It is understood that SM Group pulled out of a bid on the premise that SsangYong was not ready to become a full EV company in the near future. Cash strapped Korean automaker, SsangYong Motors which is on the lookout for a potential investor has received only three final bids for a stake sale. This… Continue reading SsangYong receives three bids for stake sale, looks to get investor on board by November
Author: Economic Times of India Online News
Ford, Walmart and Argo AI team up to launch autonomous vehicle delivery service
The autonomous vehicle delivery service will be available in Miami, Austin, and Washington, D.C. Self-driving startup Argo AI, automaker Ford Motor Co and Walmart Inc will together launch an autonomous vehicle delivery service in Miami, Austin, and Washington, D.C, the companies said on Wednesday. Initial integration testing is expected to begin later this year, the… Continue reading Ford, Walmart and Argo AI team up to launch autonomous vehicle delivery service
Apple supplier Foxconn halts EV project with China’s Byton
Foxconn’s plans to build factories in the United States and Thailand to assemble entire vehicles in 2023 are intact. Bengaluru: Apple supplier Foxconn‘s electric vehicle project with Byton has been put on hold due to the Chinese startup’s worsening financial situation, the Nikkei newspaper reported on Wednesday citing unidentified sources with knowledge of the matter.… Continue reading Apple supplier Foxconn halts EV project with China’s Byton
South Korea’s LGES, Hyundai Motor start work on Indonesian EV battery plant
Hyundai Motor Group and LGES expect to develop in Indonesia a battery industry, as well as assembly plants for EVs and recharging infrastructure. South Korea’s LG Energy Solution (LGES) and Hyundai Motor Group have started construction on a $1.1 billion plant to make batteries for electric vehicles (EVs) in Indonesia, amid a push by the… Continue reading South Korea’s LGES, Hyundai Motor start work on Indonesian EV battery plant
GM extends Michigan plant shutdown over Bolt EV recall
GM said it will not resume Bolt production or sales until it is satisfied that the recall remedy will address the fire risk issue. WASHINGTON: General Motors Co said on Thursday it will extend a shutdown of a Michigan assembly plant by two weeks in the aftermath of a new recall of its Chevrolet Bolt… Continue reading GM extends Michigan plant shutdown over Bolt EV recall
Stellantis joint venture with China’s GAC to close one of two plants
The Changsha factory has capacity to make 164,000 vehicles a year, still far more than the venture sells. BEIJING – Stellantis NV’s Chinese venture with GAC will close one of its two factories in China by next March, GAC told Reuters, as Stellantis restructures operations in the world’s biggest auto market where it has struggled… Continue reading Stellantis joint venture with China’s GAC to close one of two plants
Intel says it will reserve Ireland chip factory capacity for automakers
Intel said that several automakers – including BMW AG, Volkswagen AG, Daimler AG and Bosch – had expressed support for its programs. By Stephen Nellis Intel Corp on Tuesday said that it will reserve factory capacity at its semiconductor plant in Ireland for automakers and has created a program to help them transition to making… Continue reading Intel says it will reserve Ireland chip factory capacity for automakers
Volkswagen brand sticks to margin target despite chip crunch
The Volkswagen brand expects an operating margin of 3-4% for 2021. “It stays that way,” Ralf Brandstaetter told Reuters at the IAA Munich car show, also confirming the 6% margin goal set for 2023. MUNICH: Volkswagen‘s namesake brand on Monday confirmed its margin target, the division’s chief executive said, shrugging off the impact from a… Continue reading Volkswagen brand sticks to margin target despite chip crunch
Japanese automakers’ China car sales tumbled in August
A prolonged global chip shortage has caught major automakers including Ford Motor, General Motors and Volkswagen off guard, forcing many to idle or curtail production. BEIJING: Japanese automakers Honda Motor , Nissan Motor and Toyota Motor saw their sales in China tumble in August as a chip shortage hit vehicle production in the world’s biggest… Continue reading Japanese automakers’ China car sales tumbled in August
Auto shows are back and automakers have wheeling-and-dealing to do
When automotive chieftains collect in Munich this week for Europe’s first main automotive present in two years, they’ll do extra than simply raise the veil on shiny sheet steel. These are events the place large offers have a tendency to get achieved. Consider one of many final occasions the auto world descended on a European… Continue reading Auto shows are back and automakers have wheeling-and-dealing to do