NEWS

For our visitors who seek the latest industry news and updates to keep abreast with the goings-on of the business on a global scale, Plant Automation Technology portal grants a dynamic and diverse feed of news items.

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General Motors Co (GM.N) shares rose about 4 percent on Thursday after the automaker reported adjusted net income that more than doubled in the second quarter, driven by North American truck sales and continued strength in China. Chief Financial Officer Chuck Stevens Thursday reaffirmed the company's forecast that operating profit…

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Mitsubishi Motors Corp, faced with declining demand in the United States and an expiring union contract at its only plant in North America, is considering ending U.S. auto production, two people familiar with the matter said. The Nikkei business daily, which first reported the plan on Friday, said the proposed…

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Nearly two decades after setting foot in India, Korean car major Hyundai has decided to pump in fresh investment of over Rs 4,500 crore for a new factory to boost its production capacity to over a million vehicles. Hyundai has been facing a capacity crunch at its existing facility near…

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Italian luxury sportscar maker Ferrari NV filed with U.S. regulators for an initial public offering of its common stock. The company is being spun off from Fiat Chrysler Automobiles NV . UBS Investment Bank, BofA Merrill Lynch and Santander are underwriting the IPO, the company said in a filing with…

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Volkswagen is in advanced talks to sell its 50 percent stake in financing arm LeasePlan as the carmaker cuts costs and refocuses its business, and a decision may be announced this week, people familiar with the matter said. The Wolfsburg-based carmaker owns VW Leasing GmbH, its own in-house leasing business,…

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American auto manufacturer Ford has issued a safety compliance recall for approximately 8,000 vehicles in North America, for an issue with the parking brake. Affected vehicles include certain 2015-2016 Ford Explorer, 2015 Taurus and Flex, as well as Lincoln MKS and MKT vehicles. Ford is not aware of any accidents…

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Tata Motors Ltd, India's biggest automaker by revenue, plans to triple exports of its trucks and buses to countries in Asia and beyond to counter slow sales growth in India, it said on Wednesday. Despite Prime Minister Narendra Modi launching a range of economic reforms, industrial growth in India remains…

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Groclin SA receives letter of intent for production of car seat parts signed with Volkswagen AG. Delivery estimated value is 60 million euros ($65.7 million). Cooperation is scheduled for a period of 6 years.   reuters.com

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Toyota Motor Corp will likely delay building its premium Lexus brand in China for at least a few years, as growth in China's auto market slows to a crawl and a weak yen makes it cheaper to keep making cars in Japan. Toyota wants to focus on strengthening the Lexus…

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Germany's premium car makers are close to a deal to buy Nokia's HERE map business for between 2.5 billion and 3 billion euros ($2.74 billion to $3.29 billion), but a final agreement hinges on the question of who owns the patents which help self-driving cars talk to mobile networks, two…