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Month: January 2020

VW offers to buy rest of Navistar for $2.9B

VW offers to buy rest of Navistar for $2.9B

Volkswagen Group offered to buy the rest of Navistar International for about $2.9 billion, a deal that would address the German manufacturer’s absence from the U.S. heavy-truck market, Bloomberg reported, citing people familiar with the matter.

Detroit startup incubator closes operations

Detroit startup incubator closes operations

Techstars Detroit Managing Director Ted Serbinski said in an email to supporters that lack of funding for 2020 was the primary reason for the shutdown. Automotive companies, notably Ford, Honda and Lear, among others, supported the program since its inception in 2015.