Aston Martin aims for $6.7 billion October IPO

By Costas Pitas LONDON, Sep 20 : Luxury British carmaker Aston Martin said on Thursday it was seeking a valuation of up to 5.07 billion pounds ($6.7 billion) as it set a price range of 17.50 pounds to 22.50 pounds per share for its stock market flotation. The company, famed for making the sports car […]

Hyundai signs deal to sell 1,000 hydrogen-powered trucks in Switzerland

By Hyunjoo Jin SEOUL, Sept 19 : Hyundai Motor said on Wednesday it will sell 1,000 hydrogen-powered trucks in Switzerland over the next five years through a new tie-up, betting the vehicles could beat battery-powered models sold by the likes of Tesla Inc. South Korea’s Hyundai and Japan’s Toyota are among a handful of car […]

Volvo Cars drops IPO due to trade tensions and auto stocks downturn

By Norihiko Shirouzu and Laurence Frost BEIJING/PARIS Sept 10 : Volvo Cars and its Chinese owner Geely have postponed plans to float shares in the Swedish carmaker, blaming trade tensions and a downturn in automotive stocks. But while Volvo’s plans for a Stockholm listing were delayed indefinitely, Britain’s Aston Martin vowed to push ahead with […]

VW investors seek $11 bln damages over dieselgate scandal

By Jan Schwartz BRAUNSCHWEIG, Germany, Sept 10 : Volkswagen went on trial on Monday to face investors seeking 9.2 billion euros ($10.6 billion) in compensation, arguing the carmaker should have informed shareholders earlier about its diesel emissions scandal. Shareholders representing 1,670 claims are seeking compensation for a slide in Volkswagen’s (VW) share price triggered by […]

China’s Geely puts brakes on Volvo Cars listing, trade war a concern -source

By Norihiko Shirouzu BEIJING, Sept 10 : Chinese carmaker Geely is delaying plans to list Volvo Cars due to uncertainties created by escalating trade tensions and the need to bolster the Swedish brand’s presence in China, said a person familiar with the matter. Geely, which is led by magnate Li Shufu and has been one […]

Brazil automakers association may cut exports estimate

By Flavia Bohone RIO DE JANEIRO, Sept 6 : Brazil’s automakers’ association said on Thursday it would likely cut its 2018 export estimate as the Argentina crisis dampens demand in the neighboring country, the largest buyer of Brazilian cars. A review is expected next month, the trade group Anfavea told journalists at a news conference. […]