Author: World_Newz Mon

BAIC makes capital statement with BEIJING brand launch

China’s BAIC Group, partner of Mercedes-Benz and Hyundai, has unveiled a new brand called BEIJING in an effort to sharpen the competitive edge of its own passenger vehicle business.BJEV spent 159 million yuan ($22.5 million) in research and development in the first half of the year.In five years’ time, the group will invest 20 billion yuan to develop two new product platforms: one for hybrid cars and the other for electric vehicles.

Russia and UAE plan to discuss orders and sales of Aurus cars in November

MOSCOW, October 16. /TASS/. The Russian Ministry of Industry and Trade and the Tawazun Economic Council are planning to discuss orders and planned sales of Aurus line of executive-class vehicles in November, the ministry's press service told TASS.
“The visit of the President of Russia to the UAE, undoubtedly, gave an additional impetus to the development of cooperation and sparked special interest in the brand. Therefore, together with Tawazun, specific actions are being worked out to develop Aurus for the coming year. With regard to orders for cars and planned sales volumes, we will discuss it in more detail with colleagues from Tawazun (participates in the Aurus project – TASS) at the next Aurus board of directors meeting, which will be held in Abu Dhabi in late November,” the ministry said.
The ministry also noted “huge interest” of the Middle Eastern countries in the Aurus brand.
Minister of Industry and Trade Denis Manturov said earlier that since February 2018, more than 600..

Experience, not nationality, key for new CEO at France’s Renault – minister

PARIS, Oct 15 (Reuters) – Experience in overhauling a company and a track record in industry will be more important than nationality when carmaker Renault chooses a new chief executive, France's junior economy minister said on Tuesday.
Renault, in which the French government owns a 15% stake, last week kicked off the search for a new leader after ousting CEO Thierry Bollore, hoping new blood will help it repair relations and strengthen a partnership with Japan's Nissan , which has also switched top managers.
The French state, with a boardroom vote on Bollore's successor, is open to casting the net wide, junior minister Agnes Pannier-Runacher told Reuters.
“When we had to find the best profile for someone to lead Air France, we got someone who is not French – very well,” said Pannier-Runacher, referring to ex-Air Canada boss Ben Smith's appointment last year at the airline, in which Paris also holds a stake.
“It's the best profile that counts here, someone that ..

Decision on Turkey plant postponed, VW tells Tanjug

The Volkswagen board of directors has postponed a decision on the construction of a new car plant in Turkey over Ankara’s military action in Syria, a source in the German automotive concern has told Tanjug.The plant, worth between 1.2 bln and 1.5 bln euros, was to be built near Izmir and hire up to 4,000 people.Serbia and several countries in the region were also vying to land the investment.

2020 marks end of support for fuel cell cars

Hydrogen fuel cell vehicles will no longer receive government subsidies when China withdraws its financial stimuli by the end of 2020.And despite the financial support, China’s fuel cell industry has not made breakthroughs and has not seen rapid development,” said the ministry.It expects global fuel cell vehicles to grow to around two million vehicles a year within that timeframe.