Volkswagen’s commercial vehicles division is eager to enter the U.S. heavy truck market, and it just found a partner to help pull it off.
Volkswagen Truck & Bus has announced it will buy a 16.6 percent stake in U.S. truck maker Navistar International Corp., a share buy worth $256 million. Both companies hope to save money (and make more of it) through the technology-sharing deal, with joint products on the horizon. (Read More…)
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…)
Yesterday’s vague Japanese media reports proved right this morning, as Nissan Motor Co. announced it will purchase a 34 percent controlling stake in scandal-plagued Mitsubishi Motors.
Taking advantage of Mitsubishi’s reduced market value following the company’s admission of cheating on Japanese fuel economy tests, Nissan’s 237 billion yen ($2.2 billion) bulk buy of shares makes it the automaker’s largest shareholder.
It’s a big win for Nissan, which can take credit for exposing the gas mileage scandal less than a month ago. (Read More…)
Fiat-Chrysler CEO Sergio Marchionne can see a beautiful future with partner Google, but there’s plenty of fish in the sea, you know.
Speaking in Windsor, Ontario, where Chrysler Pacifica minivan production recently kicked off, Marchionne called FCA’s Google fling the “first phase” of their relationship, but admits to wanting to keep his options open, Automotive News reports. (Read More…)
Like a bad reality show, the figurative clock is ticking for the Toyota/BMW courtship that may or may not be spawning a sports car.
Reuters reported (via Automotive News Europe) that Toyota spokesman said the companies would make a decision on whether to pursue the joint project further.
“By the end of the year we will approve whether or not we will make it,” a Toyota spokesman told Reuters. “The whole study before that, on what kind of platform, on what kind of architecture, that’s been progressing quite well. We haven’t yet decided to give the green light to the project, but it’s coming up.”
Speaking to journalists in Frankfurt, Nissan chief Carlos Ghosn told journalists that he’d be open to any alliance with an automaker if the opportunity presented itself.
“Any single opportunity we have in front of us … we will entertain,” Ghosn said, according to The Detroit Bureau.
Nissan and Daimler together released Wednesday an update on its joint projects including its factory in Aguascalientes, Mexico that’ll produce both the Infiniti Q30 and Mercedes-Benz GLA.
Despite its struggles in its native market — and, perhaps, because of said struggles — Mahindra & Mahindra is seeking to build alliances with a trio of automakers to develop its global presence.
Fiat Chrysler Automobiles CEO Sergio Marchionne is open to forming new alliance with other automakers as far as cost-savings are concerned, but he maintains that Alfa Romeo is not for sale.
Long rumored to wear the Alfa Romeo badge, the next-generation Mazda MX-5 may instead don a Fiat or Abarth necklace in 2015 if Fiat Chrysler Automobiles CEO Sergio Marchionne has the last word.