Transportation equipment industry
Jorma Ollila, the chairman and CEO of Nokia Corp., has joined the Board of Directors of Ford Motor Company, with his appointment effective January 12, 2000. This move reflects Ollila's reputation as a strategic business leader, having transformed Nokia into a wireless technology and internet pioneer. Ford'
Transportation equipment industry
Nissan's Chief Operating Officer, Carlos Ghosn, has announced that the company is reviewing a proposal to join a joint venture with Oracle and Ford Motor Company to reduce costs through e-commerce. The venture aims to save hundreds of millions of dollars by allowing manufacturers to pool purchasing on
Transportation equipment industry
Asia's automotive industry witnessed significant developments in 1999, with Holden emerging as the top car seller in Australia. The company's sales of 155,307 vehicles edged out Toyota's 153,066 and Ford's 126,897. Meanwhile, Ford explored opportunities to form a consortium
Transportation equipment industry
Ford Motor has moved to recruit a top executive from Daewoo Motor, a key player in the bidding war with General Motors, while also drawing on the expertise of Ulrich Bez, a seasoned veteran of the car industry. Meanwhile, Hyundai Motor's ambitious plans to become one of the
Transportation equipment industry
Despite economists underestimating sales by more than a million units, Valley auto dealers enjoyed a strong year in 1999, with many reporting double-digit sales increases. A record 16.8 million new cars and trucks were sold across the nation, with Valley dealers attributing the success to a strong economy, attractive
Transportation equipment industry
Ford's plants in Atlanta and Chicago are back in the spotlight as speculation grows about possible expansion and new vehicles. Bloomberg News reported that Ford may build a new type of minivan for Mercury and Volvo in Chicago, while consolidating Taurus production in Atlanta. This move is part
Transportation equipment industry
The South Korean government has decided to solicit bids for the Daewoo Motor Company, drawing the world's two largest automakers, Ford Motor Company and General Motors Corporation, into a high-stakes bidding war. The decision follows Ford's interest in buying Daewoo Motor, with the government initially considering
Transportation equipment industry
The stage is set for an international tender for troubled Daewoo Motor, with intense speculation focusing on the ramifications for the local automotive industry depending on which bid wins the Korean car maker. According to officials of the main creditor Korea Development Bank and industry observers, Samsung Group is sticking
Transportation equipment industry
Ford, the world's second largest carmaker, has announced a strategic alliance with IBM to extend its electronic commerce activities in Europe. The alliance will cover areas such as supply chain management, purchasing, and vehicle design, and is expected to result in significant cost savings for the company. This
Transportation equipment industry
As General Motors prepares to send a high-level negotiating team to discuss new proposals, its global rivals Ford Motor and DaimlerChrysler have expressed interest in acquiring Daewoo Motor, potentially leading to an international auction. This move follows the recent expiry of GM's exclusive negotiating rights to acquire the
Transportation equipment industry
As the auto industry transitions to electronic commerce, automakers are developing electronic marketplaces to conduct bidding and purchasing of auto parts and services. The General Motors Corporation and the Ford Motor Company are leading the charge, with G.M. planning to use its software on the Internet and Ford hoping
Transportation equipment industry
Bolt, Inc. has closed a significant strategic round of investment from prominent institutions, including Time Warner, Comcast Interactive Corporation, and Ford Motor Company. The funding will enable Bolt to expand its branding efforts across various media platforms, entertainment, and automotive industries, further solidifying its position as a leading destination for
