Last month in April, the strike went on for nine days but ended when companies agreed to some of their demands and promised to reconsider others. JAIPUR: The app based taxi drivers of OLA and Uber companies are going on a hunger strike from Friday against the high rates of commission charged by their respective… Continue reading OLA, Uber drivers on hunger strike from today
Author: Economic Times of India Online News
BMW targets group pre-tax margins of more than 10%
FRANKFURT: Germany’s BMW will target a group pre-tax profit of more than 10 billion euros ($11.9 billion) this year, finance chief Nicolas Peter told newspaper Handelsblatt on Tuesday, as the carmaker seeks to achieve double-digit margins in the long run. “We are striving to keep group pre-tax profit (margins) sustainably above 10 percent,” Peter said… Continue reading BMW targets group pre-tax margins of more than 10%
Fiat Chrysler CEO says company may ‘redirect’ Mexican auto exports
The revised agreement would not threaten the automaker’s Mexican production, he said. WASHINGTON: Fiat Chrysler Automobiles chief executive Sergio Marchionne said on Friday proposed changes to automotive rules by the US government may prompt the Italian-American automaker to shift exports of the company’s Mexican-made vehicles. Marchionne told Reuters that changes planned for automotive rules under… Continue reading Fiat Chrysler CEO says company may ‘redirect’ Mexican auto exports
ElringKlinger to supply battery systems for Sono Motors’ solar car
Some of the city of Pittsburgh’s fleet of electrical vehicles are parked under solar charging panels before a news conference announcing the facility debut, Wednesday, April 18, 2018, in Pittsburgh. The press release from the city says that they currently have four electric vehicles and later this year they will receive six more cars that… Continue reading ElringKlinger to supply battery systems for Sono Motors’ solar car
Mitsubishi Motors sees annual profit rising on Asia sales
Its operating profit was 98.2 billion yen in the year just ended, meeting market forecasts and surging roughly 20-fold from the previous year. TOKYO: Mitsubishi Motors Corp on Wednesday forecast a 12 percent rise in operating profit for the current financial year, as it expects increasing vehicle sales in Asia to help boost its bottom… Continue reading Mitsubishi Motors sees annual profit rising on Asia sales
Jaguar Land Rover retail sales up 11.9% to 45,180 units in April
Retail sales for April were up significantly year-on-year in China (28.9 per cent), the UK (25.9 per cent), overseas markets (21.3 per cent) and North America (2.5 per cent) but down in Europe (-10.2 per cent), with continuing uncertainty over diesel in the UK and Europe. Whitley, UK: Jaguar Land Rover on Wednesday reported total… Continue reading Jaguar Land Rover retail sales up 11.9% to 45,180 units in April
Terra Motors raises 10 million dollar fund to expand in Asian market
New Delhi: Japan-based Terra Motors an electric vehicle start-up company on Monday announced that it has secured $10 million from foreign investors including Fenox Venture capital (US) which is one of the famous Silicon Valley based venture capital, and other Japanese bank affiliated venture capital investors to accelerate their global expansion. Commenting on global expansion… Continue reading Terra Motors raises 10 million dollar fund to expand in Asian market
Tata Motors to sell defence, aerospace business to Tata Advanced Systems
New Delhi: Home-grown auto major Tata Motors today said it will sell its defense business to group entity Tata Advanced Systems Ltd (TASL), subject to requisite approvals. The deal will not include the pure civilian vehicles which will continue to be with Tata Motors, the company said in a statement. The Board of Tata Motors… Continue reading Tata Motors to sell defence, aerospace business to Tata Advanced Systems
Daimler to buy electric car battery cells from China’s CATL
Daimler reiterated it had joined the Responsible Cobalt Initiative, a programme established under a Chinese industry body to tackle risks in the cobalt supply chain arising from artisanal mining. STUTTGART, Germany: Daimler has awarded a contract for supplying electric car battery cells to China’s Contemporary Amperex Technology (CATL), the German carmaker’s procurement executive, Sabine Angermann,… Continue reading Daimler to buy electric car battery cells from China’s CATL
Fitch affirms Tata Motors at BB+; outlook stable
TML‘s sales volume grew by 9% yoy in medium and heavy commercial vehicles and 23% in light commercial vehicles in FY18. New Delhi: Tata Motors (TML’s) rating, which includes a one-notch uplift from its standalone rating of ‘BB’ on its linkage with Tata Sons (TSOL), reflects its position in the Indian commercial-vehicle market and the… Continue reading Fitch affirms Tata Motors at BB+; outlook stable