Author: World_Newz Mon

Tesla expects the Model Y to be more profitable than the Model 3

Tesla expects its upcoming Model Y SUV to be more profitable than its Model 3 sedan, the electric-car maker said on Wednesday in its second-quarter earnings letter.Like Tesla’s Model X SUV, the Model Y will be able to seat seven people.Tesla reported a larger-than-expected loss for the second quarter, losing $US1.12 per share (versus an expected loss of $US0.31 per share) on revenue of $US6.35 billion (versus an expected $US6.45 billion).

China steps up investments in automotive industry

CHINA has long been a key market for global automotive manufacturers.The single biggest investment in the category is Geely’s stake in Daimler, which it bought for US$9 billion in February 2018, gaining about 9.7 per cent of the company and making it the single biggest shareholder in the German luxury-car company.The purchase by BAIC makes it the third-largest shareholder of Daimler and represents the biggest strategic investment by a Chinese government entity into a global carmaker.

Cycle & Carriage Singapore enters car leasing business, forms fleet partnership with Gojek

AUTOMOTIVE group Cycle & Carriage Singapore on Thursday said it has entered the car leasing business through the formation of a new unit wholly owned by parent company Jardine Cycle & Carriage (Jardine C&C).The new unit, Cycle & Carriage Leasing, will provide various leasing options from daily rentals to long-term car rentals of up to three years, and will also be available to private hire drivers.Cycle & Carriage Leasing’s fleet will consist mainly of brands represented by Cycle & Carriage Singapore – namely Kia Cerato, Kia Stonic, Kia Niro Hybrid as well as Mitsubishi Attrage.

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.