Tag: invest (Page 2 of 2)

Fiat Chrysler, Peugeot Owner PSA Once Again in Talks to Combine

October 29, 2019 / WIL BALDWIN

(Reuters) – Fiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could create a $50 billion (£38.88 billion) automaker, a source familiar with the matter said on Tuesday.

Fiat Chrysler shares rose sharply after news of the talks and ended up more than 7.5% in U.S. trading. The companies and the French government had no comment.

The Wall Street Journal first reported the discussions. PSA’s supervisory board was due to meet on Wednesday to discuss the potential merger, another source close to the matter said.

If a combination of Peugeot and Fiat Chrysler succeeded in overcoming political, financial and governance hurdles, the new enterprise would still face substantial challenges. Global automakers face the prospect of a slowdown in global demand coinciding with the most dramatic technology changes in a century.

Peugeot Chief Executive Carlos Tavares has predicted “ten years of chaos” for global automakers as regulators demand a switch to electric vehicles to reduce emissions linked to climate change.

Investors have speculated for several years that Fiat Chrysler was hunting for a merger partner, encouraged by the rhetoric of the company’s late chief executive, Sergio Marchionne.

In 2015, Marchionne outlined the case for consolidation of the auto industry and tried unsuccessfully to interest General Motors Co in a deal. Fiat Chrysler earlier this year broached a merger with French automaker Renault SA that ultimately collapsed.

Created when Fiat, under Marchionne’s leadership, bought control of Chrysler out of a U.S. government-backed bankruptcy in 2009, Fiat Chrysler has one of the global auto industry’s most profitable franchises in the Jeep sport utility vehicle brand and a money-spinning North American pickup and commercial van operation in Ram. Both would boost Peugeot, which does not sell vehicles in the U.S. market.

Peugeot and Fiat Chrysler could over time share engines and vehicle architectures, reducing capital spending and freeing up cash to invest in electric vehicles and emissions reduction technology required in Europe, China and other global markets.

Fiat Chrysler is under increasing pressure to invest in clean car technology. The company disclosed earlier this month that it faces a $79 million fine for falling short of U.S. fuel efficiency standards. Fiat Chrysler agreed to pay U.S. electric car maker Tesla Inc for credits to help it comply with European emissions standards until 2022.

Evercore analyst Arndt Ellinghorst in a note on Tuesday said a combination of Fiat Chrysler and Peugeot “should ignite more rational industry behavior around allocation of capital and this particular merger makes materially more sense than a potential FCA-Renault merger.”

Peugeot and Fiat Chrysler had discussed a combination earlier this year, before Fiat Chrysler proposed a $35 billion merger with Renault. At that time, Fiat Chrysler said a deal with Renault offered more advantages than a combination with Peugeot.

Fiat Chrysler Chairman John Elkann broke off talks with Renault in June after French government officials intervened and pushed for Renault first to resolve tensions with its Japanese alliance partner, Nissan Motor Co.

Following the collapse of the Renault merger plan, Fiat Chrysler CEO Mike Manley left the door open for talks with would-be partners. But he said the Italian-American automaker could go it alone despite mounting costs to develop electric vehicles and comply with tougher emissions rules in Europe, the United States and China.

Along with Jeep and Ram would come Fiat’s Italian operations, which have struggled in recent years. Fiat’s Mirafiori assembly complex in its home city of Turin has run below 50% capacity, with thousands of workers on temporary layoffs.

Overall, Fiat has 58,000 workers in Italy, where the government has long resisted mass lay-offs by large employers.

Peugeot’s Tavares dismissed the idea of a combination with Fiat Chrysler during a discussion with reporters at the Frankfurt auto show last month. “We don’t need it,” he said when asked whether he was still interested in a deal with Fiat Chrysler.

Tavares has moved aggressively to expand Peugeot, acquiring German auto brand Opel from General Motors Co for $2.6 billion in 2017. Since then, he has overseen a turnaround at Opel.

Fiat Chrysler already has a commercial vehicle partnership with Peugeot.

