Bayerische Motoren Werke AG, the world’s largest maker of luxury vehicles, will supply Toyota Motor Corp. with diesel engines as part of a cooperation agreement that will initially focus on developing car batteries.
Cummins Inc., the maker of diesel truck engines and generators, reported first-quarter profit that topped analysts’ estimates and raised its 2010 sales forecast as demand increased in Asia and Latin America. The shares climbed.
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.
Volvo AB will appeal a $72 million penalty imposed on its truck-engine unit after a federal judge found the company violated a 1999 emissions-control agreement with the U.S. Environmental Protection Agency.