acquisition


Geely looking for 1M units from Volvo, plans Chinese factory

Should Geely succeed in its bid to purchase Volvo, the Chinese automaker does not plan to spend any time playing in its new Swedish sandbox. Ford moved about 380,000 Volvos around the world last year; Geely wants to sell 2.5 times that amount within five years. How so? By injecting "two or three bigger, more luxurious cars" into the lineup and working its home market of China, which Geely feels could be unlocked for 200,000 vehicles alone. Those units could be supplied by a Chinese factory capable of making 300,000 cars per year and would ... Read more →

REPORT: VW bids to save Karmann but coachbuilder holding out for more money Jonathon Ramsey

German coachbuilder Karmann has been in trouble since before the global economy caught its version of the swine flu, and from a workforce of 5,000 the company is down to 1,800. A huge order for VW ...

Recork the Champagne? China says Hummer paperwork not submitted yet Jonathon Ramsey

Last week, it was reported that General Motors had signed a definitive agreement to sell Hummer to Chinese machinery manufacturer Tengzhong. The Chinese company and its partner in the deal, Lumena ...

REPORT: Major obstacle cleared as Swedish government to guarantee $615M EIB loan for Saab Jonathon Ramsey

A major hurdle in Saab's transfer to the homegrown hands of Sweden's Koenigsegg has been surmounted: the Swedish government has agreed to guarantee a 4.3 billion kroner ($615M U.S.) loan from the ...

RHJ ups offer for Opel, commits to Vauxhall, has "good chances of winning" Jonathon Ramsey

Belgian investment firm RHJ, once considered a back-up bidder for Opel, is now considered a front-runner – at least according to its own CEO. RHJ head Leonhard Fischer has already told U.K. ...

HUMMER hanging on: Tengzhong in talks with Chinese government to clear sale 4 months ago on Autoblog

Chinese National Radio recently reported that Tengzhong wouldn't be allowed to purchase Hummer due to environmental concerns. The company released a statement after that news broke saying that while there was no "definitive agreement," the CNR report wasn't based on facts from the government ...

SAIC and Nanjing merge to form mega Chinese auto group 1 year ago on Autoblog

Industry analysts widely agree that one of the principal factors preventing Chinese automakers from succeeding outside of China is the local industry's fragmentation, with over 100 automakers vying for their slice of the proverbial pie. However, a merger announced Wednesday between two major Chinese ...

Fiat chief: Alfa Romeo could benefit from Tata-Jaguar acquisition 1 year ago on Autoblog

The upcoming Alfa Romeo 169 flagship sedan is slated to be based on a modified platform from sister-company Maserati, but a potential tie-in with Jaguar could provide an interesting alternative. A report from British magazine Autocar recalls that Alfa's parent company Fiat initially expressed ...

Porsche doesn't plan to take over VW... yet 2 years ago on Autoblog

The latest in Porsche-Volkswagen relations is that the sports car maker has contingencies in place to raise its stake in the VW Group, but at this point is not planning an outright takeover. As you may recall, when Porsche recently increased its ownership in Volkswagen AG, it was bound by German ...

London Times claims Ford is selling Volvo. Ford says "We never said that." 2 years ago on Autoblog

There are so many people inside and outside of Ford saying so many different things about Volvo that it's entirely possible the Swedish brand will be sold and Ford won't realize it until weeks later. The London Times Online posted an article yesterday stating that Ford decided, "in principle," at a ...

Ghosn seeking partnership with US automaker again 2 years ago on Autoblog

According to the French newspaper Le Parisien, Renault-Nissan CEO Carlos Ghosn is on the hunt again for a U.S. partner. Considering that talks with General Motors about a possible alliance fell through last year when neither side could agree on what the other's partnership was worth, Ghosn has only ...

Dennis Publishing acquires Octane magazine 2 years ago on Autoblog

In the ongoing struggle between magazines and websites, it should be immediately clear to anyone where we stand. With websites like ours getting constantly updated as the news emerges, magazines are increasingly becoming an outdated relic for delivering automotive news to enthusiasts (like yourself, ...

Thinking Big: new law opens path for Toyota takeover of Subaru 2 years ago on Autoblog

Toyota has been eying a takeover of Fuji Heavy Industries – Subaru's parent company – for some time now. When General Motors ditched its 20 percent stake in Fuji back in October 2005, Toyota snapped up 8.7 percent and the two have been undertaking a series of joint ventures since. But ...






Autoblog Podcast #154: Gobbling up the News

Chris, Sam, and Dan kick out a podcast just in time for the long holiday drive.

 
 

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