Search the Community
Showing results for tags 'Investment'.
-
From the strange bedfellows' file; Hyundai and Kia have announced a joint investment of 80 million Euros (about $90 million) into Croatia-based Rimac Automobili. Rimac may be known to most people for the fast Concept One electric supercar - the vehicle which Richard Hammond had a serious crash when filming The Grand Tour. "The companies will work closely together to develop prototypes for an electric version of Hyundai Motor's N brand midship sports concept car and a high-performance fuel cell electric vehicle. Hyundai Motor Group will leverage the partnership to build on its existing R&am -
From the strange bedfellows' file; Hyundai and Kia have announced a joint investment of 80 million Euros (about $90 million) into Croatia-based Rimac Automobili. Rimac may be known to most people for the fast Concept One electric supercar - the vehicle which Richard Hammond had a serious crash when filming The Grand Tour. "The companies will work closely together to develop prototypes for an electric version of Hyundai Motor's N brand midship sports concept car and a high-performance fuel cell electric vehicle. Hyundai Motor Group will leverage the partnership to build on its existing R&am -
Since the arrest of former Nissan Chairman Carlos Ghosn last month, a fair amount of dirty laundry has come to light showing the turmoil and tension between various executives and the relationship between Nissan and its alliance partner, Renault. The arrest has also brought questions as to whether Ghosn 'jumped' or 'was pushed'. A new report from The Wall Street Journal is adding fuel to the latter. The paper obtained a transcript from a town hall meeting at Nissan's headquarters in Yokohama, Japan - days after Ghosn's arrest. Nissan CEO Hiroto Saikawa revealed that he disagreed with Gho -
Since the arrest of former Nissan Chairman Carlos Ghosn last month, a fair amount of dirty laundry has come to light showing the turmoil and tension between various executives and the relationship between Nissan and its alliance partner, Renault. The arrest has also brought questions as to whether Ghosn 'jumped' or 'was pushed'. A new report from The Wall Street Journal is adding fuel to the latter. The paper obtained a transcript from a town hall meeting at Nissan's headquarters in Yokohama, Japan - days after Ghosn's arrest. Nissan CEO Hiroto Saikawa revealed that he disagreed with Gho
-
General Motors' self-driving unit, Cruise got a huge boost today from Honda. Today at a press conference, the two companies announced a new deal where Honda will invest $2.75 billion ($750 million upfront for a 5.7 percent stake and the remainder to be invested over the next 12 years) and will work together on developing a purpose-built self-driving vehicle. Speaking at GM's technical center in Warren, MI, CEO Mary Barra said Honda would provide "additional engineering, design, and technology expertise" and help assist Cruise's “global reach and the ability to deploy at-scale.” “Togeth
-
General Motors' Cruise Gets A $2.75 Billion Investment From Honda
William Maley posted an article in GM News
General Motors' self-driving unit, Cruise got a huge boost today from Honda. Today at a press conference, the two companies announced a new deal where Honda will invest $2.75 billion ($750 million upfront for a 5.7 percent stake and the remainder to be invested over the next 12 years) and will work together on developing a purpose-built self-driving vehicle. Speaking at GM's technical center in Warren, MI, CEO Mary Barra said Honda would provide "additional engineering, design, and technology expertise" and help assist Cruise's “global reach and the ability to deploy at-scale.” “Togeth -
Yesterday, Moody's Investment Services dropped some bad news on Ford as they have downgraded their credit rating to Baa3 - one rung above speculative grade. Analysis by the investment service said the downgrade "reflects the erosion in the company's global business position and the challenges it will face implementing its Fitness Redesign program." The erosion that Moody's is referring to includes, Profit margins in North America beginning to soften due to higher costs Continuing losses in Europe and concerns of it getting worse due to Brexit Strains in the Chine
-
Yesterday, Moody's Investment Services dropped some bad news on Ford as they have downgraded their credit rating to Baa3 - one rung above speculative grade. Analysis by the investment service said the downgrade "reflects the erosion in the company's global business position and the challenges it will face implementing its Fitness Redesign program." The erosion that Moody's is referring to includes, Profit margins in North America beginning to soften due to higher costs Continuing losses in Europe and concerns of it getting worse due to Brexit Strains in the Chine -
Jaguar Land Rover To Boost Investments To Become Less Dependent on Diesel
William Maley posted an article in Jaguar
