment of $2.8 billion over the next 12 years …
- Renault launches new all-electric K-ZE – Yahoo: Renault has revealed its all-electric K-ZE crossover at today’s Paris Motor Show. Set to be introduced in China next year before arriving in other markets, the KZ-E comes with a double charging system compatible with traditional domestic plugs as well …
- New Nafta Shows Limits of ‘America First’ – WSJ: To free traders, the new Nafta is a bitter pill to swallow. But the verdict is different when judged by a different standard-how the world”s trading system survived the most protectionist U.S. administration in memory.
- Aston Martin: Love It or Short It – Bloomberg: There had apparently been more than enough interest in Aston Martin Lagonda Global Holdings Plc for its bankers to sell 25 percent of the company at 19 pounds a share, giving the business a market value of 4.3 billion pounds ($5 billion). But having…
- VW’s Skoda needs to boost annual capacity by 400,000 cars: CEO – Reuters: Volkswagen’s Czech carmaker Skoda Auto needs to increase its capacity in Europe by 400,000 cars annually from the start of the next decade, Chief Executive Bernhard Maier was quoted as saying on Wednesday.
- Opinion: why BMW says the 3 Series will ‘kill’ the Jaguar XE – Autocar: BMW 3 Series Facelifted XE, due next year, faces tough opposition in a shrinking sector – and a new 3 Series can only make things harder The answer to the oddly pointed question came from BMW chairman Harald Krüger, but before it sparks an…
- World’s first high-altitude cable car roof terrace opens in France – Guardian:
- Tesla Vehicle Deliveries Jump on Strong Model 3 Sales – Yahoo: Tesla (NASDAQ: TSLA) had laid out some aggressive guidance going into its third quarter. Of course, given the company’s slower-than-expected initial ramp-up for Model 3 production, many investors were doubting the electric-car maker’s ability to hit …
- Aston Martin CEO Says Not Worrying Too Much About IPO Share Decline – Bloomberg: ‘s Francine Lacqua on …
- U.S. regulator unsatisfied with Wells Fargo’s progress in reimbursing auto loan customers – Automotive News: Wells Fargo hasn’t yet satisfied one of the regulators responsible for deciding whether the bank is properly reimbursing customers who might have been harmed by recent scandals involving its auto lending and mortgage businesses.
- China’s Tesla Wannabe to Face Wall Street Reckoning After U-Turn – Bloomberg: One of this year’s largest U.S. listings by a Chinese firm is likely to become the subject of Wall Street scrutiny next week. Sell-side analysts are expected to initiate coverage of NIO Inc. on Monday in the wake of its shares reversing course after …
- Tesla Had a Generous Offer to End the SEC Probe. Then Elon Musk Got Involved – Fortune: Tesla CEO and chairman Elon Musk blocked an initial settlement offered by the U.S. Securities and Exchange Commission (SEC) last week. The deal they got instead, after a lawsuit and 14% drop in stock price, was worse for both Tesla and Musk, who will …
- Moody’s: Brexit poses ‘significant risks’ to European aerospace and defense firms – CNBC: The ratings agency has identified Rolls-Royce, Airbus and Leonardo as major firms in danger of disruption.
- Future of Alliance with Nissan/Renault the Big Question as Zetsche Prepares to End Role as Daimler CEO – Detroit Bureau: Since launching the first in a broad series of joint ventures nine years ago, Daimler AG and the Nissan/Renault/Mitsubishi Alliance have generated what they claim to be billions of dollars in “synergies” that have allowed them to expand their product …
- With Volkswagen payout, states have $2.7 billion to boost EV adoption – Axios: In the wake of its 2015 emissions scandal, Volkswagen reached a settlement with the EPA to pay $2.7 billion across all 50 states to make up for unaccounted emissions from non-compliant vehicles. States have been instructed to use these funds to …
- Elon Musk’s Ultimatum to Tesla: Fight the SEC, or I Quit – CNBC: Securities and Exchange Commission officials were understandably taken aback on Thursday morning when Tesla’s board – and its chairman, Elon Musk – abruptly pulled out of a carefully crafted settlement. After the S.E.C. responded by accusing Mr.Musk…
- Auto provisions were a major US focus in revamping NAFTA, but analysts say the changes will have modest impact – Latimes:
- Ferrari showcases Monza SP1 and SP2 speedsters in Paris – Autocar: Dramatic one- and two-seat Monza SP1 and SP2 are the first two models in Ferrari’s ‘Icona” series of limited-run specials Ferrari has unveiled the dramatic Monza SP1 and SP2, the first two models in a series of limited-edition specials that the…
- Audi CEO Stadler in line for $8 million payout – Automotive News: Audi CEO Rupert Stadler is in line for a $8.1 million payout if he is cleared of involvement in VW Group’s diesel emissions cheating.
