XPO's spinoff, GXO, is expected to become a separate publicly traded company in the third quarter
XPO Logistics Inc. said its subsidiary GXO Logistics Inc. has priced an offering of $800 million of notes in two tranches.
Greenwich, Conn.-based XPO made the announcement June 17, explaining that the notes consist of $400 million due 2026 and $400 million due 2031.
“The project will be implemented in several stages and it involves the construction of over 40,000 m2 of production areas, warehouses and office buildings. Dräxmlaier Timișoara will produce electronic and high voltage components. The highlight is the future battery assembly system for hybrid cars produced by a premium carmaker, which will be opened in 2022,” the company said.
Porsche Engineering, the technology service provider and wholly owned subsidiary of Porsche, opens a second tech location in Romania.
With a new research and development site in Timișoara, it is further expanding its network of innovation centres for developing the intelligent and connected vehicles of the future. The new location extends and complements the work being done by Porsche at its other Romanian site, in Cluj-Napoca. Opened in 2016, this base is home to 250 employees, who are working on various high-tech automotive projects.
Dacia cars will feature the new logo and emblem from the second half of 2022, with dealerships switching to the new corporate identity early next year.
The Romanian firm says the new logo, which combines and mirrors the letters ‘D’ and ‘C’ in a redefined typeface, “gives the impression of robustness and stability” and reflects the brand’s “simplistic and artful mindset”. The new branding was first shown on Dacia's Bigster concept earlier this year.
When Renault’s three manufacturing plants in northern France – Douai, Maubeuge, and Ruitz – come together to create the largest and most competitive EV production facility in Europe, you get Renault ElectriCity! This is an overview of a new leading facility within the Group’s industrial ecosystem.
Fuel cells are finding their way onto the roads around the world. For Bosch, the next milestone in this development is a major order for electric air compressors with integrated power electronics. These compressors govern the fuel-cell system’s oxygen supply. Bosch has signed a long-term agreement with cellcentric to supply this high-tech component. A 50:50 joint venture between Daimler Truck AG and Volvo Group AB, cellcentric is responsible for all activities along the entire value chain.
Commodity prices resumed their upward surge in May, rising across the board. Energy commodities rose 7,1% (up 35,1% since end-December) while non-energy commodities jumped 6,8% (18,8%).