Swedish carmaker Volvo said on Wednesday it had signed long-term battery supply deals with two Asian battery makers, South Korea’s LG Chem and China’s Contemporary Amperex Technology Co Ltd (CATL).Volvo, owned by China’s Geely, is launching electric-vehicle (EV) models under Volvo and its sub-brand Polestar as it takes on global peers including Volkswagen, Tesla and General Motors in the increasingly competitive market for electric vehicles (EVs).
Author: World_Newz Mon
Aston Martin’s Profit Slides on Sales Slump and Rising Investment
Aston Martin Lagonda reported lower first-quarter earnings as the luxury automaker boosted spending on new models and sales in the U.K. and mainland Europe declined.
Maserati to use BMW self-driving technology, Fiat chairman says
It also has autonomous vehicle development partnerships with Alphabet’s Waymo and auto supplier Aptiv.Luxury sports-car brand Maserati, which saw its sales plunge 32 per cent in the first three months of the year, has been struggling with a lack of new product and a sharp drop in demand from China.
VW Cranks Up Electric-Car Plants to Overtake Tesla’s Capacity
VW Cranks Up Electric-Car Plants to Overtake Tesla’s Capacity
Bloomberg
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May 14, 2019 at 12:47 PM
In about a year, Volkswagen AG may catch up to Tesla Inc.’s capacity to make electric cars.
The $35,000 Model 3 is no more. Tesla raises prices slightly
New York (CNN Business)The $35,000 Tesla proved to be very short-lived — less than three months, start to finish.And it was important benchmark of Tesla’s promise to bring electric cars to the masses.The cheapest version a buyer can order online comes with a slightly longer range battery and some other options not available on the $35,000 version, It was priced at $39,500.
Nissan Considers Buying Stake in Chinese Electric Carmaker
Nissan Motor Co. is looking to invest in a Chinese electric-car startup, according to people familiar with the matter, to provide it with a greater footprint in the world’s biggest market for new-energy vehicles.
Phil Popham: ‘We’ve got to get Lotus back on the road again’
There’s something special being built in secret at the storied sports carmaker’s base in Hethel amid the green fields outside Norwich.Popham’s plan – bankrolled by Chinese automotive giant Geely who took control in 2017 – to get Lotus back on track is to deliver a car like no other.Taking shape inside Lotus’s design studio is Project 130 – a “hypercar” which will be the most powerful ever to hit the roads.
China’s BAIC seeks to buy 5 percent Daimler stake -sources
German takeover rules allow a buyer to acquire a stake of up to 3 percent before a regulatory disclosure is required.Daimler has ruled out issuing new stock to help an outside party build a stake, forcing potential buyers to acquire shares on the market.BAIC signalled its interest in buying a Daimler stake as far back as 2015, and has redoubled its effort after Li Shufu, chairman of rival Chinese carmaker Zhejiang Geely Holding Group built a 9.69 percent stake in Stuttgart-based Daimler in early 2018.
More sources
Exclusive: China's BAIC seeks to buy 5 percent Daimler stake (Reuters: May 11, 2019 at 8:43 AM)China's BAIC seeks to buy 5 percent Daimler stake (CNBC: May 11, 2019 at 8:38 AM)Exclusive: China's BAIC Seeks to Buy 5 Percent Daimler Stake (New York Times: May 11, 2019 at 8:43 AM)
Ford Shareholders Air Grievances to Management
Ford Motor Co. shareholders aren’t ready to take a victory lap over the stock showing signs of life in the early stages of a years-long restructuring.
Volkswagen’s systems can’t cope with 10,000 electric car orders
London (CNN Business)Volkswagen says its IT systems are melting down as people rush to order its new electric car online.Customers need a €1,000 ($1,120) deposit to reserve one of the 30,000 cars Volkswagen plans to make.The German carmaker plans to release 70 different electric models over the next decade, across brands including Audi, Porsche and Skoda.