Category: News Site

VW decides against building plant in Turkey: Automobilwoche

FILE PHOTO: The logo of German car maker Volkswagen is seen on a car outside a garage in Vienna, Austria, Sept. 29, 2016. REUTERS/Leonhard Foeger/File Photo FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) has decided against building a new factory in Turkey, car industry publication Automobilwoche said on Wednesday, citing sources at the German carmaker. In October… Continue reading VW decides against building plant in Turkey: Automobilwoche

Maruti Suzuki India sells 51,274 units in June, improves on May numbers

Passenger vehicle market leader Maruti Suzuki India has reported improved numbers in June compared to May. It has posted total sales of 51,274 units in the domestic market in June 2020. On a year-on-year basis, the June sales numbers are down 54 percent compared to June 2019 when the car maker clocked sales of 111,014 units. Maruti… Continue reading Maruti Suzuki India sells 51,274 units in June, improves on May numbers

Geely’s Volvo announces its biggest ever recall over seat belt cable

FILE PHOTO: The Volvo logo is seen on a new XC60 model in a showroom near the Volvo Car Corporation Headquarters in Gothenburg May 20, 2010. REUTERS/Bob Strong STOCKHOLM (Reuters) – Volvo Cars said on Wednesday it was recalling nearly 2.2 million cars built between 2006 and 2019 to address a potential issue with cables… Continue reading Geely’s Volvo announces its biggest ever recall over seat belt cable

$70 Million Financing Keeps Workhorse’s Share Surge Humming

Parked Workhorse van More Shares of Workhorse Group Inc. (NASDAQ: WKHS) continued their ascent after the company announced a new $70 million financing agreement. The designer and maker of electric vehicles and truck-mounted delivery drones entered into a financing agreement with institutional investor, HT Investments (High Trail Capital), for a $70 million senior secured convertible… Continue reading $70 Million Financing Keeps Workhorse’s Share Surge Humming

Truck Maker Aiming for 400 Vehicle Sales Is Worth $1 Billion

(Bloomberg) — Shares of Workhorse Group Inc., a maker of electric delivery vehicles, are surging as investors bet the Trump administration will want the company and a fellow Ohio-based affiliate to succeed. Workhorse’s stock soared as much as 38% on Tuesday after the company announced it had secured $70 million in financing from an institutional… Continue reading Truck Maker Aiming for 400 Vehicle Sales Is Worth $1 Billion

Green Motion Expands in Albania

Tirana Airport is ready welcome back international tourists who are expected to flock to the country once the relevant restrictions are gradually eased. Photo via Depositphotos. Green Motion is continuing its worldwide expansion with the opening of a new on-terminal location at Tirana International Airport in Albania.  Having acquired the Green Motion franchise just over… Continue reading Green Motion Expands in Albania

Japan and Britain aim for trade deal by end-July

The issue of automobiles is among Japan’s major interests. TOKYO: Japan and Britain aim to clinch a trade deal by the end of July and Tokyo wants to secure at least the same automobile tariffs as it has in its existing European Union trade pact, Tokyo’s chief negotiator said. Japan’s Foreign Minister Toshimitsu Motegi and… Continue reading Japan and Britain aim for trade deal by end-July

Elementary Robotics Raises $12.7M in Series A Funding

Elementary Robotics, a Los Angeles, CA-based robotics startup, raised $12.7M in Series A funding. The round was led by Threshold Ventures (formerly DFJ) with participation from existing investors Fika Ventures, Fathom Capital, Ubiquity Ventures and Toyota AI Ventures. With this round, Threshold Ventures Partner Mo Islam has joined the Elementary Robotics Board of Directors. The… Continue reading Elementary Robotics Raises $12.7M in Series A Funding