BMW to recall 11,700 cars after installing wrong engine software

FRANKFURT, Feb 23 (Reuters) - German carmaker BMW said on Friday it would recall 11,700 cars to fix their engine management software after it discovered that the wrong programming had been installed on its luxury 5- and 7-Series models.

UPDATED: 2/23/18 1:12 pm ET - adds details

Chief of China's Geely builds $9 billion stake in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has amassed a stake of 9.69 percent in Daimler AG, the German company said Friday. The stake, worth nearly $9 billion at the current market price for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes Benz cars, trucks and vans.


GM to hire at Oshawa plant despite current production decline, Unifor says

GM Canada will likely hire fewer people than originally thought at its Oshawa assembly plant as a result of cutbacks in car production, a local Unifor official said.

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