Farmington Hills — Now that Lordstown Motors Corp. has the financial backing it needs, the electric vehicle startup is hoping to beat its competition to market by delivering its electric truck by next September. Northeast Ohio-based Lordstown Motors and DiamondPeak Holdings Corp., a special purpose acquisition company, completed a merger that makes the EV startup a publicly traded… Continue reading Lordstown Motors pushes forward with Endurance electric truck
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Vehicle sales reach 83% of 2019 figures in Gujarat
AHMEDABAD: Driving a new vehicle home is considered auspicious on Dussehra and the day indeed spelled good news for car and two-wheeler dealerships across Gujarat, with buoyant sales. According to estimates by Federation of Automobile Dealers’ Association (FADA), an estimated 11,100 vehicles were sold across Ahmedabad on Sunday. These include 8,500 two-wheelers and 2,600 four-wheelers.… Continue reading Vehicle sales reach 83% of 2019 figures in Gujarat
SEAT unveils multi-modal mobility platform to digitally manage vehicle fleets
Spanish carmaker SEAT has created its first multimodal mobility platform as a service through its SEAT:CODE software development centre. This platform is the first software product developed and marketed by the company in order to operate and manage vehicle fleets 100% digitally. SEAT MÓ has been the first operator to use this new mobility platform… Continue reading SEAT unveils multi-modal mobility platform to digitally manage vehicle fleets
Brilliance Automotive parent defaults on bond payment
SHANGHAI: Huachen Automotive Group Holding Co Ltd, the state-backed parent of BMW‘s main Chinese joint-venture partner, has defaulted on a bond payment, two sources with knowledge of the situation said, highlighting the automaker’s ongoing debt woes. Huachen was unable to a repay a 5.3% 1 billion yuan ($149.6 million) private placement corporate bond that matured… Continue reading Brilliance Automotive parent defaults on bond payment
Kia records 8.2% revenue increase in Q3 CY2020, sales flat at 699,402 units
Kia Motors Corporation today announced its business results for the third quarter of 2020. Third-quarter revenue increased 8.2 percent, year-on-year, to KRW 16.32 trillion (from KRW 15.09 trillion). Kia sold 699,402 vehicles around the globe in the July-September 2020 period, slightly lower than 702,258 units sold in the same period last year – -0.40 percent… Continue reading Kia records 8.2% revenue increase in Q3 CY2020, sales flat at 699,402 units
German Handelsblatt: Corona crisis: New Seat boss: VW subsidiary is heading into the red in 2020000619
Wayne Griffiths The new Seat boss has commented on the losses of his company. (Photo: AFP) Berlin According to its new boss, Wayne Griffiths, the Spanish VW subsidiary Seat will be in the red in 2020. “We will not recoup the losses that we incurred in the months of March to August this year. We… Continue reading German Handelsblatt: Corona crisis: New Seat boss: VW subsidiary is heading into the red in 2020000619
German Handelsblatt: Car manufacturer: VW will apparently assume the luxury car brand Bentley from 2021 to the subsidiary Audi000617
Bentley The luxury car brand belongs to the Volkswagen Group. (Photo: dpa) Berlin Volkswagen is pushing ahead with the restructuring of the group and, according to a report in “Automobilwoche”, will subordinate the British luxury brand Bentley to the Ingolstadt subsidiary Audi from 2021. Until now, the responsibility for Bentley on the VW group board… Continue reading German Handelsblatt: Car manufacturer: VW will apparently assume the luxury car brand Bentley from 2021 to the subsidiary Audi000617
German Handelsblatt: Climate protection: VW boss Diess calls for commitment from the auto industry to stricter EU climate targets000615
Herbert Diess The VW CEO assumes that the stricter CO2 limits will lead to the end of the combustion engine. (Photo: Reuters) Berlin The VW group demands a clear commitment from the automotive industry to the stricter climate targets in the European Union. “It is better for us to help shape the change now than… Continue reading German Handelsblatt: Climate protection: VW boss Diess calls for commitment from the auto industry to stricter EU climate targets000615
German Manager Magazin: Byton: Daniel Kirchert flees, and the Tesla rival will probably become part of FAW000266
At the beginning of January, Daniel Kirchert (47), head of the electrical start-up Byton, turned it up again at the electronics fair CES in Las Vegas. The former BMW manager presented the M-Byte electric SUV in front of a mega-screen, the cockpit with its 48-inch screen also impressed the competitors. Finally there is an alternative… Continue reading German Manager Magazin: Byton: Daniel Kirchert flees, and the Tesla rival will probably become part of FAW000266
German Manager Magazin: Tesla: Elon Musk achieves record sales, share with price jump000265
The US electric car manufacturerTeslahas been in the black for the fifth quarter in a row and has confirmed its ambitious annual targets. In the three months to the end of September, a net profit of 331 million dollars (279 million euros) was achieved, as the group of tech billionaire Elon Musk (49) announced on… Continue reading German Manager Magazin: Tesla: Elon Musk achieves record sales, share with price jump000265