(Reporting by Dominic Roshan K.L. in Bengaluru; Editing by Maju Samuel, Richard Chang and Dan Grebler)

British Airways to Become First UK Airline to Offset Carbon Emissions on Flights

October 11, 2019 / WIL BALDWIN

Airline announces plan to offset carbon emissions for all UK domestic flights from 2020
British Airways to invest in verified carbon reduction projects around the world
From 2020, British Airways’ carbon emissions on international flights will be capped through the United Nations’ carbon offsetting scheme
Announcement comes as parent company International Airlines Group (IAG) announces commitment to achieving net zero carbon emissions by 2050

From January 2020, British Airways will become the first UK airline to offset carbon emissions on all its flights within the UK.

All customers flying within the UK next year on flights operated by British Airways will have the carbon emissions from their flights offset by the airline and invested in carbon reduction projects around the world*. These quality assured projects will include renewable energy, protection of rainforests and reforestation programmes.

The airline operates up to 75 flights a day between London and 10 UK cities, including Manchester, Leeds, Newcastle, Isle of Man, Edinburgh, Glasgow, Aberdeen, Belfast City, Inverness and Jersey. British Airways’ domestic emissions total around 400,000 tonnes of C02 a year.

Today’s announcement comes as British Airways’ parent company, International Airlines Group (IAG), became the first airline group worldwide to commit to achieving net zero carbon emissions by 2050, contributing to both the UK Government’s commitment to a net zero carbon economy by 2050 and the United Nations’ objective to limit global warming to 1.5 degrees. IAG’s emissions’ goal will be achieved through numerous environmental initiatives, including investing more than US$400m in the development of sustainable aviation fuels over the next 20 years.

Alex Cruz, British Airways’ Chairman and Chief Executive, said: “British Airways is determined to play its part in reducing aviation’s CO2 emissions. To solve such a multi-faceted issue requires a multi-faceted response and this initiative further demonstrates our commitment to a sustainable future. It also follows our announcement to partner with renewable fuels company, Velocys, to build a facility which converts household and commercial waste into renewable sustainable jet fuel to power our fleet.”

While customers on UK domestic flights will not need to offset their emissions, those travelling further afield can also reduce their impact on the environment by using British Airways’ carbon offsetting tool. The carbon tool enables customers to calculate their emissions and then invest in carbon reduction projects including high quality forestry and renewable energy projects in Peru, Sudan and Cambodia**.

Using the tool, which can be accessed on https://www.pureleapfrog.org/ba/carbon_zero, a customer will pay around £1 to offset a return flight from London to Madrid, travelling in economy, while from London to New York in business class will cost around £15.***

Notes to Editors

* British Airways is investing in Verified Carbon Standard projects.

**British Airways’ offset scheme is operated through the airline’s partnership with not-for-profit organisation Pure Leapfrog. For more information on the carbon reduction projects, visit: https://www.pureleapfrog.org/ba

***While customers travelling on domestic flights’ carbon emissions are offset for them, customers flying outside of the UK can choose to pay to offset their emissions. Examples of pricing are shown below:

Journey	Cost to offset
London to Madrid (economy)	£ 1
London to New York (economy)	£ 5
London to New York (business)	£ 15
London to Los Angeles (economy)	£ 8
London to Los Angeles (business)	£ 24
London to Hong Kong (business)	£ 26

Customers can find a link to the carbon calculator at https://www.pureleapfrog.org/ba/carbon_zero

Airbus Pulls Out of Canada Fighter Jet Race

August 30, 2019 / WIL BALDWIN

OTTAWA (Reuters) – Airbus SE <EADSY> on Friday pulled out of a multibillion-dollar competition to supply Canada with 88 new fighter jets, a decision that boosts the chances of rival Lockheed Martin Corp <LMT>.

The defense arm of Airbus, which indicated last month it might withdraw, cited onerous security requirements and a late decision by Ottawa to loosen the rules for how much bidders would have to invest in Canada.

Airbus and other contenders had already complained the government appeared to be tilting the race in favor of Lockheed Martin’s F-35 plane, which the Royal Canadian Air Force wants. Canada is part of the consortium that developed the plane.

Canada launched the long-delayed competition last month and said it was confident no favoritism had been shown. Ottawa says the contract is worth between C$15 billion ($11.30 billion) and C$19 billion.

Canada’s official opposition Conservative Party, which is seeking to defeat Liberal Prime Minister Justin Trudeau in an October election, accused the government of gross mismanagement.

Reuters revealed in July that Airbus and Boeing Co <BA.N> had written to Ottawa to say they might pull out.

The firms are unhappy that in late May, the government dropped a demand that bidders must guarantee to give Canadian businesses 100% of the value of the deal in economic benefits.

