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Major Tesla Shareholders Back $2.6 Billion Payout to CEO Musk
3/8/2018Two of Tesla Inc.’s largest investors are backing a board plan designed to keep CEO Elon Musk on board for years by paying him $2.6 billion in compensation, Bloomberg News says.
China’s Exports Zoom, Trade Surplus Rises
3/8/2018China’s exports jumped 45% to nearly $172 billion in February—four times the expansion rate in January, according to customs data.
BMW Weighs Production in Russia
3/8/2018BMW AG is studying a plan to offset slower sales growth in Europe by launching local production in Russia.
Car Loan Lending Rates at 8-Year High
3/8/2018The average interest rate on a new-car loan in the U.S. climbed to an eight-year-high of 5.2% from 4.9% a year ago.
GM to Hike Bolt EV Production, Seeks Tax Credit Extension
3/8/2018General Motors Co. says it will increase production of its Chevrolet Bolt this year by an unspecified level to meet rising demand for the all-electric sedan.
Kia Sketches Redesigned K900 Luxury Sedan
3/7/2018Kia Motors Corp. has released sketches of its redesigned flagship K900 sedan, which will be launched later this year.
Nissan to Acquire France’s Stake in Renault?
3/7/2018Renault SA and alliance partner Nissan Motor Co. are discussing a plan in which Nissan would acquire at least part of France’s 15% stake in Renault, sources tell Reuters.
Jaguar I-Pace EV Undercuts Tesla Model X by $9,000
3/7/2018Jaguar Land Rover Ltd. will start its I-Pace electric crossover vehicle at $70,500, which will undercut the entry-level version of Tesla Inc.’s Model X 75D EV by $9,000.
Porsche Eyes Electric Mission E Cross Turismo for Production
3/7/2018Porsche AG is likely to put its all-electric Mission E Cross Turismo concept into production “very soon,” says CEO Oliver Blume.
Report: GKN Near Deal to Sell Driveline Unit to Dana
3/7/2018British engineering company GKN plc is likely to sign a deal in two weeks to sell its driveline business to Ohio-based Dana Inc., multiple sources tell Reuters.