Posts Tagged → BUSINESS News
BMW Group and Allianz SE to intensify global cooperation
* 25.09.2009
Declaration of intent signed by CEOs
Munich. The BMW Group and Allianz SE are planning to intensify their cooperation on a global level. The CEOs of the two companies, Norbert Reithofer and Michael Diekmann, signed the respective declaration of intent in Munich yesterday.
The agreement focuses on a range of vehicle and mobility related insurance products for end customers, such as automobile insurances and used-car warranties. These products are to complement the broad range of financial services already offered by BMW Financial Services.
The goal is to provide customers with the same standardized products worldwide, to deliver consistent premium service as well as to generate synergies and economies of scale.
Norbert Reithofer commented on the agreement: “Allianz SE is the perfect partner for us and our customers worldwide as the company is going to support us with a comprehensive range of transparent, high-quality premium products. We regard this cooperation as an element in the implementation of our strategy Number ONE, namely in becoming the world’s leading provider of premium products and premium services for individual mobility.”
Michael Diekmann added: “Allianz is a strong partner for the BMW Group and their customers, not only due to our expertise in matters of designing and marketing insurance solutions for automakers and their dealership networks but also thanks to our global presence and in-depth knowledge of local market conditions. This global partnership builds on successful existing collaborations between the BWM Group and Allianz’ international subsidiaries.”
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GRAND OPENING CEREMONY AT HYUNDAI MOTOR MANUFACTURING CZECH (HMMC) PLANT
- EUR 1 billion investment
- 300,000 units per year and 11,000 jobs by 2011
(Nosovice, Czech Republic) Hyundai Motor Co., South Korea’s largest automaker, officially opened its EUR 1 billion manufacturing plant in Nosovice, Czech Republic, today.
With mass production having started in November last year, Hyundai Motor Manufacturing Czech (HMMC), a fully-owned subsidiary of Seoul-based Hyundai Motor Co., has the current capacity to build 200,000 vehicles annually, which will be increased by 100,000 to reach 300,000 units per year in 2011.
The first vehicle to be produced was the award-winning i30 C-class five-door hatchback, and was joined by its sister model, the i30cw (estate wagon), in February of this year. The third model to be built by HMMC will be the Kia Venga, a B-segment MPV, production of which will start in the last quarter of 2009, while a fourth model will be added in 2011, when production capacity will be increased to 300,00 units per annum in a three shift operation.
With the completion of the Czech factory, Hyundai Motor now has a production foothold in all major markets, including the USA, China, India and Turkey. This global production network will enable the company to supply top-quality vehicles to customers around the world more quickly and efficiently.
“With our global production system, we will continue to focus on providing the highest quality vehicles, the most important principle of our management philosophy. Our goal is, and always has been, to become one of the world’s leading automotive companies” said Hyundai Motor Co. Vice Chairman Euisun Chung at the opening ceremony today.
“The Nosovice plant does have a very vital role to play in realizing our global goals. So we will carefully nurture this new plant to make it an exemplary facility within the global automotive industry” he continued.
Production of the i30 hatchback and wagon, both designed at Hyundai’s European Design and Technical Center in Russelsheim, Germany, recently hit 80’000 units since November of last year. Approximately 90 percent of the models rolling out of the Nosovice plant are sold in Europe, while the remaining 10 percent are exported to the Middle East and Africa.
Fulfilling Hyundai’s promise to provide a significant impetus to the growth and development of the Czech economy, 2,000 new jobs have been directly created at the new plant. At the supplier level, a further 4,000 jobs have been created, taking the total number of associated employment to 6,000. By 2011, the company plans to extend its number of direct and indirect employees to 3,500 and 7,500, respectively, creating 11,000 jobs in total.
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GM India and Reva Announce Electric Vehicle Partnership
New Delhi – General Motors India and Reva Electric Car Company announced today in New Delhi the signing of an agreement to cooperate in the development of electric vehicles for the India market.
GM India and Reva will jointly develop car platforms, electric vehicle technology and advanced vehicle control systems. Their goal is to create and launch an affordable small car for domestic consumers.
“We are pleased to be joining hands with Reva, a leader in the development of electric drivetrains and control systems,” said GM India President and Managing Director Karl Slym. “We will also work closely with the government of India, which has expressed a goal of reducing fossil fuel dependence, in the development of an electric vehicle infrastructure. We look forward to giving our customers a new choice of environmentally friendly products.”
