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Ford to Invest $1.2 Billion in Three Factories in Michigan
Ford Motor Co. is spending $1.2 billion in Michigan to retool an assembly plant, expand an engine components factory and add a data center dedicated to mobility services.
SolarCity to Start Taking Orders Next Month
Tesla Inc.’s SolarCity unit will start taking orders for its solar roof panels in April, Tesla CEO Elon Musk announced via Twitter.
Hyundai Idles Factories in China
Hyundai Motor Corp. is suspending car production at all four of its assembly plants in China for one week, apparently to trim dealer inventories of unsold cars.
EIB Seeks Probe into Renault Loans for in Diesel Development
The European Investment Bank has asked the French government to determine whether Renault SA used a portion of €800 million ($865 million) in EIB loans to develop cheater diesels.
Eurozone Business Activity Near 6-Year High
Business activity in the eurozone grew this month at its fastest pace since May 2001, according to the Markit Composite Purchasing Managers’ Index.
GM-Isuzu JV Builds 2 Millionth Duramax Diesel
Dmax Ltd., General Motors Co.’s joint venture plant with Isuzu Motors Co. in Moraine, Ohio, built the two millionth Duramax diesel engine today.
VW Readies Payment Program for VW Diesel Owners
Volkswagen AG has hired victim compensation expert Kenneth Feinberg to set up and run a claims program for as many as 500,000 U.S. customers who own Volkswagen Group cars equipped with diesel engines that violate emission laws.
SEAT Adding Third SUV/Crossover Vehicle
Volkswagen AG’s SEAT unit in Spain says it will add a midsize SUV to its lineup and produce the vehicle at VW’s assembly plant in Wolfsburg, Germany.
Ford Details Lower Profit Forecast
Ford Motor Co. says in a regulatory filing that its adjusted pretax profit this year is likely to drop to $9 billion from $10.4 billion in 2016, largely because of increased spending on such emerging mobility technologies as autonomous driving systems.
Volvo Readies 3-Cylinder Engine Family
Next year Volvo Car Corp. will introduce gasoline and diesel versions of its new 1.5-liter 3-cylinder engine in an unspecified model built on the company’s Compact Modular Architecture (CMA).