The supervisory board of the Tognum, the engine manufacturer is now in the hands of Rolls Royce and Daimler. The two company hold the 98.8% of shares of the company, therefore they now have the power to control the motor manufacturer, with the main person in charge, Andreas Renschler, the head of commercial vehicle division of Daimler. Meanwhile other members of the board are John Paterson, Michael Haidinger and Andrew Heath from Rolls Royce and Stefan Buchner, from Daimler.
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Daimler and Rolls Royce bought additional shares with a total of .83% from Tognum, taking over 95% of the company. The joint venture, otherwise called as Engine Holding GmbH, reached the the percentage of shares from Tognum which is really considered a milestone. Other than that, the acquisition of Tognum will make Daimler and Rolls Royce the leading provider of complete systems for industrial engines. This step is expected to give the venture a global position in terms of products, solutions and services.
German automotive manufacturer Daimler has joined forces with supplier of innovative automobile components, Robert Bosch GmbH, in a joint venture called EM-motive GmbH. This joint venture will be responsible for the development as well as the production of electric motors to be used in European all-electric vehicles. The companies have already confirmed that the agreement has been officially signed after working on negotiations for three months. Production is said to be scheduled for 2012, and the venture will be based in Hildesheim, where the production facilities will also be located. Engineering, on the other hand, will most likely be located in Stuttgart, close to the home of Daimler and Bosch…. Continue Reading »
Almost twelve months have passed since Daimler AG signed a joint partnership deal with Chinese car manufacturer BYD. The companies aimed to create an electric car tailored especially for the market in China. It wasn’t too long before the partnership was announced to the public. Now, news has been spread straight from very first board meeting of the Shenzhen BYD Daimler Technology Company Limited joints venture. It seems that project’s research phase is finally, if not yet over, with the still unnamed electric vehicle now being pushed into prototyping phase. To further facilitate the project, both Daimler AG and BYD have sent teams composed of their top engineers, designers, quality… Continue Reading »
A lot of people in the automotive industry considered this partnership as being the deal of the century. Tognum’s supposed takeover by German automotive manufacturing giant Daimler AG in partnership with Rolls Royce was derailed by an unexpected message from the fellow German company over the weekend. Daimler shares that the duo is planning to extend almost 24 euro for each share of Tognum’s stocks, an amount that is actually already 30 percent higher than Tognum’s closing price in XETRA on March 4, exactly one day before they publicly announced the planned takeover. Tognum’s response, however, was a surprise for everyone involved in the partnership. Management says that the amount… Continue Reading »
Although being in the top levels of luxury car manufacturing is an exclusive and status-laden domain, it is not always as lucrative as the mother companies would like it to be. Daimler itself experienced this with its underperforming Maybach division, which it hoped to tap in battling Bentley and Rolls-Royce, whose ownership is in the hands of rivals Volkswagen and BMW. It has already been reported here that Aston and Daimler were in discussions on the possibilities of a tie-up, specifically tapping into Aston-Martin’s experience in small production runs. Now, there seems to be a confirmation of such a cooperative venture, where Daimler would entrust the production of the next-generation… Continue Reading »