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FILE PHOTO: The logo of Volkswagen is seen in front of its plant, in...

Cummins makes offer for VW's large engines unit: sources

United States-based diesel engines maker Cummins has made an indicative offer for Volkswagen's MAN Energy Solutions unit, people close to the matter said, as the carmaker seeks to slim down its portfolio of disparate assets.

FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International...

Toyota, China's BYD team up to develop battery EVs

Toyota Motor said it would develop battery electric vehicles (EVs) and batteries with BYD Co Ltd, in a sign it was ramping up partnerships with Chinese players as planned to build affordable EVs for the world's top auto market.

FILE PHOTO: Oliver Zipse, board member of German luxury carmaker BMW...

BMW promotes Oliver Zipse to CEO

German luxury carmaker BMW on Thursday named 55-year-old Oliver Zipse as its new chief executive, continuing a tradition of promoting a manufacturing expert to the top job.

FILE PHOTO: A long exposure picture shows cars of Swedish automobile...

Volvo Cars to cut costs as trade war dents profits

Volvo plans to cut fixed costs by 2 billion Swedish crowns ($214 million), it said on Thursday, becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability.

FILE PHOTO: Businessmen gather against, what they say is a harsh federal...

Pakistan price squeeze hits middle class as well as poor

Prime Minister Imran Khan's government faces mounting pressure as rising prices and tough austerity policies under Pakistan's latest bailout from the International Monetary Fund are squeezing the middle class that helped carry it to power.

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