DUBAI (Reuters) – German chauffeur service Blacklane is planning an initial public offering (IPO) in the next three years, its chief executive told Reuters, as it strives to build its position in the fast-growing premium taxi market. Any flotation would follow those of larger ride-hailing rivals. U.S. group Lyft listed last month with a valuation… Continue reading REFILE-UPDATE 1-German chauffeur service Blacklane plans IPO within 3 years
Author: Ritters US Newsfeed
China electric car firm Faraday Future says obtains $225 mln in bridge financing
SHANGHAI, April 30 (Reuters) – Chinese electric vehicle developer Faraday Future said on Tuesday that it had obtained up to $225 million in bridge financing from a U.S. merchant bank to allow it to complete the development of its flagship FF91 model. Faraday, which has ambitions to overtake Tesla Inc, said in November that it… Continue reading China electric car firm Faraday Future says obtains $225 mln in bridge financing
Samsung Electronics first-quarter profit falls 60% on-year as weak chip prices bite
FILE PHOTO: Attendees at Samsung Electronics Co Ltd’s Unpacked event test out the company’s new devices in San Francisco, California, U.S., February 20, 2019 REUTERS/Stephen Nellis SEOUL (Reuters) – Samsung Electronics Co Ltd posted a 60 percent drop in first-quarter operating profit on Tuesday, hit by falls in chip prices and slowing demand for display… Continue reading Samsung Electronics first-quarter profit falls 60% on-year as weak chip prices bite
Trump pressed Japan’s Abe to build more vehicles in the U.S.
U.S. President Donald Trump meets with Japan’s Prime Minister Shinzo Abe in the Oval Office at the White House in Washington, U.S., April 26, 2019. REUTERS/Kevin Lamarque WASHINGTON (Reuters) – U.S. President Donald Trump pressed Japanese Prime Minister Shinzo Abe to have Japanese automakers produce more vehicles in the United States, according to a readout… Continue reading Trump pressed Japan’s Abe to build more vehicles in the U.S.
Renault to propose joint holding company with Nissan: source
TOKYO (Reuters) – Renault will propose a plan to create a joint holding company that would give the French carmaker and Japanese partner Nissan equal footing, a person with knowledge of the issue told Reuters. FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front of a common dealership of the… Continue reading Renault to propose joint holding company with Nissan: source
UPDATE 2-Tesla’s Musk agrees to new vetting rules for tweets in SEC deal
NEW YORK (Reuters) – Tesla Inc Chief Executive Elon Musk has reached a deal with the U.S. Securities and Exchange Commission to settle a dispute over his use of Twitter, agreeing to submit his public statements about the company’s finances and other topics to vetting by its legal counsel, according to a court filing on… Continue reading UPDATE 2-Tesla’s Musk agrees to new vetting rules for tweets in SEC deal
UPDATE 1-Toyota abandons plan to install U.S connected vehicle tech by 2021
WASHINGTON (Reuters) – Toyota Motor Corp said on Friday it was halting plans to install Dedicated Short-Range Communications technology on U.S. vehicles aimed at letting cars and trucks communicate with one another to avoid collisions. FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019.… Continue reading UPDATE 1-Toyota abandons plan to install U.S connected vehicle tech by 2021
Toyota abandons plan to install U.S connected vehicle tech by 2021
WASHINGTON (Reuters) – Toyota Motor Corp said on Friday it was halting plans to install Dedicated Short-Range Communications technology on U.S. vehicles aimed at letting cars and trucks communicate with one another to avoid collisions. FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019.… Continue reading Toyota abandons plan to install U.S connected vehicle tech by 2021
UPDATE 1-Tesla’s Elon Musk reaches deal with SEC over Twitter use
NEW YORK (Reuters) – Tesla Inc Chief Executive Elon Musk has reached a deal with the U.S. Securities and Exchange Commission to settle a dispute over Musk’s use of Twitter, according to a court filing on Friday. FILE PHOTO: Tesla Inc. CEO Elon Musk (C) exits after attending a S.E.C. hearing at the Manhattan Federal… Continue reading UPDATE 1-Tesla’s Elon Musk reaches deal with SEC over Twitter use
Uber unveils IPO terms that temper expectations
(Reuters) – Uber Technologies Inc, the world’s largest ride-hailing company, plans an initial public offering that values the company lower than the startup’s insiders had hoped, between $80.5 billion and $91.5 billion. The valuation, outlined in a regulatory filing on Friday, is less than the $120 billion that investment bankers told Uber last year it… Continue reading Uber unveils IPO terms that temper expectations