- Renault-Nissan, Daimler mull extending alliance to autonomous, battery tech – Reuters: Renault-Nissan and Daimler may expand their cooperation to battery and autonomous cars technology and mobility services, the companies said on Wednesday.
- What to Watch: Tesco, Aston Martin’s IPO, and May’s Brexit speech – Yahoo: Here’s an overview of some key companies and political developments that the Yahoo Finance UK team is monitoring today in Europe: …
- Bentley Bentayga Diesel dropped in Europe – Autocar: Falling demand and increasing anti-diesel attitudes have led to the brand to withdraw its only diesel model in Europe Bentley”s first diesel car, the V8 diesel-engined version of the Bentayga, will also be its last offered in Europe. The Bentayga…
- Toyota Yaris GR Sport unveiled at Paris motor show – Autocar: Gazoo Racing-inspired variant gets uprated suspension and Yaris GRMN bodystyling Toyota has officially revealed the Yaris GR Sport, a warm supermini that takes inspiration from the Yaris GRMN, at the Paris motor show. Due on sale from late 2018, it…
- 759bhp Lamborghini Aventador SVJ shown in Paris – Autocar: A 0-62mph time of 2.8sec and a 217mph-plus top speed, plus a Nurburgring lap record, make it the fastest Lamborghini on sale The Lamborghini Aventador SVJ has been shown at the Paris motor show after its official reveal at the Pebble Beach Concours…
- Aston Martin Makes Trading Debut – Bloomberg: ‘s Tommaso Ebhardt reports on …
- EU lawmakers to vote on CO2 cut for cars, vans – Reuters: EU lawmakers are expected to back more ambitious targets for cuts in carbon dioxide emissions for cars and vans in a vote …
- 007 carmaker Aston Martin drives into £4.3bn London listing – Yahoo: London (AFP) – James Bond’s favourite carmaker Aston Martin on Wednesday launched on the London stock market, valuing the British luxury sports car brand at £4.3 billion ($5.6 billion, 4.9 billion euros). Aston, which has a long-running association …
- Can Aston Martin Roar Ahead of Rivals in IPO?: Taking Stock – Bloomberg: Can Aston Martin repeat Ferrari’s share price performance? Ferrari is often cited as a successful story as the stock has had a stellar 165% performance since its IPO in October 2015. Although looking back at the early days, Ferrari lost about 40% of …
- Limited Edition Variants of Honda CR-V, Mobilio, Civic Ready to Hit the Road – Yahoo: Honda Cars Philippines, Inc. (HCPI), Honda’s automobile business unit in the Philippines, is pleased to introduce the limited edition variants of the …
- Renault plans low-cost electric crossover for China in ’19 – Automotive News: Renault will introduce a low-cost urban vehicle in China next year – the electric K-ZE, based on the Kwid subcompact crossover sold in …
- Aston Martin IPO values luxury carmaker at £4.3bn – Guardian: Andy Palmer, chief executive, said the listing was “a historic milestone” for Aston Martin. “We are delighted by the positive response we have received from investors across the world and are very pleased to welcome our new shareholders to the register …
- Aston Martin shares open flat at 19 pounds per share in London debut – Reuters: Shares in luxury carmaker Aston Martin opened flat at the offer price of 19 pounds ($24.70) per share in its London debut on Wednesday.
- China’s GAC likely to debut in Europe with an EV – Automotive News: Chinese carmaker GAC Motor probably will enter Europe with an electric vehicle, but the timing is still uncertain, the top management said in …
- Hyundai, Kia expected to sell over 1 mln vehicles in Europe this year – Yonhap: SEOUL, Oct. 3 (Yonhap) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Wednesday their combined sales in Europe are likely to exceed 1 million vehicles this year. The top two automakers of South Korea sold a combined 715,050 cars in Europe …
- Aston Martin confirms share price for London Stock Exchange flotation – Autocar: Aston Martin will be floated on the London Stock Exchange at 08.00 this morning (Wednesday 3 October), with an initial offer price of £19 per share – valuing the British car maker at £4.33 billion. The firm will offer 57,000,723 shares, representing 25 …
- General Motors Q3 US sales down 11.1 percent from last ye… – Yahoo: CNBC Videos October 2, 2018. Content is currently unavailable. CNBC’s Phil LeBeau reports on General Motors’ sales dropping last quarter. Auto sales were down for every division for GM. Sales for the Chevy Bolt car was down 41 percent.
- Aston Martin prices initial public offering at 19 pounds per share: bookrunner – Reuters: LONDON (Reuters) – Britain’s Aston Martin (AML.L) said on Wednesday it had priced its shares at 19 pounds in its eagerly anticipated London stock market debut, giving the luxury carmaker a valuation of 4.33 billion pounds ($5.63 billion).
