GM has begun researching strategic options for Cruise Automation that include a public sale of shares, listing a separate tracking stock, or spinning off the unit, Bloomberg reported, citing people familiar with the matter. GM won't make a decision until Cruise is further along in development and may not take any action for a couple of years, if at all.
Tesla shareholders re-elected three directors and voted against a proposal to split the chairman and CEO posts held by Elon Musk. The EV maker's goal of building 5,000 Model 3s per week by the end of June was "quite likely," Musk also told shareholders Tuesday.
German battery systems maker Akasol is preparing for a Frankfurt stock market listing before the summer break, raising money to invest in new capacity so it can benefit from an expected surge in demand from EV manufacturers.
Volvo is working on how to meet the challenges of electrification and self-driving cars and has the funds to do so regardless of whether the company launches a stock market flotation, CEO Hakan Samuelsson said.
Daimler CEO Dieter Zetsche said there was no indication the automaker's largest shareholder, Chinese auto magnate Li Shufu, was planning a hostile takeover, after he took a $9 billion stake in the company earlier this year.
VW Group's trucks chief, Andreas Renschler, wants to take his division to "the next level," with the manufacturer considering a stock listing that would catapult the $37-billion unit into the blue-chip ranks of Europe's largest economy.
The United States voiced willingness to negotiate a resolution to an escalating trade fight with China after Beijing retaliated against proposed U.S. tariffs on $50 billion in Chinese goods by targeting key American imports, including light vehicles, but the Chinese ambassador to Washington said it "takes two to tango."
Over decades, Toyota built a corporate culture that was the envy of the manufacturing world. Now the industry's most-emulated company is overhauling the way it brings its vaunted production system to every corner of the business.
The sale of a controlling stake in the money-losing Chinese automaker Qoros has helped boost the net worth of Israeli billionaire Idan Ofer by $200 million this week as shares of his Kenon investment company soared following the deal.
Aston Martin is targeting a valuation of as much as 5 billion pounds ($6.8 billion) in a potential initial public offering, Bloomberg reported. Investors' interest in an IPO could be bolstered by the automaker's planned expansion into the lucrative SUV segment.
Autoliv expects the spinoff of its electronics business, which makes radars, visions systems and driver assistance software, to be completed next year. Its airbags and seat belts business will continue to operate under the Autoliv name.