Europe

DETROIT — General Motors on Wednesday filed a federal racketeering lawsuit against Fiat Chrysler Automobiles and three former FCA executives who have pleaded guilty in an ongoing federal corruption probe involving the United Auto Workers union. GM says FCA engaged in a “multiyear pattern of corruption … to undermine the integrity of the collective bargaining
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WASHINGTON — Uber Technologies’ self-driving vehicle unit lacked an effective safety culture at the time when one of its test vehicles struck and killed a pedestrian in Tempe, Arizona, last year, U.S. National Transportation Safety Board Chairman Robert Sumwalt said Tuesday. “The inappropriate actions of both the automatic driving system as implemented and the vehicle’s
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Bugatti Automobiles is looking to broaden its appeal by flanking the 2.5 million-euro ($2.7 million) Chiron supercar with a slightly more accessible alternative. The potential second model line would be an electric-powered grand tourer or crossover that could seat up to four people and would cost between 500,000 and 1 million euros. The French boutique
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PARIS — Renault’s interim CEO, Clotilde Delbos, has applied to take the job on a permanent basis, two sources familiar with the matter said, as the automaker edges towards a shortlist likely to also feature several external candidates. Financial chief Delbos was propelled to the job on a temporary basis after CEO Thierry Bollore’s ousting
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Daimler has taken a “reality check” on self-driving taxis, acknowledging that making them safe is proving harder than first thought amid questions over their future earnings potential. Daimler will “rightsize” its spending level on robotaxis and self-driving technology will more likely be applied to commercial vehicles for freight companies on long haul routes, CEO Ola
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Volkswagen of America will build a factory next door to its U.S. car plant in Chattanooga to assemble battery packs for its upcoming line of battery electric vehicles, the automaker said Wednesday. The announcement was made in conjunction with the groundbreaking ceremony for an $800 million expansion of the Chattanooga plant to allow the operation
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Magna International has lowered its 2019 financial outlook to reflect the estimated impact of the UAW strike at General Motors in the United States. The strike lasted 40 days and stretched from the latter part of the third quarter and into the fourth.   Magna, which supplies body exteriors and structures and power technologies, said Friday that it experienced
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Since time is a valuable commodity for Porsche’s affluent customers, the Volkswagen Group subsidiary hopes it can convince discriminating electric vehicle drivers with the fastest recharging capability currently on the market. The Taycan, the brand’s first EV and a rival to the Tesla Model S, has an 800-volt electrical architecture that is twice as powerful
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BEIJING — China is considering further cuts to subsidies for electric-vehicle purchases, according to people familiar with the matter, threatening to deal another blow to a once-burgeoning industry that’s facing an unprecedented slump. Industry regulators in the world’s largest EV market have been discussing the proposal but are holding off on a decision until they
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FRANKFURT — Fiat Chrysler Automobiles and PSA Group have said they will not to close factories if they merge but this promise is likely to come under heavy strain as the combined group would have spare production capacity of almost 6 million vehicles in a slowing autos market. The companies last week unveiled plans to
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MILAN — Fiat Chrysler Automobiles and PSA Group aim to sign a final merger agreement as early as the beginning of next month, a source familiar with the matter said. The two automakers said earlier this week they planned to join forces in a 50-50 share merger to create the world’s fourth-largest automaker, seeking scale
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WASHINGTON — U.S. President Donald Trump’s administration will look very closely at the planned merger between Fiat Chrysler and Peugeot owner PSA, White House economic adviser Larry Kudlow said on Friday. The deal, announced on Thursday, would create the world’s fourth-largest automaker. “We will obviously look at it very, very carefully,” Kudlow said on Bloomberg.
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Fiat Chrysler Automobiles and PSA Group went out of their way to make their combination as equal as possible, shedding assets, paying special dividends and distributing board seats. It did not take long for investors to figure out who the buyer is. Shares of Fiat Chrysler jumped 10 percent Thursday after the two sides announced
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Magna International said on Wednesday it will build dual-clutch and hybrid transmissions for BMW under a multi-year contract. The products will be built at Magna’s plants in Germany and Slovakia, the company said. Magna did not disclose the financial terms of the contract. Magna ranks No. 3 on the Automotive News Europe list of the
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Fiat Chrysler Automobiles and PSA Group of France are in talks to combine, The Wall Street Journal and other media reported. The newspaper, citing people familiar with the matter, said a deal between FCA and the Peugeot parent could create a “$50 billion trans-Atlantic auto giant.” An all-share merger of equals, the paper reported, is
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A top-to-bottom reorganization at Karma Automotive will see the Chinese-funded California startup try to steer a quick path toward profitability by selling its engineering, design, customization and manufacturing capabilities to other companies. Karma’s plant in Moreno Valley, California, has capacity for up to 1,000 hand-built vehicles per year. But production of the company’s Revero GT
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DETROIT — Hourly UAW members at General Motors have ratified, according to projections by Automotive News, a four-year labor pact that includes significant wage gains and bonuses. The vote, which officially concludes at 4 p.m. Eastern time Friday, would end a 40-day national strike that has idled plants in three countries. Unofficial results compiled by
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PARIS — Valeo cautioned on Thursday that the General Motors strike was currently costing it around 160 million euros ($178 million) in sales and around 50 million euros ($55.5 million) in operating margin terms. The French auto supplier made the forecast as it reported that its third-quarter revenue rose 8 percent to 4.77 billion euros ($5.3 billion). It
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Volvo’s first full-electric vehicle has a lot of additional names that are not essential for every day use, but they do tell a more complete story. The battery-powered compact’s full name is Volvo XC40 P8 AWD Recharge. The P comes from the model being pure electric. The 8 signifies that the car’s power is between
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