By on May 24, 2017

Lotus

China’s Zhejiang Geely Holding Group Company has decided to purchase a 49.9 percent stake in Proton from Malaysian conglomerate DRB-Hicom and a majority share of the United Kingdom’s Lotus Cars.

Geely seems to have an affinity for other manufacturers and eclectic tastes — not just because it has received criticism for modeling its own cars after everything from Roll-Royce to Toyota, but because it also purchased Volvo Cars and the London Taxi Company. This could be extremely good news for Lotus, which always seems to be in a bit of a bind. Whether or not you like the idea of a Chinese company owning distinctively European brands, Geely helped Volvo come back from the brink and has committed to doing the same for Lotus.

“Reflecting our experience accumulated through Volvo Car’s revitalization, we also aim to unleash the full potential of Lotus Cars and bring it into a new phase of development by expanding and accelerating the rolling out of new products and technologies,” stated the company in its official announcement.  (Read More…)

By on March 30, 2017

2017 Audi A4 Ultra

Today’s car rental services span the gamut in terms of vehicular offerings and price, but it used to be a more utilitarian affair. Granted, the norm is still to hop online and click the little box next to economy or compact with those full-size sedans reserved for when your employer is footing the bill. However, special discounts or a base Mitsubishi Mirage occasionally make SUVs and even premium cars too tempting to pass up. For those with more discerning tastes, there are entire agencies devoted to specialty cars.

Silvercar is a rental firm that allows customers to charter an Audi A4 similarly to how you would reserve a ZipCar — log in, schedule a pickup, and remotely unlock the vehicle for as long you need access. It’s akin to BMW’s ReachNow, General Motors’ Maven, and Mercedes’ Car2Go — that latter of which is finally replacing its fleet of Smart cars with Benz-branded vehicles. But Audi doesn’t actually own Silvercar, it just happens to be a company providing the exact service that every single automaker wants to include as part of an updated mobility identity. Oh, and it exclusively rents out A4s.

Obviously, Audi is purchasing it. (Read More…)

By on March 3, 2017

Opel Headquarters

As expected, a transfer of General Motors’ subsidiary Adam Opel AG to European automaker PSA looks to be a done deal.

PSA’s board approved the deal on Friday, with an official announcement planned for early next week. Considering the European peripheral has cost GM $15 billion in losses since 2000, GM probably isn’t terribly sad to see Opel go.

With talks progressing all week, the two automakers focused on differences on about $10 billion worth of Opel outstanding pension deficiencies and a GM request that a PSA-owned Opel would not compete with its own Chevrolet-based lineup in China or in other overseas markets.  (Read More…)

By on August 1, 2016

Tesla Model X

To bastardize an old Dodge slogan, if you’re willing to devote your life to sustainable driving and ditch your electricity provider, you could be Tesla material.

The electric automaker announced a deal with solar company SolarCity today — an all-stock agreement worth $2.6 billion. Acquiring the nation’s largest rooftop solar provider gives Tesla CEO Elon Musk the top-to-bottom green company he always wanted, but it opens the company up to new risks. (Read More…)

By on July 26, 2016

dealerrater

If sales and service reviews were gold, Cars.com will soon the the richest third-party shopping website in all the land.

Cars.com plans to buy DealerRater, making it the largest soundboard of criticism and praise for dealers, salespeople and servicing in the industry, Automotive News reports. (Read More…)

By on June 22, 2016

Elon Musk + Tesla Model S Circa 2011

Founded with the intent of finding energy solutions (and profit) in the power of the sun, SolarCity’s photovoltaic energy business has grown in leaps and bounds since 2006. Now, as the company poises itself for bigger profits, a very familiar man wants to acquire the operation.

Tesla Motors published a note on its website yesterday stating its intention to acquire SolarCity. The offer, made by Tesla, would see the electric automaker trade shares with the San Mateo, California-based company, bringing the business into its fold.

Tesla founder and CEO Elon Musk is no stranger to SolarCity’s operation — he co-founded it with cousins Lyndon and Peter Rive (CEO and CTO of Solar City), and serves as the company’s chairman. (Read More…)

By on July 14, 2015

Polestar STCC

The fraternity of automotive journalism was atwitter when blue Polestar Volvos arrived at the Chicago auto show last year. While the cars delivered increased performance and looks to match, Polestar also gave the high-performance Swedish offerings credibility with racing programs in Scandinavia (STCC) and Australia (V8 Supercars).

It’s no secret, though, that Volvo’s marketing head, Alain Visser, sees no future for the brand in motorsport. Purchasing Polestar might be the Swedish manufacturer’s way of ending at least one of its racing contracts while still holding on to the blue-hot Polestar brand.

Speaking with Swedish media late last year, Visser plainly stated, “Motorsport does not conform with our brand, where we stand for smaller engines and safety. We are therefore pulling out of STCC, for example, as soon as the contracts permits.”

(Read More…)

By on February 25, 2015

2014 Samsung BMW M3 DTM Sparking It Up Bitches

Digging further into the auto-parts game, Samsung SDI announced it would buy Magna International’s battery-pack business.

(Read More…)

By on April 4, 2014

Senova BAIC C10

Looking to expand its global presence beyond its native China, Beijing Automotive Group announced they would like to acquire a “mid to high-level brand” in either Europe or the United States, and already has a list of potential brands in mind.

(Read More…)

By on December 29, 2013

Tesla Model S

While one analyst implored Apple to go into the automotive industry by purchasing Tesla Motors to the bemusement of all, another analyst is suggesting that General Motors may be the one to pull the trigger in the coming year.

(Read More…)

By on October 25, 2013

2012 Tesla Model S

It seems as of late that Tesla is becoming to cars what Apple already is to computing, smartphones, digital music players and tablets. Thus, it should be as no surprise that the automaker has brought aboard former Apple vice president of Mac hardware engineering Doug Field to help them develop “insanely great” new vehicles.

(Read More…)

By on September 14, 2011

Volkswagen will almost certainly finish the year as the second-largest automaker by volume… and if it wants to take the top spot, it will do so on sales, not acquisitions. Having gobbled an extraordinary number of acquisitions over the past several decades, including Bentley, Lamborghini, Bugatti, Italdesign and Karmann, VW’s monstrous appetite appears to be waning. And no wonder: the latest mouthful, a partnership with Suzuki, has gone sour and recent lustful glances at Alfa have drawn sassy rebukes from Fiat’s Sergio Marchionne. Accordingly, VW’s Chairman Ferdinand Piech tells Bloomberg [via AN [sub]] that no more acquisitions are planned and that

We’re big enough

Of course, this is also coming from the company that’s been struggling to swallow Porsche for the last several years. Once that deal is complete, we’ll check back on Herr Piech’s appetite. Because in an industry built on scale, you never know when hunger will strike…

 

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