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After weeks of speculation and rumors, the Ford Motor Company announced its purchase and plan to invest over $1 billion into the Michigan Central rail depot in Detroit’s historic Corktown neighborhood.  Made public 115 years to the day after Henry Ford signed the company’s articles of association, Ford plans the investment to mark a new chapter for the company, the city, and – most importantly – the future of transportation.…
In the competition amongst automobile manufacturers to knock autonomous driving out-of-the-park, Cadillac is next up to the plate.  Recently – rolling-out its newest autonomous driving technology – General Motors (“GM”) announced, beginning in 2020, “semi-autonomous” driving will be available in all Cadillac models.  Dubbed “Super Cruise,” the technology is GM’s latest attempt to capture some of the autonomous driving market share Tesla currently dominates.…
In the competition amongst automobile manufacturers to knock autonomous driving out-of-the-park, Cadillac is next up to the plate.  Recently – rolling-out its newest autonomous driving technology – General Motors (“GM”) announced, beginning in 2020, “semi-autonomous” driving will be available in all Cadillac models.  Dubbed “Super Cruise,” the technology is GM’s latest attempt to capture some of the autonomous driving market share Tesla currently dominates.…
Any industry pushing for more regulation is a rarity.  But auto industry representatives are urging lawmakers to create more federal regulation for self-driving cars. The belief is that federal laws will provide more consistency  and encourage (rather than hinder) innovation as compared to “patchy” state laws. The industry is supporting legislation that would preempt state laws as it relates to highly automated vehicles.…
Every now and then, our law firm makes blog worthy news.  In those instances, please pardon our shameless self-promotion.  We here at the Dashboard are proud to share that Foley has been recognized with two outstanding designations by The BTI Consulting Group: 1 of the top 10 U.S. law firms that are most recommended by corporate counsel for client service excellence as reported in the 2015 BTI Brand Elite list Listed in the elite BTI…
Foley hosted Drive Forward: The Future of Telematics on January 14 and undoubtedly, our speakers agreed – the connected car is here to stay with technology rapidly advancing towards the integration of autonomous vehicles. Speakers provided supplier, OEM and legal perspectives on the technologies and challenges associated with the increased interconnectivity of vehicles.…
The U.S. Department of Energy is overhauling a $16 billion low-interest financing program to fund new technologies such as efficient engines, lightweight materials, and low-friction tires. This program, titled the Advanced Technology Vehicles Manufacturing Loan Program, is being modified to further help suppliers access low-interest loans. In a recent announcement, Energy Secretary Ernest Moniz said that the ATVM program presented “an opportunity to hit the accelerator on U.S. auto manufacturing growth.” Since the creation of…
When Fiat announced its $4.35 billion deal to gain full control of Chrysler Group LLC, market approval came quickly as Fiat’s shares spiked to over 2 year highs.  The deal, which recently closed, is viewed as an effort by Fiat to bolster its global auto position. This deal announcement has been long anticipated (despite talks of a Chrysler IPO), in particular based on Chrysler’s recent strong performance and the overall growth of U.S. and North…
Automotive industry deal values globally increased 24% to $13.1 billion in the first half of 2013 compared to the same period in 2012 ($10.6 billion) according to PwC’s recently released report, Automotive M&A Insights: Mid-Year Report 2013. While deal values were up, automotive deal volume slowed by 14% compared to the first half of 2012, which continues a trend from last year. PwC reports that there were 222 M&A transaction in the automotive sector, primarily…