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Avis Budget group to acquire car-sharing company Zipcar in cash deal for approximately $500 million

Green Car Congress

Rental car company Avis Budget Group, Inc. Nelson, Avis Budget Group chairman and CEO. In particular, Avis Budget expects significant cost reductions across the fleet life cycle (from procurement to operations and maintenance to disposition, as well as financing), in addition to savings from eliminating Zipcar’s public-company costs.

Companies 218
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Continental extends term of Nikolai Setzer as CEO, appoints new board member for automotive group sector – ET Auto

Baua Electric

In another resolution, Philipp von Hirschheydt (48) was appointed new Executive Board member for the Automotive group sector effective May 1, 2023. As planned, Setzer will thus hand over his additional responsibility for the Automotive group sector in order to concentrate on his duties as CEO.

Auto 40
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Group of 285 global investors with more than $20T in assets under management calls for urgent action on investment-grade climate change and energy policies; guidelines for governments

Green Car Congress

Saying that “ investment-grade climate change and clean energy policy is required to shift private sector investment from high-carbon to low-carbon assets ”, a group of 285 investors has urged governments and international policy makers to take new and meaningful steps in the fight against climate change.

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Daimler takes 12% stake in Chinese parter BAIC Motor; first non-Chinese automotive company to acquire an interest in a Chinese OEM

Green Car Congress

Daimler AG is taking a major step forward in its China strategy with the closing of the company’s 12% investment in long-standing partner BAIC Motor, the passenger car unit of Beijing Automotive Group (BAIC Group), one of the top automotive companies in China. As one of China’s largest automakers, BAIC Group sold more than 1.7

Chinese 259
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BMW i Ventures makes strategic investment in RideCell; software for mobility as a service

Green Car Congress

New York-based BMW i Ventures, a corporate venture capital team founded by BMW Group in 2011, provides equity financing to high-potential start-ups and high-growth companies dedicated to shape the future of global mobility. —Ulrich Quay, Head of BMW i Ventures.

BMW 150
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A123 Systems in non-binding MoU with Wanxiang for strategic investment of up to $450M; Wanxiang would own up to 80% of A123 common stock

Green Car Congress

A123 Systems, a developer and manufacturer of advanced lithium-iron phosphate batteries and systems, signed a non-binding memorandum of understanding (MOU) with Wanxiang Group Corporation establishing the framework for a strategic investment through which Wanxiang would invest up to $450 million in A123.

2012 273
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Daimler to take 12% stake in BAIC Motor

Green Car Congress

According to a new binding agreement, Daimler AG will invest in BAIC Motor, the passenger car unit of BAIC Group. As one of China’s largest automakers, BAIC Group sold more than 1.5 million vehicles in 2011. BFDA), Fujian Benz Automotive Corporation (FBAC) and Shenzhen BYD Daimler New Technology Co.

Motor 247