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Takata Agrees to Sell Interiors Business
9/28/2016Struggling airbag maker Takata Inc. has agreed to sell its Irvin Automotive interior component operations to the Piston Group for a reported 17 billion yen ($169 million). Pontiac, Mich.-based Irvin generates about $500 million in revenue annually by selling such items as seat trim and cargo shades.
ZF Vows to Drop Haldex Bid Unless It Gains 50% Stake
9/28/2016Powertrain supplier ZF Friedrichshafen AG says it will abandon its bid to buy brake system maker Haldex SA if it fails to gain at least half the company’s shares by Oct. 3.
Nissan Readies New EV, Crossover Models
9/28/2016Nissan Motor Co.’s plans to expand its electric vehicle lineup beyond the Leaf sedan likely will start with another volume-segment model rather than the sports car previously suggested by the company.
Daimler Ponders Battery Plant in Thailand
9/28/2016Daimler AG says it intends to eventually build a battery factory in Thailand to supply its locally produced plug-in hybrid vehicles.
South Korea Orders Big Recall for Takata Airbags
9/28/2016South Korea’s transport ministry has ordered 16 carmakers to replace potentially dangerous Takata Corp. airbag inflators in 221,900 vehicles, The Wall Street Journal reports.
Baidu Touts AI in Race for Self-Driving Cars
9/28/2016China search engine giant Baidu Inc. says a combination of artificial intelligence (AI) and its experience in machine learning and mapping will give it an edge against other developers of self-driving cars.
Marchionne Cancels Trip to Paris Auto Show
9/28/2016Fiat Chrysler Automobiles CEO Sergio Marchionne has cancelled a planned appearance at the Paris auto show on Thursday.
Tata to Sell Small Commercial Vehicles in Bolivia
9/27/2016India’s Tata Motors Inc. has reached an agreement with Bolivian Auto Motors to market three of its small commercial truck models in Bolivia.
Takata Discusses Turnaround Options with Carmakers
9/27/2016Takata Corp. kicked off a series of meetings with its carmaker customers on Tuesday to brief them on proposals from would-be financial backers to bail out the struggling airbag supplier.
WTO Lowers Trade Growth Forecast to 7-Year Low
9/27/2016The World Trade Organization now predicts global trade will expand only 1.7% this year, down from the 2.8% growth it forecast in April to the slowest pace since 2009.