The two companies have begun feasibility studies of GM’s small vehicle platforms to host the electric technology. GM and Reva plan to announce more details about the vehicle soon and begin production in 2010.
Chetan Maini, Deputy Chairman and Chief Technology Officer of Reva, said: “We are extremely happy that we have found a partner in GM India that shares our passion for reducing carbon emissions. Reva and GM India will leverage our companies’ strengths to help make India a global hub for the development and manufacture of electric vehicles and related technologies. Our unique collaboration has the potential to result in far-reaching changes for the industry.”
“Development of small electric vehicles is a growth area for the automotive industry. We expect cooperation with Reva in India to accelerate GM’s progress to meet the emerging needs in many parts of the world,” said Nick Reilly, President of General Motors International Operations.
GM is pursuing several energy alternatives and advanced technology options to meet the varied needs of customers around the globe. GM believes that electrically driven vehicles, based on battery and hydrogen fuel cell technology, offer the best long-term solution for providing sustainable personal transportation. It will continue its own research and development in this area.
GM recently opened its new Global Battery Systems Lab, which is the largest and most technologically advanced battery lab in the United States. The new lab will lead GM’s global advanced battery engineering resources and expedite the introduction of electrically driven vehicles, including the Chevrolet Volt, as well as plug-in hybrid and hybrid-electric vehicles and fuel cell vehicles.
The Chevrolet Volt, which is scheduled to start production in The United States in late 2010 as a 2011 model, is expected to travel up to 40 miles (64 kilometers) on electricity from a single battery charge and be able to extend its overall range to more than 300 miles (483 kilometers) with its flex fuel-powered engine-generator. The Chevrolet Volt uses grid electricity as its primary source of energy to propel the car.
Reva Electric Car Company is based in Bangalore, India. It has more than 14 years of experience in electric vehicle research and development. Reva was the first company to commercialize electric cars. It is selling or test marketing its products in 24 countries in Asia, Europe and Latin America. It has the largest deployed fleet of electric cars, with more than 3,000 vehicles on the road and more than 43 million miles (70 million kilometers) of user experience. In recognition of its achievements, Reva was the recipient of the Frost & Sullivan 2008 Automotive Powertrain Company of the Year award.
General Motors Company, one of the world’s largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 219,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM India operates two vehicle manufacturing facilities and sells and services a growing lineup of Chevrolet products. More information can be found at www.gm.com.
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Daimler Buses Receives Two Major Orders from Netherlands for 425 Buses
Stuttgart
,
Sep 18, 2009
*Largest contract to date for Daimler Buses in the Netherlands for 350 buses
*Additional orders for 75 urban buses with environmentally friendly natural gas drive
*Delivery of Mercedes-Benz urban and intercity buses to be concluded in December 2009
Daimler Buses has once again won two contracts, and as a result it will deliver a total of 425 buses to the Netherlands by December. The biggest contract from the Netherlands to date is for 350 Mercedes-Benz urban and intercity buses, which were ordered by Qbuzz, a private bus operator with headquarters in Amersfoort. The vehicles will be employed in the provinces of Drenthe and Groningen. The second major contract is for 75 natural gas-powered Mercedes-Benz urban buses, which were ordered by Connexxion, the Netherlands’ largest public transport company, with headquarters in Hilversum. The environmentally friendly low-emission natural gas buses will be employed in the Arnhem-Nijmegen region.
“We’re very happy about the two big orders from the Netherlands,” says Hartmut Schick, head of Daimler Buses. “They show that our high-quality and environmentally friendly buses are also successful in economically challenging times. As a result, we will be able to fully utilize the production capacity of our European plants until the end of the year.”
Daimler Buses will manufacture Mercedes-Benz brand urban and intercity buses for the two customers. Qbuzz has ordered Citaro LE and Citaro NF solo and articulated urban buses with a low-floor design. The Citaro LE and NF solo vehicles are 12 meters long, while the Citaro NF articulated vehicles are 18 meters long, offering seating for up to 53 passengers. The economical low-emission buses are equipped with the pioneering Mercedes-Benz BlueTec SCR diesel technology and meet the Euro 5 and EEV (Enhanced Environmentally Friendly Vehicle) emissions limits. Qbuzz has also ordered Mercedes-Benz Integro intercity buses, which are 12 meters long and offer seating for 47 passengers. The Mercedes-Benz Integro is an appealing and profitable solution for the bus operator, thanks to the low operating costs, high quality standards, great versatility, and long service life of the vehicle and its components. The whole contract is being financed through Daimler Financial Services Netherlands, while the EvoBus Service partner Wensink will repair and maintain the vehicles.
