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Autos

Renault-Nissan-Mitsubishi VC invests first $50 million in startups

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TEL AVIV The Renault-Nissan-Mitsubishi alliance's new venture capital fund has agreed five investments in four months totalling $50 million (37 million pounds) and will present another to its supervisory board next week, the fund's head said.

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China, U.S. near deal on ZTE reprieve; Beijing cuts auto tariffs 12:19pm BST

BEIJING Washington neared a deal to lift its ban on U.S. firms supplying Chinese telecoms gear maker ZTE Corp, sources said on Tuesday, and Beijing announced tariff cuts on car imports, further easing trade tensions between the world's two largest economies.

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VW recalls 11,000 Audi cars in Russia - watchdog 10:29am BST

MOSCOW Russia's standards agency said on Tuesday it had been informed about the voluntary recall of 11,003 Audi cars sold since last year.

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Aston Martin gears up for more growth ahead of possible flotation 21 May 2018

LONDON Luxury British carmaker Aston Martin remained in the black in the first quarter of 2018, although pretax profit fell due to a weaker dollar and investment on a series of model launches.

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Canadian businessman Latifi buys into McLaren 21 May 2018

LONDON Canadian businessman Michael Latifi, whose son Nicholas currently races in Formula Two, has bought a stake of around 10 percent in the McLaren Group that includes the Formula One team.

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Nokia phone licensee HMD raises $100 million to drive growth push 21 May 2018

HELSINKI HMD Global, the Finnish company that owns the right to use the Nokia brand on phones, has raised $100 million of funding intended to boost growth, it said on Monday.

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Hyundai Motor Group scraps revamp plan in victory for hedge fund Elliott 21 May 2018

SEOUL South Korea's Hyundai Motor Group has shelved a restructuring plan which would have given the son of its ageing chairman more control of the conglomerate, following opposition from investors including U.S. hedge fund Elliott Management Corp.

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Fiat Chrysler shares fall on latest diesel emissions allegations 18 May 2018

WASHINGTON Fiat Chrysler Automobiles NV shares fell more than 3 percent in New York trading on Friday amid investor concern about allegations mounted in court filings over alleged excess diesel emissions.

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BMW expands UK vehicle recall to 390,000 cars 18 May 2018

LONDON BMW is expanding a recall of vehicles in Britain, which it launched last week, by 88,000 cars to a total of 390,000, in the wake of a BBC investigation which found that some vehicles could cut out completely while being driven.

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Mercedes-Benz to make Tesla-rivalling electric compact car 18 May 2018

FRANKFURT Daimler will invest 500 million euros (436.7 million pounds) in Hambach, France, to start producing a small compact electric Mercedes-Benz in addition to its electric cars currently manufactured there for the Smart brand.