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AA wheels out long-awaited shake-up for the 21st century – The AA will today offer investors details about plans to reinvigorate the business weeks after completing a near-£1bn refinancing. A new management team that carried out a buy-in last summer plans to bring the roadside assistance company into the 21st century by unveiling connected car technologies aimed at younger drivers and better monetising online services, such as AA Route Planner.
Aston in US talks over first overseas factory – Aston Martin has held talks with several US states about building its first overseas factory as part of plans to bring an ambitious electric 4×4 to market, writes Andy Sharman. The lossmaking British heritage brand is also looking at UK sites for the new DBX, including once-great carmaking centres such as the former Jaguar site at Browns Lane in Coventry.
Peugeot revs up output after change of fortune – PSA Peugeot Citroen has unveiled plans to ramp up European production in a sign of the gathering strength of the region’s car market and increasing confidence at the French manufacturer. Only a year ago the carmaker – Europe’s second-biggest by sales – was battling to stem losses amid a sharp fall in sales.
Tech leader takes Rolls-Royce helm as UK champion seeks to revive fortunes – A celebrated technology executive is to take on one of the trickiest jobs in UK industry – reviving the fortunes of Rolls-Royce, a company that symbolises British manufacturing prowess but which has been hit by a string of profit warnings and questions over strategy.
Companies and Markets – Persson hits end of the road with Volvo – Volvo Group has ousted its chief executive and replaced him with the boss of rival Scania as the truckmaker looked for someone with “deeper experience” of the industry to help complete its turnaround after a fall in profitability.
Car plant is eyeing up a shiny new Lexus – One road, three counties, five key parliamentary swing seats. The A50 links a region that the chancellor has dubbed the Growth Corridor and a city, Derby, charged by the prime minister with leading the country out of the recession. In the third of a five-day series in this industrial heartland, Robert Lea visits Toyota’s factory as Burnaston.
The Daily Telegraph
Drive to expand – Volvo targets US via China – Volvo is looking to break into the American car market from its base in China, writes Alan Tovey in Chengdu. The Swedish manufacturer, which is owned by Chinese billionaire Li Shufu’s Geely company, has launched a car produced at its Chengdu plant in the south west of the country.
Have a drink: dehydrated drivers are as dangerous as drunk ones – Drinking and driving is actually a good idea, according to new research – but only if the liquid is water. Researchers found that mildly dehydrated motorists who drank as little as 25ml of water an hour while driving made as many mistakes as those over the drink-drive limit for alcohol – and more than twice as many mistakes as those who were properly hydrated.
The Daily Telegraph
Shanghai motor show drives home China’s top ranking in the industry – China’s dominant position as the number one global car market has been underlined at the vast Shanghai auto show as manufacturers showed off their latest wares, despite the sales growth in the country hitting the brakes.
Rolls-Royce shares rev 4% as Rishton retires –Rolls-Royce’s chief executive, John Rishton, quit the British engineering gaint yesterday, saying “it was time for a change in lifestyle”. Mr Rishton, who has been criticised by some investors over company strategy, is to be replaced by Warren East, the former chief executive of Arm Holdings.