Days after raising $500 million via a strategic investment from travel giant Booking Holdings, Chinese ride-hailing giant Didi Chuxing has continued its international push with the launch of a local business in Japan. Its new Japan-based unit is a joint venture with SoftBank, a longtime Didi investor, which has been in the works since an announcement back… Continue reading China’s Didi Chuxing is close to launching a taxi-booking service in Japan
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Volvo juggling XC60 production to avoid U.S. tariffs – CEO
PARIS, July 19 (Reuters) – Volvo Cars (IPO-VOLVO.ST) is shifting XC60 SUV production for the U.S. market to Europe from China to avoid Washington’s new tariffs on Chinese imports, the Swedish carmaker said. Volvo, owned by China’s Geely, currently builds the compact XC60 in Sweden for European customers and in China for other markets including… Continue reading Volvo juggling XC60 production to avoid U.S. tariffs – CEO
Asahi Kasei to buy U.S. Sage Automotive for $1.06 bln
TOKYO (Reuters) – Japan’s Asahi Kasei Corp (3407.T) said on Thursday it would buy U.S. car interior maker Sage Automotive Interiors for $1.06 bln, including debt. Asahi Kasei said the acquisition is aimed at strengthening its position in the car interior market. It said it would disclose the impact of the acquisition on its earnings… Continue reading Asahi Kasei to buy U.S. Sage Automotive for $1.06 bln
Big bang at the German Continental
Eleven years after its acquisition of Siemens VDO for more than 11 billion euros, the German Continental is preparing to partially cede these activities. With 40,000 employees for a turnover The transmission division (Powertrain) is expected to be listed on the stock market from mid-2019 as part of a major reorganization, the second-largest German automotive… Continue reading Big bang at the German Continental
ID Buzz and Crozz: Volkswagen wants to build electric cars in the US
Volkswagen wants to produce the US production versions of its electric cars ID Buzz and Crozz in the USA. Mass production vehicles could not be imported. But that does not mean that the vehicles are built exclusively there. July 19, 2018, 7:25 am, Andreas Donath Volkswagen ID Buzz (Image: Volkswagen) Volkswagen wants the electric models… Continue reading ID Buzz and Crozz: Volkswagen wants to build electric cars in the US
Dockless bikeshare service Ofo reportedly laying off most of US workforce
Ofo bikes in Seattle. (GeekWire Photo / Monica Nickelsburg) Ofo, the dockless bikesharing service in Seattle and dozens of other U.S. cities, is shutting down most of its U.S. operations according to The Wall Street Journal, Forbes, and other reports. News of the layoffs reportedly came from Ofo’s Beijing headquarters. Bikesharing has become a saturated… Continue reading Dockless bikeshare service Ofo reportedly laying off most of US workforce
Graveyard shift: Manual transmissions on the way out
Robert Duffer, Chicago Tribune Published 12:00 a.m. ET July 19, 2018 Manual transmissions account for just 2 percent of all vehicles sold in the United States in 2018, according to data from Edmunds.com. (Photo: Robert Duffer / TNS) The tween riding in the back seat finally asked, “What is that thing you keep moving up… Continue reading Graveyard shift: Manual transmissions on the way out
SoftBank Vision Fund leads $121m Series D funding in imaging firm Light
July 19, 2018 Camera technology company Light has announced the closing of a $121 million Series D funding round led by the SoftBank Vision Fund, with participation from Leica Camera AG. The SoftBank Vision Fund investment will be made in tranches, subject to certain conditions, the company said in an official release. Founded in 2013… Continue reading SoftBank Vision Fund leads $121m Series D funding in imaging firm Light
Volvo’s new Polestar 2 electric-car will start at $40,000 and have a range of 350 miles per charge
The Tesla Model 3 will see a direct rival from Volvo Cars’ newly minted Polestar brand, and the first details about the electric car have come out. Speaking to Autocar, Polestar COO Jonathan Goodman said the second Polestar model, fittingly called Polestar 2, will boast up to a 350-mile range, up to 405 horsepower, and… Continue reading Volvo’s new Polestar 2 electric-car will start at $40,000 and have a range of 350 miles per charge
Aston Martin ‘sports car for the skies’
Luxury carmaker Aston Martin has unveiled plans for a personal aircraft dubbed a “sports car for the skies”. The company has teamed up with jet engine maker Rolls-Royce and engineering boffins at Cranfield University on the futuristic project. A concept aircraft was unveiled at the Farnborough Airshow, but the consortium hopes to have a flying… Continue reading Aston Martin ‘sports car for the skies’