GROUPE RENAULT PRESENTS ITS DRAFT PLAN TO REDUCE FIXED COSTS BY MORE THAN 2 BILLION EUROS OVER THREE YEARS The objective of reducing fixed costs by more than 2 billion euros over 3 years aims to restore the Group’s competitiveness and ensure its long-term development within the framework of the Alliance. The draft plan is… Continue reading Alpine Brand’s Future Comes Into Question: Might Become EV Sports Car Maker
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China’s Geely Auto to raise $825m from equity issue
GUANGZHOU — Geely Automobile Holdings will raise up to 6.4 billion Hong Kong dollars ($825 million) through a sale of new shares, the Chinese company said Friday, aiming to shore up finances as car sales languish. The automaker plans to offer 600 million new shares in the Hong Kong market, where it is listed. The float will… Continue reading China’s Geely Auto to raise $825m from equity issue
SoftBank leads $500m funding in Chinese ride-hailer Didi
HONG KONG/TOKYO China’s largest ride-hailing company Didi Chuxing has raised $500 million for its autonomous driving subsidiary in a funding round led by SoftBank. The investment, the largest single funding round in China’s autonomous driving sector, marks Didi’s growing ambition in developing its own self-driving fleets as competition heats up and more companies begin launching… Continue reading SoftBank leads $500m funding in Chinese ride-hailer Didi
Nissan recovery plan seen as start of long journey by investors
TOKYO — The massive restructuring plans laid out by Nissan Motor that led to its worst loss in 20 years have not dispelled doubts among investors and analysts about whether the Japanese carmaker is now fully on the road to recovery. Nissan is likely to face more restructuring costs, and CEO Makoto Uchida will need… Continue reading Nissan recovery plan seen as start of long journey by investors
ZF Completes WABCO Acquisition
Signalling the start of WABCO’s integration into ZF, the acquisition unites two industry leaders behind a shared vision to create a customer-focused powerhouse to advance commercial vehicle technology. With the addition of WABCO, ZF’s focus will be on expanding its commercial vehicle service portfolio and on operating customer business. “The combination of these two successful… Continue reading ZF Completes WABCO Acquisition
Uber UK launches Work Hub for drivers to find other gig jobs during COVID-19
Uber U.K. has launched a Work Hub for drivers to view a selection of temporary work opportunities with other companies as a way to supplement pandemic-hit ride-hailing earnings during the coronavirus crisis. The Work Hub sits within the Uber driver app and displays offers of work from third party providers — including jobs that involve… Continue reading Uber UK launches Work Hub for drivers to find other gig jobs during COVID-19
SoftBank led $500M investment in Didi in China’s biggest autonomous driving round
The race to automate vehicles on China’s roads is heating up. Didi, the Uber of China, announced on Friday an outsized investment of over $500 million in its freshly minted autonomous driving subsidiary. Leading the round — the single largest fundraising round in China’s autonomous driving sector — is its existing investor Softbank, the Japanese… Continue reading SoftBank led $500M investment in Didi in China’s biggest autonomous driving round
China: BYD Sold Over 12,000 Plug-In Electric Cars In April 2020
April 2020 did not bring any significant progress in terms of plug-in electric car sales for BYD in China. The company sold some 12,262 passenger plug-ins, which is just a few percent more than in March. The volume decreased year-over-year by 46% (10th month of consecutive decline) and the plug-ins stand for just 39% of… Continue reading China: BYD Sold Over 12,000 Plug-In Electric Cars In April 2020
Capgemini and Audi launch new JV for digital tech and consulting services
Capgemini and Audi have launched their joint venture called XL2. It will provide digital technology and consulting services in the fields of SAP S/4HANA and cloud services primarily for Audi and the entire Volkswagen Group. XL2 combines an agile start-up culture reinforced by two global industry leaders. The company’s goal is to expand its project… Continue reading Capgemini and Audi launch new JV for digital tech and consulting services
Devel Sixteen III Concept Is Even Wilder Than The 5,000 HP Original – HotCars
The Devel Sixteen was touted to be the hypercar of hypercars. With more than 5,000 hp of impervious output, the Sixteen could easily leave other hypercars in the dust. So far, Devel Motors has released two Sixteen concepts, both of which look amazing. Now, here’s a reimagination of the Sixteen that doesn’t come from Devel.… Continue reading Devel Sixteen III Concept Is Even Wilder Than The 5,000 HP Original – HotCars