Porsche AG’s potential IPO will benefit from being part of the Volkswagen Group, said CEO Oliver Blume. “We feel very comfortable in the Volkswagen Group, we can profit from synergies. The important thing in this time is to focus on… Read More ›
car
Zurich Insurance Group AG in advanced negotiations to acquire MetLife Inc’s car and home insurance business for $4 billion
According to sources familiar with the matter at hand, Zurich Insurance Group AG is in advanced negotiations to acquire MetLife Inc’s property and casualty (P&C) car and home insurance business for around $4 billion. Late on Friday, Zurich Insurance issued a statement… Read More ›
Volkswagen Group stops Russian production due to supply shortage from Europe
On Tuesday, Volkswagen Group Rus stated, the carmaker will suspend car production in Russia following a supply shortage caused by the Wuhan coronavirus outbreak in Europe. Volkswagen Group Rus will stop production at its Russian plant from March 30 to… Read More ›
China’s Great Wall Motor to purchase General Motors’ Thailand car plant
On Monday, China’s Great Wall Motor stated it had signed a binding agreement to purchase General Motors’ car plant in Thailand. General Motors is retreating from markets outside of the United States and China and is winding down designs, sales… Read More ›
Tesla gets $1.4 billion loan from Chinese banks for its Shanghai factory
According to three sources familiar with the matter at hand, Tesla Inc has entered into $1.4 billion (10 billion yuan) loan agreement with a group of Chinese banks, for its Shanghai car plant. Part of this amount will be used… Read More ›
Austrian sensor specialist AMS triggers bidding war for Osram
The acquisition makes sense for AMS since it sees synergy with Osram sensor solutions and photonics businesses especially in the emerging self-driving market. Austrian sensor specialist AMS’ offer to acquire Germany’s Osram has trigerred a bidding war for the German… Read More ›
German institutes warn of major recession in EU and Germany if trade conflict with the U.S. escalates
Germany, the EU’s biggest economy, thrives on its exports of cars to the U.S. EU’s retaliatory measures could also significant slow down the U.S. economy if not trigger a major recession there. On Thursday, leading economic institutes from Germany disclosed,… Read More ›
‘No Brexit’ deal will have a devastating impact on the car industry
British and EU’s carmakers will feel the effect of a cliff hanger Brexit. With Brexit’s March 29 deadline fast approaching and faced with growing fears of a cliffhanger exit , Britain’s carmakers have triggered some of their Brexit contingency plans,… Read More ›
U.S. aims to target Chinese goods $500 billion
U.S. efforts aimed at balancing its trade deficit with China, could significantly impact its strategic “Made in China 2025” policy. A reduction in Beijing’s global trade surplus is likely to have wide ranging cascading effects on its economy and its… Read More ›
Ericsson and Telefonica showcase prowess of 5G wireless networks
They showcased the technological capability of the upcoming 5G standard by remotely navigating a car through an obstacle course using 5G wireless networks. With autonomous vehicles set to be the norm in the near future, during an industry conference in… Read More ›
manageria.biz 