The offer of Carlyle Group’s shares in Axalta Coatings Systems is expected to end today. Axalta announced last week Carlyle was selling its 41,621,996 common shares in the company, which equates to about a 17% stake. Axalta will not receive any of the proceeds of the share offering, and following the sale Carlyle Group will [...]

Axalta Coating Systems has acquired the business of Geeraets Autolak, a distributor of Axalta’s Cromax refinish coating products in the Netherlands for nearly 40 years. The operations of Geeraets Autolak will be integrated into the Axalta organisation, operating under the Cromax name. The acquisition takes effect immediately. Financial terms of the agreement were not disclosed. [...]

Daimler has unveiled the concept for its first ever rigid-body electric truck. Based on the Mercedes-Benz heavy-duty three-axle short-radius distribution truck, with the conventional powertrain replaced with a battery pack comprising three modules of lithium-ion batteries with a total capacity of 212 kWh, the Urban eTruck will have a range of 200km. The battery pack [...]

HERE, the cloud-based tracking company, has launched three new cloud-based information services that provide drivers pre-departure traffic information as well as personalised fuel and parking recommendations based on their preferences and habits. HERE Departure Alert and HERE Personal Recommendations join the suite of HERE Automotive Services that delivers advanced content to drivers via connected embedded [...]

Fiat Chrysler Automobiles (FCA) has reported substantial growth in the second quarter of 2016, with earnings before interest and tax (EBIT) up 16% to €1.6bn. Margins improved significantly in EMEA (Europe, Middle East and Africa), while FCA’s market share in the US increased to 12.7%. It also remained market leader in Brazil with 17.8% market [...]