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BMW Engine Fires in Korea Prompt European Recall
8/7/2018BMW AG says it will recall 324,000 diesel-powered cars in Europe to repair a defect that has caused at least 27 engine-compartment fires in South Korea, the Frankfurter Allgemeine Zeitung reports.
Ford Offers Dealers $1,000 Bounty to Fix Ranger Airbags
8/7/2018Ford Motor Co. says it will pay its U.S. dealers $1,000 per truck to replace explosion-prone Takata Corp. airbag inflators in recalled 2006-model Ford Ranger pickups.
Musk May Take Tesla Private
8/7/2018Tesla Inc. CEO Elon Musk says he may take the electric car company private at $420 per share—and claims he has the funding to do so.
Startup Readies Solar-Powered EV
8/7/2018Germany’s Sono Motors GmbH says it has received 5,000 orders for its upcoming Sion electric car, which can be partially recharged by it attached solar panels.
Saudi Sovereign Wealth Fund Buys Big Stake in Tesla
8/7/2018Saudi Arabia’s Public Investment Fund (PIF) has amassed a stake in Tesla Inc. worth as much as $2.9 billion, sources tell The Financial Times.
GM Expands In-Car Shopping App
8/7/2018General Motors Co. is partnering with ExxonMobil to expand its in-vehicle Marketplace app to allow owners of Buick vehicles to pay for fuel at Exxon and Mobil stations throughout the U.S.
Daimler Drops Out of Iranian Car Market
8/7/2018Daimler AG has abandoned plans to expand operations in Iran and ceased its “already restricted activities” in the country because of new U.S. trade sanctions.
Moovel Mobility Service Tops 5 Million Users
8/7/2018Daimler AG says its moovel mobility unit has hiked its user base 71% this year to more than 5 million customers worldwide.
India’s Auto Parts Industry Lobbies for Flat Tax Rate
8/7/2018Auto parts suppliers in India are asking the government for a single 18% tax rate across sectors where the levy currently ranges between 18% and 40%.
Report: Opel to Trim Output as Sales Slow
8/7/2018PSA Group’s Opel unit will reduce output at two assembly plants in Germany this autumn because of slumping sales, says the Allgemeine Zeitung.