Daimler AG, the world’s third- biggest maker of luxury cars, will sell a 50 percent stake valued at 1.9 billion pounds ($3.2 billion) in an engine joint venture to partner Rolls-Royce Holdings Plc. to invest in its automotive and truck businesses.
PSA Peugeot Citroen’s incoming Chief Executive Officer Carlos Tavares hustled around the Geneva International Motor Show this week in a way that didn’t suggest he was taking one of the toughest jobs in the auto industry.
Chinese upstart Qoros Auto Co. is out to challenge Volkswagen AG, PSA Peugeot Citroen and other Europeans on their home turf, signaling a broader push by the country’s car manufacturers to target western customers.
Fiat SpA’s Chrysler division is dropping a request for provincial and federal Canadian funding to develop new minivans and other models, saying the carmaker will escape political interference by using its own money.
Volkswagen AG, Europe’s largest automaker, is weighing options for its Spanish division Seat to begin producing cars in China as part of a broader effort to restore earnings at the company’s only unprofitable unit.