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.
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.
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.
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.
September 13, 2006 |
German automaker BMW said Tuesday that it would begin distributing the world's first hydrogen-burning cars to selected users in the U.S. and Europe next year. The cars are 7-Series sedans powered by 12-cylinder internal-combustion engines capable of burning gasoline or liquefied hydrogen.
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.
May 29, 1994 |
When Allison Ballenger forgets to take off her BMW name tag after work, strangers often stop her and offer congratulations for landing one of South Carolina's most coveted manufacturing jobs. "Everybody in the area wants a job at BMW. I mean everybody," says the 29-year-old woman, who left a cable-making company to try her hand at building cars. With four months left before the German auto maker opens its first U.S.