Tesla Inc.’s engineering chief is taking a break from the company, weeks after Elon Musk took over production responsibilities during the rocky ramping up of the Model 3 sedan. Doug Field, a senior vice president, is taking time off to recharge and spend time with his family and hasn’t left the company, a spokesman said… Continue reading Tesla Engineering Chief Takes Break After Musk Displaces Him
Author: Bingborg Newsfeed
Volvo Cars Picks Citi, Goldman, Morgan Stanley on IPO
Volvo Cars owner Zhejiang Geely Holding Group Co. has selected Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley to advise on an initial public offering for the Swedish carmaker this year, according to people with knowledge of the matter. China’s Zhejiang Geely and Volvo have discussed valuing the Swedish automaker in a range of… Continue reading Volvo Cars Picks Citi, Goldman, Morgan Stanley on IPO
A Look at Uber’s Flying Car Dream
Karem Aircraft Inc., founded by the inventor of the predator drone, said Tuesday that it’s developing a flying vehicle for Uber Technologies Inc.’s envisioned network of electric air taxis. That makes Karem the fifth company working on the project, with its new aircraft called the Butterfly. While Uber isn’t building its own flying cars, the company… Continue reading A Look at Uber’s Flying Car Dream
Tesla Gets a Vote of Confidence as Supplier Orders Accelerate
The Tesla Model 3 debate received further fodder on Tuesday after JL Warren Capital LLC said it has noticed “encouraging signs” of a potential pickup in the pace of production. Suppliers for the electric vehicle maker’s more affordable sedan have started seeing increased orders, the research firm said in a note to clients. SAS Automotive,… Continue reading Tesla Gets a Vote of Confidence as Supplier Orders Accelerate
Flying Cars Get Uber Boost From Research Pact With NASA
Uber Technologies Inc. announced a partnership to study urban manned aircraft in conjunction with the U.S. space agency NASA, following a partnership last year that focused on unmanned drones. As part of the deal, Uber will share its data with the National Aeronautics and Space Administration to move the world closer to developing air traffic… Continue reading Flying Cars Get Uber Boost From Research Pact With NASA
Audi Targets $1.2 Billion Profit Boost From Car-Data Services
Audi is gearing up to boost profit outside its traditional business of producing and selling upscale cars in a push against Silicon Valley’s software giants that are keen to mine potentially lucrative vehicle data. The world’s third-largest luxury-car brand expects to generate operating profit of 1 billion euros ($1.2 billion) in 2025, the Volkswagen AG… Continue reading Audi Targets $1.2 Billion Profit Boost From Car-Data Services
Nissan Will Stop Diesel Car Sales In Europe
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Toyota Plans $1.1 Billion Expansion at Canadian Plant
Toyota Motor Corp. is set to announce a C$1.4 billion ($1.1 billion) expansion of its Canadian operations to build the RAV4 sport utility vehicle, a bet on the nation’s manufacturing amid a cloud of uncertainty from ongoing Nafta talks. The Japanese automaker is slated to make an announcement Friday afternoon at its facility in Cambridge,… Continue reading Toyota Plans $1.1 Billion Expansion at Canadian Plant
Diesel Sheds Pariah Status to Become One of Hottest Energy Plays
After spearheading oil’s rally last summer, diesel markets have gotten even tighter. The cold winter in the U.S., strong global economic growth and refineries increasingly processing lighter crude oil have all contributed to the steady draw-down of diesel stockpiles the world over. All of that, along with the longer-term fillip of new shipping regulations, is… Continue reading Diesel Sheds Pariah Status to Become One of Hottest Energy Plays
Ex-VW CEO Winterkorn Charged by U.S. in Diesel-Cheating Case
Volkswagen AG’s former Chief Executive Officer Martin Winterkorn was charged in a Michigan federal court with conspiracy and wire fraud in relation to a probe into the German automaker’s efforts to cheat U.S. diesel emissions testing, according to an indictment unsealed Thursday. Winterkorn, who stepped down from his role as CEO days after the scandal… Continue reading Ex-VW CEO Winterkorn Charged by U.S. in Diesel-Cheating Case