Such legally watertight commitments, which Boeing, Airbus and Sweden’s Saab AB <SAABb.ST> had already agreed to, contradict rules of the F-35 consortium. Ottawa’s move allowed Lockheed Martin to stay in the competition.

“One of the strongest points of our bid was the fact we were willing to make binding commitments,” said an Airbus source, who requested anonymity given the sensitivity of the situation.

“Once this was loosened up to a point where these commitments were no longer valued in the same way”, the firm decided “that’s just too much”, added the source, who also cited security challenges.

European jets must show they can meet stringent standards required by the United States, which with Canada operates the North American Aerospace Defense Command.

“NORAD security requirements continue to place too significant of a cost on platforms whose manufacture and repair chains sit outside the United States (and) Canada,” Airbus said in a statement.

Canadian Procurement Minister Carla Qualtrough said she respected the Airbus decision, adding Ottawa was determined there should be a level playing field.

“This included adapting the economic benefits approach to ensure the highest level of participation among suppliers,” she said in emailed comments.

Canada has been trying unsuccessfully for almost a decade to purchase replacements for its aging F-18 fighters. The former Conservative administration said in 2010 it would buy 65 F-35 jets but later scrapped the decision, triggering years of delays and reviews.

Trudeau’s Liberals took power in 2015 vowing not to buy the F-35 on the grounds that it was too costly, but have since softened their line.

“Justin Trudeau has spent the past four years delaying and dithering on new fighter jets for Canada only to completely mismanage the competition process,” said Conservative defense spokesman James Bezan.

Lockheed Martin declined to comment while Boeing and Saab did not respond to requests for comment.

($1 = 1.3275 Canadian dollars)

(Reporting by David Ljunggren; Editing by David Gregorio)

Spirit Airlines Looking at Airbus and Boeing Planes for Growth, Debuts WhatsApp

August 26, 2019 / WIL BALDWIN

LAS VEGAS (Reuters) – Spirit Airlines <SAVE>, a fast-growing, low-cost U.S. carrier that flies an all-Airbus SE <EADSY> fleet, is looking at both the Airbus A321neo and a larger Boeing Co <BA> aircraft to fuel its growth, Chief Executive and President Ted Christie said on Monday.

“The A321neo is certainly something we’re looking at, but we’re also in conversations with Boeing about their larger airplane too, so it’s all on the table,” Christie said at an aviation conference.

(Reporting by Tracy Rucinski; Editing by Steve Orlofsky)

MIRAMAR, Fla., Aug. 26, 2019 (GLOBE NEWSWIRE) — Spirit Airlines, the fastest growing airline in the United States, continues its commitment to invest in the Guest experience with an industry-leading technology to connect with its Guests via the messaging application WhatsApp. Beginning in September, the technology, powered by global conversational commerce solutions provider LivePerson, will open a new direct line of communication between Spirit’s English and Spanish-speaking Guest Relations and Reservations teams and the millions of Spirit Guests in the United States, the Caribbean, and Latin America, who already use WhatsApp every day.

“We launched this service to better connect with our Guests, both domestically and abroad, as many have told us that they would rather communicate on a familiar and convenient service like WhatsApp,” said Bobby Schroeter, Vice President of Sales & Marketing at Spirit Airlines. “We know WhatsApp is incredibly popular in the United States, but also in the more than two dozen destinations we serve in the Caribbean and Latin America. From travel updates to adding a bag to your reservation, this new messaging service allows Guests to communicate with us in English and Spanish and to opt in to WhatsApp messaging. It is all part of our goal to elevate and improve our Guest experience.”

The launch of WhatsApp support comes as a direct result of Spirit’s new partnership with LivePerson, a global leader in conversational commerce solutions. Beyond WhatsApp, the partnership also makes it possible for Spirit Guests who call to get immediate support by opting to begin a messaging conversation with Spirit representatives instead.

These new Guest solutions will also leverage LivePerson’s new AI-powered Maven Assist capability, which recommends the optimal next actions for human agents to take, including surfacing content or suggesting virtual assistants capable of responding to a Guest’s intent. Guests will still retain the ability to message with a live representative at any time during the process to address questions, comments and situations that are best suited for a live specialist.

