Mexican Media Brands
Michelin Completes Acquisition of NexTraq Telematics Provider
7/21/2017Michelin & Cie. has finalized its purchase of NexTraq, an Atlanta-based supplier of telematics services for commercial fleets, from FleetCor Technologies Inc.
China Facility Marks JLR’s First Engine Plant Outside England
7/21/2017Today Jaguar Land Rover Ltd. is opening a factory in China to make gasoline engines for vehicles it builds nearby.
VW Pays Another $154 Million in Diesel Cheating Scandal
7/20/2017Volkswagen AG has agreed to pay the California Air Resources Board another $154 million (€32 million) to cover air quality fines and the agency’s legal costs related to VW’s diesel emission cheating.
Valeo’s Net Profit Climbs 20% in First Half
7/20/2017Valeo SA reports that its revenue in the first half of 2017 grew 16% to €9.5 billion ($11 billion), and net income rose 20% to €506 million ($589 million).
Musk: East Coast Hyperloop Project Gets “Verbal” Government Approval
7/20/2017Tesla Inc. CEO Elon Musk says The Boring Co., a Los Angeles-based startup he launched last December, has received “verbal government approval” to build an underground hyperloop tunnel to service New York City, Philadelphia, Baltimore and Washington, D.C.
Germany Awards More Automated, Connected Vehicle Research Programs
7/20/2017German Federal Minister Alexander Dobrindt has approved €22 million ($26 million) for 13 new research projects as part of the country’s automation and networking in road traffic program.
BMW Names New Sales Chief
7/20/2017Ian Robertson, 59, the BMW AG management board member who has headed the BMW brand sales since 2008, will relinquish that post on Jan. 1 before retiring from the BMW AG management board on June 30.
Volvo Expands Relationship with Geely and Lynk
7/20/2017Volvo Car Corp. is forming a 50:50 joint venture with owner Zhejiang Geely Holding Group to better share technology and improve synergies between the companies.
Conti May Buy Stake in HERE Digital-Mapping Firm
7/20/2017Continental AG is negotiating to buy as much as 10% of HERE, the digital mapping company majority owned by BMW, Daimler and Volkswagen, sources tell Manager Magazin.
GVS to Buy Kuss Filtration
7/20/2017Microfiltration specialist GVS SpA has agreed to buy Findlay, Ohio-based Kuss Filtration Inc. from Industrial Opportunity Partners (IOP), an Evanston, Ill.-based private equity firm.