Automotive – Page 2 – City Business News

June 17, 2020 No Responses

Volkswagen To Pay $267m For Audi Buyout

Volkswagen will pay a 48% premium to buy out the minority shareholders of premium division Audi, Audi said on Tuesday.Volkswagen, which already holds 99.64% of Audi, announced the squeeze-out plans in February.“Volkswagen AG announced and specified that it has set the cash...

June 16, 2020 No Responses

Nissan Unveils Agenda For New Rogue SUV

There’s a lot riding on the Nissan Rogue, the struggling Japanese automaker’s top-selling vehicle in the hottest part of its second-biggest market, the United States. The small SUV has been redesigned for the 2021 model year, and a replac...

June 14, 2020 No Responses

At AGM, Toyota Vows To Remain Profitable

The Chief Executive Officer of Toyota Motor Corporation, Akio Toyoda told shareholders at the automaker’s annual meeting that the company will remain profitable during the coronavirus pandemic, using lessons it learned during the global financial ...

May 29, 2020 No Responses

Stallion Group Unveils Stallion Africar Multi-Brand Auto Sales Portal

By Moses Ebosele, ebosele@hotmail.com — Foremost conglomerate, Stallion Group Nigeria has unveiled its end-to-end digital multi brand portal identified as www.stallionafricar.com. The Multi-brand Auto giant believes that a sizable business wi...

April 3, 2020 No Responses

Hyundai to establish Mobility Global Innovation Centre in Singapore

Foremost South Korean auto firm, Hyundai is to establish Mobility Global Innovation Centre (HMGIC) in Singapore with support from Singapore Economic Development Board (EDB). The lab is focussing on exploring ideas to revolutionize R&D process, busine...

March 25, 2020 No Responses

Auto Firms To Converts Factories To Make Ventilators

Car firms are answering calls from governments to help make more ventilators and face masks to help out during the coronavirus pandemic. Already, Fiat has commenced converting one of its car plants in China to start making about one million...

March 24, 2020 No Responses

Suzuki Halts Operations

India’s largest carmaker Maruti Suzuki has shut down all its operations including production in Gurugram and Manesar until further notice. In a statement, the company explained that R&D Centre at Rohtak will also remain closed, adding that prod...

January 15, 2020 No Responses

Kia Unveils $25b Expansion Agenda

South Korean carmaker, Kia Motors on Tuesday announced plans to invest $25 billion in new electric vehicles and business diversification worldwide in the next six years. Kia is also adding its K5 sedan and Sorento SUV to the existing electric...

December 31, 2019 No Responses

2019: A Year Of Downsizing For Auto Markets

If global automotive manufacturing were its own country, it would be the sixth largest economy in the world, a technical job-placement firm, Fircroft, declared in one of its report on the industry. This finding was made in 2017, when...

November 16, 2019 No Responses

Volkswagen Budgets $66b For Future Car Models

Volkswagen is to plough 60 billion euros ($66 billion) by 2024 into its switch to electric, hybrid and connected vehicles, as automakers around the world rev up electrification plans. The company explained on Friday that the sum is an increase...

October 28, 2019 No Responses

Renault Seek New Partners As Revenue Drops Further

French carmaker Renault is on the hunt for new partners to buy its cars and components as it reported a fall in quarterly revenue and pushed ahead on a strategic review with “nothing off the table”. According to agency reports,...

October 16, 2019 No Responses

Volkswagen Postpones Final Decision On Turkey Plant

Volkswagen has postponed the final decision whether to build a car plant in Turkey, the company said, amid international criticism of the country’s military operation in Syria and concerns about potential reputational fallout. “We are carefully mon...

September 15, 2019 No Responses

West Africa Automotive Parts Exhibition Holds In Lagos

West Africa Automotive Show (WAAS), a new international trade exhibition, is set to bring the region’s automotive parts industry together under one roof in November. For three days, an estimated 100 exhibitors from Nigeria and other countries will be g...