NEW DELHI: The approval of Rs 10,000 Faster Adoption and Manufacturing of Electric & Hybrid Vehicles (FAME II) has brought excitement and cheer all around the automotive industry. The much awaited scheme to promote electric and hybrid vehicles has been welcomed as major push towards scalability of green mobility in the country. The Society of… Continue reading Thank You Government, says Auto Industry after FAME-II approval
Author: Economic Times of India Online News
Martin Eberhard calls Tesla his ‘baby’, talks about being ousted from company’s board
Eberhard believes the time is ripe for technology disruption. What if someone else gets credit for your company? Ask Tesla co-founder Martin Eberhard. Martin Eberhard, who founded Tesla in the early 2000s before he was ousted from the board, is still steadfast on the efficacy of electric vehicles. “I didn’t start as an electric car… Continue reading Martin Eberhard calls Tesla his ‘baby’, talks about being ousted from company’s board
VW shuffles management responsibilities at core brand
VW brand’s chief operating officer Ralf Brandstaetter will take over responsibility for quality assurance and value engineering. FRANKFURT: Volkswagen shuffled management responsibilities at its core brand on Monday, freeing up Group CEO Herbert Diess to oversee the carmaker’s radical strategy to mass produce electric cars. The German multi-brand car and truck making giant, which also… Continue reading VW shuffles management responsibilities at core brand
Brazil governor to help Ford Motor Co. find a factory buyer
Ford announced earlier this year its plan to shut down its plant in the Sao Paulo. SAO PAULO: The government of Sao Paulo says that the state’s governor has committed himself to helping Ford Motor Co. find a buyer for its truck and small car plant. The Brazilian plant is expected to close down later… Continue reading Brazil governor to help Ford Motor Co. find a factory buyer
VW’s Audi to cut 10 percent of management positions: CEO
Audi aims to reduce the number of engine types by one third. FRANKFURT: Volkswagen‘s premium auto brand Audi plans to eliminate one layer of management or about 10 percent of the division’s executive positions in a cost cutting drive, the unit’s chief executive told daily Handelsblatt. “One thing is clear, our cost base is too… Continue reading VW’s Audi to cut 10 percent of management positions: CEO
China ride-hailing giant Didi to lay off 15% employees this year: Source
Didi Chuxing will lay off 15% of its staff or about 2,000 people this year, a source said, marking the ride-hailing firm’s first major cut back as it grapples with regulatory scrutiny and public backlash over the murder of two of its users. Didi CEO Cheng Wei said at a meeting with management that the… Continue reading China ride-hailing giant Didi to lay off 15% employees this year: Source
China’s BAIC Motor slips on profit-booking
China car sales dropped 13 per cent in December. Shares in BAIC Motor Corp Ltd slip about 1 per cent, after gaining as much as 3.2 per cent earlier in the session, as investors locked in profit following the passenger vehicle maker’s 2018 profit estimate. As of previous close, stock surged 22.74 per cent so… Continue reading China’s BAIC Motor slips on profit-booking
France’s Macron unveils plan to give electric battery industry a jolt
P While some carmakers assemble battery packs, Europe has no significant production of their constituent cells. ARIS: France will invest 700 million euros ($790 million) over the next five years into projects to boost the European electric car battery industry and reduce its carmakers’ reliance on dominant Asian rivals, President Emmanuel Macron said on Wednesday.… Continue reading France’s Macron unveils plan to give electric battery industry a jolt
China’s NavInfo jumps to 5-month high on BMW tie-up
The deal fully reflects its leading industry position in the area. Shares in digital map provider NavInfo Co jump as much as 10 pct to their highest since Sept 7, 2018, as the company joins hands with BMW. Stock is up for 4th straight session, posts biggest intraday pct gain since mid-Aug. It has gained… Continue reading China’s NavInfo jumps to 5-month high on BMW tie-up
Ford joins HIA to offer shared mobility to techies
The buses will cater to about two dozen destinations across eight routes to begin with and offer Wi-Fi to commuters. PUNE: Carmaker Ford India’s smart mobility arm has introduced its shared mobility solution in the city in partnership with the Hinjewadi IT Association (HIA). The app-based bus service called “office ride” will operate within the… Continue reading Ford joins HIA to offer shared mobility to techies