Fuji Heavy Industries Ltd. Changes Company Name To Subaru Corporation

Fuji Heavy Industries Ltd. (FHI), the manufacturer of Subaru Australia vehicles, has announced the change in the company name to Subaru Corporation effective from April 1, 2017. FHI President and CEO Yasuyuki Yoshinaga, said: “We have long strived to make excellent products. In recent years, our effort has been expanded from making good products to delivering distinctive value which only Subaru can bring to our customers.

“This change in the company name declares Subaru’s determination to thrive as a brand that delivers value. When customers are satisfied, we see happy faces. We want to encourage even more smiles and create even more Subaru fans. Together with the new company name, let’s all make the Subaru team shine brighter!”

There will also be changes to names of affiliated FHI companies in USA, Beijing and Singapore. To mark the change, renaming ceremonies were held for employees at the company’s Head Office in Ebisu, Tokyo and three other domestic facilities. The all-new Impreza and a large-scale model of the advanced variant of the 412EPI helicopter were displayed at the Head Office ceremony to symbolize Subaru’s commitment to growth as a distinctive global brand in the automotive and aerospace industries.

The corporation will continue to bring customers the distinctive Subaru value of “enjoyment and peace of mind” by focusing on its customer-first principle as part of their management philosophy.

Intel To Buy Driverless Technology Firm Mobileye For $15.3 Billion

Intel, the largest computer chip manufacturer has decided to buy driverless technology firm Mobileye for $15.3 billion. Intel said it expected the transaction to close within the next nine months. Mobileye accounts for 70 per cent of the global market for advanced driver-assistance and anti-collision systems.

The two companies are already collaborating with BMW on a project to put a fleet of around 40 self-driving test vehicles on the road in the second half of this year. For a decade, Mobileye has relied on STMicroelectronics to produce chips which the company sells to many of the world’s car manufacturers for its current, third-generation of driver-assistance systems.

However Mobileye also teamed up with Intel for its fifth-generation of chips that aim to be used in fully autonomous vehicles and are scheduled to be delivered around 2021.

Opel To Be Sold To PSA

General Motors almost sold its money-losing European division in 2009 before deciding not to do so, hoping its fortunes had reversed. In the seven years since Europe has drained an additional $8 billion out of GM???s coffers. After warning recently of more losses in the region in 2017, GM is looking for a way out, confirming talks with PSA Group that it said could lead to a sale of Opel.

GM hasn???t turned a profit in Europe since 1999. Executives previously said they hoped to break even in 2016 and that the division was on track to do just that until the United Kingdom???s surprising vote to leave the European Union in June. GM cut its losses in Europe by two-thirds last year and the car manufacturer is continuing its transformation under CEO Mary Barra into a company dedicated to maximizing profit margins in North America and China.

The talks with PSA follow GM???s pull-out from Russia and Australia because it no longer saw those countries producing adequate returns on its investment. Meanwhile, GM earned a record $12 billion profit in North America last year. GM has controlled Opel since 1929 but the unit has struggled to make a profit for years amid increasing competition from the likes of Hyundai Motor and Volkswagen???s Skoda, which both have lower costs than the German-based manufacturer.