Backed by a list of stellar investors, T3 – an emerging car-hailing app – was launched on July 22 in Nanjing, East China’s Jiangsu province, where it’s headquartered.Of the 9.76 billion yuan ($1.42 billion) invested, 1.7 billion yuan was contributed by home appliance retailer Suning, making it the largest shareholder with 17.42 percent equity.The three automakers FAW Group, Dongfeng Motor and Changan Automobile each took 16.39 percent equity as the second-largest shareholders.
Author: World_Newz Mon
Delo says electric cars soon to become a usual thing
In its front-page commentary on Saturday entitled Do You Dare to Buy an Electric Car?, the newspaper Delo writes about the fast technological development which has brought a rise of electric vehicles because of which directors of classical automotive companies will have a hard time.
EESL to install 100 EV charging stations in Noida
The Memorandum of Understanding (MoU), which was signed between EESL Managing Director Saurabh Kumar and NOIDA CEO Ritu Maheshwari, will fast-track the adoption of e-mobility in Noida by promoting robust electric vehicle (EV) infrastructure.Under its EV programme, EESL has completed the tender processes to procure 10,000 e-cars.
Russia’s Yandex posts rapid sales growth as taxi business shines
…May but have recovered to 127p after the good results in June. Vianet Faced with steady decline in its core sector — UK pubs — Vianet has responded by focusing on increasingly sophisticated technology …
Audi invests €126m in Győr, Hungary plant
As well as bringing additional jobs, making the total around 13,000 employees, the investment could contribute to a new record in Hungarian exports.Audi Hungaria has taken a lead role in electromobility inside the Audi Group.The rapid rise in awareness amongst European consumers, as well as environmental legislation has meant that the race to bring electric vehicles into the mainstream is well and truly on.
China has world’s largest network of charging facilities for electric vehicles
China has built the world’s largest network of charging facilities for electric vehicles, as 1 million charging piles had been completed by the end of June, an official said Thursday.
Bond Default Looms for Cash-Strapped Hawtai Motor
A financially strapped private carmaker is likely to default on 1.5 billion yuan ($218 million) of privately offered bonds as a deadline approaches by the end of Friday with no payment yet made.The company has four outstanding bonds, including the one due Friday, a 1 billion yuan bond due Sunday and a 2 billion yuan note due Oct. 26.Hawtai pledged 10.5 billion yuan of plants and land, plus 3.58 billion yuan of financial assets by the end of 2018.
VW Bucks the Trend in Crowd of Struggling Carmakers
Volkswagen AG joined PSA Group in using sales of lucrative sport utility vehicles to stand out against a crowd of carmakers struggling with the auto market’s downturn.
Musk Completes Dizzying 360-Degree Turn on His Plan for Tesla’s Retail
For years, Tesla Inc.’s Elon Musk loved his chain of store and service centers. Quarter after quarter, the carmaker kept adding more, even waging legal battles to set up shop in states where dealers tried to block him.
4 automakers cut deal with California on fuel efficiency regulations
Four major automakers have reached a deal with California to increase gas mileage and greenhouse gas emissions standards, bypassing the Trump administration’s plan to freeze standards at 2021 levels.The Trump administration has sought to freeze Obama administration standards that would have required the fleet of new vehicles to get an average of 36 miles per gallon in real-world driving by 2025.Under the deal with California, fuel economy and corresponding greenhouse gas emissions standards would rise by 3.7% per year starting with the 2022 model year, through 2026.