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Recall is last linked to fire hazard, Ford says
Wed, 14 Oct 2009Ford Motor Co.'s new recall of vehicles that pose potential fire hazards will be its last because the latest action covers all remaining cars and trucks with cruise-control switches made by Texas Instruments, even if those switches don't pose safety risks, a Ford spokesman said today. "We did this to reassure customers and make sure there will be no future actions connected to this," spokesman Wes Sherwood said in an interview. "We've gone to extra lengths to include both vehicles with risks and those that don't show risk." Yesterday, Ford announced a recall of 4.5 million vehicles--its eighth in the past decade involving cars and trucks with faulty cruise-control deactivation switches.
Ford agrees to sell Aston Martin
Wed, 14 Mar 2007Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.
Nissan to open new studio in Beijing
Mon, 15 Mar 2010After last week's announcement of leadership changes at Nissan's North American and European design centers, Nissan Investment Co., Ltd (NCIC), a Nissan subsidiary in China, today revealed plans to expand its global design resources with the establishment of a new design studio in Beijing. "With the addition of 20 designers, Nissan's new studio will enhance our design capabilities, as well as our product competitiveness in China and Asia where the automotive industry continues to see robust growth," said Shiro Nakamura, chief creative officer and senior vice president of design and brand. "Locating the studio where our customers live and work allows us to best respond to their needs and design vehicles that exceed their expectations." Scheduled to open early in 2011, the studio in the Chao Yang district of Beijing will be the first design facility in China established by a Japanese automaker.