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Magna Forms Four Global Product Groups
12/19/2017Canadian mega-supplier Magna International Inc. is realigning its management structure into four global product lines to buttress its strategic response to industrywide shifts in personal mobility.
Virgin Hyperloop Appoints Richard Branson as Chairman, Lands More Funding
12/19/2017Virgin Hyperloop One (VH1) has named Richard Branson the company’s non-executive chairman, two months after the billionaire made an unspecified investment in the company and was appointed to the board.
Honda to Unveil Hybrid Prototype at Detroit Auto Show
12/19/2017Honda Motor Co. will use next month’s Detroit auto show to unveil an all-new version of its Insight sedan, a coupelike five-seater slated to join its lineup in the U.S. next summer.
Honda Targets Tech Tie-Ups Over Cross-Equity Deals
12/19/2017Honda Motor Co. plans to accelerate its recent push to partner with other companies on emerging technologies—but don’t expect any equity deals with other carmakers.
Hella Breaks Ground for New U.S. Tech, Administrative Center
12/19/2017Hella GmbH has begun constructing a new U.S. headquarters near Plymouth, Mich., and plans to move into the 115,000 sq-ft facility in early 2019.
Tough Cost-Cutting Decisions Still Ahead for PSA
12/19/2017PSA Group’s newly acquired Opel unit faces likely plant closures and layoffs to meet a goal of lowering annual costs €1.1 billion ($1.3 billion) by 2020 and €1.7 billion by 2026, says the Financial Times.
BMW Hits Sales Target of 100,000 Electrified Vehicles
12/18/2017BMW AG reports it sold a record 100,000 plug-in hybrid and all-electric vehicles this year, up 60% from its total in 2016.
VW Moves Forward with U.S. Charging Station Rollout
12/18/2017Volkswagen AG’s Electrify America unit says it has hired three contractors to install some 2,800 Level 2 charging stations at 500 locations across the U.S. over the next 18 months.
Dyson Battery Expert Quits
12/18/2017Ann Marie Sastry, who was spearheading the development of a next-generation battery for Dyson Ltd.’s upcoming electric vehicle, has left the company.
BMW, Solid Power Partner on Solid-State EV Batteries
12/18/2017BMW AG has agreed to help speed development of Colorado-based Solid Power Inc.’s solid-state batteries for electric cars.