Japan's IHI Corp. said today it would start selling low-cost lithium ion batteries developed by U.S. company A123 Systems Inc. in Japan in 2010, as it looks to tap surging demand from electric vehicle producers and other manufacturers.
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Chinese automaker Geely Group Holding Co. is Ford Motor Co.'s preferred bidder to purchase Volvo Car Corp.
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BorgWarner Inc. swung into the black during the third quarter on improved sales that neared the supplier's newly-lowered break-even point.
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BorgWarner has reported third quarter net earnings of $17.2m, or $0.15 per diluted share, compared with a loss of $130.4m, or $1.12 a share, in third quarter 2008.
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Visteon Corporation has reported a net loss of US$38m, or 29 cents per share, on total sales of $1.73bn, an improvement on the Q3 2008 net loss of $188m, $1.45 a share, on sales of $2.12bn.
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Ford has told the Canadian Auto Workers that labour costs must come down if the union wants a share of future investment, which the automaker intends to channel to wherever it gets "the biggest bang for its buck," the head of the CAW has said.
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Volkswagen will decide within the next two weeks on whether it will buy insolvent assembler Karmann, chief executive Martin Winterkorn said.
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China's Zhejiang Geely Group Holding Co. is Ford's preferred bidder to purchase Volvo. "Ford believes Geely has the potential to be a responsible future owner of Volvo," Ford Chief Financial Officer Lewis Booth said in a statement.
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Chinese automaker Geely is Ford's preferred bidder to purchase Volvo. "Ford believes Geely has the potential to be a responsible future owner of Volvo," Ford Chief Financial Officer Lewis Booth said in a statement.
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Chinese automaker Geely is Ford's preferred bidder to purchase Volvo. "Ford believes Geely has the potential to be a responsible future owner of Volvo," Ford Chief Financial Officer Lewis Booth said in a statement.
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Ford is the only Detroit automaker with world-class reliability, according to Consumer Reports' 2009 annual car reliability survey.
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Magna thinks it can close a contract to buy a majority stake in carmaker Opel from General Motors even as GM's board weighs its final word, Magna's co-CEO said. "I am convinced that we will sign the contract soon if the EU...agrees.
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Magna thinks it can close a contract to buy a majority stake in carmaker Opel from General Motors even as GM's board weighs its final word, Magna's co-CEO said. "I am convinced that we will sign the contract soon if the EU...agrees.
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Netherlands prime minister Balkenende and Mitsubishi Motors Corporation (MMC) president Osamu Masuko have agreed on MMC support of the country's electric vehicle (EV) promotion programme.
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Ford announced today that a consortium led by Zhejiang Geely Group Holding Co. Ltd. is its preferred bidder in the ongoing discussions concerning the possible sale of Volvo Car Corporation.
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GMAC Financial Services my get a third cash infusion from the US federal government.
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Labour unions at Opel's Spanish plant have called off four strike days after workers on Monday approved a deal with the Magna International-led consortium bidding for a majority stake in the automaker, a union spokeswoman said.
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Moscow has approved plans by AvtoVAZ to cut its work force by 25%, according to business daily Vedemosti.
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Daimler's return to profitability in the third quarter is thanks to crisis management, a turn in the inventory cycle and the new E-Class, according to an analyst who spoke to just-auto.
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The Malaysian government wants to deregulate its auto industry as it tries once again to find an overseas partner for loss-making Proton. On Wednesday, it unveiled its National Automotive Policy which sets a framework to deregulate the industry and end a system of import permits.
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