WAP ANE Breaking

ChemChina hopes to re-list Pirelli in Italy; says counterbid will hurt investors

March 30, 2015 09:14 CET

The chairman of China National Chemical Corp (ChemChina), Ren Jianxin, said he hopes to re-list Italy's Pirelli on the Italian stock exchange. A counterbid for Pirelli would hurt the Italian firm's investors and long-term strategy, he warned.... Read More »

Renault increases Zoe EV's range by 30km

March 27, 2015 06:01 CET

Renault has extended the range of its battery powered Zoe subcompact hatchback by 30km to 240km (149 miles) to help boost sales.... Read More »

Dutch regulators raid Uber over court ruling compliance

March 27, 2015 11:41 CET

A Dutch regulatory agency raided the Amsterdam offices of ride-sharing service Uber in connection with its UberPOP unit after a court deemed it illegal in December.... Read More »

Valeo's self-driving systems learn from military drones

March 27, 2015 17:55 CET

Valeo plans to draw on drone software and other military technologies from partner Safran to offer self-driving vehicle platforms to carmakers by the end of the decade.The French supplier said the first applications may reach automaker customers within three years.... Read More »

PSA picks France factory over Spain for engine production expansion

March 27, 2015 09:47 CET

PSA said it has chosen a French factory over a rival Spanish plant to expand engine production. PSA will upgrade its Tremery site to produce the turbocharged version of a three-cylinder engine already manufactured there. The plant beat out PSA's factory in Vigo, Spain, for the additional 200,000 engines a year.... Read More »

Jaguar Land Rover names new global engineering chief

March 27, 2015 17:11 CET

Jaguar Land Rover named company veteran Nick Rogers as its new engineering director to succeed Wolfgang Ziebart. Rogers will assume board-level responsibilities for the UK automaker's global engineering operations, reporting directly to CEO Ralf Speth, JLR said.... Read More »

Mercedes plans to launch its first pickup by 2020

March 27, 2015 13:40 CET

Daimler's Mercedes unit plans to launch its first pickup truck by 2020, targeting sales at the European, Latin American, Australian and South African markets. The pickup will contribute to the brand's global growth targets, Daimler CEO Dieter Zetsche said.... Read More »

Ghosn's pay increase criticized by Renault union

March 27, 2015 09:23 CET

Renault's biggest trade union, the CGT, criticized the automaker's proposal to more than double CEO Carlos Ghosn's 2014 pay package to 7.22 million euros ($7.85 million). Renault, which is cutting 7,200 jobs in France, says Ghosn's higher earnings are tied to the company's profit increase.... Read More »

PSA, Mitsubishi cuts jobs in Russia, halt output again

March 27, 2015 11:06 CET

PSA and Mitsubishi will halt production at their joint venture plant in Russia for the second time this year and cut 100 jobs.... Read More »

Pirelli CEO sees strong future with ChemChina, no talks on counterbid

March 27, 2015 12:07 CET

Pirelli has a strong future with China National Chemical Corp. and is not talking to others about a possible counterbid, CEO Marco Tronchetti Provera said. ChemChina agreed to become the majority owner of the world's fifth-largest tire maker in an $8 billion deal. The market speculated that Bridgestone could be putting together a counterbid.... Read More »

Pininfarina investor confirms India's Mahindra is interested in buying Italian design company

March 26, 2015 11:39 CET

Pininfarina's controlling shareholder, Pincar, confirmed that India's Mahindra & Mahindra has expressed interest in buying the Italian car designer. Mahindra is one of heavily indebted Pininfarina's most important customers.... Read More »

German court dismisses hedge funds' suit against Porsche holding company

March 26, 2015 16:21 CET

A German court has dismissed claims brought against Porsche SE by hedge funds seeking $1.3 billion in damages over its botched attempt to take over Volkswagen in 2008.... Read More »

