By Makiko Yamazaki TOKYO (Reuters) – Japan's Panasonic Corp is in talks to buy European automotive light maker ZKW Group, accelerating its push into the automotive electronics market, a person familiar with the matter said. An acquisition of ZKW would expand Panasonic's automotive lineup, which currently centers on batteries and navigation systems, as it shifts its focus to corporate clients to escape price competition from lower-margin consumer electronics manufacturers. Panasonic said in a statement the reported deal was not something it had announced, and declined to comment further.
Japan's Panasonic Corp is in the final stages of talks to buy European automotive light maker ZKW Group for up to $1 billion, accelerating its push into the automotive electronics market, the Nikkei business daily reported Monday. Privately held ZKW supplies light-emitting diode headlights and lighting modules to U.S. and European automakers such as General Motors Co and BMW . Panasonic said in a statement the reported deal was not something it had announced, adding it does not comment on individual deals.
By Paola Totaro LONDON (Thomson Reuters Foundation) – Two multi-national tech companies previously questioned over labor and workforce conditions won a new global award on Wednesday for turning the spotlight onto their own supply chains to eradicate modern day slavery from their operations. The inaugural Thomson Reuters Foundation Stop Slavery Award was conferred on U.S. technology company Hewlett Packard Enterprise and NXP Semiconductors, the world's largest chip supplier to the automotive industry. The award, designed by Turner Prize winning sculptor Anish Kapoor, aims to recognize businesses that submit their labor practices to scrutiny and excel in efforts to investigate human rights abuses and clean up their supply chain.
Auto parts maker Delphi Automotive Plc and Israeli technology firm Mobileye NV will put an Intel Corp chip at the heart of their joint effort to produce self-driving vehicles by 2019, the companies said on Tuesday. The move is a boost for the world's largest semiconductor maker, which is also working with German luxury car maker BMW AG and Mobileye on self-driving technology, but has not been able to extend its broader chip dominance into the fast-emerging autonomous vehicle market. Companies from Alphabet Inc's Google to Uber Technologies Inc [UBER.UL] and Tesla Motors Inc are vying to put autonomous vehicles on U.S. roads, which could radically reshape transportation across the country.
Britain's biggest carmarker Jaguar Land Rover said it wants to build electric cars in Britain in what would be a further boost to the UK automotive sector after the Brexit vote. The Indian-owned carmaker built just under a third of Britain's 1.6 million cars last year and showcased its first electric car earlier this month, which will be built in Austria.
U.S. auto sales in November will be up 5 percent from a year earlier, making it possible that 2016 will top last year's record high, industry consultants J.D. Power and LMC Automotive said on Wednesday. Autodata Corp, another industry consultant, says November 2015 annualized sales were at a rate of 18.25 million, which would suggest a steeper decline this month than J.D. Power and LMC forecast. Jeff Schuster, lead forecaster for LMC Automotive, said the U.S. auto sales forecast in 2016 remains at 17.4 million vehicles, but with a bias toward the upside.
By Harro Ten Wolde FRANKFURT (Reuters) – German chipmaker Infineon raised its medium-term profitability target on Wednesday, banking on strong growth in its automotive business as carmakers invest heavily on electric and self-driving vehicles. The increased operating margin target outweighed a cautious annual revenue forecast and Infineon shares traded 1.6 percent higher at 16.69 euros by 1100 GMT (6 a.m. ET), having gained more than 20 percent this year. Car makers including Volkswagen are rushing to develop electric and self-driving cars, pushed by tougher anti-pollution rules and the emergence of new competitors from the technology sector such Alphabet's Google.