NEWS

For our visitors who seek the latest industry news and updates to keep up with the goings-on of the business on a global scale, this portal grants a dynamic and diverse feed of news items contemporaneous with the current affairs of the Automotive Industry.

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Magna International Inc. announced that it has signed a purchase agreement to acquire the BÖCO Group of Companies, an automotive supplier of latches, hinges and strikers, to help bolster its product portfolio and engineering capabilities in key regions. Subject to regulatory approval, the transaction is expected to close in the…

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Takata Corp's interiors subsidiary, Irvin Automotive, will be purchased by the Piston Group, a Detroit auto parts maker that is headed by former National Basketball Association player Vinnie Johnson, a source familiar with the matter said on Tuesday.The deal is expected to close later this week, the source said, at…

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Magna International Inc. will increase its capacity to make automotive latches, hinges and other closure components through the purchase of the BOCO Group of Companies, in a transaction announced Monday. The Ontario-based auto parts company didn’t disclose the purchase price but said BOCO has annual sales of more than $148…

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Tesla Motors Co (TSLA.O) and a U.S. subsidiary of Swiss auto supplier Hoerbiger have agreed to settle a lawsuit filed by the electric car maker over problems with a proposed hydraulics system for the luxury Model X's "falcon wing" doors, court records show. Both parties have until Oct. 13 to…

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Hyundai Motor is going to unveil its latest high-performance N concept the RN30 at the 2016 Paris Motor Show on September 29, and has revealed first glimpse of the motorsport-inspired racing concept at its website. Based on the New Generation Hyundai i30, the RN30 was born as a racing machine,…

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Canada's Unifor union has ratified a deal with General Motors Co that will see C$554 million ($420.84 million) invested in local plants, the labor group said on Sunday as it prepares for related talks with Fiat Chrysler Automobiles NV. The deal was ratified after 64.7 percent of workers voted approve…

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Hyundai Motor's South Korean labor union staged its first full nationwide strike in 12 years on Monday over wages, putting the automaker's earnings and sales targets at risk. The full-day walkout came after a series of partial stoppages since July at the automaker's factories across South Korea, its biggest manufacturing…

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General Motors plans to invest $554 million in Canadian dollars over the next four years and pay workers a $6,000 signing bonus under a proposed new contract with Unifor ratified by union members Sunday. In total, members will receive $12,000 in bonus payments over the next four years along with…

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Tesla Motors Inc Thursday sued Michigan Governor Rick Snyder and other state officials in federal court over the state's refusal to allow the Palo Alto, California automaker to sell vehicles directly to consumers. The suit at U.S. District Court in Michigan comes days after the state rejected the electric vehicle…

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United Autosports have continued to expand their British Onroak Automotive business by delivering Ligier JS P3 sports prototypes to their British-based customers. Douglas Motorsport is the latest customer for the Leeds-based team, who purchased a P3 car after attending United Autopsorts’ September test at Snetterton, with their driver Mike Newbould.…