Category: News Type

CORRECTED-UPDATE 2-Ford makes big electric push in Europe with new launches

(Reuters) – Ford Motor Co said on Tuesday it would launch eight electric vehicles in Europe this year, a key step in its target of achieving a majority of its overall sales from electric cars by the end of 2022. FILE PHOTO: The Ford logo is seen at the Ford oldest Brazil plant in Sao… Continue reading CORRECTED-UPDATE 2-Ford makes big electric push in Europe with new launches

Recovery first: for next Nissan CEO, priority is profit before Renault partnership

TOKYO (Reuters) – The next head of Nissan Motor Co will need to prioritize a recovery in profits at the troubled Japanese firm ahead of trying to fix its relationship with top shareholder Renault SA, executives and analysts say. FILE PHOTO: A Nissan logo is pictured during the media day for the Shanghai auto show… Continue reading Recovery first: for next Nissan CEO, priority is profit before Renault partnership

Volkswagen has reportedly reached a big milestone in battery costs that would heat up its competition with Tesla

Volkswagen has reached an important milestone in reducing the battery costs for its electric vehicles, according to a report from The New York Times. An unnamed Volkswagen executive told the publication that the automaker pays less than $100 per kWh for its batteries, a landmark that has been cited as a possible inflection point that… Continue reading Volkswagen has reportedly reached a big milestone in battery costs that would heat up its competition with Tesla

360° Wolfsburg – September 2019

The specified fuel consumption and emission data have been determined according to the measurement procedures prescribed by law. Since 1st September 2017, certain new vehicles are already being type-approved according to the Worldwide Harmonized Light Vehicles Test Procedure (WLTP), a more realistic test procedure for measuring fuel consumption and CO2 emissions. Starting on September 1st… Continue reading 360° Wolfsburg – September 2019

Hyundai’s 45 electric concept car is a futuristic blast from the past

Hyundai’s all-electric concept car, unveiled at the Frankfurt Motor Show on Tuesday, is a retro-futuristic stunner that harkens back to the automaker’s first foray into mass-produced vehicles over four decades ago. There’s a distinct late-‘70s / early-‘80s vibe at work here, which is by design. “Inspired by looking back at the brand’s first model in… Continue reading Hyundai’s 45 electric concept car is a futuristic blast from the past

‘Price of UK-made cars may rise’ in no-deal Brexit

BMW’s finance chief Nicolas Peter has warned that the price of cars made in the UK could rise if the country leaves the European Union without a deal on 31 October.. Mr Peter said that if WTO tariffs are imposed from 1 November then it is highly likely that the price of cars made in… Continue reading ‘Price of UK-made cars may rise’ in no-deal Brexit

Mini plant could cut shifts in event of no-deal

Media playback is unsupported on your device Workers at the Mini plant in Oxford could see their shifts cut in the event of a no-deal Brexit, BMW’s finance chief has told the BBC. Nicolas Peter said production was likely to fall at the Cowley factory, affecting jobs. But he said BMW, which also makes Minis… Continue reading Mini plant could cut shifts in event of no-deal

Porsche boosts stake in Rimac: What it could gain from the deal

Porsche announced last week that it has increased its investment in Rimac Automobili, the Croatian electric sports-car maker. It now holds 15.5 percent in Rimac, a step up from June 2018, when the German sports car maker purchased a 10 percent stake.

What’s one established sports-car brand—and part of the greater Volkswagen Group, with its massive research-and-development coffers—doing investing in a smaller, much less established one?

Rimac CEO Mate Rimac with Porsche Taycan

Part of it relates to how Rimac is building more than a car. Rimac, which now employs about 550, is putting the focus on high-voltage powertrains and battery tech—so there’s likely quite a bit of alignment with Porsche.

“We quickly realised that Porsche and Rimac can learn a lot from each other,” said Lutz Meschke, the Porsche AG board member in charge of finance and IT. We believe in what Mate Rimac and his company have to offer, which is why we have now increased our stake and intend to intensify our collaboration in the field of battery technology.”

Mate Rimac called gaining Porsche as a stakeholder “one of the most important milestones in our history,” with this increase of its stake in the company “the foundation for an even closer relationship.”

Porsche isn’t the only one investing in Rimac, though. Hyundai Motors, which includes Kia, earlier this year announced that it would invest $80 million in Rimac in a partnership extending to battery tech.

Rimac has already supplied the 800-volt battery pack and power systems for the Koenigsegg Regera supercar, and its most recent triumph has been the development of the C Two, an upcoming two-seater that reaches a claimed 256 mph, charges at 250 kw, and can go 404 miles on a charge in the very generous NEDC measurement.

2020 Porsche Taycan

With the newly shown 2020 Porsche Taycan the first mass-produced car built on an 800-volt system and the Volkswagen Group’s SPE electric supercar platform potentially nixed from the global giant’s R&D budget, a modest stake in Rimac might indeed be a very savvy investment.