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Tesla Seeks Apple’s Help on Theft of Autonomy Secrets
7/12/2019Tesla Inc. has asked Apple Inc. to help it prosecute a former employee suspected of stealing secrets about its autonomous car program before leaving to join Chinese rival Xpeng Motors.
VW’s Global Retail Sales Rose 2% in June
7/12/2019Volkswagen Group raised its vehicle deliveries in June 2% to 974,400 cars, trucks and buses, thanks to a 15% jump to 354,800 units in China.
Geely Warns Its Half-Year Profits Plunged 40%
7/12/2019China’s Geely Automobile Holding Co. warns that slumping sales cut its net earnings in the first half of 2019 40% to about 2.7 billion yuan ($390 million).
Renault Submits Ghosn Audit to Prosecutors
7/12/2019Renault SA has turned over the conclusions of an audit it commissioned in January on joint finances with the Renault-Nissan-Mitsubishi alliance.
Hyundai Touts Variable Valve Duration Tech
7/12/2019Hyundai Motor Group says its new engine “continuously variable valve duration” system is the first to adjust intake valve duration according to driving conditions.
Chinese EV Producers Ponder Indonesia to Avoid U.S. Trade War
7/12/2019Two Chinese electric car makers—BYD Co. and JAC Motors—could move some production to Indonesia to avoid the trade war between China and the U.S.
China Make Hike “Green” Credit for Hybrids
7/12/2019China policymakers may reclassify gasoline-electric hybrid vehicles to give them more credit in meeting the country’s tougher emission and fuel economy rules.
Daimler Issues a Fourth Profit Warning
7/12/2019Daimler AG has lowered its profit outlook for the fourth time since last summer, warning it will post a €1.6 billion ($1.8 billion) pretax loss in the second quarter.
VW Invests $2.6 Billion in Ford’s Argo AI Unit
7/12/2019Volkswagen AG has taken a roughly 37% stake in Ford Motor Co.’s Argo AI unit by agreeing to invest $1 billion in cash and merging its $1.6 billion autonomous intelligent driving company with the Pittsburgh-based startup.
Rival Metal-Forming Company to Buy Tower International
7/12/2019Autokiniton Global Group, which was created 13 months ago by KPS Capital Partners, has agreed to buy Tower International Inc. for about $900 million.