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French carmaker PSA plans to sign a $50 billion merger deal with Fiat Chrysler Automobiles (FCA) this year, a source with direct knowledge of PSA's thinking said on Friday, brushing off concerns over a shock lawsuit filed this week. FCA has already said the lawsuit brought against Fiat by General Motors Co on Wednesday was "meritless". The source, who spoke on condition of anonymity, said Peugeot-manufacturer PSA remained focused on the merger talks, and intended to sign a memorandum of understanding on the deal this December, as scheduled.
Tesla’s futuristic pick-up truck has given investors reassurance the electric carmaker won’t encroach on Detroit’s territory. General Motors and Ford, whose trucks generate a large portion of their profits, will maintain their hold over the US truck market.
Analysts expect the Tesla pickup, which Musk has said would combine the performance of a Porsche 911 sports car with the functionality of Ford Motor Co's industry-leading F-150 full-size truck, to debut in late 2021 or early 2022 with a starting price of under $50,000. "Making an electric pickup truck that sells in the same price range as an F-150 and making it profitable will be tough," said Sam Fiorani, vice president of global vehicle forecasting at Auto Forecast Solutions. As Musk pushes to take a bite of Detroit's profits, Ford and larger rival General Motors Co are gearing up to challenge Tesla more directly with new offerings like the Ford Mustang Mach E electric SUV as well as electric pickups.
General Motors Co's first electric pickup truck model will go on sale in the fall of 2021, the company's top executive said, around the same time that electric carmaker Tesla Inc's own model is expected to debut. "General Motors understands truck buyers and ... people who are new coming into the truck market," Chief Executive Officer Mary Barra said at an investor conference in New York on Thursday. The No. 1 U.S. automaker has so far given few details on its planned line of electric pickup trucks.
Qualcomm (QCOM) is trying to retain its leadership in 5G, chipset market and mobile connectivity with several technological achievements.
Verizon and its U.S. rivals have embarked on an aggressive marketing push to get more customers to use their 5G networks, a technology that can offer 20-times faster data speeds than 4G long-term evolution (LTE) networks.
General Motors (GM) files racketeering lawsuit against Fiat Chrysler for corrupting the bargaining process, which has been causing significant damages to the former.
Available at a list price of $379, Ubiquiti's (UI) AmpliFi Alien is a strong router with a single Gigabit Internet interface and internal power supply.
to the House impeachment inquiry on Wednesday, in a pivotal moment in Democratic efforts to impeach the US president. Mr Sondland, a hotelier who donated $1m to Donald Trump’s inauguration committee, became the first member of the president’s inner circle to acknowledge publicly a “quid pro quo” over the administration’s Ukraine policy.
While Volkswagen (VWAGY) plans to rev up spending on EVs in the coming years, its rival Daimler (DDAIF) intends to limit capital outlay to revive profit margins.
TURIN/PARIS (Reuters) - Fiat Chrysler Automobiles NV on Thursday brushed off a shock lawsuit from General Motors Co and said it was confident of reaching a binding merger deal with Peugeot owner PSA Group by the end of this year to create the world's fourth-largest carmaker. GM filed the lawsuit in the United States on Wednesday, alleging FCA had bribed United Auto Workers (UAW) union officials over years to corrupt the bargaining process and gain advantages, costing GM billions of dollars.
General Motors Co on Wednesday filed a racketeering lawsuit against Fiat Chrysler Automobiles NV , alleging that its rival bribed United Auto Workers (UAW) union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars. GM also alleged that Fiat Chrysler's former chief executive, the late Sergio Marchionne, was central in the scheme. The No. 1 U.S. automaker said it will seek "substantial damages" from FCA that it said would be reinvested in the United States to create jobs, but did not specify an exact amount.
General Motors filed a racketeering lawsuit Wednesday against Fiat Chrysler. GM accused its smaller rival of making bribes over many years to corrupt the bargaining process with the United Auto Workers. GM said it will seek "substantial damages" as part of the remedy. Although it did not specify an amount, it said the bribes cost it billions of dollars. In the lawsuit, America's biggest automaker accused Fiat Chrysler, under the leadership of now deceased CEO Sergio Marchionne, of bribing UAW officials into allowing it to pay lower wages than GM, use more temporary workers than GM and employ more lower-paid second-tier workers than GM. Fiat Chrysler said in a statement it is "astonished by this filing, both its content and its timing" and said it assumes the lawsuit was intended to disrupt the labor negotiations tied to merger talks between it and Peugeot owner PSA. Union officials from the UAW fired back in a separate statement, saying the fact these issues can cause doubts about the contract is "regrettable" and it stands by the terms previously negotiated with Fiat Chrysler. The UAW has been the focus of a spreading federal corruption probe that recently forced its president to seek a leave of absence. The lawsuit comes at a precarious time for Fiat Chrysler, not only is it in aforementioned merger talks - it is also in the midst of negotiating a four-year contract with the UAW. GM said the lawsuit has nothing to do with the merger or the union and is solely focused on Fiat Chrysler.