New Delhi: The Toyota-Suz uki alliance is readying a host of electric and hybrid vehicles for the Indian market as the government places a strong emphasis on cleaner and greener mobility solutions to address the rising pollution challenge and fuel import bill. As part of the plan, four electrified models are likely to be ready… Continue reading Toyota-Suzuki revs up plan to roll out hybrid, electric vehicles in India
Author: Economic Times of India Online News
China’s Didi Chuxing may back Oyo
“Didi and WeWork are routing their investments through Oyo Global (the India business) but it is primarily for China.” MUMBAI: China’s Didi Chuxing is expected to invest in Oyo Rooms, in what would be the ride-hailing giant’s second bet on an Indian startup, after Ola, two people familiar with the matter said. The proposed investment… Continue reading China’s Didi Chuxing may back Oyo
BMW’s South Korea headquarters raided by police
Over 40 BMW models, all with diesel engines and built between March 2011 and November 2016, are affected. Seoul: South Korean police on Thursday raided the headquarters of BMW as part of an investigation into whether the German carmaker covered up defects that had led to a series of engine fires. A team of 30… Continue reading BMW’s South Korea headquarters raided by police
Volkswagen CEO received memorandum about emissions cheating fallout – NDR
FRANKFURT: Volkswagen Chief Executive Herbert Diess was given a memorandum warning the carmaker might face legal action in the U.S. over the use of cheating software in cars just days before the scandal broke, a public broadcaster reported on Friday. A former Volkswagen employee told the Braunschweig public prosecutor’s office that he wrote a so-called… Continue reading Volkswagen CEO received memorandum about emissions cheating fallout – NDR
Two Chinese EV sharing platforms in $730 mln push to fuel growth – sources
By Kane Wu and Julie Zhu HONG KONG: Two electric vehicle-sharing platforms backed by powerful Chinese carmakers plan to seek external funding totalling almost $730 million to fuel their growth, people with direct knowledge of the plans said. The moves come as Beijing continues its push into the new energy vehicle (NEV) sector as part… Continue reading Two Chinese EV sharing platforms in $730 mln push to fuel growth – sources
Didi seeks $1.5 bln car services spinoff ahead of likely IPO -sources
HONG KONG: Chinese ride-hailing giant Didi Chuxing Technology Co Ltd is looking to spin off its car services unit in a deal worth up to $1.5 billion, ahead of its expected initial public offering (IPO), people with direct knowledge of the matter said. While Didi has never confirmed its plans for an initial public offering,… Continue reading Didi seeks $1.5 bln car services spinoff ahead of likely IPO -sources
German city of Stuttgart seeks to avert Euro-5 diesel ban
FRANKFURT: The German city of Stuttgart will bar only the most polluting diesel vehicles from its streets next year and will seek to avoid a widening of the ban by taking measures to improve air quality, a state ministry said. Stuttgart, the heartland of Germany’s automotive industry, plans to start banning diesel vehicles meeting the… Continue reading German city of Stuttgart seeks to avert Euro-5 diesel ban
In a 1st, Tata Motors picks up 26% in startup TruckEasy
MUMBAI: Tata Motors, the flagship of the $100-billion Tata Group, has picked up 26% in freight aggregator TruckEasy, marking its first stake-purchase in a domestic startup. The transaction, for which the investment amount wasn’t disclosed, gives Tata Motors two seats on the board of the three-year-old, Bengaluru-based TruckEasy. Tata Motors’ bet on TruckEasy could boost… Continue reading In a 1st, Tata Motors picks up 26% in startup TruckEasy
Opel workers reject possible sale of R&D business
“A sale of Opel’s development would rob Opel of its future.” Germany: Opel‘s labour representatives said they would fight any plans to sell all or parts of the carmaker‘s research and development business, following a media report that parent PSA Group and Opel had already sounded out possible buyers. “A sale of Opel’s development would… Continue reading Opel workers reject possible sale of R&D business
Brexit halves new investment in British car industry, auto industry lobby says
LONDON – Uncertainty over Brexit has halved new investment in the British car industry as Prime Minister Theresa May‘s government current plans for trade after Britain leaves the EU are unrealistic, the biggest car manufacturing lobby said on Tuesday. Public announcements of fresh investments into new plant, machinery, tooling and equipment, models and model development… Continue reading Brexit halves new investment in British car industry, auto industry lobby says