- Ford close to JV deal with Mahindra in India – Reuters: Ford Motor Co and Mahindra & Mahindra are likely to sign a deal next week to form a joint venture in India, two sources told Reuters, in a move that will see the U.S. carmaker end most of its independent operations in the country.
- Toyota prepares next Mirai fuel cell car for 2020 launch – Automotive News: Toyota expects the price of fuel cell cars to match those of hybrids within 10 years.
- NIO Is More China’s WeWork Than Its Tesla Killer – Bloomberg: NIO Inc., a Chinese electric-vehicle maker that was talked up as a potential Tesla Inc.-killer before its $1.15 billion initial public offering last year, …
- The 2020 presidential race gives UAW powerful bargaining chip in GM strike – CNBC: The 2020 presidential race is becoming an unexpected tool for the United Auto Workers in its strike against General Motors.
- Rheinmetall, Voith vie for Volkswagen’s transmissions maker Renk – Reuters: German auto and defence supplier Rheinmetall and engineering group Voith are vying for transmissions maker Renk, which Volkswagen has put up for sale to free up funds for investment in electric vehicles, people close to the matter said.
- Aston Martin rating cut deeper into junk amid Brexit, tariff worries – S&P – Reuters: Ratings agency Standard & Poor’s has cut its credit rating on storied carmaker Aston Martin Lagonda Holdings deeper into junk territory on Wednesday amid concerns over the UK’s exit from the European Union and threat of U.S. tariffs.
- Aston Martin Tumbles as Pricey $150 Million Bond Sale Gives Investors Licence to Sell – Barrons: Aston Martin ‘s struggling stock has tumbled lower after the luxury car maker raised $150 million in expensive debt. The firm, famous for its association …
- VW workers applaud chairman despite indictment – Reuters: Volkswagen workers applauded Chairman Hans Dieter Poetsch at a mass meeting of employees at its headquarters on Wednesday, according to a participant, as staff appeared to close ranks behind its senior managers, three of whom have been indicted.
- Fast-Approaching Brexit Deadline Spurs Pound-Bond Sales Rush – Bloomberg: BMW and Just Life among six borrowers offering sterling bonds.
- Volvo Cars starts to detail XC40 EV | Automotive Industry News | just-auto – Just-Auto: The automaker claimed that, keeping with tradition, it is also introducing “one of the safest cars on the road, despite a *fresh* set of challenges presented by the …
- S.Korea’s Myongshin to build EVs for Chinese brand at ex-GM plant – Reuters: South Korea’s Myongshin has agreed to build more than 50,000 electric vehicles a year for Chinese venture Future Mobility Corp (FMC) at a closed plant it bought from General Motors.
- Subaru of Indiana Automotive (SIA) builds vehicle #6m – Just-Auto: Subaru of Indiana Automotive (SIA) has produced its six millionth vehicle, a 2020 Subaru Legacy.
- Another Shocker From China’s ‘Tesla Killer’ – Wall Street Journal: China’s answer to Tesla is in the breakdown lane. The company, New York-listed electric-vehicle maker NIO Inc., said it lost $483 million last quarter, …
- South Korea’s Myongshin to build EVs for Chinese brand at ex-GM plant – Reuters: South Korean auto parts maker Myongshin, which bought a shuttered General Motors’ factory, has agreed to supply more than 50,000 electric vehicles a year to Chinese venture Future Mobility Corp (FMC).
- Renault ready to be part of a European batteries project: chairman – Reuters: Renault is ready to be part of a European batteries project provided it makes economic sense to do so, the French carmaker’s chairman said on Wednesday.
- Aston Martin fundraise takes liquidity concerns off the table – CEO – Reuters: The chief executive of luxury carmaker Aston Martin said securing $150 million in short-term debt, with an option for another $100 million, would address concerns in the market about the company’s balance sheet.
- Aston Martin faces steep borrowing cost in $150m bond sale – FT: Aston Martin was forced to pay steep borrowing costs as it raised $150m in a bond sale to cushion it against Brexit and help support the business until the …
- Nio plans deep job cuts as losses pile up – Automotive News: Nio, China’s answer to Tesla, posted a worse-than-expected quarterly loss, triggering job cuts and increasing concerns that a bubble in the world’s largest EV …
- Chinese EV Maker Backed by Buffett Explores IPO of Electronic-Component Unit – Bloomberg: BYD Co., the Chinese electric-carmaker backed by Warren Buffett, … The company is also hiving off its vehicle-battery operations into a separate … China’s sales of electrified vehicles fell for a second straight month in …
- Maruti trims prices after government cuts corporate taxes – Reuters: Top Indian automaker Maruti Suzuki said on Wednesday it lowered prices of some cars, making it one of the first major companies to respond to the government’s move to cut corporate taxes in a bid to revive economic growth.
- Maruti Suzuki Cuts Prices Of Some Cars After Corporate Tax Cut – Bloomberg: The measure, Maruti Suzuki said in an exchange filing Wednesday, is aimed at passing benefits of the corporate tax cut to customers, amid the auto …
- Indian carmaker Maruti trims prices after govt cuts corporate taxes – Reuters: Indian carmaker Maruti trims prices after govt cuts corporate taxes ReutersTop Indian automaker Maruti Suzuki said on Wednesday it lowered prices of some cars, making it one of the first major companies to respond to the …
- Toyota preparing next-gen Mirai fuel-cell car for 2020 launch: chairman – Reuters: Toyota Motor Corp is preparing to launch the second generation of its Mirai fuel-cell car next year, Chairman Takeshi Uchiyamada said on Wednesday.
- Ford to Put Struggling India Business Into Venture With Mahindra – Bloomberg: Ford Motor Co. is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd. after failing to make meaningful inroads for more than …
