A Goldman Sachs Group private equity fund is investing about $250 million in Chinese carmaker Geely Automobile , a move that could free up capital for Geely's parent to bid on Ford's Volvo unit, the Wall Street Journal reported, citing an unidentified source.
Visteon Corp has sought U.S. Bankruptcy Court permission to drop contracts to supply auto interiors, fuel tanks, climate controls and lighting components to General Motors Co under a deal with the automaker that would give it more than $22 million.
Geely Automotive (0175.HK), the Chinese carmaker whose parent is eyeing Ford's (F.N) Volvo unit, has approached Canadian auto parts maker Magna International about possibly taking a stake in Opel, a source said.
China's Geely Automobile has approached Magna International about joining the Canadian auto part maker's bid for Opel, a source familiar with the matter said, as China chases Western brands and the technology it needs to drive future growth.
Executives at the Frankfurt Motor Show predicted a bumpy road to a car market recovery as they showcased their latest green technology, which they hope will transform the industry.
Ford Motor Co (F.N) is on track to have cut structural costs by up to $15 billion since 2005, but has room to make further reductions, the automaker's chief financial officer said on Wednesday.
Ford Motor Co (F.N) will produce a seven-seat minivan-like vehicle built on a stretched compact car platform in North America beginning in late 2011, the automaker said on Tuesday.
Ford Motor Co (F.N) is asking European governments to keep incentives for consumers to scrap old cars because demand remains very weak and an abrupt suspension of the programs could lead to another sharp decline in sales, the head of Ford Europe said on Tuesday.
Greed -- not green -- drives sales of small, environmentally friendly cars, a top industry executive said on Tuesday.
The European car industry could face a further shake-up with Asian companies pouncing on the chance to buy assets as China's Beijing Automotive Industry Holdings has done with Swedish car maker Saab.
Geely Automotive (0175.HK), the Chinese carmaker whose parent is eyeing Ford's (F.N) Volvo unit, said it was considering a convertible bond issue, but added that the move is unrelated to the parent company's previously disclosed interest in the Ford unit.
Geely Automotive , the Chinese carmaker whose parent is eyeing Ford's Volvo unit, is set to raise capital through a bond issue in a move that may provide funding for a Volvo bid.
News that European car sales rose for a third consecutive month in August helped lift the mood at the Frankfurt Motor Show, where automakers will showcase green technology they hope will transform the industry.
World number two truck maker Volvo (VOLVb.ST) said on Tuesday truck deliveries fell 52 percent year-on-year in August as markets across the globe remained mired by the economic downturn.
The Canadian Auto Workers is working to complete a working-level exchange of information with Ford Motor Co (F.N) this week before returning to full-scale negotiations with the No. 2 U.S. automaker, the head of the union said on Monday.
News that European car sales rose for a third consecutive month in August kicked off the Frankfurt Motor Show, where automakers are showcasing green technology they hope will transform the industry.
News that European car sales rose for a third consecutive month in August helped lift the mood at the Frankfurt Motor Show, where automakers will showcase green technology they hope will transform the industry.
Auto parts supplier Magna is discovering that its customers like BMW are concerned that it may become a competitor as well as a vendor if it acquires a controlling stake in German carmaker Opel.
Ford Motor Co sees no near-term North American labor cost disadvantage with rivals General Motors Co and Chrysler Group LLC, but is in talks with its unions to address longer-term concerns, its global labor chief said on Thursday.
Ford Motor Co (F.N) started production at its Romanian plant in the southwestern city of Craiova on Tuesday, seeking to sell its Transit Connect van in Romania and eastern European markets, officials said.
Cost cutting talks between Ford Motor Co (F.N) and the Canadian Auto Workers began on Tuesday, the union said, adding that a key condition to reaching a new agreement would be a commitment by Ford to maintain its current manufacturing presence in Canada.
China's Geely Automotive (0175.HK) said its parent company plans to bid for all of Ford Motor Co's (F.N) Volvo Car Corp, becoming the latest Chinese automaker to chase a foreign marque in a global industry shakeup.