The other customer, Connexxion, is also focusing on environmental friendliness with its order of 75 natural gas-powered Mercedes-Benz Citaro CNG urban buses. Daimler Buses will be delivering two variants of the Citaro CNG: a solo bus measuring 12 meters and an articulated bus measuring 18 meters. The solo vehicle’s engine has an output of 185 kW (252 hp), while the articulated bus is equipped with a drive generating 240 kW (326 hp). The contract for 75 vehicles consists of 69 solo buses and six articulated buses, all of which generate very low emissions and meet the EEV standard. In total, more than 1,200 Mercedes-Benz Citaro CNG buses are in use by customers.
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Dr. Joachim Schmidt to become Head of Sales and Marketing at Mercedes-Benz
Stuttgart
,
Sep 17, 2009
Dr. Joachim Schmidt (61), currently Head of Sales Central/Eastern Europe, Africa & Asia, will take over the position of Head of Sales and Marketing at Mercedes-Benz Cars, including responsibility for sales companies around the world, as of October 1, 2009. He will replace Dr. Klaus Maier, who has decided not to extend his contract for personal reasons.
Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Chief Executive of Mercedes-Benz Cars: “As Head of Sales at Mercedes-Benz, Klaus Maier has made his mark in many ways. This applies to brand positioning as well as the realignment of the product portfolio towards a younger target group. In addition, Klaus Maier has initiated the reorganization of worldwide sales. I very much regret that Klaus Maier would now like to leave his position for personal reasons.”
The successor to Dr. Klaus Maier has more than 20 years of experience in the field of sales. Dr. Dieter Zetsche: “In Joachim Schmidt, we have a professional taking over sales at Mercedes-Benz Cars – an executive who knows the company better than most. It is largely thanks to him that the Mercedes-Benz brand grew at double-digit rates and extended its market leadership in the regions for which he was responsible in 2007 and 2008. I am delighted that we have gained him for this position.”
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BMW AG reaches agreement with investor on sale of the BMW Sauber F1 Team
Munich/Hinwil, 15th September 2009. BMW AG, based in Munich, Germany, is pleased to announce today that Qadbak Investments Ltd, a Swiss-based foundation which represents the interests of certain Middle East and European based families, has agreed to purchase the BMW Sauber F1 Team, based in Hinwil, Switzerland. The contract was signed today (Tuesday).
A strong investor has therefore been found for the Hinwil-based team. Qadbak?s interest in the team will be represented by Lionel Fischer, a Swiss national.
BMW wishes Qadbak and the Sauber Team every success for the 2010 season and beyond.
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Volkswagen Group boosts activities in China
Investment of four billion euros in plant expansion and new products
Wolfsburg/Beijing, 11 September 2009 – The Volkswagen Group is set to continue its growth in China over the next few years. Between 2009 and 2011, the Group is to invest a total of four billion euros in new products and the expansion of production capacities in China. The investments are to be financed from the cash flow of the Chinese joint venture companies. At the Nanjing and Chengdu plants, production is to be boosted to between 300,000 and 350,000 units in each case by 2012. These investment plans were approved today by the Supervisory Board of Volkswagen Aktiengesellschaft.
“For the Volkswagen Group, China is one of the most important markets in the world We are already well-positioned there with a broad product portfolio,” said Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft. “Demand for our models is growing so dramatically that our capacities in China are no longer sufficient. Our investment decision has laid the foundations for continuing the Group’s success in China in the future,” Winterkorn added.
“In China, we will see clear double-digit growth in 2009 and expect to remain the market leader in the future. Volkswagen Group China is well on the way to reaching the target of doubling sales to two million vehicles laid down in our Strategy 2018 earlier than planned,” commented Dr. Winfried Vahland, President and CEO of Volkswagen Group China.
The planned investment of a total of 1.3 billion euros in new products and capacity expansion at Nanjing and Chengdu will include additional production facilities with body, paint and assembly shops. From 2012, three new models are set to leave the production lines at Nanjing and two at Chengdu.
