Fiat Chrysler is pressing ahead with the spin-off of its parts maker, Magneti Marelli, a spokesman confirmed after reports investment firm KKR was in talks to acquire the unit.
Private equity firm KKR is in talks to acquire Fiat Chrysler's car-parts business to add to its portfolio of automotive companies, people familiar with the matter told Bloomberg.
Private equity firm KKR is in talks to acquire Fiat Chrysler's car-parts business to add to its portfolio of automotive companies, Bloomberg reported.
Fiat Chrysler confirmed plans to spin off parts maker Magneti Marelli following media reports investment firm KKR was in talks to acquire the unit.
Continental cut its 2018 sales and margin guidance, citing lower revenues, higher costs for developing hybrid and electric car technologies, and unspecified warranty claims.
Continental's disappointing sales in China and Europe forced the car-parts maker to cut its revenue forecast. In addition, spending on new technology is weighing on profitability. Shares plunged the most since 2009.
Daimler is in advanced talks to buy a stake in Heycar, a used-car portal set up last year by Volkswagen.
Daimler is in advanced talks to buy a stake in Heycar, a used-car portal set up last year by Volkswagen.
PSA's Opel/Vauxhall has announced "a preview of the exciting future of the brand" with a new concept car called the Opel (or Vauxhall) GT X Experimental - a 4.06m, five-door, all-electric compact SUV "with coupe appeal" claimed to be "brimming with innovative ideas".
Witte Automotive (Velbert) has taken an unspecified share in Prague-based, Institute of Microelectronic Applications (IMA), a developer of electronic identification systems.
Hyundai has completed South Korea's first domestic highway journey with an autonomously navigated semi-trailer truck.
Britain's Road Haulage Association (RHA) says French authorities are not doing enough to protect hauliers driving into the Northern French port of Ouistreham, near Caen.
Tesla CEO Elon Musk has sacrificed sleep and worked into the early hours because of the company's production problems. But for five days this summer, Tesla survived without him when he attended his brother's wedding in Spain.
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22 Aug, 2018
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Renault has released a teaser photo of the Arkana, a compact crossover for global markets that will go on sale in Russia next year.
Geely Automobile Holdings surpassed its top three Japanese rivals in vehicle sales to become the third-largest automaker in China after VW Group and GM, helped by models that appeal to the nation's young consumers.
Opel is marking its ownership switch from General Motors to PSA Group with a new design language it calls "pure and bold." The GT X Experimental concept previews the automaker's pure, high tech styling that will appear in its models in the mid-2020s.
Volkswagen plans to fire a group of engineers and managers -- including former VW brand development chief Heinz-Jakob Neusser -- implicated in the automaker's diesel emissions-cheating scandal, German press reports said.
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