Element Financial Raising $2.5B for Acquisition

Toronto-based Element Financial Corp. will raise $2.5 billion Canadian ($2.05 billion) in corporate debt to fund an unidentified acquisition that must be completed by the end of the year.

Progressive Gifts Freightliner Truck to Military Veteran

The Keys to Progress program provides reliable transportation to help military veterans and their families move forward in life.

Phoenix Motorcars & CATL Sign an MOU

The MOU will support the long-term supply of battery solutions and related products for Phoenix’s commercial electric vehicles.

PacLease Adds 14 New Locations

This brings the PacLease location total to 328.

Penske Truck Leasing Completes Acquisition of Bright Truck Leasing

READING, PA - Penske Truck Leasing Co., L.P., announced it completed the acquisition of Texas-based Bright Truck Leasing & Bright Distribution.

DaimlerChrysler to Create New Global External Affairs and Public Policy Department

Chinese Automotive Market Decelerating Faster Than Expected

The automotive market in China is declining faster than expected due to economic uncertainty and government restrictions over vehicle ownership.

Calif. Lags in Penetration of New Clean Diesel Engines

According to the Diesel Technology Forum, California’s truck and bus fleet rule has effectively kept older, higher-emitting trucks on the road for longer, in turn delaying emissions reductions and cleaner air.

Fiat Group, Chrysler Group International, and GAC Group Ink China Cooperation Agreement

Fiat Group Automobiles S.p.A., Chrysler Group International LLC and Guangzhou Automobile Group Co., Ltd. (GAC Group) have signed a framework agreement to expand their cooperation on passenger car manufacturing and sales in China.