Last September, Jaguar Land Rover announced plans to begin electrifying their lineup in 2020. This means electrics, hybrids, and plug-in hybrids. There is a good reason why JLR is doing this. Bloomberg reports that the company is very dependent on diesels in Europe. In the fourth quarter of last year, 87 percent of JLR sales in the region were made up of diesel vehicles - surprising to say in the least as sales of diesels for other brands were dealing due to the Volkswagen diesel emission scandal. But it is starting to hurt Jaguar Land Rover. The company said total sales and revenue through Ma -
Last September, Jaguar Land Rover announced plans to begin electrifying their lineup in 2020. This means electrics, hybrids, and plug-in hybrids. There is a good reason why JLR is doing this. Bloomberg reports that the company is very dependent on diesels in Europe. In the fourth quarter of last year, 87 percent of JLR sales in the region were made up of diesel vehicles - surprising to say in the least as sales of diesels for other brands were dealing due to the Volkswagen diesel emission scandal. But it is starting to hurt Jaguar Land Rover. The company said total sales and revenue through Ma
-
The redesigned Ford Expedition and Lincoln Navigator have been moving quite rapidly off dealer lots. In January, sales of the Expedition rose 59 percent while the Navigator saw a jaw-dropping 132 percent increase. But this is proving to be a problem for Ford as their dealers can't get enough of either model to satisfy consumer demand. A source told Automotive News that CEO Jim Hackett has banned Ford employees from ordering Expeditions and Navigators to help get more out into the world. The source said restricting employees from ordering a mainstream vehicle is very rare. "We could have s
-
The redesigned Ford Expedition and Lincoln Navigator have been moving quite rapidly off dealer lots. In January, sales of the Expedition rose 59 percent while the Navigator saw a jaw-dropping 132 percent increase. But this is proving to be a problem for Ford as their dealers can't get enough of either model to satisfy consumer demand. A source told Automotive News that CEO Jim Hackett has banned Ford employees from ordering Expeditions and Navigators to help get more out into the world. The source said restricting employees from ordering a mainstream vehicle is very rare. "We could have s -
Tesla is known for building quick vehicles, but they're also known for burning through a lot of cash. Bloomberg recently crunched some numbers on how fast Tesla goes through money and the amount is quite shocking. According to their data, Tesla has been burning through $8,000 per minute (about $480,000 in an hour) for the past 12 months. At this rate, Bloomberg predicts that Tesla could run out of money by next August. Tesla spending money like it is going out of style is not all that surprising. The automaker is trying to ramp up production of the Model 3 along with dealing with var -
Tesla is known for building quick vehicles, but they're also known for burning through a lot of cash. Bloomberg recently crunched some numbers on how fast Tesla goes through money and the amount is quite shocking. According to their data, Tesla has been burning through $8,000 per minute (about $480,000 in an hour) for the past 12 months. At this rate, Bloomberg predicts that Tesla could run out of money by next August. Tesla spending money like it is going out of style is not all that surprising. The automaker is trying to ramp up production of the Model 3 along with dealing with var
-
Ford dropped a few bombshells this morning at a press conference in Flat Rock, MI. The big one was the American automaker dropping plans to build $1.6 billion assembly plant in Mexico (which was in the early stage of construction). Instead, Ford will invest $700 million into their Flat Rock that will add 700 jobs to the plant. “We look at all factors and in our view, we see a more positive U.S. manufacturing environment under President-elect Trump and the pro-growth policies and proposals that he’s talking about. So this is a vote of confidence for President-elect Trump and some of the pol
-
Ford Cancels Plans For Mexico Plant, Invest $700M At Flat Rock, and More
William Maley posted an article in Ford
Ford dropped a few bombshells this morning at a press conference in Flat Rock, MI. The big one was the American automaker dropping plans to build $1.6 billion assembly plant in Mexico (which was in the early stage of construction). Instead, Ford will invest $700 million into their Flat Rock that will add 700 jobs to the plant. “We look at all factors and in our view, we see a more positive U.S. manufacturing environment under President-elect Trump and the pro-growth policies and proposals that he’s talking about. So this is a vote of confidence for President-elect Trump and some of the pol -
It hasn't been a good couple of years for workers General Motors' Orion Assembly, home to the Buick Verano and Chevrolet Sonic. Last year, GM laid off 150 workers. This was followed by GM eliminating a shift at the plant this year due to weak demand for small cars. Yesterday, another dose of bad news hit the plant. Both Automotive News and Detroit Free Press report a $245 investment announced last year for the plant has been shifted to GM's Fairfax, Kansas - home to the Chevrolet Malibu and Buick LaCrosse production. A GM spokeswoman tells Automotive News that workers were told about t -
