“Our passion to create better future is part of our DNA. We know this is a very ambitious goal. But that’s exactly what our founding fathers did. And it’s time to do it again.” New Delhi: German vehicle manufacturer Daimler is aiming to achieve a sustainable return on sales of 9 per cent in its… Continue reading Daimler eyes 9% return on sales across global markets
Author: Economic Times of India Online News
Meituan deal sets pace in Chinese bicycle-sharing
By Pete Sweeney HONG KONG: Meituan-Dianping is setting a new pace in Chinese bicycle-sharing. The multipurpose online service app agreed on Wednesday to buy Mobike for $2.7 billion. Given the competitive and cash-burning realities, its stakeholders should be relieved at the sale. For rival Ofo, and backers Alibaba and Didi Chuxing, the riding gets tougher.… Continue reading Meituan deal sets pace in Chinese bicycle-sharing
Ford CEO Jim Hackett earned $16.3 million as profit dropped
Hackett was abruptly named as CEO in response to investors’ growing unease about the US automaker’s slumping stock price and its ability to counter threats from longtime automotive rivals and upstarts in Silicon Valley. DETROIT: Ford Motor Co Chief Executive Officer Jim Hackett earned salary, bonus and stock awards of $16.3 million in 2017, while… Continue reading Ford CEO Jim Hackett earned $16.3 million as profit dropped
Daimler-BMW mobility venture aims to be global player – Daimler CFO
STUTTGART: Daimler and BMW‘s new joint mobility services division aims to become a global player through both organic growth and acquisitions, Daimler Chief Financial Officer Bodo Uebber said on Thursday. “We want to grow significantly and we are in a position to handle large acquisitions,” Uebber said. The two leading German luxury carmakers unveiled plans… Continue reading Daimler-BMW mobility venture aims to be global player – Daimler CFO
Alibaba, Ford unveil car vending machine in Guangzhou
The Super Test-Drive Center is offering over 100 Ford cars for the Chinese consumers. New Delhi: Chinese e-commerce giant Alibaba Group and US carmaker Ford have unveiled car vending machine in China’s southern city Guangzhou. The Super Test-Drive Center is offering over 100 Ford cars for the Chinese consumers. Alibaba also planning to build similar… Continue reading Alibaba, Ford unveil car vending machine in Guangzhou
Hyundai union chief warns of job crisis, says electric cars are ‘evil’
“We’re feeling job anxiety. We’re feeling a sense of crisis,” Ha Bu-young, the head of the Hyundai Motor union, South Korea’s biggest and most powerful union, told Reuters in an interview late last week. ULSAN, South Korea: Hyundai Motor’s union chief warned its workers may face a similar crisis to the one hitting General Motors‘… Continue reading Hyundai union chief warns of job crisis, says electric cars are ‘evil’
German prosecutors raid VW over carbon dioxide emissions
Berlin: German authorities said Thursday they had again raided the headquarters of the world’s largest carmaker Volkswagen in a probe over financial market manipulation related to excessive exhaust emissions from its vehicles. “Papers and large volumes of data” were confiscated from 13 VW offices in Wolfsburg early this month, a spokesman for Brunswick prosecutors told… Continue reading German prosecutors raid VW over carbon dioxide emissions
Tata Motors plans to complete new product portfolio by 2023-24: Guenter Butschek, CEO
Elaborating on the product strategy, he added that the company would be ‘certainly’ very strongly represented in the 50 per cent of the PV market – the sub compact segment. GENEVA: Tata Motors plans to completely overhaul its passenger vehicle portfolio over the next five years as part of its plans to grow sales volume… Continue reading Tata Motors plans to complete new product portfolio by 2023-24: Guenter Butschek, CEO
China startup Nio hires eight banks for $2 bn US IPO
Other banks are Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank, JPMorgan and UBS, said the people, declining to be identified as the deal details are not public. HONG KONG: Chinese electric vehicle startup Nio has hired eight banks including Morgan Stanley and Goldman Sachs to work on a planned US stock market… Continue reading China startup Nio hires eight banks for $2 bn US IPO
Mahindra, LG Chem to develop Li-ion battery
The facility will come up on a 88-acre plot, and create 600 jobs, said industries minister RV Deshpande. NEW DELHI: Automaker Mahindra & Mahindra (M&M) has announced a tie-up with Korea-based battery manufacturer LG Chem for development of a unique cell exclusively for India. LG Chem will develop a unique cell exclusively for India application… Continue reading Mahindra, LG Chem to develop Li-ion battery