It seems that buying Opel by the Canadian-Austrian manufacturer of automotive components Magna – is a case that is resolved. However, the ongoing negotiations between Magna and the parent corporation of Opel – General Motors (GM) – is increasingly becoming a war of nerves. Thus, an information has been released from the depths of GM Read more
Volkswagen has announced the final terms of the merging of Volkswagen and Porsche companies that looks more like an ultimatum to Porsche. Volkswagen will pay an amount of 3 to 4 billion euros to Porsche, after which the two automakers will proceed to merging, transmits Reuters. As a result of the deal, the shares of Read more
ZeniMax Media, which is the parent company of Bethesda Softworks, the developer of computer games TES and Fallout 3, announced about the acquisition of a not less famous and serious company IDSoftware, which is the developer of Doom, Wolfenstein and RAGE. However, the new acquired company did not not become a place for innovations or Read more
Chinese automobile corporation Geely Automobile Holdings has reached a preliminary agreement in buying Volvo from the American company Ford Motor Co. According to Chinese media, the value of the transaction will be no less than $ 3 billion. In case of success Geely will model Volvo XC90 at a factory in Guangzhou. According to expert Read more
The possibility of the bankruptcy of the German automaker Opel is still there. This statement was made by the Minister of Economy of Germany Gutenberg. “All of this can still happen” – he said. Previously, Karl-Theodor zu Gutenberg has repeatedly stated that the acquisition of the German automaker Opel by Magna International Inc. carries many Read more
The American auto giant asks his German «daughter» not for money, but for the agreement on investment. As reports Financial Times, referring to informed sources, GM can give the majority of stake of Opel and British Vauxhall, as well as of the Swedish brand Saab to an investor who will promise to invest at least Read more
In the midst of the global financial crisis, all eyes and all hopes of the world’s automotive industry are turned to the Shanghai auto show. This is not surprising, given that China is now one of the most promising automobile markets. Companies that suffer losses in their homeland, earn profits in China. Everywhere where a Read more
At the end of last week, a major mining company Rio Tinto – the world’s second-largest supplier of iron ore – announced its plans to establish a joint venture (JV) with rival BHP Billiton. If the transaction receives the approval of regulatory authorities, the joint venture will control some 60% of the world market of Read more
Future plants of Renault (Renault) in Spain are hanging in the air after the announcement of 78% drop in profit for 2008, which amounts to € 599 million. The same uncertainty is with the group Peugeot-Citroen (Peugeot Citroen), which has lost € 343 million over the last year and reported the need to reduce 11’000 Read more
Global Automotive World is rapidly changing its appearance under the influence of the global economic crisis. General Motors, founded in 1908, the largest automakers in the world for 77 years, applied to the court a statement of voluntary bankruptcy on June 1, which provides court protection from creditors. Most recently, symbolizing the power and dynamism Read more
Google Inc has established a $100 million venture fund to invest in start-up, but full of potential Internet firms, which need early stage funding to develop their business. Google Ventures will wholly belong to the Cupertino company and will actually look for firms through which Google will increase its revenue in this hard times. Google Read more