Fri, Sep. 9, 6:18 PM
- Ford (NYSE:F) agrees to acquire a San Francisco-based private bus service Chariot for an undisclosed sum, saying it plans to expand the service globally, as the company aims to expand beyond auto manufacturing and takes another step toward becoming a mobility company.
- Ford CEO Mark Fields wants to position the company to deliver transportation solutions rather than simply vehicles, betting that mobility in congested, urban zones will help protect traditional automakers as the advent of autonomous vehicles and the growing popularity of ride services such as Uber and Lyft threaten car ownership.
- Ford says Chariot will expand to at least five additional metro areas within the next 18 months; the service currently uses 100 Ford Transit vans to shuttle riders along 28 routes around the San Francisco Bay Area.
Jan. 6, 2015, 8:20 AM
- The spinoff of Ferrari could give Fiat Chrysler Automobiles (NYSE:FCAU) enough breathing room to seek a merger partner, according to auto industry analysts.
- The rising cost of developing clean cars in Europe and the U.S. sets the stage for automakers to join forces through mergers and extended partnerships.
- "Eventually it must happen," notes FCA chief Sergio Marchionne on the topic of mega-mergers.
- No company is too big to be ruled out of the merger discussions due to the benefits of scaling investment costs and matching strengths/weaknesses in Europe, Latin America, China, and the U.S, note insiders.
- Automakers: GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:FUJHY, OTCPK:MMTOF, OTCPK:PEUGF, OTC:RNSDF, TTM, KNDI. OTCPK:SZKMY, OTCPK:MZDAY.
Oct. 29, 2012, 5:52 AM
Ford (F) agrees to sell its climate-control business to Detroit Thermal Systems, a JV of France's Valeo and entrepreneur Vincent Johnson. While the price is undisclosed, the deal is significant because it represents the final step in a 2006 plan to cut Ford's North American workforce and sell its Visteon (VC) parts facilities. The plan was put in place by Mark Fields, hotly tipped to be Ford's next CEO. (PR)| Oct. 29, 2012, 5:52 AM
Jul. 6, 2011, 3:57 PM