October 24, 2020

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    Uber offers over €1 billion to buy Daimler’s Free Now

    Ride-hailing company Uber Inc has offered over 1 billion euros ($1.19 billion) to purchase Daimler and BMW’s joint mobility services company Free Now, German business magazine Manager Magazin reported on Wednesday. While Daimler is ready to sell, BMW’s CEO Oliver Zipse is wavering about selling up, and is rather open to offering Uber a stake, Manager […]

    BMW , Daimler , Uber

    BMW says third-quarter cash flow in auto segment was above expectations

    BMW on Monday said rebounding markets helped the German automaker to deliver higher-than-expected free cash flow in the automotive segment in the third quarter. Free cash flow totaled to 3.07 billion euros ($3.61 billion) in the third quarter, increasing from 714 million euros ($840.16 million) in the year-earlier period, the automaker said on Monday. “This was […]

    Tactile Mobility

    BMW to use software from Tactile Mobility in next-gen vehicles

    Israel’s Tactile Mobility said on Tuesday its software will be embedded into the German automaker BMW’s next-generation vehicles starting in 2021. The collaboration will gear up with BMW vehicles with the ability to analyze the road surface attributes under their tires, allowing detection of road conditions. Tactile Mobility, founded in 2012, develops software that uses a […]

    BMW I8 luxury car

    BMW to lay off 10,000 contract workers, say sources

    BMW is not going to extend the contracts of 10,000 contract workers, a company source informed Reuters on Friday, as the German luxury automaker seeks to decrease its capacity because of the coronavirus crisis. The Munich-based company stated before on Friday it had reached an agreement with the works council a package of “personnel measures […]

    Volkswagen logo

    BMW, Daimler, Volkswagen fined by Germany for forming steel cartel

    Germany’s cartel authority stated on Thursday it was fining the three major automakers of the nation – BMW, Volkswagen and Daimler – a total of 100 million euros for forming a cartel to purchase steel. From 2004 to 2013, the automakers regularly met steelmakers and other firms in the supply chain to talk about uniform […]

    BMW , Daimler , Volkswagen
    Magna international logo

    Magna International to build dual-clutch and hybrid transmissions for BMW

    Canadian auto-parts maker Magna International stated on Wednesday it would construct dual-clutch and hybrid transmissions for German automaker BMW under a multi-year contract. The products will be made at Magna’s plants located in Germany and Slovakia, the company stated. Magna did not reveal the financial terms of the contract.

    Volkswagen, BMW, Daimler logo

    White House presses German automakers to boost U.S. investments

    President Donald Trump pressed senior executives of top German automakers to boost their investments in the United States as the White House thinks about imposing new tariffs on European-made vehicles. German automakers stated after the meeting they informed Trump they planned to increase U.S. investments, but cautioned they would not be able to do so […]

    BMW , Daimler , Volkswagen
    Volkswagen, BMW, Daimler logo

    German auto CEOs willing to attend White House meeting

    The bosses of Volkswagen, BMW and Daimler are ready to join a meeting at the White House with the Trump administration, but have not yet received an official invitation, industry sources stated on Thursday. The Handelsblatt newspaper on Wednesday mentioned industry and diplomatic sources as stating the meeting could possibly take place as soon as […]

    BMW , Daimler , Volkswagen
    Images of Volvo Concept 40 Series EV Electric

    BMW and Volvo to trial new LME steel contracts

    European automakers BMW and Volvo prepare to experiment with steel contracts to be introduced by the London Metal Exchange early 2019, a move which could ultimately modify the way the industry hedges and prices contracts, industry sources stated. The LME is introducing three hot rolled coil (HRC) steel futures expanding in Europe, North America and […]

    BMW , Volvo
    Daimler BMW logo

    Top German automakers stop sales of some plug-in hybrid cars in Europe

    Volkswagen, BMW and Daimler-owned Mercedes-Benz have stopped sales of some of their plug-in hybrid cars in Europe following the new emissions regulations, Automotive News reported on Thursday. The new Worldwide Harmonized Light Duty Vehicles Test Procedure (WLTP) regime, that went into effect on September 1, gives higher CO2 readings compared to the old New European […]

    BMW , Daimler , Volkswagen
    European Union EU

    EU investigates Volkswagen, BMW, Daimler for alleged emissions collusion

    EU antitrust regulators are probing if BMW, Daimler and Volkswagen colluded to limit the rollout of clean emission technology, a move that could result in hefty fines for the German automakers. The European Commission started an in-depth investigation, almost a year after it raided the firms and two years after it slapped a record 2.93 […]

    Cars , European
    Sixt rent a car

    Germany’s Sixt to challenge BMW, Daimler with ride-sharing offer

    Germany’s Sixt stated on Thursday it would introduce a new mobility platform this year that covers its traditional car rental and transfer services with a car-sharing offering, challenging automakers BMW and Daimler. In January, Sixt had sold its stake in car-sharing project DriveNow to joint venture partner BMW, which is expected to merge the company […]

    BMW logo

    BMW to increase its spending on R&D in 2018

    German automaker BMW will raise its spending more on research and development next year, to 6.5 to 7 percent of sales, finance chief Nicolas Peter informed Handelsblatt. “That is a lot of money, in absolute numbers it’s around 7 billion euros ($8.3 bln), which is almost as much as we spent in 2011 and 2012 […]

    BMW 4-series car

    BMW investigation into cartel allegations requires more time

    BMW has hired a law firm to assist with an internal investigation of a supposed cartel among German automakers and requires more time before any conclusions can be drawn, CEO Harald Krueger stated. “Of course we will keep investigating this,” Krueger stated on Tuesday. “This is going to take a while.” BMW, Daimler and Volkswagen […]

    Sixt rent a car logo

    Sixt CEO signals car-sharing merger talks of BMW and Daimler

    German automakers Daimler and BMW could be in talks to integrate their car-sharing services Car2Go and DriveNow, the CEO of automobile rental company and DriveNow partner Sixt hinted. Daimler and BMW have talked about pooling their car-sharing services to better contend against ride-hailing business like Uber and Lyft which have begun providing pay-per-use mobility services […]

    BMW , Daimler

    If you're planning an Off-Road Adventure into the outback, as a minimum, you’ll need an air compressor. Be sure to read this guide to choose the best off road 12 volt air compressor.