- Aston Martin drives towards £4.3bn valuation on IPO – FT: Aston Martin has priced its initial public offering at £19 a share, valuing the luxury carmaker’s equity at £4.33bn when it lists on the London Stock Exchange later today. The deal will net just under £1.1bn for the existing shareholders, including the …
- Aston Martin priced at 19 pounds per share in float, eyes $5.6 billion valuation – Reuters: Britain’s Aston Martin said on Wednesday it had priced its shares at 19 pounds each in its London stock market debut, giving the luxury carmaker a valuation of $5.6 billion.
- BUZZ-India’s Maruti Suzuki breaks support at 7398 rupees, may test 7068 – technicals – Reuters: Maruti Suzuki India Ltd, the country’s largest carmaker, falls as much as 3.39 pct to 7,211.15 rupees and breaks a support at 7397.6 rupees. ** The 7397.6 level is identified as the 38.2 pct Fibonacci retracement level of the uptrend from Feb. 29, 2016 …
- Wraps come off superlight electric car prototype – Nikkei: Wraps come off superlight electric car prototype … Lighter materials are essential for making flying cars more than the stuff of science fiction.
- Peugeot to halt diesel engine development as demand drops – Autocar: Brand won’t invest into diesel for now, instead waiting to see how the market changes and focusing on plug-in hybrids Peugeot is the latest brand to confirm it is halting development of diesel engines until the market stabilises, and it may remove…
- Some Tesla directors proposed James Murdoch to succeed Musk as chairman – NYT – Reuters: Some Tesla directors have proposed that James Murdoch, fellow board member at the electric carmaker and chief executive officer of Twenty-First Century Fox Inc , succeed Elon Musk as its chairman, the New York Times reported on Tuesday, citing people…
- Filipino Flying Car Maker Partners with Australian Company – Yahoo: Remember when we told you about the Filipino inventor who invented a flying car? According to ABS-CBN, Kyxz Mendiola was able to find an …
- There’s No Escape From This US Car Crash – Bloomberg: Toyota Motor Corp.’s dropped 10 percent, Honda Motor Co.’s were down 7 percent, Ford Motor Co. posted a decline of about 11 percent and Nissan Motor Co. saw deliveries fall 12 percent. A worsening U.S. auto market should be no surprise amid the shift …
- Feds ‘far from’ finished investigating automakers, UAW – Detroitnews: The warning shot was leveled in a federal court filing Monday involving a lingering dispute involving restitution owed by former Fiat Chrysler Automobiles NV Vice President Alphons Iacobelli, who was convicted in the multimillion-dollar corruption scandal.
- Volkswagen Fires Jailed Audi CEO Amid Emissions Cheating Scandal – Yahoo: Volkswagen Fires Jailed Audi CEO Amid Emissions Cheating Scandal. Yahoo View October 2, 2018. The former CEO was arrested back in June for his involvement in the the company’s emissions scandal. Watch TV shows, movies and more on Yahoo View.
- Nikkei drops as automakers hit by weak U.S. sales – Reuters: * Suruga jumps retail investors seen short-covering – traders
- Hyundai Oilbank signs oil supply deal with Mexican firm – Yonhap: SEOUL, Oct. 3 (Yonhap) — Hyundai Oilbank Co. said Wednesday that it has signed a long-term contract with a Mexican state-owned firm to supply gasoline. Under the deal with PMI, the trading arm of Mexican state-owned Pemex, the South Korean oil refiner …
- Report says Musk rejected a SEC settlement, threatened to quit – then settled on harsher terms – Latimes: Telsa Inc. Chairman and Chief Executive Elon Musk turned down a settlement with the Securities and Exchange Commission before the SEC charged …
- Experts: Detroit, Silicon Valley should work together on AVs – Detroitnews: Rebecca Blumenstein, New York Times deputy managing editor, led Michigan Gov. Rick Snyder; Kevin Johnson, president and CEO of Detroit Economic Growth Corp.;Raj Kapoor, chief strategy officer at Lyft; and Sherif Marakby, president and CEO of Ford …
- Sexy at 70: Porsche’s limited-edition 911 Speedster gets green light for 2019 – Yahoo: The tantalizingly gorgeous 911 Speedster concept Porsche introduced in June has received the green light for production. The sporty, two-seater model was built as part of the firm’s 70th birthday bash, and it will also celebrate the end of the …
- Tesla must defend lawsuit alleging abuse of foreign workers – Reuters: A federal judge has ruled that Tesla must defend itself at a trial over allegations it knew foreign workers at one of its facilities were threatened with deportation if they reported an injury and worked long shifts that violated forced labour laws.
