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Daimler AG, which owns 11% of Russian truckmaker OAO KamAZ, is ready to increase its stake to a controlling interest, according to Interfax.
The news service cites Sergei Chemezov, CEO of Russian Technologies Corp., which owns 49.9% of KamAZ. Chemezov says Daimler would need to acquire KamAZ shares from Russian Technologies.
Daimler tells Reuters it has first right of refusal to buy a 10% KamAZ stake from investment bank Troika Dialog but has not yet decided whether to exercise that option.
The German automaker has two joint ventures in Russia with KamAZ. One makes light-duty Fuso Canter trucks. The other produces Setra buses and large Mercedes-Benz commercial trucks.
SolarWorld GT, an electric car powered solely by solar panels, begins the U.S. portion of its around-the-world trip in California on Tuesday.
SolarWorld GT electric car
The two-seater aims to complete a 3,774-mile route to South Carolina over the next 49 days. The car is scheduled to reach Arizona by the end of next week, Texas on Feb. 23 and Florida on Mar. 9.
The SolarWorld GT is 13.5 feet long, 5.2 feet wide and 4.4 feet wide. The car weighs only 573 lbs without driver and has a top speed of 62 mph. The solar array, which is integrated into the roof, can produce a maximum of 823 watts.
The car was developed by a team of 30 students at the University of Applied Sciences Bochum (Germany) in partnership with SolarWorld AG, a Bonn-based maker of solar panels.
The vehicle began its tour in Darwin, Australia, last October. It covered 3,100 miles in Australia and New Zealand before being shipped to the U.S. last month. After leaving North America, the car goes to Europe, Africa and Asia before returning to Darwin at the end of the year.
The U.S. Court of Appeal has vacated a $56 million patent-infringement award against Ford Motor Co. for allegedly violating the patent of a late Illinois inventor.
A federal jury awarded the verdict in 2008 to Jacob Krippelz Sr. He contended Ford’s use of so-called “puddle lights” on the side view mirrors of its vehicles violated his patent on the technology.
The appeals court said the patent was invalid because an earlier French patent covered the technology.
OAO AvtoVAZ confirms it will start producing a sedan by the end of this month that is based on a platform designed by alliance partner Renault SA, says Bloomberg News.
Earlier news reports said the companies planned make an array of small cars based on Renault’s Logan at AvtoVAZ’s factory in Togliatti, Russia. The company expects to boost production there to 750,000 vehicles this year from 630,000 units in 2011.
CEO Igor Komarov tells the news service that AvtoVAZ plans to later build Nissan-branded cars at the same factory.
Renault-Nissan has been in talks with AvtoVAZ for months to finalize a deal for Nissan to acquire 25% plus one share of the Russian company, thus giving to give the Franco-Japanese alliance a majority stake. Renault already owns 25% stake AvtoVAZ. Renault-Nissan said earlier this month that the deal could be weeks away.