“We’re excited to enable this new connection for America’s fastest growing airline, providing a powerful, engaging way for Guests to connect with Spirit on their own time,” said Rick Winnard, Global Head of Gainshare Programs at LivePerson. “Guests want to be able to ask questions, add products, and get immediate help without waiting, and with Spirit we’re making it possible for them to do so in the messaging channels they prefer.”

In addition to new WhatsApp and messaging support, Spirit will continue to serve its Guests via its social media channels, on Twitter and Facebook. Over the past two years, Spirit has heavily invested in the Guest experience touching all aspects of the journey, including on-time performance, Guest care technology, and in-flight products.

Amtrak Investing in the Auto Train Customer Experience

July 16, 2019 / WIL BALDWIN

Changes to debut by January 2020

WASHINGTON – Amtrak will introduce a series of enhancements on the Auto Train during the next six months. This train offers daily, non-stop service from Lorton, Va. (near Washington, D.C.), and Sanford, Fla. (near Orlando). Customers can skip I-95 and travel with their vehicles, including cars, vans, SUVs, motorcycles, and even small boats or jet-skis.

Customers in the Sleeping Car will notice enhancements such as upgraded towels and bed linens and other pleasantries in each room. The dining car will feature a new menu and the addition of complimentary wine to the dinner service. This complimentary dinner service will become an exclusive amenity to Sleeping Car customers beginning on Jan. 15, 2020.

Amtrak will also expand the availability of every Sleeping Car accommodation — Roomette, Bedroom, Family Bedroom and Accessible Bedroom — to meet the demand for this class of service.

Coach customers will continue to take advantage of low fares and can choose from new dining options with the debut of the Cross-Country Café. Beginning on Jan. 15, 2020, the new menu will offer more meals, snacks and beverages for sale. At that time, Coach class tickets will no longer include complimentary dinner service. Coach customers will receive a complimentary continental breakfast prior to arrival at the Amtrak stations in Lorton, Va., or Sanford, Fla.

For all customers, food trucks will be on-site in Lorton, Va., and Sanford, Fla., to offer a variety of dining options before their journey begins.

“These upgrades represent an investment in improving the travel experience on this one-of-a-kind train,” Amtrak President and CEO Richard Anderson said. “Our continued success depends on increasing customer satisfaction by upgrading sleeping accommodations, keeping Coach as an affordable option and providing more choice in food options in the station and onboard.”

By the start of 2020, customers can take advantage of additional offers to travel on the Auto Train:

Share Fares will be available for travel with up to three companions. The discount will be up to 70% for a group of four and apply to select departures
The Oversized Vehicles fare will be available for minivans, full-size pick-up trucks and SUVs with three or more rows. This option will allow customers to pack more into their vehicle.
Amtrak Guest Rewards Select Executive members will receive a complimentary priority offload coupon as part of their tier member benefits.

Southbound Auto Train heading over Neabsco Creek in Woodbridge, VA.

Fiat Bets On Electric ‘500’ As It Moves On From Renault

July 11, 2019 / WIL BALDWIN

FILE PHOTO: A Fiat Chrysler Automobiles sign is seen at the U.S. headquarters in Auburn Hills, Michigan,

TURIN, Italy (Reuters) – Fiat Chrysler plans to invest 700 million euros ($788 million) in an electric makeover of its iconic Fiat 500, a top executive said on Thursday, as the automaker seeks to move on from its failed bid to merge with France’s Renault.

FCA’s chief operating officer for Europe, Middle East and Africa, Pietro Gorlier, announced the investment – the Italian-American company’s biggest single bet on an electric vehicle – at its Mirafiori plant in Turin, northern Italy.

“The plan is confirmed,” Gorlier told reporters, when asked if FCA’s investment in electric vehicle technology would remain unchanged after its $35 billion plan to merge with Renault, an electric car pioneer, collapsed last month.

He said FCA would invest the 700 million euros to build a new production line at Mirafiori to turn out 80,000 of the new 500 BEV, its first battery electric vehicle to be marketed in Europe after a smaller, initial foray in the United States.

Production will start in the second quarter of 2020, with capacity to be expanded later, Gorlier said.

The 500 compact car is one of the group’s most famous models, launched by then Fiat in the late 1950s and quickly becoming a symbol of Italian urban design.

The 700 million euros investment is part of a plan announced last year to invest 5 billion euros in Italy up to 2021.

In abandoning its merger offer for Renault, FCA blamed French politics for scuttling what would have been a landmark deal to create the world’s third-biggest automaker.

