Top News & Analysis Detroit

  • DETROIT/ SAN FRANCISCO, Feb 15- Amazon.com Inc said on Friday it would lead a $700 million investment in U.S. electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant's biggest bet on technologies with potential to reshape the automotive sector. Rivian could ultimately be valued at between $3 billion and $4 billion, one of the sources said.

  • DETROIT/ SAN FRANCISCO, Feb 15- Amazon.com Inc said on Friday it would lead a $700 million investment in U.S. electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant's biggest bet on technologies with potential to reshape the automotive sector. Rivian could ultimately be valued at between $3 billion and $4 billion, one of the sources said.

  • Feb 14- Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns. Munger, 95, often provoked laughter as he fielded questions at the annual meeting of Daily Journal Corp,...

  • Feb 13- Partners Volkswagen AG and Ford Motor Co are at odds over how much the German automaker will invest in the No. 2 U.S. automaker's self-driving vehicle unit, with Ford seeking at least $500 million, people familiar with the negotiations said. Analysts and investors have focused on the potential savings their alliance could generate, so any sign of problems...

  • Feb 13- Volkswagen AG and Ford Motor Co have been unable to reach agreement on whether or how much the German automaker will invest in Ford's self-driving vehicle unit, people familiar with the negotiations said. VW has resisted agreeing to invest in Ford's autonomous vehicle unit, instead preferring to announce the companies will simply work together in that...

  • Feb 12- Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday. It would be a major boost for the Plymouth, Michigan- based startup, which aspires to be the first carmaker to...

  • Feb 12- Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday. It would be a major boost for the Plymouth, Michigan- based startup, which aspires to be the first carmaker to the U.S....

  • Feb 12- Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday. The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. It would be a major boost for...

  • Feb 12- Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that will value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday. The deal would give Amazon and General Motors minority stakes in Rivian, the sources said.

  • *Milan- listed shares drop 12 percent. MILAN/ DETROIT, Feb 7- Fiat Chrysler shares fell 12 percent on Thursday after weaker-than-expected guidance for profits and industrial free cash flow this year raised doubts about the Italian-American carmaker's longer-term targets. But the comments did little to reassure investors who worry about FCA's over-reliance...

  • That is below analysts' average forecast of 7.3 billion euros and suggests little improvement on 2018, when FCA reported an adjusted EBIT on the same basis of 6.7 billion euros. The 2019 guidance also raises doubts over the 2020 forecasts the carmaker gave in June when late boss Sergio Marchionne promised to deliver an adjusted EBIT of 9.2- 10.4 billion euros.

  • DETROIT, Feb 6- General Motors Co on Wednesday outlined an incentive plan for the head of its self-driving car unit that points the way toward a possible initial public offering for the business. The No. 1 U.S. automaker disclosed a long-term compensation plan that incentivizes Dan Ammann, chief executive of the Cruise unit, to develop the technology and...

  • DETROIT, Feb 6- The head of General Motors Co's Cruise self-driving car unit stands to make more than $179 million over the next decade if the technology subsidiary experiences a change in ownership or is listed publicly, according to a regulatory filing on Wednesday. Dan Ammann, who stepped down as GM's president and was named chief executive of Cruise at the...

  • DECATUR, Texas/ FLINT, Mich., Feb 5- Mickey McMaster is on his 12th pickup truck. The 61- year old farm equipment dealer in Decatur, Texas, two weeks ago treated himself to a 2019 GMC Denali for around $69,000- a reward for long hours at work. At Flint, GM will build a new generation of its heavy-duty Chevrolet Silverado and GMC Sierras, including luxury models that are some...

  • Henry Ford with his Model T.

    The mayor of Dearborn ordered all the copies of the Dearborn Historian Autumn 2018 issue confiscated and had its editor fired.

  • The No.3 automaker in the United States by sales said it sold 156,021 vehicles in January, down from 167,056 vehicles a year earlier. Auto industry consultants J.D. Power and LMC Automotive forecast January auto sales to decline about 1 percent from the same month in 2018, partly due to uncertainty over the recent government shutdown. Bloomberg, however,...

  • The No.3 automaker in the United States by sales said it sold 156,021 vehicles in January, down from 167,056 vehicles a year earlier. Auto industry consultants J.D. Power and LMC Automotive forecast January auto sales to decline about 1 percent from the same month in 2018, partly due to uncertainty over the recent government shutdown. Bloomberg, however,...

  • The No.3 automaker in the United States by sales said it sold 156,021 vehicles in January, down from 167,056 vehicles a year earlier. Auto industry consultants J.D. Power and LMC Automotive forecast January auto sales to decline about 1 percent from the same month in 2018, partly due to uncertainty over the recent government shutdown. "In spite of some frigid...

  • Jan 31- Tens of millions of Americans braved Arctic-like temperatures on Thursday as low as minus 56 degrees Fahrenheit that paralyzed the U.S. The death toll rose from a previous 12 after at least nine more people in Chicago were reported to have died from cold-related injuries, according to Stathis Poulakidas, a doctor at the city's John H. Stroger Jr. Hospital.

  • The death toll rose from a previous 12 after at least nine more people in Chicago were reported to have died from cold-related injuries, according to Dr Stathis Poulakidas at the city's John H Stroger Jr Hospital. The wind chill at the time police found Gerald Belz, 18, was minus 51 F, according to the National Weather Service. Homeless and displaced people were...