Author: World_Newz Mon

Volvo Cars reports 7.4 pct global sales growth in April

STOCKHOLM, May 3 (Xinhua) — Volvo Cars global sales grow up 7.4 percent in April, compared with the same period last year, according to the company's press release on Friday.

Total sales in April reached 56,535 cars with all the regions of China, U.S. and Europe reporting a growth in volumes compared with the same month last year. Meanwhile, sales in the January-April period stood at 217,855 cars, up 8.9 percent compared with the same period last year.

The volume growth in April was led by continued strong demand for Volvo's award-winning SUV range led by the XC60, and followed by the XC40 and XC90. Volvo's latest models, the V60 estate and the U.S.-built S60 sedan, also contributed to the increased volumes, the company said.

Regionally, China reported a strong sales growth of 16.8 percent in April compared with the same period last year. Total sales in the region reached 12,192 cars during the month. The growth was on the back of high demand for the locally assemble..

France and Germany join forces on R&D for car batteries in project called ‘Battery Airbus’

France and Germany will work together on project ‘Battery Airbus’, a car battery research and development initiative with an estimated initial investment between EUR 5 and 6 billion.Today, the battery production segment for electric cars is dominated by the Japanese company Panasonic Corp., alongside South Korean manufacturers Samsung SDI Co and LG Chem and Chinese Contemporary Amperex Technology.The European Commission launched its own European Battery Alliance (EBA) in 2017 to support the development of European battery production for electric cars.

Volkswagen sets aside 5.5 billion euros in contingent liabilities for diesel scandal

Volkswagen said it has set aside 5.5 billion euros ($6.16 billion) in contingent liabilities to cover possible risks arising from a diesel cheating scandal, chief financial officer Frank Witter said on Thursday.In 2015 VW was caught using illegal engine control software to cheat U.S. pollution tests by masking excessive levels of nitrogen oxide pollution coming from its diesel cars.

German chauffeur service Blacklane targets Middle East

German chauffeur service Blacklane is planning an initial public offering (IPO) in the next three years, its chief executive told Reuters.Blacklane, which competes with the likes of British premium car service Addison Lee and UberBLACK, the ride-hailing app’s luxury arm, caters to business customers in 300 cities in 60 countries.

Jaguar to move Land Rover Defender production to Slovakia

The plant was built with an initial capacity of 150,000 vehicles and started by taking over production of the carmaker’s Discovery model.The British government has been wary of carmakers moving production outside the country after the industry warned that it would face possible risks if Britain’s impending exit from the European Union is disorderly.The risks, including delays to the supply of parts and finished models, new customs bureaucracy, the need to re-certify cars and an up to 10 percent tariff on finished vehicles, have forced carmakers to draw up contingency plans and even briefly shut production at their plants.

NAMI plans to produce 150 Aurus luxury cars in 2019, Ministry of Industry says

MOSCOW, April 29. /TASS/. Russia’s NAMI plans to produce 150 Aurus premium cars in 2019, press service of the Ministry of Industry told TASS on Tuesday.

“NAMI will be able to produce 150 cars at its facilities in 2019, with a small portion to be on the market already this year,” the ministerial press service said.

Prices for Aurus Senat and Aurus Senat Limousine models are expected to be announced in the second half of May, the press service added.

Aurus is a Russian brand of cars for senior officials. The car was designed as part of the Cortege project, implemented by NAMI (Central Scientific Research Automobile and Automotive Engines Institute) in Moscow, Russia, since 2013.

Initially the goal was to design a limousine for the Russian president. The project envisages by now the creation of the line of cars on the base of a single platform (sedan, limousine, minivan and sport utility vehicle (SUV)). The limousine was first used during the inauguration of Russian President Vladimir..

Workers Suspect US ‘Conspiring’ To Bankrupt Russia’s Largest Commercial Vehicle Plant

Since it initiated its sanctions campaign against Russia back in 2014 in response to the annexation of Crimea, Washington has insisted that its measures aren’t aimed at the Russian people.And among workers at the GAZ truck and van plant in Nizhny Novgorod – which survived Nazi bombing raids during the second world war but is being pushed toward collapse by the US Treasury measures – conspiracy theories abound.The factory has been targeted because of Washington’s sanctions against its owner, Russian oligarch Oleg Deripaska, over his alleged links to the Kremlin.