Schaeffler to Acquire Engineering Services Firm
Schaeffler AG will boost its stake in German engineering services provider IFT Ingenieurgesellschaft Triebwerkstechnik mbH to 100% from 49% by mid-year.
Schaeffler says it will make IFT a wholly owned subsidiary on July 1 and plans eventually to integrate it into Schaeffler Engineering. The German maker of precision bearings has owned a stake in IFT since 2001.
Chinese electric-car startup Nio Inc. is forming a manufacturing joint venture with Beijing E-Town International Investment and Development Co., which is investing 10 billion yuan ($1.5 billion) in the business.
Dan Nicholson is vice president of General Motors Global Propulsion Systems, the organization that had been “GM Powertrain” for 24 years.
The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).