Author: Ritters US Newsfeed

Tesla to be profitable in third-quarter, fourth-quarter: Musk tweets

(Reuters) – Silicon valley billionaire Elon Musk said on Friday his Tesla Inc (TSLA.O) company will not need to raise any money this year because the electric car maker will have positive cash flow and be profitable in the third and fourth quarter. FILE PHOTO: A Tesla dealership is seen in West Drayton, just outside… Continue reading Tesla to be profitable in third-quarter, fourth-quarter: Musk tweets

VW appoints Herbert Diess as CEO, creates new divisions

BERLIN (Reuters) – Volkswagen (VOWG_p.DE) said Herbert Diess will take over from Matthias Mueller as chief executive, adding fresh impetus to its efforts to slim down and reorganize the way its 12 brands are managed. FILE PHOTO: Herbert Diess from the Volkswagen Group presents the new I.D. Vizzion car model during an event at the… Continue reading VW appoints Herbert Diess as CEO, creates new divisions

UPDATE 1-Audi CEO Stadler to keep post, brand may be excluded from VW overhaul -source

* VW to split management into subgroups – source * VW, Skoda, Seat to belong to volume brand group – source * Porsche, Bentley, Bugatti to form super premium group – source * Audi to remain an independent premium group – source * VW Trucks to form another group – source (Adds detail on new… Continue reading UPDATE 1-Audi CEO Stadler to keep post, brand may be excluded from VW overhaul -source

EVgo to build fast charging network for GM’s Maven unit

(Reuters) – Electric vehicle charging station provider EVgo said on Thursday it would build a dedicated direct current fast charging network for General Motor Co’s Maven car sharing and rental unit. EVgo said the new network will add hundreds of charging stations across the United States in markets where Maven operates. Last year, Maven’s executives… Continue reading EVgo to build fast charging network for GM’s Maven unit

Exclusive: Tesla targets November 2019 for start of Model Y production – sources

SAN FRANCISCO (Reuters) – Tesla Inc (TSLA.O) is targeting November 2019 as the start of production for its Model Y sport utility vehicle, with production in China to begin two years later, two sources told Reuters this week, shedding some light on the electric vehicle maker’s next project that could tax its resources and capacity.… Continue reading Exclusive: Tesla targets November 2019 for start of Model Y production – sources

UPDATE 1-Uber still believes autonomous vehicles have a future, says CEO

WASHINGTON (Reuters) – Uber Chief Executive Dara Khosrowshahi said on Wednesday that the ride-sharing company still believes in the prospects for autonomous transport after one of its self-driving vehicles was involved in a fatal crash in Arizona last month. FILE PHOTO – Dara Khosrowshahi, Chief Executive Officer of Uber Technologies, attends the World Economic Forum… Continue reading UPDATE 1-Uber still believes autonomous vehicles have a future, says CEO

Fiat Chrysler, U.S. Justice Dept in diesel emissions settlement talks

(Reuters) – Fiat Chrysler Automobiles NV is in advanced settlement talks with the U.S. Justice Department and California Air Resources Board over accusations that the company illegally used software that led to excess emissions in 104,000 U.S. diesel vehicles sold since 2014, a court-appointed adviser said at a hearing on Tuesday. FILE PHOTO: A woman… Continue reading Fiat Chrysler, U.S. Justice Dept in diesel emissions settlement talks

Icahn to sell Federal-Mogul to Tenneco for $5.4 billion

(Reuters) – Activist investor Carl Icahn said on Tuesday he was selling auto parts maker Federal-Mogul to Tenneco Inc (TEN.N) in a $5.4 billion deal, unloading an investment he has held for nearly two decades and picking up a new stake in Tenneco. Tenneco plans to separate into two independent, publicly traded companies – one… Continue reading Icahn to sell Federal-Mogul to Tenneco for $5.4 billion