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Business

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Panasonic Buys Majority Stake in Sanyo for $4.6bn

Panasonic has acquired a 50.19% stake in rival Sanyo Electric for $4.6bn, strengthening its position in the growing market for solar cells and rechargeable-batteries for electric and hybrid-electric vehicles.
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Navistar Takes Stake in Modec

03 December, 2009 08:39:00
Navistar said on Wednesday that one of its wholly owned affiliates has signed a joint venture agreement with Modec Limited of the United Kingdom to create the Navistar-Modec EV Alliance, LLC.
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Koenigsegg Pulls Out of Saab Purchase

24 November, 2009 10:06:00
GM confirmed that Swedish supercar maker Koenigsegg Group has canceled plans to buy Saab, and gave no reason why the deal fell apart.
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Chrysler Reveals Road Map to Future

05 November, 2009 09:01:00
Chrysler will try to become competitive, borrowing some of Fiat’s diesels, Italian platforms, smaller engines and technologies to help them build electric, announced on Wednesday Sergio Marchionne, the Fiat and Chrysler leader.
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ExxonMobil Affiliate and Toray Industries to Form Battery Separator Film JV

04 November, 2009 07:53:00
ExxonMobil Chemical’s affiliate TonenGeneral and Toray Industries have agreed to establish a global joint venture for the battery separator film business.
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GM Cancels Opel Sale to Magna

04 November, 2009 06:12:00
GM’s Board of Directors has decided to retain Opel and will initiate a restructuring of its European operations in earnest.
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Sanyo to Supply NiMH Batteries for Peugeot Hybrids

01 November, 2009 09:30:00
Sanyo Electric Co. will supply nickel-metal hydride batteries for PSA Peugeot Citroen Group's diesel-electric hybrid cars starting in 2011.
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BMW, SGL Forms JV to Make Carbon Fibers for Lightweight Vehicles

29 October, 2009 05:15:00
The BMW Group and the SGL Group have agreed on the establishment of a joint venture for the production of carbon fibers and textile semi-finished products (CFRP) for advanced lightweight vehicles.
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Toshiba to Build Second SCiB Production Facility

29 October, 2009 07:59:00
Toshiba will build a second dedicated production facility for its safe, long-life, rapid charge SCiB battery, in the Kashiwazaki Frontier Park, in Kashiwazaki city, Niigata prefecture.
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Geely Named Preferred Bidder for Volvo Car Corporation

28 October, 2009 07:49:00
Ford Motor Company announced today that a consortium led by Zhejiang Geely Holding Group Co. Ltd. is its preferred bidder in the ongoing discussions concerning the possible sale of Volvo Car Corporation.
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