Mercedes plots Tesla attack with $1bn U.S. Electric Push
Businessam Staff
September 22, 2017
Daimler AG plans to spend $1 billion to start production of Mercedes-Benz electric vehicles at its Alabama factory, setting the world’s largest luxury-car maker up to battle with battery-car specialist Tesla Inc. on its home turf The German automaker will build its fifth battery plant globally and create more than 600 jobs in the region, the company said […]
Ford boosts its drive for electric cars in China with Zotye Venture
Businessam StaffAugust 23, 2017
Ford Motor Co. said it will explore setting up a joint venture to produce electric vehicles in China with Anhui Zotye Automobile Co. as manufacturers step up their investments in lower-emission cars in the world’s biggest auto market. The proposed equally owned joint venture will sell EVs under a new local brand, with details to […]
Mitsubishi to export new model from Indonesia next year, supply Nissan
Businessam StaffAugust 10, 2017
Mitsubishi Motors Corp will start exporting its new multi purpose vehicle from its Indonesian plant next year, and plans to eventually supply the model to the group’s new parent Nissan Motor, Mitsubishi’s chief executive said. Mitsubishi on Thursday launched the “Xpander”, a new 1.5 liter MPV model, at a car show in Tangerang, on the […]
GE stock falls to lowest level in 19 months after report shows 12% drop in revenue
Businessam StaffJuly 21, 2017
General Electric stock skid Friday to its lowest level in 19 months after the company saw a 12 percent drop in revenue from a year earlier. It was GE’s final quarterly earnings report before John Flannery replaces Jeff Immelt as CEO next month. Share prices were down as much as 5 percent after GE’s earnings […]
Japanese airbag maker Takata files for bankruptcy, gets U.S. sponsor
Businessam StaffJune 26, 2017
Japan’s Takata Corp, the firm at the centre of the auto industry’s biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6 billion by U.S.-based Key Safety Systems. In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of dollars […]
Jaguar Land Rover to hire 5,000 staff in Brexit boost
Businessam StaffJune 19, 2017
Britain’s biggest carmaker Jaguar Land Rover (JLR) (TAMO.NS) will hire 5,000 staff as it boosts its skills in autonomous and electric technology, a welcome business endorsement as Prime Minister Theresa May starts Brexit talks after a botched election. JLR, which employs more than 40,000 people globally, said it would hire 1,000 electronic and software engineers […]