Author: World_Newz Mon

Audi Hungaria announces HUF 41 bln expansion

German car maker Audi will spend HUF 41 billion to expand its vehicle manufacturing infrastructure, engine development center and electric motor unit in Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday.Audi Hungaria Chairman Achim Heinfling – who departs the local unit in the fall to take over management of Audi AGʼs principal assembly plant in Ingolstadt, Germany – said the investment will be completed by the end of 2020.Audi Hungaria is playing a leading role in the area of electromobility within the Audi group, Heinfling observed.

Ford demonstrates all-electric F-150’s power with video of vehicle towing more than 1M pounds

Ford showed off the upcoming all-electric F-150 by demonstrating the pickup truck’s power with a video of the vehicle towing more than one million pounds.The automaker released the video of the truck Tuesday.The prototype then towed the rail cars but this time 42 2019 F-150s were added, pushing the weight up to more than one million pounds.

Daimler and Bosch obtain approval for world’s first SAE level 4 driverless valet parking

BERLIN, July 23 (Xinhua) — Carmaker Daimler and Germany's largest automotive supplier Bosch have obtained the official approval for an automated valet parking system in the Mercedes-Benz museum parking garage in the city of Stuttgart, the two companies announced on Tuesday.
The project was supervised by experts of the technical inspection association TUEV Rheinland and would be the world's first fully automated driverless parking function according to SAE Level 4 “to be officially approved for everyday use”, Daimler and Bosch stated.
Autonomous driving according to SAE level 4 enables a car to drive without a driver in a geographically defined area such as the parking garage in the pilot project of Bosch and Daimler.
“Driverless driving and parking are important building blocks for tomorrow's mobility,” said Markus Heyn, chief executive officer (CEO) of Bosch.
For the pilot project, Bosch is providing the infrastructure and sensors installed into the parking garage whil..

French group Faurecia holds course in ‘tougher than expected’ auto market

French auto parts maker Faurecia maintained first-half profitability despite a China-led decline in auto production and the loss of seating contracts, the company said on Tuesday.Its positive net cash flow rose 3.9% to 257 million.The company reiterated 2019 guidance including a margin of 7% or more and net cash flow of at least 500 million, assuming a 4% decline in global auto production for the full year.

BAIC acquires stake in Daimler

China’s BAIC Group has acquired a 5 percent stake Mercedes-Benz owner Daimler AG, the State-owned company announced on Tuesday.Daimler also owns 9.55 percent stake in BAIC.In early 2018, Zhejiang Geely Holding Group acquired 9.7 percent of the German carmaker, becoming its largest shareholder in the world.

German owners give Slovak subsidiaries more power

Germany is a hatchery of firms that have been forming the Slovak economy for decades.Brose Prievidza, which produces engines and other car parts for the automotive sector, also plans to build a new Slovak R&D centre.The transfer is not just about R&D. The biggest German investment, Volkswagen Slovakia, produces five vehicle brands as the only plant in the group, using a very unique automatised control room.

Despite labor tension, Hyundai Motor’s Q2 profit jumps

Amid growing tension between the management and unionized workers, Hyundai Motor said Monday it saw its operating profit rise 30 percent in the second quarter chiefly on the weaker Korean won and sales of new sport utility vehicles.It sold 1.1 million vehicles worldwide, a 7.3 percent decrease from the second quarter in 2018.Despite Hyundai’s earnings recovery, the market is concerned of the growing management-labor tensions over annual wage negotiations which could possibly impact its third-quarter performance.