OEConnection LLC (OEC) and Genstar Capital announced they have finalized the deal for Genstar to acquire a majority stake in OEC from Providence Equity Partners that was announced in August. Current investors, Ford Motor Company and General Motors, will each retain their minority investments in the Company. Financial terms of the transaction were not disclosed. […]
Ford Sells Vehicle Subscription Service
Vehicle subscription app Fair announced that it will acquire the assets of Canvas, a vehicle subscription service and wholly owned subsidiary of Ford Motor Credit. The acquisition will enable the company to continue to accelerate consumer adoption and expansion throughout the U.S. Terms of the sale were not disclosed. Fair is an app-based vehicle subscription […]
Genstar Capital Acquires Majority Stake in OEConnection
OEConnection LLC (OEC) Providence Equity Partners L.L.C. and Genstar Capital, announced an agreement for Genstar to acquire a majority stake in OEC from funds advised by Providence. As part of the transaction, current investors Ford Motor Company and General Motors will each retain their minority investments in the Company. Financial terms of the transaction were […]
Federal Appeals Court Rules Against ABPA in Ford Collision Repair Part Design Patent Suit
Upholds lower court finding that Ford’s design patents for the F-150 are valid and enforceable. The United States Court of Appeals for the Federal Circuit on July 23 published its public opinion rejecting arguments by the Automotive Body Parts Association (ABPA) that design patents covering a hood and headlamp for the Ford F-150 are invalid. […]
Ford and Volkswagen Expand Autonomous and Electric Vehicle Collaboration
Ford Motor Company and Volkswagen AG today announced they are expanding their global alliance to include electric vehicles – and will collaborate with Argo AI to introduce autonomous vehicle technology in the U.S. and Europe. Volkswagen CEO Dr. Herbert Diess, Ford President and CEO Jim Hackett as well as Argo AI CEO Bryan Salesky announced […]
HLDI Reports Ford F-150 Repair Costs Remain Steady Despite Aluminum Parts
While repair costs have not increased due to aluminum, analysis shows longer time to repair vehicles and higher claim frequency. The Highway Loss Data Institute (HLDI) reports that Ford’s switch to aluminum for the body of the F-150 pickup hasn’t resulted in higher repair costs, in part because the company is pricing the aluminum parts […]
Spanesi Receives Global Collision Repair Equipment Approval from Ford
Spanesi Americas announced collision repair equipment and technology has earned Global Certification from the Ford Motor Company. In a letter dated April 2, Gerry Bonanni, Ford Customer Service Division (FCSD) Paint & Body Senior Technical Engineer at Ford Motor Company, wrote, “After our combined development and testing efforts at the Ford Paint and Body Technology […]
Ford and Rivian Announces $500 Million Investment, Partnership to Deliver All-New Battery Electric Vehicle
Rivian today announced an equity investment of $500 million from Ford Motor Company. In addition to the investment, the companies have agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio using Rivian’s skateboard platform. “This strategic partnership marks another key milestone in our drive to accelerate the […]
Volkswagen and Ford Motor Company Announce Global Alliance
Volkswagen AG and Ford Motor Company today announced a broad alliance that positions the companies to boost competitiveness and better serve customers in an era of rapid change in the industry. Volkswagen CEO Dr. Herbert Diess and Ford CEO Jim Hackett confirmed that the companies intend to develop commercial vans and medium-sized pickups for global […]
Ford Expands Takata Airbag Recall to Cover Nearly 1 Million Vehicles in North America
Also issues recall for setback weld on 2019 Ford EcoSport. Ford Motor Company announced two safety related recalls. The vehicle manufacturer is issuing a safety compliance recall and is expanding a safety recall for certain Takata airbag inflators in North America. As part of the fourth planned expansion of vehicles included in Takata inflator recalls […]
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