Category: News Site

Nidec chief predicts a $3,000-car era with spread of EVs

TOKYO — Car prices will fall to below $3,000 each, creating new demand in India, Africa and the Middle East, said Shigenobu Nagamori, chairman and CEO of the world’s largest motor maker Nidec, on Monday. “The price of a car will drop to as low as 300,000 yen ($2,890), resulting in a spike in demand… Continue reading Nidec chief predicts a $3,000-car era with spread of EVs

Uber lays off 15% of Postmates’ workforce just 3 months after buying the food delivery app. Postmates founder Bastian Lehmann is reportedly among those let go.

Uber laid off around 185 Postmates staff on Thursday, sources told The New York Times. This included Bastian Lehmann, the founder and CEO of the food delivery app, the sources said. Uber bought the app in 2020, and the layoffs feed into Uber’s plan to better integrate Postmates and Uber Eats, the sources said. Visit Business… Continue reading Uber lays off 15% of Postmates’ workforce just 3 months after buying the food delivery app. Postmates founder Bastian Lehmann is reportedly among those let go.

Vietnam’s Vingroup to raise $303.6 mln via bonds for phones, autos units

HANOI: Vingroup, Vietnam‘s biggest listed company, is seeking to raise 7 trillion dong ($303.6 million) through issue of domestic bonds this year to fuel its automobile and smartphone units, the company said in a statement. The issuance would be in three phases, starting on Feb. 18, the company said. Nearly 73% of capital raised will… Continue reading Vietnam’s Vingroup to raise $303.6 mln via bonds for phones, autos units

Skoda Kushaq unveiled ahead of world premiere in March

Skoda Auto India today unveiled its first model under the ‘India 2.0’ revival strategy and the midsized crossover which was christened Skoda Kushaq on January 7, is out in the flesh albeit in camouflaged form.  The new crossover, which is built on Skoda’s MQB-A0-IN platform aims to cater to the India-specific requirements of design, quality,… Continue reading Skoda Kushaq unveiled ahead of world premiere in March

Hyundai launches AI-driven humanoid robot for automated customer services

Hyundai Motor Group has launched the ‘DAL-e’, a highly advanced customer service robot that independently communicates with people using precise recognition capabilities and mobility functions. The DAL-e is an acronym for ‘Drive you, Assist you, Link with you-experience’. Designed to pioneer the future of automated customer services, the DAL-e is equipped with state-of-the-art artificial intelligence… Continue reading Hyundai launches AI-driven humanoid robot for automated customer services

Autonomous driving startup Uisee attracts Chinese state investor in $150M round

There is no lack of state funding for China’s smart driving startups nowadays as the country advances its goal to become a global leader in artificial intelligence in a decade’s time. The latest to get a financial boost is Uisee, a Beijing-based company founded by a group of tech veterans including the former head of… Continue reading Autonomous driving startup Uisee attracts Chinese state investor in $150M round

China Evergrande New Energy Vehicle Co attracts investors to raise $3.4 billion

The company’s balance of interest-bearing indebtedness was 716.5 billion yuan ($110.6 billion) at the end of 2020 HONG KONG: Property giant China Evergrande’s Hong-Kong listed electric vehicles firm said on Sunday it would bring in six new investors to raise HK$26 billion ($3.4 billion) to fund technology research and repay debt. China Evergrande New Energy… Continue reading China Evergrande New Energy Vehicle Co attracts investors to raise $3.4 billion

Hyundai Motor Group Leaning Towards Using Valeo’s LiDAR Sensors for Its First Level 3 Autonomous Vehicle “Genesis G90”

It is reported that Hyundai Motor Group plans to use LiDAR sensors from Valeo, a French automotive supplier, rather than from Velodyne for its first “level 3” autonomous vehicle “Genesis G90” that will be released in 2022.This decision is likely based on the fact that Velodyne has yet to reach a level to mass-produce LiDAR… Continue reading Hyundai Motor Group Leaning Towards Using Valeo’s LiDAR Sensors for Its First Level 3 Autonomous Vehicle “Genesis G90”