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China’s Great Wall Wants To Buy Jeep And Only Jeep. Good morning! Welcome to The Morning Shift, your roundup of the auto news you crave, all in one place every weekday morning. Here are the important stories you need to know. Gear: Chinese Automaker Great Wall Motor Company Wants To Buy Jeep. For the past week or so, we’ve been hearing rumors of Chinese automakers talking with Fiat Chrysler about a potential merger.
The initial report from Automotive News quoted “a source,” who said Fiat Chrysler execs had flown to China to meet with the country’s Great Wall Motor Company. But—with sources also mentioning a number of other companies like Dongfeng, Zhejiang Geely and Guangzhou—it was still “unclear which Chinese automaker or automakers are pursuing FCA.”Now, both Automotive News and Reutershave confirmed that one of the companies interested in acquiring Fiat Chrysler is indeed Great Wall Motor Company, China’s biggest truck and SUV manufacturer. Good morning! Welcome to The Morning Shift, your roundup of the auto news you crave, all in one. We are interested in (FCA).” That’s about as straightforward as it’s going to get, though Automotive News also spoke with the Baoding- based company, and learned that the company’s real goal is to buy up the Jeep brand. The site communicated via email with Great Wall’s president Wang Fengying, who said his team wants to acquire Jeep, and that the company is “connecting with FCA” to start talks.
A spokesperson for the company sent a follow- up email, saying: We are deeply interested in the Jeep brand and have paid close attention to it for a long time.. Our strategic goal is to become the world’s largest SUV maker. Acquiring Jeep, a global SUV brand, would enable us to achieve our goal sooner and better. For its part, Fiat Chrysler told both news outlets that it had not been approached by the Chinese truck and SUV company.
Sergio Marchionne, CEO of Fiat Chrysler, has previously made statements indicating that he’d consider spinning off the SUV brand. Whether he’ll sell it to Great Wall—a company with a market value $4 billion lower than FCA’s, according to Reuters—we’ll have to wait and see. Good morning! Welcome to The Morning Shift, your roundup of the auto news you crave, all in one. Romantic Horror Movies Legend Of The Naga Pearls Movie (2017).
So in the grand scheme of things, selling off Jeep isn’t a novel concept. But for the brand to go to Great Wall seems a bit farfetched; if the Jeep brand is for sale, surely there are bigger and richer companies willing to buy up the cash- cow off- road marque. Gear: U. S. States Are On A Quest For Toyota/Mazda’s New Plant.
We learned recently that Toyota and Mazda are planning to partner up on a new $1. Such an enormous facility promises 4,0. As for which state will actually win the business, we still don’t know yet. The Detroit Free Press uses the term “national bidding war” in reference to the two automakers’ requests fo proposals from a number of different regions of the U. S., saying: The two Japanese automakers recently issued a blind request for proposals to states in the Midwest, mid- Atlantic and South, according to two people familiar with the plans who were not authorized to speak publicly because the process was confidential.
The news site went on, saying that, when submitting their early proposals, states were left in the dark about the exact details of the project: Told only that an unidentified employer was weighing its options for a massive project under the code name Project Mitt, state economic development officials delivered preliminary proposals, including potential tax incentives, job training programs and infrastructure investments. Among them: Alabama, Arkansas, Georgia, Indiana, Kentucky, Michigan, Mississippi, North Carolina, Ohio, South Carolina, and Tennessee. You can expect these states to bid fiercely for what would almost certainly be a huge economic boon. Gear: Cars Are Getting Too Efficient, So Self- Driving Taxes Could Be On The Way. As cars get more efficient, people buy less fuel, which means states make less money from gas taxes.
This is a problem for some states, so they’re finding other ways to make up for the lost income; taxing self- driving cars. The. Detroit News says Massachusetts has proposed legislation that would require a 2.
Tennessee has a similar tax in mind, having already approved a one cent- per- mile tax on self- driving cars and a 2. On a national level, the Eco Center for Transportation, a think tank in Washington, has also suggested a one cent- per- mile tax on automakers for autonomous cars, with the organization’s vice president saying the tax could bring in $3. He told The Detroit News: Self- driving cars tend to be very fuel- efficient, and a lot of automakers have talked about how they are going to be all- electric. That means they are imposing the same type of wear and tear on roadways without paying into the system. So even if we all save money at the pump, we’re going to pay the government somehow, because that’s how America works.
Still, it will take some time for self- driving cars to catch on, so these taxes aren’t likely to have a huge effect in the near term. Gear: A Fourth Person Has Been Charged In The Fiat Chrysler- UAW Scandal. Last month, the feds indicted former Fiat Chrysler executives for allegedly diverting millions of dollars from the National Training Center—the facility Fiat Chrysler uses to educate and train blue- collar workers—to the pockets of UAW officials.
Some of that money, as we learned in July from the indictment, had reportedly been diverted by Al Iacobelli (Fiat Chrysler’s former vice president of employee relations) to finance a Ferrari 4. Spider, fancy Mont Blanc pens, home improvement projects, credit card expenses, and private jet leases. The wife of a former United Auto Workers vice president and Fiat Chrysler’s former labor relations. Virdell, “the first black woman to head a local UAW- Chrysler union” according to the news site, allegedly used the training center’s credit card between 2.
Virdell is expected to plea guilty in the next few days. Gear: Volkswagen Won’t Be Selling The Farm. If you expect VW to sell off brands because of the Dieselgate scandal, don’t hold your breath. Thomas Sedran, VW’s head of group strategy, told Reutersthat the car company wasn’t in a rush to sell off any assets—a move that would go against the wishes of labor unions, especially in light of VW’s decent financial position right now.
He told the site in an interview that the company’s focus was on shifting towards electric vehicles and transport services, saying: It’s much more important to discuss which new business fields the company will enter. Divestments are less relevant..
Big decisions like how to expand or optimize the business portfolio of a global company need time and have to be developed by consensus. For Volkswagen, the topic of the business portfolio is very important but not time critical.
Though VW has looked into selling off its transmission maker Renk and its motorcycle brand Ducati, it looks like getting rid of those might not be as critical as the huge Dieselgate bill might make it seem. For a while, we’ve heard talks about Volkswagen selling Ducati, in part, to help pay for the. Olds Starts What Later Becomes Oldsmobile. On this day in History, Olds Motor Works founded on Aug 2. Download Movie The Belko Experiment (2017) Dvd. Learn more about what happened. Do you think the brand will have the same attraction to buyers if it’s owned by a Chinese company?
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