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General Motors Co. is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp. in conjunction with its landmark initial public offering, two people familiar with the matter said.
The two government-funded automakers are determining how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC’s ambitions to move beyond China, the sources said. Get the full story »
From Automotive News | General Motors Co. is dropping the GM Goodwrench car mechanic brand in the United States as the company moves to redirect the marketing emphasis around its four core vehicle brands, sources say.
BMW AG said Tuesday that it would recall more than 150,000 vehicles in the United States due to the possibility of fuel pump failures.
BMW said some 130,000 of its 2007 to 2010 model year vehicles equipped with twin-turbo six-cylinder engines would be recalled for software updates and a potential replacement of a high-pressure fuel pump. Get the full story »
Ford Motor Co. and Mazda Motor Corp. look set to drift further apart as the U.S. carmaker plans to wind down its stake in the Japanese company, leaving Mazda freer to make decisions, but possibly in need of a new partner down the line.
Ford is set to sell most almost all of its stake in Mazda, which stands at 11 percent, a source told Reuters Saturday. Trading house Sumitomo Corp. and other Japanese business partners of Mazda were in talks to buy the shares, the source said. Get the full story »
