China's Dongfeng Motor will likely trim its stake in Peugeot owner PSA after hiring banks to study options, people close to the matter said, in a move that could ease the French carmaker's planned merger with Fiat Chrysler (FCA). Dongfeng has a 12.2% equity stake in the French carmaker, and would have about half of that in the combined entity formed by FCA and PSA, which announced in October a tie-up to create the world's fourth-biggest automaker. A smaller Dongfeng holding would likely help get the deal past U.S. regulators amid trade tensions between Washington and Beijing, an issue which has raised questions about the Chinese firm's next move since the PSA-FCA merger was announced. Dongfeng, a long-standing partner of PSA, had sent banks a request for proposals to explore options for the stake several weeks ago, according to the sources. The company is now aiming to present its board of directors a share sale plan in the coming days, one of them added. PSA declined to comment while … [Read more...] about China’s Dongfeng Plans Partial Sale Of PSA Stake: Report
Court reporters houston
Tesla Inc boss Elon Musk emerged victorious on Friday from a closely watched defamation trial as a federal court jury swiftly rejected the $190 million claim brought against him by a British cave explorer who Musk had branded a "pedo guy" on Twitter. The unanimous verdict by a panel of five women and three men was returned after roughly 45 minutes of deliberation on the fourth day of Musk's trial. Legal experts believe it was the first major defamation lawsuit brought by a private individual over remarks on Twitter to be decided by a jury. The outcome was a triumph for Musk, whose mercurial behavior in a number of instances last year came under close scrutiny from federal regulators and shareholders of Tesla, his Silicon Valley-based electric car manufacturer.The jury's decision signals a higher legal threshold for challenging potentially libelous Twitter comments, said L. Lin Wood, the high-profile trial lawyer who led the legal team for the plaintiff, Vernon Unsworth. "This verdict … [Read more...] about Tesla Boss Elon Musk Wins Defamation Trial Over His ‘Pedo Guy’ Tweet
Home Two wheelers oi-Sukesh Suvarna By Sukesh Suvarna Updated: Tuesday, November 13, 2018, 10:48 [IST] Husqvarna India is all set to begin operations in the country soon. As per reports, the Austrian motorcycle manufacturer will debut in India by mid-2019. The new Husqvarna bikes will be sold in India by Bajaj Auto and now more details about the launch have been revealed. MoneyControl reports that the Husqvarna Vitpilen 401 and Svartpilen 401 will be launched in India as CBU units. Currently, the Husqvarna Vitpilen and Svartpilen 401 are manufactured in Austria. Bajaj and KTM planned to move the production to India by early 2019. But now, Bajaj Auto has decided to launch the Husqvarna Vitpilen 401 and Svartpilen 401 as imported units. Bajaj Auto plans to start the local production of the Husqvarna Vitpilen and Svartpilen 401 after six months of its launch in the country. Both the bikes have been spotted testing in India and we can expect the launch to take place … [Read more...] about Husqvarna India Motorcycles To Debut Soon: Husqvarna Vitpilen And Svartpilen To Be CBUs
Lawrence Stroll is reportedly keen on buying into the carmaker. Aston Martin could be about to change hands, with Canadian billionaire Lawrence Stroll the reported suitor according to Autocar and RaceFans. Stroll, a fashion magnate, led a consortium that purchased the embattled Force India Formula 1 team last year and is reportedly set to lead a consortium that could buy into the British carmaker too.Aston Martin is currently owned by a number of different parties – The Kuwait-based Adeem/Primewagon shareholding group owns a 36 percent stake, Morgan shareholder InvestIndustrial owns 31 percent, while Mercedes owner Daimler owns a four percent share. The remaining 29 percent is publicly owned and it is currently unknown which share Stoll's consortium will buy, but it is understood to be a 'major' share. Get Up To Speed With Aston Martin: Aston Martin Opens New Factory To Build DBX SUV ⠀ Hear The Aston Martin Valkyrie Play Its Sweet V12 Tune … [Read more...] about Is F1 Billionaire Eyeing Up A Bid For Aston Martin?
The sports car maker wants to boost income before it gets listed on the stock market. McLaren is eyeing an expansion in Asia as sales fall in the U.K., the company's biggest market. The carmaker is suffering at home due to Brexit uncertainty, but U.S. and Asian sales outside of China remain strong right now. Nevertheless, it is keen to improve its position in the East as it looks towards a future public offering."We need to put more cars into Asia," McLaren CEO Mike Flewitt told reporters earlier this week. The company is already planning to open new dealer locations in Vietnam and the Philippines, as well as India and Russia. The aforementioned planned public offering could be a risky move for McLaren. A similar move for Aston Martin has seen its share prices slip by 59 percent. That being said, Ferrari, which was first listed in 2015, has enjoyed a 68 percent share price rise in the last year. What Has McLaren Been Up To? McLaren Plug-In Hybrid Supercar … [Read more...] about McLaren Eyeing Asia Expansion Ahead Of Public Offering