BEIJING (Reuters) – Some automakers in China are alarmed by proposed government restrictions on investing in new manufacturing capacity and the ways in which Beijing is trying to trigger consolidation of the country’s flabby auto industry through mergers and strategic cooperation. FILE PHOTO: Traffic congestion is pictured in Shanghai, China, April 19, 2017. REUTERS/Joe White/File… Continue reading Automakers fret as China clamps down on capacity, seeks consolidation
Author: Ritters US Newsfeed
Electric Mercedes opens German assault on Tesla
STOCKHOLM/PARIS (Reuters) – Mercedes-Benz is set to unveil its much-anticipated electric SUV on Tuesday, marking the start of a German onslaught against Tesla’s (TSLA.O) dominance of the fast-growing market for premium battery cars. FILE PHOTO: A Tesla Model S electric car is seen at its dealership in Seoul, South Korea July 6, 2017. REUTERS/Kim Hong-Ji/File… Continue reading Electric Mercedes opens German assault on Tesla
VW emissions manipulation also extended to petrol cars – Bild am Sonntag
FRANKFURT (Reuters) – Volkswagen (VOWG.DE) engineers have told investigators that certain petrol engines in VW, Audi and Porsche vehicles can be used to manipulate emissions tests, Sunday paper Bild am Sonntag said. FILE PHOTO: A Volkswagen logo is pictured at Volkswagen’s headquarters in Wolfsburg, Germany, April 22, 2016. REUTERS/Hannibal Hanschke/File Photo A spokesman for Volkswagen… Continue reading VW emissions manipulation also extended to petrol cars – Bild am Sonntag
UPDATE 1-Apple self-driving car in accident – California DMV filing
(Reuters) – An Apple Inc (AAPL.O) self-driving car was involved in an accident in California, the technology company said in a filing to the state’s Department of Motor Vehicles that confirmed speculation that it has begun testing such vehicles on the road. FILE PHOTO: The company’s logo is seen outside Austria’s first Apple store, which… Continue reading UPDATE 1-Apple self-driving car in accident – California DMV filing
UPDATE 3-Aston Martin plans to go public as turnaround picks up speed
LONDON (Reuters) – Luxury carmaker Aston Martin plans to float on the London Stock Exchange, completing a turnaround for the once perennially loss-making company that could now be valued at up to 5 billion pounds ($6.4 billion). FILE PHOTO: A company logo is seen on the new Aston Martin Vantage car at a media event… Continue reading UPDATE 3-Aston Martin plans to go public as turnaround picks up speed
China’s Geely building new plant to make 250,000 bigger-sized cars: sources
BEIJING (Reuters) – China’s Geely is building a new plant to produce a quarter of a million bigger-sized cars that will help meet a goal of selling more than 2 million vehicles by 2020 and power its growth, two people familiar with the matter said. FILE PHOTO: A building of the Geely Auto Research Institute… Continue reading China’s Geely building new plant to make 250,000 bigger-sized cars: sources
UPDATE 1-Chinese EV maker Nio expects to raise $1.32 bln in IPO
(Reuters) – Chinese electric vehicle start-up Nio Inc [NIO.N], backed by Chinese tech heavyweight Tencent Holdings Ltd (0700.HK), on Tuesday said it expects to raise up to $1.32 billion in its initial public offering. The logo of electric car startup NIO is seen at a new NIO House “brand-experience” store, in Beijing, China November 25,… Continue reading UPDATE 1-Chinese EV maker Nio expects to raise $1.32 bln in IPO
Four Toyota group firms to form JV for self-driving tech: Nikkei
TOKYO (Reuters) – Four Toyota Motor Corp (7203.T) group firms will form a joint venture to combine their self-driving technologies to better compete with automotive component giants such as Bosch Group [ROBG.UL], the Nikkei business daily reported on Friday. A Toyota Motor Corp logo is pictured in a showroom in Tokyo June 24, 2010. REUTERS/Yuriko… Continue reading Four Toyota group firms to form JV for self-driving tech: Nikkei
UPDATE 1-Waymo sets up subsidiary in Shanghai as Google plans China push
BEIJING/SHANGHAI (Reuters) – Alphabet Inc’s (GOOGL.O) self-driving unit Waymo has set up a subsidiary in Shanghai, according to a business registration filing, the latest sign that the U.S. internet giant is attempting to make new inroads into China. FILE PHOTO: Waymo unveils a self-driving Chrysler Pacifica minivan during the North American International Auto Show in… Continue reading UPDATE 1-Waymo sets up subsidiary in Shanghai as Google plans China push
Fire contained at Tesla’s car production factory in California
(Reuters) – A minor fire on the grounds of the Tesla Inc factory in California on Thursday evening was contained by the Fremont fire department, a Tesla spokesperson told Reuters. FILE PHOTO – Cars pass by the Tesla Inc. Gigafactory 2, which is also known as RiverBend, a joint venture with Panasonic to produce solar… Continue reading Fire contained at Tesla’s car production factory in California