Zhejiang Geely Holding Group Co. held informal talks about the potential takeover of Fiat Chrysler Automobiles NV before the Chinese manufacturer turned its attention toward Daimler AG, according to people familiar with the matter. Li Shufu, the Chinese billionaire who controls Geely, approached the Italian-American carmaker in the middle of last year as he was… Continue reading Geely Held Informal Talks With Fiat Chrysler Before Daimler Deal
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CEO of Geely-owned Volvo Cars loses board seat at truck maker after Li Shufu buys Daimler stake
Swedish truck maker AB Volvo dropped the chief executive of Volvo Cars from its board after Chinese billionaire Li Shufu, founder and chairman of Zhejiang Geely Holding Group, bought a 9.7 per cent stake in German car manufacturer Daimler. The move is the latest sign that the global auto industry is ratcheting up pressure on… Continue reading CEO of Geely-owned Volvo Cars loses board seat at truck maker after Li Shufu buys Daimler stake
A car of no compromise: the all-new Kona Electric
“Hyundai Motor is already leading in future mobility solutions,” says Andreas-Christoph Hofmann, Vice President Marketing and Product at Hyundai Motor Europe. “By launching our All-New Kona Electric, we are pushing our ambitious eco car strategy forward. It’s a car of no compromise – combining an SUV body type with electric-mobility. It represents Hyundai’s progressive character.… Continue reading A car of no compromise: the all-new Kona Electric
BAIC Motor and Daimler to invest $1.9bn for Mercedes-Benz plant
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BMW, Toyota Back a Driverless Startup That Wants to Start Small
As automakers spend billions to rack up autonomous miles and map city streets, Toyota Motor Corp. and BMW AG are also betting on a startup with a more modest approach. The corporate venture arms of the two carmakers led a $11.5 million seed investment round for May Mobility, a micro-transit company that deploys self-driving electric shuttles… Continue reading BMW, Toyota Back a Driverless Startup That Wants to Start Small
Bentley wants its next new car to be fully autonomous
Bentley’s new Bentayga V8 was revealed this week and will start at prices of £136,200 Bentley This week in Austria, Bentley launched its new V8 iteration of its luxury Bentayga SUV. The first Bentayga came off the production line back in 2015, and the company has produced more than 10,000 so far. Considering it takes… Continue reading Bentley wants its next new car to be fully autonomous
Parking giant says Uber, Lyft have cut parking business up to 50% in some venues
SAN DIEGO: The US parking giant Ace Parking says that Uber and Lyft are eating into the parking business – with as much as 50% less traffic at nightclubs and a 25% drop at restaurant valets. A death knell for paid parking? No, Ace and others say they are going high-tech to survive. In downtown… Continue reading Parking giant says Uber, Lyft have cut parking business up to 50% in some venues
General Motors cutback in car production at Oshawa plant to be extended: report
OSHAWA, Ont. – General Motors Co. is reportedly extending a cutback in car production at its plant in Oshawa, Ont., into April and May before it begins a second shift to produce pickup trucks later this year.The automaker had halted production of Cadillac XTS and Chevrolet Impala cars for three weeks in January and brought… Continue reading General Motors cutback in car production at Oshawa plant to be extended: report
‘HIPERCAR’ – Electric speedster ‘will be quite a game changer’
After building a stellar reputation for outrageously fast and fun-to-drive petrol cars, British automaker Ariel is now poised to sprinkle its stardust over the electric car scene, too. Follow @cnnsport The “HIPERCAR” project will deliver an “ultra-high performance, range extended” hybrid EV car, according to the company, which is developing two and four-wheel drive models.… Continue reading ‘HIPERCAR’ – Electric speedster ‘will be quite a game changer’
New Toyota magnet cuts dependence on key rare earth metal for EV motors
FILE PHOTO: A Toyota Prius and a Prius V are displayed at the North American International Auto Show in DetroitThomson Reuters TOKYO (Reuters) – Toyota Motor Corp has found a way to reduce the amount of a key rare earth metal used in magnets for electric car motors by around 20 percent, which could tame… Continue reading New Toyota magnet cuts dependence on key rare earth metal for EV motors