Automobile industry
Volvo's newly appointed CEO Stefan Jacoby has expressed optimism about the automotive market's growth prospects, particularly in emerging markets like China and Brazil. According to Jacoby, Volvo is planning to expand its presence in China through a close cooperation with its partners. The company aims to
Automobile industry
LG Chem Ltd., South Korea's No. 1 chemical and rechargeable battery maker, has announced plans to supply batteries for Japanese carmaker Mitsubishi Motors' electric or hybrid vehicles. The contract is expected to be a significant milestone for LG Chem, marking its first electric car battery deal with
Automobile industry
Bloomberg News SAIC Motor Corp, China's largest automaker, may invest in the initial public offering of its partner General Motors Co, following a decade-long joint venture in China. SAIC Chairman Hu Maoyuan said the Chinese company will consider investing in GM's IPO if conditions are favorable,
Automobile industry
Canadian Magna International is set to launch its plant in Kaluga for manufacturing plastic auto components in the near future, with Volkswagen as its primary consumer. The investment for the plant's construction and equipment totals 74 million euros, indicating a significant commitment to the Russian market. The plant&
Automobile industry
As Toyota Motor Corp. Vice Chairman Katsuaki Watanabe spoke at an international industry conference in Chengdu, China, he revealed the company's plans to enter the Chinese electric vehicle market. Noting that the automaker is already on track to enter the broader electric vehicle market in 2012, Watanabe stated
Automobile industry
Indian auto companies have made a significant increase in advance tax payments to the tax department in the second quarter, surpassing their cement industry counterparts. Bajaj Auto, Mahindra & Mahindra, and Tata Motors reported higher tax payments compared to the same period last year, while cement firms such as ACC,
Automobile industry
President Barack Obama is expected to propose a plan to pump up to $200 billion into business spending, with a focus on equipment purchases and research and development. The plan aims to encourage businesses to spend their $1.8 trillion in corporate coffers and tap into the millions in bank
Automobile industry
Chongqing Changan Automobile, a leading Chinese automaker, is engaged in discussions with Ford Motor to expand their partnership beyond China. This move marks a significant development in the automotive industry, as Chinese automakers seek to strengthen their global presence. The talks between Chongqing Changan and Ford aim to explore opportunities
Automobile industry
Hyundai has announced plans to sell hydrogen fuel cell cars starting in 2012, three years before their competitors, including Toyota and Honda. The company plans to deliver the world's first series production fuel cell vehicle in 2012, with 500 hydrogen vehicles rolling off the line that year. This
Automobile industry
The Ontario government plans to have one in 20 cars in the province run on electricity alone by 2020, according to a statement made by Rick Jennings, Ontario assistant deputy minister, Energy Supply, Transmission and Distribution Policy. To achieve this goal, the province is working on a "smart grid&
Automobile industry
Vice President Joe Biden visited the Toledo's Jeep Wrangler assembly line to celebrate the resurgence of the American auto industry. He emphasized that without the bailouts of General Motors and Chrysler, hundreds of thousands of jobs would have been lost. The vice president also highlighted the return of
Automobile industry
Gov. Steve Beshear announced the expansion of Magna Car Top Systems, a supplier of roof systems for the automotive industry, in Bowling Green. The company, a division of Magna Steyr, an operating group of Magna International, will invest over $950,000 in new equipment, retooling, and facility modifications. This expansion