It hasn't been a good couple of years for workers General Motors' Orion Assembly, home to the Buick Verano and Chevrolet Sonic. Last year, GM laid off 150 workers. This was followed by GM eliminating a shift at the plant this year due to weak demand for small cars. Yesterday, another dose of bad news hit the plant. Both Automotive News and Detroit Free Press report a $245 investment announced last year for the plant has been shifted to GM's Fairfax, Kansas - home to the Chevrolet Malibu and Buick LaCrosse production. A GM spokeswoman tells Automotive News that workers were told about t
-
General Motors Forms Alliance With Lyft, Invests $500 Million
William Maley posted an article in GM News
General Motors announced this morning a new alliance with ride-sharing company Lyft to develop an on-demand network of autonomous vehicles. GM has also invested $500 Million into Lyft as part of a round of a $1 billion round of fund-raising - one of the largest investments GM has made into a company. Lyft is a ride-sharing company that connects passengers who need a ride with those who have a car via an app. The app also automates payments to drivers. The goal of two companies is to build out a network of hubs around the U.S. where people can summon an autonomous vehicle via Lyft's app -
General Motors announced this morning a new alliance with ride-sharing company Lyft to develop an on-demand network of autonomous vehicles. GM has also invested $500 Million into Lyft as part of a round of a $1 billion round of fund-raising - one of the largest investments GM has made into a company. Lyft is a ride-sharing company that connects passengers who need a ride with those who have a car via an app. The app also automates payments to drivers. The goal of two companies is to build out a network of hubs around the U.S. where people can summon an autonomous vehicle via Lyft's app
-
Ford Plans To Invest $4.5 Billion Into Electric and Hybrid Vehicles By 2020
William Maley posted an article in Ford
Ford announced yesterday a massive investment for electric and hybrid vehicles. Mark Fields, CEO of Ford says the company plans on spending $4.5 billion by 2020 to bring out 13 electric and hybrid models, increasing the current percentage of electric and hybrid models from 13 to 40 percent. Now this announcement comes at an interesting time as sales of electric and hybrid vehicles are dropping due to low gas prices. According to Autodata Corp, sales of Ford's hybrids through November dropped 25 percent to 59,301 vehicles. The Nissan Leaf saw sales drop 41 percent through November. “Cer -
Ford announced yesterday a massive investment for electric and hybrid vehicles. Mark Fields, CEO of Ford says the company plans on spending $4.5 billion by 2020 to bring out 13 electric and hybrid models, increasing the current percentage of electric and hybrid models from 13 to 40 percent. Now this announcement comes at an interesting time as sales of electric and hybrid vehicles are dropping due to low gas prices. According to Autodata Corp, sales of Ford's hybrids through November dropped 25 percent to 59,301 vehicles. The Nissan Leaf saw sales drop 41 percent through November. “Cer
-
Last week, Volvo announced that will be building a factory in South Carolina that will go online in 2018 and build 100,000 vehicles per year. Quite ambitious considering the brand only sold 56,366 vehicles in the U.S. last year. But the plant is part of a new comeback plan for Volvo. "We have reinvented ourselves and we believe it now makes sense to go on the attack again in the United States," said Lex Kerssemakers, CEO of Volvo Cars of North America. Now you might be scratching your head, wondering how a plant that will build more cars than Volvo actually sells at the moment will hel
-
Last week, Volvo announced that will be building a factory in South Carolina that will go online in 2018 and build 100,000 vehicles per year. Quite ambitious considering the brand only sold 56,366 vehicles in the U.S. last year. But the plant is part of a new comeback plan for Volvo. "We have reinvented ourselves and we believe it now makes sense to go on the attack again in the United States," said Lex Kerssemakers, CEO of Volvo Cars of North America. Now you might be scratching your head, wondering how a plant that will build more cars than Volvo actually sells at the moment will hel -
Opel Says Goodbye To China, Plans To Build A Buick Model In 2015
William Maley posted an article in Opel/Vauxhall
General Motors' troubled brand, Opel announced some major changes this past week. For starters, the company announced that it would be pulling out of China in January of 2015. The German marque said poor sales was the major reason as to the brand's departure. In 2013, Opel only sold 4,365 vehicles through twenty-two dealers. That pales in comparison to Buick which moved 810,000 vehicles through 650 dealers. "This is a long overdue decision. It would have cost hundreds of millions of euros to raise awareness of the Opel brand and to expand the distribution network. Buick, however, is one of th