($1 = 0.8878 euros)

(By Giulio Piovaccari; Editing by Mark Bendeich and Mark Potter)

Spirit Airlines Adds Two New California Routes to Las Vegas

June 20, 2019 / WIL BALDWIN

Partners with Airport to Debut First Self Bag Drop System

MIRAMAR, Fla., June 20, 2019 (GLOBE NEWSWIRE) — Spirit Airlines, the fastest growing airline in Las Vegas, continues its investment in the Entertainment Capital of the World with the addition of two new cities to the Spirit network: Burbank and Sacramento. On June 20, Spirit launched nonstop flights between McCarran International Airport (LAS) in Las Vegas and Hollywood Burbank Airport (BUR) and Sacramento International Airport (SMF), each running three times daily. Spirit will now have 55 daily departures from Las Vegas to 29 different destinations.

In partnership with McCarran International Airport, Spirit Airlines also debuted the airport’s first automated self-service bag drop system. Located in the ticketing concourse of Terminal 1, it allows Guests to expedite their check-in experience by paying for and tagging their own bags on the airport’s kiosks. Travelers then proceed directly to newly installed automated bag belts to present their identification and drop their bags. Automated self-service bag drop systems, widely adopted in Europe, highlight the airport and airline’s shared vision of allowing more Guests to customize and control their travel experience.

“We are pleased to partner with Spirit Airlines as we pilot this new automated self-service bag drop system at McCarran International Airport,” said Director of Aviation Rosemary Vassiliadis. “As a 100 percent common-use airport, we have a long history of introducing new, customer-focused technologies geared toward enhancing the passenger experience. We look forward to this rollout with Spirit and to expanding this service to more areas of our operation in the near future.”

“Our growth and investment in Las Vegas has been an ongoing mission for Spirit Airlines,” said Mike Byrom, Spirit Airlines’ Vice President of Airport Services. “Our partnership with McCarran International Airport to install the first automated self-service bag drop system in Las Vegas is a clear message that we are thinking about every facet of our Guest experience with innovative and forward-thinking solutions to elevate our service.”

In addition to Sacramento and Burbank, Spirit will soon be adding Nashville to its network, which will include nonstop service to and from Las Vegas. As of July 2019, Spirit will have grown nearly 50 percent in Las Vegas compared to its capacity only two years earlier. The airline now employs more than 1,000 people in Las Vegas, and Spirit’s rapid expansion has created nearly 300 additional jobs in the last two years.

“We’re delighted by the growth of direct service to Las Vegas by our partners at Spirit Airlines,” said Chris Meyer, Vice President of Global Sales for the Las Vegas Convention and Visitors Authority. “In the past year, Spirit has added direct service from five new markets, conveniently and affordably connecting both business and leisure travelers to our destination. Whether you’re visiting for work or play, Vegas changes everything by taking every experience to a new level, and we’re thrilled about the opportunity to continually reach more travelers across the country.”

VIDEO B-ROLL: https://youtu.be/eLchQp1X5wg

About Spirit Airlines:

Spirit Airlines (SAV E) is committed to delivering the best value in the sky. We are the leader in providing customizable travel options starting with an unbundled fare. This allows every Guest to pay only for the options they choose — like bags, seat assignments and refreshments — something we call À La Smarte. We make it possible for our Guests to venture further and discover more than ever before. Our Fit Fleet® is one of the youngest and most fuel-efficient in the U.S. We operate more than 600 daily flights to 76 destinations in the U.S., Latin America and the Caribbean, and are dedicated to giving back and improving the communities we serve. Come save with us at spirit.com. At Spirit Airlines, we go. We go for you.

Air Antilles to be First Caribbean Operator of Viking Twin Otters

June 18, 2019 / WIL BALDWIN

Paris, France, June 18th, 2019: Viking Air Limited of Victoria, British Columbia, Canada, and Air Antilles, of Guadeloupe, French West Indies, have signed an agreement for the purchase of two Viking Twin Otter Series 400 aircraft, making Air Antilles the first commercial operator of the Series 400 in the Caribbean. Also forming part of the purchase agreement, Air Antilles will become the first Series 400 Twin Otter operator to receive European Union Aviation Safety Agency (EASA) certification for steep approach operations.

