Kia plans to invest 110.5 million euros into building a new engine plant in Slovakia, a government document says. The document, posted on the government Web page, said the company had applied for a tax break worth 15 million euros for the plan.
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General Motors' factories in Russia will be transferred to Opel under the control of a Russian-backed consortium led by Magna Interational, the head of Sberbank said. Sberbank is planning to take a 35 percent stake in Opel.
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Magna International plans to improve Opel's annual earnings by $3.3 billion over the next five years as part of a business plan to take over the European carmaker, the Frankfurter Rundschau newspaper reported. A forecast $2.
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Russia's Sberbank and iMagna International will give Opel a 500 million euro ($708.4 million) cash injection to help the automaker save jobs while totally restructuring its assets abroad.
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Beijing Automotive Industry Holding (BAIC) has mandated PricewaterhouseCoopers to advise on a possible takeover of Opel, a source familiar with the situation said on Thursday.
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Mitsubishi Motors Corp. has priced its new electric vehicle at and#165;4.38 million, or $45,660 at current exchange rates, and wants EVs to account for 20 percent of its global output by 2020.
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Minnesota dealer and auto entrepreneur Denny Hecker filed for personal bankruptcy Thursday, climaxing a seven-month collapse of his auto empire.
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Minnesota dealer and auto entrepreneur Denny Hecker filed for personal bankruptcy Thursday, climaxing a seven-month collapse of his auto empire.
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BLAINVILLE, QC - The Government of Canada today announced that road users in Canada will benefit from $14.2 million in improvements at Transport Canada's Motor Vehicle Test Centre in Blainville, Quebec.
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Italian Flavio Briatore on Friday dismissed small teams vying for budget-capped spots on next year's formula one grid as "shell companies".
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Team McLaren-Mercedes proved a factor in the second free practice session for the Grand Prix of Turkey with Heikki Kovalainen dominating the timesheets for much of the session.
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Canada's auto dealers and manufacturers have called on the federal government to help strengthen Canadians' confidence and the Canadian economy by introducing an aggressive "scrappage" program aimed at stimulating new vehicle sales while removing higher-emitting, less-safe vehicles from the road.
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It's a shame GM has to let Saturn go. The brand has one of the freshest model lineups in the marketplace, some great designs, a European-based model or two and plenty of potential.
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German driver Sebastian Vettel has expressed skepticism about some of the names that are bidding to set up formula one teams for 2010.
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The legal dispute between 2010 British GP venue Donington's leaseholder and owner has been settled out of court.
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Auto Dealers and Manufacturers across Canada call for an aggressive "scrappage" program to stimulate our economy.
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General Motors Corp. and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the customer-focused Saturn brand.
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For the United Nations' World Environment Day on 5 June in Mexico City, the Michelin Group has prepared a report on savings generated by its most recent car and truck tyre ranges since their launch in 2008.
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Team AT&T Williams-Toyota driver Nico Rosberg set the fastest time of the first free practice session of the Grand Prix of Turkey this morning at the Istambul Autodrom.
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British driver Jenson Button in Turkey refused to admit he is already thinking about improving the terms of his current contract.
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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