German carmaker Daimler said on Sunday it was increasing its share capital by 10 percent to allow Abu Dhabi's Aabar Investments PJSC to become a major investor in the company. Aabar was acquiring all the new shares in a total investment of 1.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
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Heavily-indebted German supplier Schaeffler Group has presented a restructuring plan to its creditor banks, co-owner Georg Schaeffler said in an interview with Der Spiegel magazine released on Saturday.
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The big German automakers may not show up in October for the Tokyo motor show.
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Analysts today said Daimler's move to raise billions of euros in fresh capital shows how badly European automakers need cash in the current weak economic climate. Daimler said on Sunday it will raise 1.95 billion euros ($2.
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France's Renault opposes the idea of issuing new AvtoVAZ shares because the move would dilute its 25 percent stake in the struggling Russian carmaker, Renault's regional chief said on Friday.
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Ford Motor Co. and its dealers will spend the next several weeks brainstorming ways to save money. The aim is to trim expenses and streamline operations for both Ford and the dealers.
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Volkswagen's Czech brand Skoda said it has postponed its plans to enter the ASEAN market, which includes Malaysia, Thailand, Indonesia and the Philippines and has annual sales of about 1.8 million vehicles.
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Daimler will raise 1.95 billion euros ($2.67 billion) in fresh capital through the sale of a 9.1 percent stake to Abu Dhabi's Aabar Investments PJSC the two companies said on Sunday. Some 96.
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BMW is searching for a technology partner for its hybrid car batteries, said Klaus Draeger, the company's head of rand#38;d.
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British van maker LDV has warned that it will have to call in administrators within days if it does not get a loan from the taxpayer, but the government stuck to its view that its Russian parent should bail it out.
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German Economy Minister Karl-Theodor zu Guttenberg said on Saturday he was talking to potential investors in General Motors' Opel unit, rejecting a media report saying there were no serious bidders yet.
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The big German automakers may not show up in October for the Tokyo motor show.
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The German government is not aiming to take a stake in troubled carmaker Opel, but may give the General Motors' unit aid to help it survive, Chancellor Angela Merkel said on Sunday.
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Kroymans Corp., General Motors' European distributor for Cadillac cars, has won court approval to suspend debt payments for four of its business units.
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Labor leaders at troubled German carmaker Opel would oppose a takeover by an investor who was only interested in getting its hands on the company's technical expertise, works council boss Klaus Franz said.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
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This small Buick sedan, based on General Motors' re-engineered front-drive Delta architecture, is heading for China -- and might appear on U.S. roads in 2011.
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Since its improbable beginnings in America selling motorcycles 50 years ago, and cars 40 years ago, Honda has thrived by doing the unexpected, time after time. Take Honda's first U.S. car, the N600.
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