Automotive IT News and Facts
Renault is selling its remaining stake in AB Volvo and will use the proceeds to reduce debt and make investments both in France and internationally. The French carmaker said the 6.5 pc shareholding in the Swedish truck maker is being sold through a private placement in Sweden and elsewhere. The stake represents 17.2 pc of [...]
Volvo Cars has appointed former MAN boss Hakan Samuelsson CEO of the Swedish automaker, succeeding Stefan Jacoby, who suffered a mild stroke in September. Jacoby will leave the company “after an amicable agreement,” Volvo said. The appointment of Samuelsson, a supervisory board member of Volvo since 2010, means the top position at Volvo Cars will [...]
Chinese car manufacturer Zhejiang Youngman will buy a 29.9 pc stake in Spyker for 10 million euros, the Dutch luxury sports car maker said Monday. The two companies will also establish  a joint venture to build a new range of cars. Youngman, which will pay 25 million euros into the venture, will hold 75 pc [...]
Saab Automobile will get a chance to live on as an electric-vehicle brand following an investment group’s successful acquisition of some key corporate assets. National Electric Vehicle Sweden AB said it has agreed with bankruptcy administrators to acquire Saab’s main plant in Trollhaettan, Sweden, as well as the intellectual property rights for the Saab 9-3 [...]