The Volkswagen Group has long been the market leader in China and offers its customers the broadest product portfolio of any automaker. This year, three new models have already been launched on the Chinese market, the Volkswagen Golf, the Volkswagen Passat New Lingyu and the ?koda Superb. The product offensive is to receive a further boost from the introduction of highly advanced Group technologies such as the 7-speed DSG or economical TSI engines on the Chinese market.
Currently, models manufactured by the Volkswagen Group in China include the Volkswagen Polo, Lavida, Santana, Santana Vista, Passat New Lingyu, Touran, Golf, New Bora, Jetta, Sagitar and Magotan, as well as the ?koda Fabia, Octavia and Superb and the Audi A4L and A6L.
The monetary and fiscal measures taken by the government have provided positive impetus for the Chinese automobile industry. In China, deliveries by the Group rose to 652,222 units (2008: 531,612 units; +22.7 percent) in the first half of 2009.
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Schumacher and Ferrari: a family affair
Maranello, 11 September 2009 – The relationship between Michael Schumacher and Ferrari seems to be destined to last forever. After eleven years as a driver for the Scuderia, winning five Drivers’ and six Constructors titles with the team, Michael will continue working as a consultant for the Prancing Horse, which he has been doing since 2007, for another three years. This has been announced by Michael on his website: “Yesterday in Maranello Chairman Montezemolo and I agreed on extending our collaboration for another three years. I’m very happy about it, because I always loved being part of the family Ferrari, a name that stands for passion, high quality and top-level sportiness. The agreement foresees that my contribution is more and more directed to the area of road cars. It was extremely nice for me to participate in the development of the Ferrari California, the 430 Scuderia and the new born 458 Italia, which will be officially presented next Tuesday at the IAA Frankfurt: I can’t wait to be part of the future projects in Maranello.”
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Ferrari Press Release
Maranello, 10th September – Scuderia Ferrari Marlboro is pleased to announce that it has reached an agreement with the Santander Bank, which, as from 2010, will become of the team’s most important sponsors.
“We are very happy to have a new partner like Santander, with whom we are beginning a very important and long term collaboration,” commented President Luca di Montezemolo. “We share common values, such as striving for excellence, a passion for competition, an international approach and, last but by no means least, the colour red. These values will make this a fruitful partnership, noteworthy around the world.”
The agreement, which is for a five year period, will see the Santander logo and branding on the cars, the drivers’ overalls and on the team kit.
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GM Board Recommendation to Sell Majority Stake in Opel/Vauxhall to Magna International/Sberbank
* GM to sell 55% stake in New Opel to Magna/Sberbank
* Agreement on new ownership structure signals fresh start for New Opel
* Employees to hold 10% stake in New Opel
* Government supports financing through additional state guarantees
Zurich. General Motors today announced that its Board of Directors supports a bid from the consortium of Magna International Inc. and Sberbank to buy a majority stake in its European Opel/Vauxhall operations.
Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal with the necessary cost restructuring for viability and the finalization of a definitive financing package from the German government. The definitive agreements should be ready to sign within a few weeks, with closing to follow within the next few months. Under the deal, Magna/Sberbank will purchase a 55 percent stake in New Opel; GM will hold a 35 percent stake and employees will be provided a 10 percent stake.
“The hard work over the past two weeks to clarify open issues and resolve details in the German financial package brought GM and its Board of Directors to recommend Magna/Sberbank,” said Fritz Henderson, GM President and CEO. “We thank all parties involved in the intensive process of the last few months — especially the German government — for their continued support that enables this new venture. I’d also like to thank the Opel and Vauxhall customers for their continued loyalty. GM will continue to closely collaborate with Opel and Vauxhall to develop and produce more great cars, such as the new Insignia and the new Astra,” Henderson added.
The agreement will keep Opel/Vauxhall a fully integrated part of GM’s global product development organization, allowing all parties to benefit from the exchange of technology and engineering resources. The new ownership structure constitutes a new lean, efficient and independent organization for the Opel and Vauxhall brands. The current portfolio of Opel/Vauxhall cars and the models in the pipeline are a strong basis for future success.
Participating in GM’s global technology development and purchasing organizations secures important economies of scale for Opel/Vauxhall and other GM brands. For example, vehicles that represent new propulsion technologies, such as the Ampera extended-range electric vehicle, can only be brought to market in a joint effort.
“GM operates many joint ventures around the world and has proven in the past that this business model delivers the right balance of independence, innovation and synergies,” said John Smith, GM Group Vice President Business Development. “All parties will work hard to close the deal as soon as possible,” he added.
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