LANSING, Mich.— Michigan on Tuesday approved state incentives for nine economic development projects expected to bring about 3,900 jobs, nearly half from General Motors consolidating engineering jobs from outside the state at a site in Michigan.» Read More
Feb 25- Visteon Corp, the auto parts maker, on Tuesday posted a stronger-than-expected quarterly profit and reaffirmed its 2014 financial projections. Net income surged to $513 million, or $10.32 a share, in the fourth quarter, compared with $39 million, or 74 cents a share, in the year earlier period.
*New plants possible in Delaware and Michigan. BEIJING Feb 24- U.S.-based Fisker Automotive, which has been acquired by China's largest auto parts company, plans to restart production of its Karma plug-in hybrid luxury car "within a year" and will also complete the half-finished development of a second model, according to a senior executive.
TORONTO, Feb 20- Panasonic Corp has been fined C $4.7 million for rigging bids to supply equipment for Toyota Motor Corp cars made in Canada, the country's Competition Bureau said on Thursday.
SHANGHAI/ BEIJING, Dec 5- China's monopolies regulator has been collecting evidence of possible anti-competitive behaviour in the country's auto parts market, it said on Wednesday.
WILMINGTON, Del, Feb 18- A unit of China's Wanxiang Group received U.S. bankruptcy court approval on Tuesday to buy the assets of Fisker Automotive, a defunct manufacturer of plug-in hybrid sports cars that was funded in part with a U.S. government loan.
Feb 14- Wanxiang Group, China's largest auto parts company, won a bankruptcy auction for the assets of Fisker Automotive, the defunct manufacturer of the Karma plug-in hybrid sports car, Fisker said on Friday.
Feb 14- Wanxiang Group, China's largest auto parts company, won a bankruptcy auction for the assets of Fisker Automotive, the defunct manufacturer of the Karma plug-in hybrid sports car, two sources who were briefed on the auction told Reuters. Wanxiang outbid an affiliate of Richard Li, a Hong Kong billionaire and Fisker investor, the people said on Friday.
DETROIT, Feb 14- Auto parts supplier TRW Automotive Holdings Corp on Friday posted a higher-than-expected quarterly profit and forecast strong sales for the year, helped by growth in North America and China.
WASHINGTON, Feb 13- Japan's Bridgestone Corp has agreed to plead guilty and to pay a $425 million criminal fine for its role in a conspiracy to fix prices on certain automotive parts, the U.S. Department of Justice said on Thursday.
SHENZHEN, China/ PARIS, Feb 11- Aston Martin's sweeping recall of its high-end sports cars last week raises larger questions about the risk to global automakers of sourcing key parts thousands of miles away in China without implementing adequate quality control measures.
NEW YORK, Feb 5- Jack Butler, a prominent bankruptcy attorney who played an instrumental role in American Airlines' merger with U.S. Airways Group, is leaving law firm Skadden Arps Slate Meagher& Flom to become an executive at Hilco Global, a financial services company with a broad range of operations.
Aston Martin is recalling most of its cars built since 2007 after discovering a Chinese supplier was using counterfeit plastic in a part.
DETROIT, Feb 5- Aston Martin expanded a recall on Wednesday to cover most of its sports cars built since late 2007 after discovering a Chinese sub-supplier was using counterfeit plastic material in a part supplied to the British luxury sports carmaker.
DETROIT, Feb 4- Delphi Automotive Plc on Tuesday reported a stronger-than-expected quarterly profit on strong demand in its powertrain business, but the auto parts maker offered a forecast for the current quarter below Wall Street's expectations.
DETROIT, Feb 4- Delphi Automotive Plc reported a stronger-than-expected quarterly profit on Tuesday as demand rose in Asia and North America, but the auto parts maker offered a forecast for the current quarter below Wall Street's expectations.
TOKYO, Feb 4- Japan's Panasonic Corp said its quarterly earnings more than tripled, extending its renaissance as a maker of high-tech parts for cars and energy-efficient homes with few qualms about selling off legacy businesses that once dragged it into losses.
Large car component manufacturers such as BorgWarner and Hitachi, along with Chinese suppliers, will be approached to gauge interest, the sources said.
NAGOYA, Japan, Feb 3- Toyota Motor Corp is one of the conspicuous success stories of Japan's radical efforts to revive its economy, with profits rebounding and its 60,000 workers in Japan hoping this year to receive their first base wage rise in six years.
Lear and other auto parts makers such as BorgWarner Inc and Visteon Corp have been helped by strong U.S. auto sales, which hit a six-year high in 2013.. Revenue at the company, which supplies parts to General Motors Co and Ford Motor Co among others, rose to $4.26 billion in the quarter from $3.72 billion a year earlier.
Jan 31- Lear Corp reported a 14 percent increase in quarterly revenue as a rise in U.S. vehicle sales boosted demand for its car seats and electrical power systems. Net income attributable to Lear fell to $72.8 million, or 88 cents per share, in the fourth quarter, from $881.9 million, or $9.00 per share, a year earlier.