LeasePlan Corporation N.V., known for its Car-as-a-Service concept, and SAIC Mobility Europe, a division of China’s largest vehicle manufacturer, have signed a Memorandum of Understanding to bring the first large full electric Light Commercial Vehicle (LCV) to continental Europe. Tyres & Accessories understands that tyres and maintenance are included in the deal.
Final bids to acquire a 42.01 per cent shareholding in Kumho Tire are in, and Credit Cuisse, who has managed the deal, has requested additional time in order to review the bidders’ documents. Pulse, Maeil Business Newspaper’s English-language website, posits that the preferred bidder will be picked between 16 and 18 January, and the terms then sent to Kumho Asiana chairman Park Sam-koo.
A final round of bids for the 42.01 per cent controlling stake in Kumho Tire will be held on 12 January, and according to the Korea Development Bank and other creditors, a shortlist of five preferred bidders are in the running to acquire this share should chairman Park Sam-koo decline a prior offer to match the highest bid and purchase the 42.01 per cent stake himself. The five contenders are Apollo Tyres, Shanghai Aerospace Industry Corp. (SAIC), Jiangsu GPRO Group, Shandong Linglong Tire and Doublestar Tyre.
The Shanghai Aerospace Industry Co., or SAIC, is said to have submitted the highest bid for Kumho Tire in the preliminary auction. According to Maeil Business News Korea’s Pulse website, the value of the SAIC bid hasn’t been disclosed, however “market experts” recently estimated that bidding for Kumho Tire could reach as high as KRW 1 trillion (£685.8 million).
Just 18 months before the introduction of eCall (mandatory in-car emergency call system for all new type approval vehicles sold within the European Union), MG Motor UK has confirmed its involvement as part of the CEN TC278/WG15 intelligent transport systems working group.
Through Guillaume Honore – Telematics Engineer at the SAIC Motor Technical Centre (SMTC), which is based at MG’s Longbridge site in Birmingham – MG will play a key role in the ongoing development of eCall.
MG Motor UK, has accepted seven new students onto its Automotive Engineering Internship programme for 2016/17. Open to all undergraduates taking relevant degrees within the engineering field, the initiative demonstrates the carmaker’s ongoing commitment to developing young talent.