The two Viking-built Series 400 Twin Otters are scheduled for delivery to Air Antilles in the last quarter of 2019 and will be configured as 19-passenger regional commuter landplanes to replace the two legacy de Havilland Series 300 aircraft currently in commercial service with the airline.

With delivery of the Series 400 aircraft, Air Antilles will become the first commercial operator to receive EASA certification for steep approach landings, providing the airline with procedures to operate at approach angles in excess of 4.5 degrees. This is essential for Air Antilles’ scheduled operations to Gustaf III airport in Saint Barthelemy in order to satisfy EASA’s requirements for all commercial aircraft that access the airport to have factory certification for steep approach landings due to the surrounding mountainous terrain.

Eric Kourry, chairman of Guyane Aero Invest, the holding company of Air Antilles, commented, “As an operator of legacy de Havilland Series 300 aircraft for more than a decade, our knowledge of the Twin Otter’s exceptional flight capabilities, ease of maintenance, high dispatch reliability and suitability for our operations made selection of the Viking Series 400 a natural choice for upgrading our fleet.

“As travel tourism in the Caribbean expands, improvements to safety are becoming increasingly important for airlines to retain a competitive advantage. The innumerous improvements made to the new Series 400 will help Air Antilles increase safety and bring added value to their flight operations,” said David Caporali, Viking regional sales director for the Americas. He added, “The Caribbean shows encouraging market opportunities for Series 400 Twin Otter due to its low operating costs, ability to access the many short runways throughout the region, and its ability to support growth of an inter-island commercial transportation network. We highly value Air Antilles’ initiative to be the launch customer for the Series 400 in the region and are confident this relationship will yield many good results for both parties.”

About Air Antilles:

Compagnie Aerienne Inter Regionale Express (CAIRE), created in 2002, is an airline that operates under the name Air Guyane in the French Guiana, and under the name Air Antilles in the Caribbean. Air Antilles is one of the main regional airline companies in the Caribbean with more than 20 destinations in the area. The Twin Otter aircraft essentially serve from Guadeloupe to Saint Barthelemy, with Dominica soon to be added.

*Pictured above: Proposed paint scheme for Air Antilles’ new Series 400 Twin Otters scheduled for delivery at the end of 2019.*

GM to Boost Heavy-Duty Pickup Truck Production

June 12, 2019 / WIL BALDWIN

FLINT, Mich. (Reuters) – General Motors Co president Mark Reuss said on Wednesday that the automaker is investing about $150 million at its Flint Assembly plant in Michigan, to boost production of heavy duty trucks by another 40,000 vehicles a year.

Reuss announced the investment at the Flint truck assembly plant wearing a United Auto Workers pin.

The Detroit automaker announced in February it was adding 1,000 jobs in Flint to build a new generation of heavy-duty pickup trucks.

GM did not say that the latest investment would add more jobs at the plant, but Reuss said there could be opportunities to add workers as the launch of the automaker’s new trucks progresses.

FILE PHOTO: A Chevrolet 2020 heavy-duty pickup truck is seen at the General Motors Flint Assembly Plant in Flint

GM has been under pressure from U.S. President Donald Trump and lawmakers of both parties to add jobs in the United States after it said last November it would idle a small car assembly plant in Lordstown, Ohio, and had no new products for three other U.S. manufacturing plants.

The Flint investment will include upgrades to the plant’s conveyors and other new tooling, and will be completed in the first half of 2020. GM has invested more than $1.6 billion in the plant since 2013.

Last month, GM said it would invest $24 million to increase truck production at its assembly plant in Fort Wayne, Indiana, which makes Chevrolet Silverado and GMC Sierra models.

FILE PHOTO: The frames of Chevrolet 2019 heavy-duty pickup trucks sit on the assembly line in the paint department at General Motors Flint Assembly Plant

Sales of heavy-duty pickups in the United States have grown to more than 600,000 vehicles a year, up more than 20 percent since 2013, according to industry data. Prices for luxury models can easily top $70,000.

GM’s Chevrolet and GMC brands have long trailed Ford Motor Co’s F-series heavy duty trucks in the lucrative segment. The new Chevrolet and GMC heavy duty trucks have been re-engineered to tow heavier trailers, and keep pace in what has become an arms race among the Detroit Three automakers to claim superior torque and towing capability.

(Reporting by Joe White in Detroit and Sanjana Shivdas in Bengaluru; Editing by Sriraj Kalluvila and Nick Zieminski)

Archives