Author: World_Newz Mon

Russian carmaker Avtotor plans to increase car production by 20% yoy in 2019

KALININGRAD, June 5. /TASS/. Russian automobile holding Avtotor plans to increase production of cars by 20% year-on-year in 2019, the company’s founder Vladimir Shcherbakov told reporters on Wednesday.
“Last year we produced slightly more than 203,000 cars. This year, we expect to produce about 245,000 [cars], this is exactly 20% [up year-on-year],” he said.
Shcherbakov added that this year the holding plans to invest 100 mln euros in automobile production. According to him, these funds are part of total investment worth 12 bln rubles (164 mln euros) for 10 years stipulated by a special investment contract Avtotor intends to conclude before July 1.
The Avtotor holding was founded in 1994 in Kaliningrad, Russia’s westernmost region. The plant started production in 1997. It produces cars under BMW, KIA and Hyundai brands. In 21 years the company produced more than 2 mln cars.
Special investment contract is a new mechanism to support foreign and domestic car manufacturers. Its key a..

Lucky Motors to assemble Peugeot cars

Pakistan is set to get its first European car following the signing of an expression of interest (EoI) and a memorandum of understanding (MoU)between Lucky Motors Ltd (LML) and Groupe PSA of France in mid-May.Under the EoI and MoU, LML will assemble, manufacture, market, distribute and sell PSA passenger cars and light commercial vehicles in Pakistan.The group has planned to assemble PSA vehicles at Lucky Motors automobile manufacturing facility at Bin Qasim Industrial Park.

Lead a Major Automaker for 3 Years and You’re an Industry Elder

When Dieter Zetsche was replaced as chief executive of Daimler last week, it underlined yet another momentous change in the automotive industry’s executive ranks.After bottoming out during the last recession, the auto industry mounted a furious recovery only to quickly face deeper (and deeply expensive) questions: how to manage the shift to electric vehicles as the world confronts climate change and how to prepare for a time when cars might drive themselves.

The 986 hp Ferrari SF90 Stradale hybrid is the company’s most powerful car ever

Ferrari’s newest model is a plug-in hybrid aimed at burnishing the company’s environmental image.One of the electric motors is fitted between the engine and the 8-speed automatic transmission that drives the rear wheels, while each front wheel gets its own electric motor.The function is meant to be used in city centers, or anytime the driver wants to keep a low profile.

Ferrari SF90 Stradale revealed: a fabulous hybrid supercar packed with technical firsts

Ferrari has revealed its first series-production hybrid supercar, the SF90 Stradale, at an event at its base in Italy that is also home to the Scuderia Ferrari racing team.As you might expect, it looks fabulous, but first the figures, as this is a special car even for Ferrari.The top speed of more than 211mph is pretty much par for the course for a supercar of the modern era.

Elon Musk seeks record quarter, nudges Tesla workers to ‘catch up’ on deliveries

Tesla CEO Elon Musk is looking to ramp up deliveries of the company’s electric vehicles, hoping to notch a record second quarter.In an email to employees, Musk asked workers to focus on delivering vehicles and cutting costs, as the automaker targets as many as 400,000 deliveries in 2019.Overall vehicle deliveries fell to 63,000 – down from 90,700 in the prior quarter.

GM to produce Chevy Trailblazer SUV in S. Korea

General Motors Co. will produce the all-new Chevrolet Trailblazer sport-utility vehicle in South Korea later this year, the local unit said Thursday.Currently, GM Korea’s Chevrolet lineup includes two SUV models — the Trax compact and the midsize Equinox SUV.Others are the Spark city car, the Malibu midsize sedan, the Impala flagship sedan, the Camaro sports car, the Bolt EV, and the Damas and Labo mini commercial vehicles.