German partsmaker ZF Friedrichshafen has reached a deal to buy U.S.-based TRW Automotive Holdings for $105.60 a share, completing a supply chain megadeal that has been in the works since mid-July.The transaction will create the world’s second-largest auto supplier with pro forma combined revenue of about €30 billion ($41 billion) and 138,000 employees, ZF and TRW said in separate statements.
Toyota C-HR crossover concept to debut in Paris
The Japanese manufacturer announced it will unveil its new compact crossover concept, dubbed the C-HR, to the Paris Motor Show in October.
Toyota and partners launch Cité lib by Ha:mo EV car sharing in Grenoble
The City of Grenoble, France, its metropolitan area Grenoble-Alpes Metropole, EDF and its affiliate Sodetrel, Toyota and Cité lib officially launched the new “Cité lib by Ha:mo” electric vehicle car-sharing service.
Tesla’s Nevada ‘gigafactory’ FAQs
By SCOTT SONNER
Now that Gov. Brian Sandoval has signed into law a package of incentives for Tesla Motors worth up to $1.3 billion, the electric-car maker is moving ahead with plans to build a $5 billion lithium battery factory expected to open in 2017 and employ 6,500 workers to make cheaper batteries so it can afford to mass market a new line of more affordable vehicles.
Montezemolo’s Ferrari departure no laughing matter
After announcing his departure as Ferrari chairman at a news conference Wednesday, Luca Cordero di Montezemolo put his hands on Sergio Marchionne’s shoulders and gently pulled him away from a scrum with journalists eager to ask more questions.
