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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Volkswagen has agreed steps to improve oversight of engine-software development to avoid future manipulations after its admission of cheating US diesel-emissions tests caused the biggest scandal in the German carmaker's corporate history. "No business justifies crossing legal and ethical boundaries," Chairman Hans Dieter Poetsch told a news conference at the…

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General Motors Co's (GM.N) independent fund set up to compensate victims of accidents involving faulty ignition switches awarded $594.5 million and approved 399 death and injury claims, the fund said on Thursday. GM's costs related to the ignition switch defects now top $2 billion, including a $900 million settlement with…

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Samsung Electronics said Wednesday it will set up a team to develop an auto components business focusing on autonomous driving technology and entertainment systems. Kwon Oh-hyun, a vice chairman who has long managed Samsung's electronics component business, will oversee the new team. The announcement comes as Samsung is under pressure…

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Fiat Chrysler Automobiles NV has agreed to pay $70 million in fines to resolve a U.S. investigation that it failed to disclose vehicle crash death and injury reports, people familiar with the matter told Reuters on Wednesday. The settlement is expected to be announced by the National Highway Traffic Safety…

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Volkswagen has announced new heads of development and procurement at its core autos brand as it aims to recover from the diesel emissions scandal. Frank Welsch, top engineer at Czech carmaker Skoda, will become head of technical development at the VW brand, while Ralf Brandstaetter, a 22-year VW group veteran,…

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General Electric Co will sell a 43 percent stake in unlisted Hyundai Capital to Hyundai Motor Group and Taiwan's Fubon Group for up to 1.4 trillion won ($1.19 billion), the Korea Economic Daily reported on Wednesday, citing unnamed sources. A unit of GE Capital International Holdings Corp, part of GE,…

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An automotive supply company with plants around the world will invest $44 million in a new manufacturing facility in Fountain Inn. Tower International, which has its headquarters in Livonia, Michigan, will move into a 206,000 square foot speculative building in the Southchase Industrial Park. The new plant should create 130…

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Luxury car maker Jaguar Land Rover and the Slovak government will sign an agreement this week on a production plant in Slovakia, three Slovak government sources said on Tuesday. JLR, owned by India's Tata Motors, has chosen the Slovak city of Nitra as the site of a planned factory that…

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Luxury British carmaker Aston Martin, due to decide in the next few weeks where it will build a new plant, is choosing from four sites in Britain, the United States and the Middle East, a source familiar with the firm's thinking told Reuters. The loss-making company is planning a major…

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JP Morgan Asset Management Company has managed to sell the debt papers of Amtek Auto to a private equity firm at a 15 per cent loss, according to sources. Following the move, JPMorgan allowed investors to make redemptions. The fund house had de-merged the Amtek Auto exposure into a ‘segregated…