* The United Auto Workers' 46,000 hourly workers walked out late Sept. 15 at 31 General Motors Co. factories and 21 other facilities in nine states, the first strike in the auto industry since 2007, after its labor agreement with the carmaker lapsed Sept. 14, CNN reported. Credit Suisse analyst Dan Levy reportedly said the strike could shave $50 million off GM's EBIT per day. The union, which is negotiating collective bargaining agreements with the Detroit Big 3 automakers, agreed to temporarily extend agreements with Ford Motor Co. and Fiat Chrysler Automobiles NV.
* Volkswagen's Audi AG brand will name BMW AG's engine development expert Markus Duesmann its next CEO April 1, 2020, Reuters reported, citing German newspaper Frankfurter Allgemeine Zeitung. Duesmann will replace interim CEO Bram Schot. VW in July 2018 offered Duesmann, who also leads BMW's purchasing and supplier network, a seat on the board following the arrest of Audi's then-CEO Rupert Stadler.
CARMAKERS
* Volkswagen AG will consolidate its fragmented software operations over the next three to five years under a $9 billion investment plan, Bloomberg News reported, citing the Volkswagen brand's head of digital car and services. During a presentation at the Frankfurt auto show, Christian Senger said the merged operations will employ as many as 10,000 developers.
* Mitsubishi Motors Corp. said it will begin producing its Xpander crossover in Vietnam from 2020.
ELECTRIC AND AUTONOMOUS VEHICLES
* BMW will not renew its electric flagship vehicle, the battery-electric i3, to focus on electrifying its current models and building pure-electric cars, the Financial Times (London) reported, citing sales and marketing head Pieter Nota. BMW, which plans to launch 13 battery-powered models by 2023, will continue building the i3 and sell it for a few more years, the report said.
* South Korean carmaker Hyundai Motor Co. will team up with local telecom giant KT to develop a fleet management system, or FMS, for its electric buses, The Investor reported. KT is piloting its FMS in 14 Hyundai buses and will collect data from the operators and vehicles before expanding to other cities, including Incheon and Daejeon.
* Tesla Inc. CEO Elon Musk told employees to start putting vehicles in transit to local delivery centers immediately instead of coordinating delivery schedules and piling up inventory, Electrek reported, citing employees who were on the call. Musk reportedly wants a constant flow of vehicles going to the end destinations and compared the approach to that of Amazon.com.
MOBILITY SERVICES
* Hyundai and Kia Motors Corp. are proposing buying a minority stake in Ola Electric Mobility Pvt Ltd., the electric vehicle arm of Indian ride-hailing service Ola Cabs' parent ANI Technologies Pvt. Ltd., The Times of India reported, citing a filing with the Competition Commission of India. Financial terms of the proposed deal were not disclosed.
* Hong Kong's High Court said it will continue to ban Uber Technologies Inc. drivers without a hire-car permit, the South China Morning Post reported.
* Daimler AG-backed helicopter maker Volocopter GmbH made its first European flight in Stuttgart, Germany. Volocopter, which has also bagged investments from Chinese carmaker Geely Automobile Holdings Ltd., plans to launch an air-taxi service.
POLICY, REGULATIONS AND SAFETY
* Volkswagen's Australian arm reached a nearly A$140 million settlement on a class-action lawsuit over about 100,000 Australian EA189 diesel vehicles fitted with illegal emissions software. The settlement, which the company expects to finalize in 2020, is subject to approval by the Federal Court of Australia. The German carmaker said it is also nearing a settlement of a civil lawsuit with Australia's competition watchdog, Australian Competition and Consumer Commission.
* General Motors issued a safety recall for 268,675 vehicles over faulty engine and seatbelt software, days after it announced a recall of over 3.4 million pickup trucks and SUVs in the U.S. to fix a brake problem.
* A series of drone attacks on Saudi Arabia's oil facilities, which took out over 5% of the world's oil supply, will likely cause U.S. gasoline prices to rise, Reuters reported, citing petroleum and oil analysts. California-based motorists could be hit hardest, the report added. U.S. President Donald Trump tweeted that he has authorized the release of crude from America's petroleum reserves "to keep the markets well-supplied."
* German auto lighting company OSRAM Licht AG asked its shareholders to approve a €4.3 billion takeover bid from Austrian sensor specialist Ams AG calling the offer "economically attractive." The company, however, noted that some board members continue to have concerns regarding the takeover.
AUTOMOTIVE RETAIL
* Affinitiv Inc. received a noncontrol investment from lower-middle-market private equity firm The Riverside Co. The investment comes in conjunction with Affinitiv's acquisition of fellow automotive marketing technology provider Loop LLC, or AutoLoop.
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The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng slipped 0.83% to 27,124.55.
In Europe, around midday, the FTSE 100 shed 0.24% to 7,349.78, and the Euronext 100 dropped 0.59% to 1,087.19.
On the macro front
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