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World - GM recalls 2.2 million cars in China


BEIJING (AP) General Motors Co.`s main Chinese joint venture is recalling 2.2 million cars to deal with insufficient corrosion resistance on crankcase valves.


Friday, May 27, 2016  02:59

Yahoo

World - Top Asian News 1:48 a.m. GMT


BEIJING (AP) General Motors Co.`s main Chinese joint venture is recalling 2.2 million cars to deal with insufficient corrosion resistance on crankcase valves. The country`s product quality regulator says the recall was ordered after Shanghai-GM received complaints about engine damage. The automaker is a joint venture between GM and state-owned Shanghai Automotive Industries Corp. The recall applies to Buick Excelle sedans and Chevrolet Cruzes, Epicas and Aveos. The product quality agency said GM will replace affected valves for free.


Friday, May 27, 2016  02:59

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Business - Mitsubishi Motors restates earnings due to special loss from mileage scandal


Mitsubishi Motors Corp on Wednesday restated its financial results for the past business year to reflect a special loss of 19.1 billion yen ($173.73 million) related to its manipulation of fuel economy data. Japan`s sixth-largest automaker said net profit fell 39 percent to 72.6 billion yen in the year that ended in March. It had previously reported a net profit of 89 billion yen at the end of April.


Wednesday, May 25, 2016  07:36

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World - Jeonbuk, Shanghai SIPG into Asian Champions League quarters


JEONJU, South Korea (AP) Leonardo scored twice as 2006 winner Jeonbuk Motors secured the first spot in the Asian Champions League quarterfinals with a 2-1 win over Melbourne Victory, and Wu Lei`s stoppage-time winner against FC Tokyo helped Shanghai SIPG sneak into the last eight on the away goals rule.


Tuesday, May 24, 2016  15:22

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World - 2006 winner Jeonbuk into Asian Champions League quarters


JEONJU, South Korea (AP) Leonardo scored twice as 2006 winner Jeonbuk Motors secured the first spot in the Asian Champions League quarterfinals with a 2-1 win over Melbourne Victory for a 3-2 aggregate on Tuesday.


Tuesday, May 24, 2016  13:49

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Business - South Korea`s Mando in talks to supply parts for Tesla`s Model 3: source


Mando Corp is in talks with Tesla Motors to supply parts for its Model 3 car, a person with direct knowledge of the matter said, seeking to join other South Korean firms supplying components for Tesla`s more affordable electric cars. Mando, which makes steering, brake and suspension parts, currently supplies steering racks for Tesla`s Model S vehicles. A Tesla spokesperson was not immediately available for comment.


Tuesday, May 24, 2016  06:50

Yahoo

Business - GM SUV compensation program will cost about $100 million: source


General Motors Co said on Friday it would compensate 135,000 U.S. owners of new sport utility vehicles that had overstated the vehicles` fuel efficiency by giving them debit cards or extended warranties. GM said most of the debit cards would be worth $450 to $900 for owners of 2016 SUVs that overstated fuel efficiency by 1-2 miles per gallon. The largest U.S. automaker said the program would not have a material impact on its financial results, while a source told Reuters the program would cost GM around $100 million.


Friday, May 20, 2016  18:46

Yahoo

Business - Exclusive: Suppliers question Tesla`s goals for Model 3 output


By Paul Lienert and Alexandria Sage DETROIT/SAN FRANCISCO (Reuters) - Tesla Motors Inc has surprised parts makers with plans to move up the launch of high-volume production of its Model 3 to 2018, two years earlier than planned - an acceleration that supplier executives and industry consultants said would be difficult to achieve and potentially costly. In the past three months, Tesla has told suppliers the company was doubling its original production projections to 100,000 Model 3s in 2017 and 400,000 in 2018, several supplier industry executives familiar with the plans told Reuters. Details on Model 3 production projections have not been reported previously, and Tesla did not break out target volumes for the Model 3.


Friday, May 20, 2016  06:09

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Business - Tesla raises $1.46 billion in stock sale: IFR


Tesla Motors Inc has raised $1.46 billion in fresh capital from the sale of its 6.8 million new common stock offering, according to IFR. Tesla seeks to finance a plan to expand production of its electric vehicles to 500,000 a year by 2018. The shares were priced at $215 by lead managers Morgan Stanley , Goldman Sachs Group Inc , Deutsche Bank AG , Citigroup Inc and Bank of America Merrill Lynch, IFR said.


Friday, May 20, 2016  05:02

Yahoo

Business - Automakers recall 12 million U.S. vehicles over Takata air bags


Eight automakers said on Friday they are recalling more than 12 million vehicles in new recalls related to defective Takata air bags, according to documents posted by U.S. government regulators. Honda Motor Co is calling back 4.5 million U.S. vehicles, while Fiat Chrysler Automobiles NV is recalling 4.3 million, the documents show. The recalls come after Japan`s Takata earlier this month agreed to declare up to 40 million additional inflators defective by 2019, a move that will prompt 17 automakers to issue vehicle recalls.


Friday, May 27, 2016  10:55

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