Volkswagen aims to raise between 1.6 billion and 1.9 billion euros ($2.1 billion) by listing between 10 and 11.5 percent of the capital for its truck division Traton on the stock market.
Nissan, a long-time Renault partner, has been left sidelined by a potential tie-up between the French firm and Fiat-Chrysler, just as the beleaguered Japanese firm battles to recover from the arrest of former boss Carlos Ghosn.
Italian-US auto giant Fiat Chrysler presented a merger proposal to France’s Renault on Monday that would create the world’s third largest automaker.
French auto giant Renault and Italian-US counterpart Fiat Chrysler are planning to announce an alliance, further reshaping Europe’s auto sector which has already witnessed two decades of takeovers, alliances and break-ups.
French carmaker Renault is in talks with Fiat Chrysler Automobiles with the long-term prize a world-leading alliance including Japan’s Nissan and Mitsubishi, reports say.
US ride-hailing giant Uber is to pay more than 2.3 million euros to settle a Dutch criminal probe into the breach of local taxi laws, prosecutors said Friday.
Electric carmaker Tesla has won more than $520 million in loans from Chinese banks to build its first overseas car plant near Shanghai, the first foreign automaker to wholly own a factory in China.
Tesla is planning to unveil a new electric “crossover” vehicle March 14 which is slightly bigger and more expensive than its most affordable model, according to chief executive Elon Musk.
Tesla will only sell its electric cars online as it accelerates its cost cutting so it can realize its long-running goal of selling a mass-market sedan for $35,000.
Germany top court on Friday backed Volkswagen owners’ claims against the firm over cars rigged to cheat regulatory emissions tests, in an opinion that could guide lower courts’ rulings.
Crisis-hit Japanese automaker Nissan slashed its full-year forecast Tuesday as nine-month net profit dropped 45 percent in the first earnings report since the stunning arrest of former chairman Carlos Ghosn.
Struggling with a sagging stock price and sluggish sales, US car giant Ford took steps to regain its footing this week with the announcement of a massive restructuring effort in Europe—even as it prepared for an imminent strategic partnership with Germ…
South Korea said Monday it will fine German automaker BMW 11.2 billion won ($10 million) for allegedly dragging its feet in recalling cars with faulty engines linked to dozens of engine fires.
General Motors’ planned shutdown of its Detroit-Hamtramck plant would leave only one auto assembly factory in the city known for “putting America on wheels,” but the closure and job losses are not expected to stall-out Detroit’s comeback since its 2014…
Tokyo prosecutors have decided to indict Nissan as well as its former chairman Carlos Ghosn and another executive as early as next week over alleged financial misconduct, a report said Friday.