Automobiles and Components Auto Components

  • STUTTGART, Dec 7- German auto supplier ZF has launched the sale of its Body Control Systems division, Chief Executive Stefan Sommer said, seeking to shed assets it no longer deems essential after its takeover of rival TRW. "We are at a very early stage," Sommer told journalists at the Stuttgart Economic Press Club in remarks embargoed for Wednesday.

  • PARIS, Nov 18- French car parts maker Plastic Omnium has received a binding offer from German group Mutares for its heavy duty truck business, the companies said on Friday. The business, which entails designing and manufacturing the body and structural parts for the heavy duty truck industry, employs more than 1,500 people and had 2015 sales of 190 million euros.

  • Nov 3- U.S. auto-parts maker American Axle& Manufacturing Holdings Inc agreed to buy Metaldyne Performance Group Inc for about $1.6 billion in a cash-and-stock deal, a move that would help lower its dependence on General Motors Co.. Shares of Detroit- based American Axle, which was spun off from GM in 1994, were down 15.6 percent at $14.01, while Southfield,...

  • Nov 3- U.S. auto-parts maker American Axle& Manufacturing Holdings Inc said it would buy Metaldyne Performance Group Inc for about $1.6 billion in a cash-and-stock deal to bolster its powertrain and drivetrain product lines. The deal will also additionally include the assumption of $1.7 billion of Metaldyne's debt. Shareholders of Metaldyne, which makes...

  • *Volvo to make stretched S90 sedans in China. SHANGHAI, Nov 2- Swedish car maker Volvo announced on Wednesday moves deepening cooperation with its Chinese parent Zhejiang Geely Holding Group Co- a tie-up that's shaping up to show that China can make a success of buying consumer brands. Volvo's global chief executive Hakan Samuelsson and Geely Chairman Li Shufu...

  • FRANKFURT/ LONDON, Nov 1- Loss-making Indian car parts maker Amtek Auto is expected to shortlist bidders for its German division Tekfor as soon as next week, people close to the matter said, a year after starting what has been a lengthy sale process. People familiar with the industry said they see Spain's CIE- part-owned by India's Mahindra Group- and Canada's...

  • MADRID, Oct 13- Spanish car parts maker Gestamp, which supplies components to manufacturers from Volkswagen to Renault, said it is considering listing at least a quarter of the company on the stock market next year. Family-owned Gestamp is worth around 3.3 billion euros, based on the sale last month of a 12.5 percent stake to Japan's Mitsui for 416 million euros.

  • Italy is Europe's worst performing market so far this year and some foreign investors have been so transfixed by the Southern European country's macro-economic risks and political turmoil they have missed the rise of niche firms like Brembo. David Marcus, CEO of U.S. based Evermore Global Advisors, said Italy had long been neglected, but now the country was...

  • *Software advances allow new entrants into auto industry. *Suppliers' knowhow has blossomed since global crisis. FRANKFURT, Oct 6- German logistics giant Deutsche Post has quietly designed and made its own electric delivery van, exploiting sweeping changes in manufacturing technology which could upend the established order in the auto industry.

  • **Britain's Barclays has completed the sale of its Egyptian business to Morocco's Attijariwafa Bank as part of its shift towards focusing on the United States and Britain. **U.S. rail equipment maker Wabtec Corp secured EU antitrust approval for its $1.8 billion buy of Faiveley Transport after agreeing to sell the French company's sintered friction material...

  • **Britain's Barclays has completed the sale of its Egyptian business to Morocco's Attijariwafa Bank as part of its shift towards focusing on the United States and Britain. **U.S. rail equipment maker Wabtec Corp secured EU antitrust approval for its $1.8 billion buy of Faiveley Transport after agreeing to sell the French company's sintered friction material...

  • An Audi AG A3 35 TDI emissions certification vehicle, produced by Volkswagen AG, waiting to be tested in South Korea on October 1, 2015.

    The CEO of Volkswagen Brands has sought to reassure consumers and investors about a potential fine from the U.S. Department of Justice.

  • PARIS, Sept 15- French carmaker PSA said on Thursday a partnership with a U.S. 3 D printing startup would lead to cheaper production of whole vehicle structures as well as parts for its models. The maker of Peugeot, Citroen and DS cars said it had agreed with Los Angeles- based Divergent 3 D to develop metal printing processes for PSA production lines.

  • WASHINGTON, Sept 6- Auto supplier Robert Bosch GmbH concealed the use of Volkswagen AG's secret "defeat device" software that it helped design and demanded in 2008 that the German automaker provide legal protection in its use, lawyers for American owners alleged in a court filing. The filing on Friday in U.S. District Court in San Francisco expands on claims...

  • *CEO says single-source deals to be examined. *Supplier dispute halted production at six plants. HAMBURG, Aug 30- Volkswagen Chief Executive Matthias Mueller has vowed to review the German car giant's procurement strategy to avoid any repetition of the crippling supplier dispute that hit production at six plants this month.

  • Mobileye's U.S.-listed shares were up 8.3 percent at $50.42 in mid-day trading, while Delphi's shares rose 3.2 percent to $67.15. The U.S. National Highway Traffic Safety Administration did not respond immediately to a request for comment. Ride services giant Uber Technologies Inc last week said it had acquired self-driving truck startup Otto and planned...

  • Mobileye, a key supplier of vision-based sensing systems, and Delphi, a provider of automotive safety systems, said they plan to begin testing a jointly developed turn-key system for self-driving cars early next year. The Mobileye/ Delphi alliance is the latest in a series of partnerships aimed at speeding deployment of automated driving systems.

  • Aug 23- Auto supplier Robert Bosch GmbH said claims it was a knowing participant in Volkswagen's decade-long scheme to evade U.S. anti-pollution laws were "wild and unfounded." In a filing in U.S. District Court in San Francisco late on Monday, Bosch responded to attorneys who are suing Volkswagen AG on behalf of U.S. owners of the polluting VW diesel vehicles, who...

  • WASHINGTON, Aug 17- German auto supplier Robert Bosch GmbH was a "knowing and active participant" in a decade-long scheme by Volkswagen AG to evade U.S. emissions laws, according to lawyers for U.S. owners of polluting VW diesel vehicles. In a court filing late on Tuesday in U.S. District Court in San Francisco, the lawyers cited confidential documents turned over by...

  • WASHINGTON, Aug 17- German auto supplier Robert Bosch GmbH was a "knowing and active participant" in a decade-long scheme by Volkswagen AG to evade U.S. emissions laws, according to lawyers for U.S. owners of polluting VW diesel vehicles. In a court filing late on Tuesday in U.S. District Court in San Francisco, the lawyers cited confidential documents turned over by...