FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) will invest 3.5 billion euros ($4 billion) by 2025 to build digital businesses and products including a cloud computing-based platform to connect vehicles and customers to offer services such as car sharing. FILE PHOTO: The backlight of an e-Golf electric car is pictured at the new production line of the… Continue reading Volkswagen to invest $4 billion to build digital businesses, software
Author: Ritters US Newsfeed
Car-sharing startup Getaround raises $300 mln in funding led by SoftBank
(Reuters) – Car-sharing startup Getaround Inc has raised about $300 million in the latest funding round led by Japan’s SoftBank Group Corp, the San Francisco-based firm said on Tuesday. Toyota Motor Corp and some other existing investors were also part of the Series D funding round, Getaround said. The company, founded in 2013, has been… Continue reading Car-sharing startup Getaround raises $300 mln in funding led by SoftBank
UPDATE 1-Nissan to boost China production capacity by 40 pct, source says
BEIJING (Reuters) – Japan’s Nissan Motor Co (7201.T) plans to invest about $900 million to boost vehicle-making capacity in China by 40 percent by 2021 – part of a 60 billion yuan ($8.73 billion) strategy to become a top three player in the world’s largest auto market. A car with the Nissan logo badge is… Continue reading UPDATE 1-Nissan to boost China production capacity by 40 pct, source says
VW’s CEO was told about emissions software months before scandal: Der Spiegel
FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said. Herbert Diess, Volkswagen’s new CEO, speaks during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3,… Continue reading VW’s CEO was told about emissions software months before scandal: Der Spiegel
UPDATE 1-SEC pressing Tesla directors for details on communications with Musk – WSJ
(Reuters) – Federal regulators are pressing Tesla Inc’s (TSLA.O) directors for details on how much information Chief Executive Elon Musk shared with them before he tweeted last week about a potential deal to take the company private, the Wall Street Journal reported on Thursday, citing a person familiar with the matter. FILE PHOTO: Tesla Motors… Continue reading UPDATE 1-SEC pressing Tesla directors for details on communications with Musk – WSJ
SEC pressing Tesla directors for details on communications with Musk: Wall Street Journal
(Reuters) – Federal regulators are pressing Tesla Inc’s (TSLA.O) directors for details on how much information Chief Executive Elon Musk shared with them before he tweeted last week about a potential deal to take the company private, the Wall Street Journal reported on Thursday, citing a person familiar with the matter. FILE PHOTO: Tesla Motors… Continue reading SEC pressing Tesla directors for details on communications with Musk: Wall Street Journal
Tesla on track to make 8,000 Model 3s per week, Evercore says
(Reuters) – Tesla Inc (TSLA.O) is on its way to make 8,000 Model 3 cars per week even as it burns more cash, Evercore analysts wrote in a note on Thursday, following their visit to the electric-car maker’s California facility. FILE PHOTO: A Tesla sales and service center is shown in Costa Mesa, California, U.S.,… Continue reading Tesla on track to make 8,000 Model 3s per week, Evercore says
Exclusive: In Chinese port city, Japan’s Toyota lays foundation to ramp up sales
BEIJING (Reuters) – Toyota Motor Corp is likely to make 120,000 more cars a year in the Chinese port city of Tianjin as part of a medium-term strategy that’s gathering pace as China-Japan ties improve, said four company insiders with knowledge of the matter. FILE PHOTO: An employee walks past as he checks on newly-produced… Continue reading Exclusive: In Chinese port city, Japan’s Toyota lays foundation to ramp up sales
Uber told by investors to sell self-driving unit: The Information
(Reuters) – Investors have told Uber Technologies Inc [UBER.UL] it would be wise to sell off its self-driving car unit after it racked up losses of $125 million to $200 million each quarter for the past 18 months, tech news site The Information reported on Wednesday, citing an unnamed person familiar with the issue. The… Continue reading Uber told by investors to sell self-driving unit: The Information
Ford recalls 3,968 cars over clutch pressure plate issue: regulator
MOSCOW (Reuters) – Russia’s standards agency said on Tuesday it had been informed about the recall of 3,968 Ford (F.N) cars sold between 2011 and 2016. The Ford logo is seen at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapleton The cars,… Continue reading Ford recalls 3,968 cars over clutch pressure plate issue: regulator