Author: World_Newz Mon

Volvo Car Group signs multi-billion dollars battery supply deals

SHANGHAI, May 15 (Xinhua) — Volvo Car Group announced on Wednesday that it signed long-term agreements with leading battery makers CATL and LG Chem to ensure the multi-billion dollars supply of lithium-ion batteries over the coming decade for next-generation Volvo and Polestar models.

The agreements cover the global supply of battery modules for all models on the upcoming SPA2 and the existing CMA modular vehicle platforms and represent a major step toward realizing Volvo Cars' ambitious electrification strategy.

In 2017, Volvo Cars made the commitment that all new Volvo cars launched from 2019 would be electrified. The company stated that it aims for fully electric cars to make up 50 percent of its global sales volume by 2025.

“The future of Volvo Cars is electric, and we are firmly committed to moving beyond the internal combustion engine,” said Håkan Samuelsson, president and CEO of Volvo Cars. “Today's agreements with CATL and LG Chem demonstrate how we will reach our..

Volvo inks multi-billion dollar EV battery supply deals with LG Chem, CATL

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).

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.

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.

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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)