Ford aims to triple exports from India with new plant

March 26, 2015 10:09 CET

Ford has invested $1 billion in a new plant in India that will help the automaker triple exports from the country. The factory will build the EcoSport subcompact SUV, which Ford exports to Europe.... Read More »

2015 NEW YORK AUTO SHOW

McLaren aims 570S at high-end Porsche 911, Audi R8

March 26, 2015 12:50 CET

McLaren has named the first of its entry-level supercars the 570S. The V-8 powered coupe will compete against high-end versions of the Porsche 911 and Audi R8.... Read More »

Tesla sued in UK in fight over charging stations rollout

March 26, 2015 11:06 CET

Tesla was sued in London in a dispute over whether the company interfered with a competitor's plan to rollout electric-car chargers at UK highway rest stops. Renewable energy supplier Ecotricity claims Tesla tried to induce companies to breach agreements for exclusive charging points. Tesla countersued accused Ecotricity acting abusively in its dominant position as a supplier.... Read More »

Schaeffler's 2014 profit rises by more than half

March 26, 2015 13:09 CET

German part supplier Schaeffler said its operating profit jumped by more than 50 percent to 1.52 billion euros ($1.67 billion) in 2014 because of robust demand for cars in U.S. and China. Its operating margin climbed to 12.6 percent in 2014 from 9.0 percent in 2013.... Read More »

Delphi employees killed in France plane crash

March 25, 2015 12:26 CET

Two Spain-based Delphi employees were among the 150 victims of a plane crash in a remote part of the French Alps. The employees were traveling to a meeting in Germany.... Read More »

Tata plans to raise $1.2 billion to help fund Jaguar Land Rover expansion

March 25, 2015 17:52 CET

Tata Motors plans to raise as much as $1.2 billion in a rights offer to help fund investments at its Tata and Jaguar Land Rover brands. Jaguar Land Rover plans to add more than 40 new products and to increase manufacturing capacity in the UK, in China, Brazil and other markets.... Read More »

Automakers race to double the driving range of affordable electric cars

March 25, 2015 12:06 CET

Automakers are readying a new generation of mass-market electric cars with more than double the driving range of today's Nissan Leaf, betting that breakthroughs by battery suppliers will increase demand and help them compete better with Tesla.... Read More »

Renault seeks fresh start with single model to replace Laguna and Latitude midsize cars

March 25, 2015 11:33 CET

Renault will replace its slow-selling Laguna and Latitude midsize cars in Europe later this year with a single model in a bid to get a fresh start against rivals such as the Volkswagen Passat and Peugeot 508.... Read More »

Jaguar unveils new XF; touts sedan's good looks, fuel efficiency

March 24, 2015 17:09 CET

Jaguar says its new XF sedan has taken a big leap in levels of refinement, low weight and fuel efficiency. The brand unveiled the second generation of its best-seller with a high-wire stunt drive in London.... Read More »

Mercedes plant has highest per-hour labor cost in U.S.; VW and BMW pay least

March 24, 2015 10:42 CET

Workers at Daimler's Mercedes-Benz plant in Vance, Alabama, have the highest hourly pay among employees at U.S. car factories while Volkswagen and BMW workers earn the least, a study shows.... Read More »

BMW CEO sees EV initiatives helping i3 sales in key markets

March 24, 2015 06:01 CET

BMW CEO Norbert Reithofer sees political initiatives in a number of the carmaker's key markets as important in helping to boost sales of the i3 electric car.... Read More »

Volkswagen will cut production, jobs at Russian plant

March 23, 2015 11:55 CET

Volkswagen said it will reduce shifts and lay off at least 150 workers at its car plant in Kaluga, Russia, as demand shrinks. The company builds Audi, VW and Skoda cars in Kaluga.... Read More »

Russia boosts auto industry aid to $424 million

March 23, 2015 17:24 CET

Russia plans to spend more than 25 billion rubles ($424 million) in state funds to support its ailing auto industry, increasing the amount of aid it allocated last week.... Read More »

 
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