Autos Automobiles and Components

DETROIT, Aug 18- Federal prosecutors on Friday recommended a three-year prison sentence for Volkswagen AG engineer James Liang for his role in a diesel emissions scandal that has cost the German automaker as much as $25 billion. Prosecutors in U.S. District Court in Detroit said Liang, a diesel engine expert with more than 30 years of experience at VW, "provided an...

Aug 18- Delphi Automotive Plc said on Friday it has partnered with laser-based sensor maker Innoviz Technologies to improve vehicle safety for self-driving cars, after making a minority investment in the Israel- based company. Innoviz's LiDAR technology allows self-driving cars to identify objects at far distances, allowing them to travel at high speeds...

Trade Representative Robert Lighthizer emphasized at the opening of the talks on Wednesday that the United States was seeking major increases to the regional content required for goods to pass tariff-free between the three countries, including a demand for "substantial U.S. content" in the automotive sector. Canada, Mexico and the U.S. auto industry are...

LONDON, Aug 18- Anglo American is placing a contrarian bet on hydrogen fuel cell vehicles as it tries to squeeze more profit from its platinum reserves, but risks being left behind as rival miners look to cash in on battery-powered cars. A push, particularly in Europe and China, for lower-emission transport raises the prospect of weaker demand for platinum, whose...

BOSTON, Aug 18- Top Tesla Inc investors Fidelity Investments and T. Rowe Price cut their holdings in the second quarter and indicated they were taking profits from the electric car maker stock, which is up 65 percent this year. Sellers included Fidelity funds like Fidelity OTC Portfolio, which sold 1.62 million shares, or 43 percent of its position during the...

NEW YORK, Aug 17- Lawyers for car owners suing General Motors Co over faulty ignition switches and other defects on Thursday accused the carmaker of meddling in settlement talks and having issued threats that led to the canceling of an agreement. Under a deal with a trust that holds many GM liabilities from before its 2009 bankruptcy, the automaker would have...

WASHINGTON, Aug 17- Auto industry groups from Canada, Mexico and the United States are pushing back against the Trump administration's demand for higher U.S. automotive content in a modernized North American Free Trade Agreement. At talks underway this week in Washington, automaker and parts groups from all three countries were urging negotiators against...

Representatives from the United States, Canada and Mexico convened behind closed doors at a Washington, D.C. hotel in an effort to strike a new North American Free Trade Agreement. U.S.- Canada- Mexico trade has quadrupled since NAFTA took effect in 1994, surpassing $1 trillion in 2015.. "We're all in the same boat," said Flavio Volpe, president of the Canada's...

Weekly jobless claims drop 12,000. WASHINGTON, Aug 17- The number of Americans filing for unemployment benefits fell to near a six-month low last week, pointing to a further tightening in the labor market that could encourage the Federal Reserve to lay out a plan to start unwinding its massive bond portfolio. "Today's data were constructive towards our...

NEW YORK, Aug 17- In a blow to people suing General Motors Co over faulty ignition switches and other alleged vehicle defects, a trust that holds many GM liabilities from before its 2009 bankruptcy has canceled a settlement that sought to force the automaker to pay $1 billion in shares to resolve millions of claims. The settlement, first disclosed at a court...

*Sixt owns 50 percent of BMW's car-sharing firm DriveNow. FRANKFURT, Aug 17- German carmakers Daimler and BMW may be in talks to combine their car-sharing services Car2Go and DriveNow, the chief executive of car rental company and DriveNow partner Sixt hinted on Thursday. Asked whether Sixt was involved in merger talks with Daimler and BMW, Chief Executive Erich...

WASHINGTON— A slump in the auto industry drove U.S. factory output down in July and has kept it flat for months. The Fed said Thursday that factory production dropped 0.1 percent last month, pulled down by a 3.5 percent plunge in output of cars, trucks and auto parts. Auto production has dropped for three straight months and is down 5 percent over the past year.

FRANKFURT, Aug 17- German carmakers Daimler and BMW may be in talks to combine their car-sharing services Car2Go and DriveNow, the chief executive of car rental company and DriveNow partner Sixt hinted on Thursday. Asked whether Sixt was involved in merger talks with Daimler and BMW, Chief Executive Erich Sixt said: "At the last press conference I made clear that...

SEOUL, Aug 17- Hyundai Motor Co said on Thursday it was placing electric vehicles at the centre of its product strategy- one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. Like Toyota Motor Corp, Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has...