July 4, 2001 |
The auto industry is engaged in a hydrogen war whose stakes are nothing less than supremacy in marketing the fuel that makes possible a zero-emission automotive power source that eliminates pollution--and pumps huge profits into corporate coffers. First, though, someone has to develop an affordable, consumer-friendly system that, unlike the personal computer industry's competing Microsoft and Macintosh operating systems, is standardized for universal use.
May 10, 2000 |
Germany's BMW agreed to sell the ailing Rover car group to a British consortium that mounted a dramatic, come-from-behind effort to take over the business and save thousands of jobs. The Phoenix consortium, headed by former Rover Chief Executive John Towers, said contracts had been signed in London after several days of negotiations. BMW said the "symbolic purchase price" was $16.
April 2, 2000 |
Thousands of people filled the streets of this city in central England on Saturday to protest German auto giant BMW's decision to break up its loss-making Rover Group Ltd. The rally, part of a public campaign to save the 8,000 jobs at Rover's main Longbridge plant here, drew a crowd of about 40,000. Union leaders and lawmakers began gathering early, while crowds of supporters filled the sidewalks. They waved banners and placards reading "Betrayed," "No Surrender" and "Save Rover. Save Us."
March 17, 2000 |
Ford Motor Co. will announce today that it has agreed to buy the prestigious Land Rover sport-utility unit from Germany's BMW Group for $2.8 billion and plans to relocate the division's North American headquarters to Orange County. The deal is a further nod to Southern California's fast-emerging reputation as a hub for luxury automobile makers and gives Ford another coveted nameplate to add to its portfolio of world-recognized luxury brands, consisting of Lincoln, Jaguar, Volvo and Aston Martin.
February 15, 1999 |
German car maker BMW's cost-cutting drive at its loss-making Rover subsidiary will result in the loss of at least 5,000 jobs in the British automotive parts industry, the Independent newspaper in London reported. The newspaper said the figure was based on an estimate by a leading supplier. A spokesman for Rover said: "We have announced no [new] job cuts." An existing program of 2,500 voluntary cuts is close to being completed.
February 14, 1999 |
General Motors will make an offer to buy Bavarian car company BMW in the next few days, a German newspaper reported Saturday. Rumors about BMW's future have been swirling since its chairman, Bernd Pischetsrieder, was dismissed Feb. 5 amid criticism of his handling of BMW's British subsidiary, Rover. BMW spokesman Joerg Dinner denied the report Saturday in the German newspaper Die Welt.