Category: Auto

Auto

Ferrari will unveil V-8 hybrid supercar this year

MILAN — Ferrari plans to unveil a mid-engine supercar this year that is expected to have a hybrid drivetrain. CEO Louis Camilleri confirmed the car’s 2019 debut on an earnings call on Jan. 31 but gave no further details. A source familiar with the project said the car will have a V-8 gasoline engine coupled […]

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Ford, VW discuss $4 billion value for Argo AI, report says

Ford Motor Co. and Volkswagen Group are progressing toward a potential agreement to join forces on self-driving cars and have overcome earlier obstacles, people familiar with the talks told Bloomberg. Breakthroughs in the deliberations Thursday include a possible framework for Volkswagen to work with and invest in Argo AI, the Ford-backed autonomous-vehicle startup, said the people, […]

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Ford CFO Shanks plans to retire, report says

Ford Motor Co. Chief Financial Officer Bob Shanks plans to retire and is expected to stay through the end of the year, CNBC reported on Thursday, citing sources. Shanks turned 66 years old last month. A new finance chief is likely to be announced in the second half of this year, CNBC said.  Shanks was […]

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Ontario releases plans for encouraging auto investment

TORONTO — Canada’s Ontario government on Thursday released its plan to support the automotive sector, promising to assist suppliers, boost high-tech skills training and revamp how the province attracts investments. According to a copy of the “Driving Prosperity” plan obtained by Automotive News Canada, the government would seek to maintain current production volume in Ontario […]

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Bentley revs up Bentayga with Speed variant

Bentley Motors, facing more rivals in the ultraluxury SUV market, plans to introduce a high-performance version of the Bentayga at next month’s Geneva auto show as the ultraluxury automaker continues to build out the model’s lineup. Power on the Bentayga Speed comes from an updated W-12 engine, which has 626 hp, up from 600 hp […]

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BorgWarner projects new business growth up to 6%

Automotive engine and powertrain components supplier BorgWarner Inc. is growing its pipeline of new business thanks to hybrid-vehicle growth and further expansion into China. The company based in suburban Detroit reported new business growth of $430 million to $580 million in 2019, $750 million to $875 million in 2020 and $800 million to $950 million in […]

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GM will launch electric bike sales in Europe

General Motors said it will begin selling electric bicycles in Europe in the second quarter. Two such bicycles, a compact bike and a foldable one, will launch first in Germany, Belgium and the Netherlands, markets where cycles powered by lithium-ion batteries are already popular, GM said in a statement Thursday. In Belgium and the Netherlands […]

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Renault cancels $34 million in Ghosn compensation

PARIS — Renault said it scrapped 30 million euros ($34 million) in deferred and severance pay to former boss Carlos Ghosn, forced out last month following his arrest for suspected financial misconduct at Japanese affiliate Nissan. Backed by the French government, its biggest shareholder, the carmaker’s board agreed on Wednesday to withdraw 25.9 million euros […]

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Tenneco spinoff to be named Driv Inc.

The $6 billion-plus spinoff of last year’s merger of Tenneco and Federal-Mogul will be called Driv Inc., the company said Thursday. Known for the past few months as Spinco, the mashup of advanced suspension systems and storied aftermarket brands is preparing for a public stock offering in the second half of 2019. The new corporate […]

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VW seeks to tap potentially lucrative ride-sharing market

FRANKFURT — Volkswagen Group’s mobility business, Moia, is scheduled to begin public ride-sharing services with electric passenger vans in Hamburg in April, as automakers step up their investments in potentially lucrative, non-traditional transportation services. Germany’s second-largest metropolis after Berlin will serve as a test to see whether the business model functions properly and can be […]

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Nissan, Renault reaffirm alliance; Nissan chair not discussed

TOKYO — Top executives from Nissan and Renault on Thursday reaffirmed the importance of an alliance that has been pressured by the ousting of former Chairman Carlos Ghosn, but avoided discussing the potentially contentious issue of Nissan’s next chairman. The newly appointed chairman of France’s Renault SA , Jean-Dominique Senard, arrived in Japan on Thursday for […]

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Royal Enfield factory workers begin striking again

CHENNAI: Workers at an Eicher Motors-owned Royal Enfield two wheeler production site near Chennai struck work over what trade union sources refer to “victimisation of union representatives by transfers,” besides lack of progress in negotiations over wage hike and redesignating certain employees as permanent staff. The Working People’s Trade Union Council had issued a strike […]

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Honda Motor expects market share to improve post BS-VI

NEW DELHI: Honda Motorcycle & Scooter India (HMSI) expects its market share to improve after the country switches to Bharat Stage VI emission standards, said Minoru Kato, CEO, even as the local unit of the Japanese automaker feels the market may see a decline in overall sales immediately after the introduction of more stringent emission […]

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Sliding superbike sales prompt offers

NEW DELHI: Two-wheeler companies in India are offering lucrative discounts on superbikes to liquidate stocks, as potential buyers are moving to smaller capacity motorcycles. Sales of motorcycles with engine capacity between 800cc and 1600cc have taken a beating between April 2018 and January 2019. In comparison, sales of bikes with engine capacity greater than 500cc […]

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Rivian seeks big spark with GM, Amazon deal

Rivian Automotive LLC is moving to gain an edge over bigger electric-car rivals before it even starts manufacturing plug-in pickups. The startup is in talks with General Motors Co. and Amazon.com Inc. about an investment that would value the company at $1 billion to $2 billion, people familiar with the matter said. If the deal […]

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