Tag Archives: billion

Ally provides $2 billion in financing to Carvana

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by dave_7 Ally Financial is tripling its bet on one of the auto industry’s disrupters by committing $ 2 billion to finance retail contracts for online used-vehicle retailer Carvana over the next year. … Automotive News Breaking News Feed

Denso to invest $1 billion in Tenn. to supply EVs, autonomous cars

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by GmanViz Denso is placing a $ 1 billion bet that the U.S. auto industry’s future is electric. The supplier will invest that much to expand its factory in Maryville, Tenn. … Automotive News Breaking News Feed

Volvo adds XC90 to first U.S. plant, will boost investment to $1.1 billion

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by Frankenspotter Photography Volvo Cars will double down its bet on its upcoming U.S. factory by adding production of its next-generation XC90 crossover and boosting investment to a total of $ 1.1 billion. … Automotive News Breaking News Feed

Icahn, Federal-Mogul trying to sell Fel-Pro for $1.5 billion, report says

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by Dave Adams Automotive Images Carl Icahn’s Federal-Mogul is considering a sale of its Fel-Pro engine parts business, seeking about $ 1.5 billion if it pursues a deal, people familiar with the matter told Bloomberg. … Automotive News Breaking News Feed

BMW targets $2.4 billion cut to parts outlays in EV push

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by denaldo BMW aims to slash roughly $ 2.4 billion in annual purchases by squeezing costs for transmission components and other parts to help finance a shift to EVs. … Automotive News Breaking News Feed

Bond investors give Tesla a $1.8 billion endorsement

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by Adam Taves Tesla raised $ 1.8 billion in its debut bond sale, boosting the amount by $ 300 million to meet demand. … Automotive News Breaking News Feed