Uber to sell its leasing business

27 Dec
Prototype from Uber’s fully autonomous ride-sharing fleetUber is ready to sell off its two-year-old Xchange leasing program, according to multiple reports. Earlier in 2017, Uber announced it was planning on ending the program due to heavy losses. While the company had previously estimated losses averaging nearly $500 per car, new revelations place that figure closer to $9,000. On every car. Leasing...

Troubled Japanese airbag-maker Takata purchased by supplier Key Safety Systems

22 Nov
25 years of the airbagKey Safety Systems, a Michigan-based supplier of safety components for manufacturers, has agreed to purchase maligned Japanese airbag manufacturer Takata for $1.6 billion, The Associated Press reported Tuesday. Takata’s ongoing airbag recall scandal forced the company into bankruptcy earlier this year. Tens of millions of vehicles were...

Flying car-maker Terrafugia bought by Geely

14 Nov
Terrafugia Flying CarChinese automaker Geely has been given the all-clear to purchase would-be flying-car manufacturer Terrafugia, ending months of scrutiny after the acquisition was first reported last summer. While most carmakers—including Geely-owned Volvo—are developing self-driving car technologies in a bid to turn science-fiction fantasy into...

Would the U.S. really let Fiat Chrysler sell Jeep to Great Wall?

28 Aug
Jeep Yuntu concept, 2017 Shanghai auto show    [photo: Ronan Glon]A week ago, we learned that Chinese automaker Great Wall is very, very interested in purchasing Jeep from Fiat Chrysler Automobiles. If Great Wall were to make a formal offer, there are perfectly good reasons that FCA might accept it (e.g. moolah) or reject it (e.g. more moolah from another company, image problems). But there's another issue to...

Fiat Chrysler may have found a buyer in China, but who?

14 Aug
The Great Wall of ChinaFor nearly three years (and maybe longer), Fiat Chrysler CEO Sergio Marchionne has been looking for a pal, a partner to help him improve the FCA lineup and lay a strong foundation for the company's future. After being rebuffed and left-swiped by a handful of potential soulmates, he may have finally found a match--in China. As you might recall...