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Musk Explains Plan to Take Tesla Private
8/13/2018Tesla Inc. CEO Elon Musk, who announced on Aug. 7 that funding to take the company private had been secured, now says he is merely “considering” taking Tesla private.
Lyft, CDK Partner on Dealership Rides
8/13/2018Ride-hailing giant Lyft Inc. is partnering with Hoffman Estates, Ill-based CDK Global Inc. to help improve customer transportation to and from dealership service centers.
Jailed Audi CEO Stadler Loses Court Appeal
8/13/2018Rupert Stadler, the Audi CEO arrested in June on charges of tampering with evidence about diesel emission cheating, lost an appeal to be released on bail.
Dealer Inventories in U.S. Drop 4%
8/13/2018U.S. car dealers have lowered their year-on-year supply of unsold vehicles 4% to 3.75 million units, according to Automotive News.
Kia Touts Personalized Sound Systems
8/13/2018Kia Motors Corp. is developing a zoned audio system that allow each vehicle occupant to listen to different music or conduct separate hands-free phone conversations.
Lawsuits Claim Tesla CEO of Fraud in Buyout Tweets
8/13/2018Two investor lawsuits filed on Friday claim Tesla Inc. CEO Elon Musk made false and misleading statements about taking the company private in a deliberate effort to hurt short-sellers.
JLR Readies New Platform for Future SUVs
8/13/2018Jaguar Land Rover Ltd.’s next-generation Defender SUV due by 2021 will debut a modular chassis that will carry two other models during the following three years.
High Costs Hamper Electric Cars in Caribbean
8/13/2018Caribbean islands offer an ideal market for electric cars—except for taxes that make EVs too expensive for most buyers, Reuters reports.
China’s Ningbo Jifeng Lands Majority Stake in Grammer
8/10/2018Ningbo Jifeng Auto Parts Co. has increased its share in German interiors and seating supplier Grammer AG from 25% to 74%.
Another 300 BMW Owners in S. Korea to Sue over Fires
8/10/2018Roughly 300 more owners of diesel-powered BMW vehicles in South Korea are preparing to file a lawsuit next Wednesday over a highly publicized rash of engine fires.