FRENCH President Emmanuel Macron said “nothing justifies” changing the cross-shareholding structure between Renault SA and Nissan Motor Co, underscoring the difficulty the Japanese carmaker has had in its efforts to reduce its partner’s influence over their global car alliance.The French state is Renault’s most powerful shareholder and its presence on the board has long created friction with Nissan.Renault chairman Jean-Dominique Senard, who is travelling with Mr Macron, has pushed for a merger with Nissan.
Author: World_Newz Mon
Jaguar Land Rover Is Exploring New High-Yield Bond Sale
Jaguar Land Rover Automotive Plc has this month approached European investors via a bank for a potential new bond financing, according to people familiar with the matter.
Ride-hailing app Yango launches in Bucharest
Yango, an digital e-hailing app currently operating in 16 countries across Europe, the Middle East and Africa, was launched in Bucharest on Thursday.With the launch of the app, a dedicated driver’s center was recently opened by a Yango partner in Bucharest.Best rated drivers get more orders, while drivers with low ratings will receive fewer rides or may even be denied access to the service if their rating is very low (temporarily or permanently).
VW Board Puts Ford Alliance on Agenda for July Meeting
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Mitsubishi Motors announced on Tuesday that it is relocating its North America headquarters from California to Tennessee, a move that will bring the Japanese automaker closer to its sister company Nissan and strengthen Tennessee’s growing reputation as an epicenter of the automotive sector.Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe — who made the announcement with Mitsubishi Motors North America — say the headquarters move from Cypress, California, to Franklin, Tennessee, will result in an $18.25 million investment in the region and approximately 200 jobs.It is unclear what financial incentives state officials offered Mitsubishi to move to Tennessee.
Report says GM is discontinuing the Chevrolet Camaro … again
A new report says that Chevrolet is killing the Camaro.The sports car is midway through its life cycle and won’t be replaced when it ends in 2023.The coupe and convertible line debuted for the 1967 model year and was continuously produced until 2002.
Mercedes-Benz’s Startup Autobahn scouts talented Korean startups
Global automotive companies are starting to heavily invest in autonomous driving, customized infotainment systems and sensor technology to improve driver assistance features.Philipp Gneiting, head of Open Innovation at Daimler Group, speaks during a meeting with reporters in Seoul on Wednesday.As part of the automaker’s plan for survival in the automotive revolution and meet consumer demand, Daimler has been developing its future mobility technologies based on four pillars — Connected, Autonomous, Shared, Electric — or CASE.
Hyundai Motor to work with Aramco over hydrogen energy
Hyundai Motor Group Executive Vice Chairman Chung Euisun and Saudi Aramco CEO Amin Nasser signed an MOU on their comprehensive partnership in sharing technologies over hydrogen fuel cell electric vehicles (FCEV) and other futuristic cars.SK Gas, an LPG distributor of SK Group, signed two MOUs with Advanced Global Investment Company, which is a subsidiary of Saudi Arabia’s Advanced Petrochemical Company.Amid the prince’s visit to Korea, Hyosung, GS Holdings, Hyundai Oilbank, Samsung Bioepis, Industrial Bank of Korea, SK Global Chemical and Korea National Oil Corp. also signed deals with their Saudi Arabian partners and their ministries.
BMW Drags Feet on Merkel’s Call for German Battery Champions
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1967 Ford Mustang rebooted with electric power, supercar price
The 1967 Ford Mustang is being rebooted.A new British automaker named Charge is now selling a battery-powered version of the classic American sports car.Charge’s coupe mixes an officially-licensed aftermarket body with a 64 kilowatt-hour battery pack and four electric motors that put out a muscle car-like combined 469 hp and 885 lb-ft of torque.