The Truth About Cars » Acquisitions The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Thu, 24 Jul 2014 11:00:59 +0000 en-US hourly 1 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars » Acquisitions BAIC Seeks To Acquire US, European Brand Fri, 04 Apr 2014 11:05:24 +0000 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.

Reuters reports BAIC originally looked towards Europe for their potential acquisition, but has now expanded their search to the U.S. President Dong Haiyang told reporters that his company’s brand is little-known outside of China, and sees a European or American brand as a shortcut into the global marketplace.

At home, BAIC purchased two smaller rivals in 2013, and signed a joint investment agreement with Daimler AG last month, delivering $5.51 billion into their joint venture in order to double production by 2015.

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Analyst: GM to Own Tesla in 2014 Sun, 29 Dec 2013 15:56:14 +0000 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.

Yra Harris, a veteran trader with Praxis Trading, told CNBC earlier this week that Tesla’s brand of luxury EVs would be a perfect fit with GM overall, especially in terms of technology and service.

The key to purchasing Tesla comes down to valuation, an issue CEO Elon Musk has warned about for months on end. Currently, the EV automaker holds a market capitalization of over $18 billion, with shares trading at 100-plus times forward earnings. Still, should a market correction occur — and should Musk decide he’d rather make a Lotus Esprit into a functional submarine now than build an electric truck in 2017; he has said he wouldn’t sell Tesla until the third-generation models were produced — then perhaps Harris’ prediction will come to pass in the new year.

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Former Apple VP To Aid Vehicle Development At Tesla Fri, 25 Oct 2013 14:16:44 +0000 tesla-model-sa_rIt 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.

“Doug has demonstrated the leadership and technical talent to develop and deliver outstanding products, including what are widely considered the best computers in the world,” said Tesla CEO Elon Musk in a press release. Musk went further to state that the future of the automaker is dependent upon engineering talents — such as the kind Field would bring to the table — that can help bring “the most innovative, technologically advanced vehicles in the world” to the masses, especially the kind that will be sold for $35,000 at the nearest Tesla boutique in the near future.

Field’s latest foray in the tech world marks a return to the automotive industry: His career began with Ford as an engineer, then a turn as CTO for Segway before segueing to One Infinite Loop in 2008. From there, Field led development on the MacBook Air and Pro, and the iMac.

“Until Tesla came along, I had never seriously considered leaving Apple,” said Field in the same press release. “I started my career with the goal of creating incredible cars, but ultimately left the auto industry in search of fast-paced, exciting engineering challenges elsewhere. As the first high tech auto company in modern history, Tesla is at last an opportunity for me and many others to pursue the dream of building the best cars in the world-while being part of one of the most innovative companies in Silicon Valley.”

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PiĆ«ch: Stop Me, I’m Full Wed, 14 Sep 2011 16:51:46 +0000

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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