Tesla is acquiring a German battery assembly line manufacturer supplying BMW and Mercedes-Benz, according to several reports. Over the last few years, Tesla has been on a buying spree of companies involved in manufacturing engineering and building machines for manufacturing, like Hibar Systems and Compass Automation. Now Tesla is reportedly adding another similar company as… Continue reading Tesla (TSLA) acquires German battery assembly line maker supplying BMW and Mercedes
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GM considers boosting stake in Nikola in reworked deal
General Motors Co. is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception. GM tentatively agreed to take an 11% stake in Nikola as part of a cash-free deal… Continue reading GM considers boosting stake in Nikola in reworked deal
Car trim company warns 130 jobs at risk
About 130 workers at a car trim plant in Monmouthshire could lose their jobs. Northern Automotive Systems in Gilwern is consulting staff on cutting over a third of the 320-strong workforce. Parent company NBHX said the site had made “considerable financial losses” in recent years, with market shifts due to Brexit also a factor in… Continue reading Car trim company warns 130 jobs at risk
Vertu Motors completes Sandicliffe Kia Nottingham dealership acquisition
Vertu Motors has completed the acquisition of Sandicliffe Motor Group’s Kia dealership in Nottingham. The newly-added site, on Vernon Rd, Old Basford, Nottingham, is the AM100 PLC’s third network addition with the Korean car brand completed so far in 2020. Taking to Twitter to announce the completion of the deal this lunch time, Vertu chief… Continue reading Vertu Motors completes Sandicliffe Kia Nottingham dealership acquisition
BorgWarner completes acquisition of Delphi Technologies
Eight months after it entered into a pact to acquire Delphi Technologies, BorgWarner Inc. today announced it has completed its acquisition. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take… Continue reading BorgWarner completes acquisition of Delphi Technologies
Mahindra & Mahindra celebrates 75th anniversary by launching new Thar
Mahindra & Mahindra today launched the new second-generation Thar on the occasion of its 75th anniversary. On October 2, 1945, ‘Mahindra & Mohammed’ was set up by brothers, JC and KC Mahindra along with Ghulam Mohammed. JC and KC Mahindra, the founders of Mahindra & Mahindra (Image: M&M). Mahindra Jeeps roll ouf the factory, ready… Continue reading Mahindra & Mahindra celebrates 75th anniversary by launching new Thar
Stockholm-based Einride raises €8.5 million to expand its freight service using driverless e-vehicles
Einride, a Swedish startup that develops and provides freight transport solutions using on electric and autonomous vehicles, today announced around €8.5 million Ericsson Venturesin new funding from existing investors led by impact fund, Norrsken VC. EQT Ventures, Nordic Ninja VC, Ericsson Ventures, and other investors also participated in the round. This new round will be used to fast track the official launch of its Einride Pods and meet the overwhelming demand from existing clients including Oatly, Lidl, and more.
Einride was founded in 2016 by Robert Falck, Linnéa Kornehed and Filip Lilja, and became one of the world’s first companies to operate a truly driverless, autonomous, all-electric freight vehicle on a public road. Recently, the company launched the Einride Mobility Platform, a cloud-native transport execution system for autonomous, electric and traditional road transportation. With the platform, customers can use real-time information and actionable insights to implement s..
GM, Nikola renegotiate as Nikola makes more leadership changes
General Motors is seeking a higher equity stake in Nikola Corp. in return for sharing its fuel cell and battery technologies as well as building the Badger, a heavy-duty electric pickup, for Nikola. Two people familiar with the deal told the Detroit Free Press that lawyers for GM and Nikola have been meeting daily. GM originally agreed to an 11% equity stake in Nikola,… Continue reading GM, Nikola renegotiate as Nikola makes more leadership changes
Tesla drops China-made Model 3 price by up to 10% as it introduces cheaper batteries
Tesla cut prices for its Chinese-market Model 3 sedans by up to 10%, as reported by Reuters. The company will outfit future standard-range Chinese-made Model 3s with cheaper, cobalt-free battery packs, anonymous sources told Reuters recently. Tesla did not confirm which batteries the standard-range car with the updated price currently uses. The basic Model 3… Continue reading Tesla drops China-made Model 3 price by up to 10% as it introduces cheaper batteries
Tesla (TSLA) increases Powerwall price as demand is through the roof
Tesla (TSLA) has increased the price of the Powerwall, its home battery pack, as demand is still through the roof. There are a lot of factors currently greatly increasing demand for home energy storage. Heatwaves are creating some instabilities on electric grids in the US, even forcing some rolling blackouts in California. Many people are… Continue reading Tesla (TSLA) increases Powerwall price as demand is through the roof