Category: News Site

China passenger car sales in May mark first gain in 2 years

SHANGHAI — New-vehicle sales in China have increased the past two months, recording 14.5% annual growth in May to 2.194 million units and stoking optimism in the world’s largest auto market, which had slumped due to the coronavirus pandemic. The news reflects continued growth in the sector, which rose 4.4% in April. The figure for May… Continue reading China passenger car sales in May mark first gain in 2 years

JIFFY.ai Raises $18M in Series A Funding

JIFFY.ai, a Palo Alto, CA-based automation and no-code app development platform for global enterprise companies with a focus on finance and operations, raised $18M in Series A funding. The round was led by Nexus Venture Partners with participation from Rebright Partners, W250 Venture Fund (founded by alumni of the Stanford Executive Program) and a number… Continue reading JIFFY.ai Raises $18M in Series A Funding

Ford’s electric F-150 will go on sale in 2022

Ford has spent the last few years promising it will make an all-electric version of its extremely popular pickup truck, the F-150. Now the company is saying it will go on sale by the middle of 2022 — what’s expected to be the biggest year for new vehicle launches in decades, according to a new… Continue reading Ford’s electric F-150 will go on sale in 2022

Madrid-based Ontruck secures €17 million for its digital freight platform

Spanish startup Ontruck, one of Europe’s leading digital road freight platforms, has secured an investment round of €17 million led by OGCI Climate Investments (OGCI CI). Existing Ontruck investors, Cathay Innovation, Atomico, Idinvest Partners and Total Carbon Neutrality Ventures, participated in the round, with Endeavor Catalyst joining as a new investor.

Founded in 2016, Ontruck is a digital road freight platform that uses technologies to reduce the number of empty kilometers travelled by goods vehicles, making road transportation more efficient and sustainable for both truckers and companies. The startup’s zero-touch load matching of shipments to carriers has fully automated 90% of loads in main regions while providing greater flexibility for shippers by assuring 100% capacity even in urgent situations. This is done using data algorithms to predict peak demand, routing shipments to maximize carrier utilisation, and dynamic pricing to balance the marketplace.

To date, Ontruck has ..

Nissan will not extend contracts for 250 workers

Nearly 250 temporary workers at Nissan’s plant in north-east England will not have their contracts extended, the car firm has announced. Production resumed earlier this month at the factory in Washington, Sunderland, but the car maker said demand for its vehicles was low. It said it was adjusting production “to meet market demands”. “Given current… Continue reading Nissan will not extend contracts for 250 workers

Passenger vehicle volumes to plunge to 10-year low in FY2021: CRISIL

Ratings agency CRISIL expects passenger vehicles (PVs) sales volume (including exports1) to plunge by 22-25% this fiscal to a decadal low of ~26.5 lakh units. That would mark the second straight year of double-digit volume decline after the 15% fall seen in fiscal 2020.    Yet the credit quality of most passenger vehicle (PV) makers… Continue reading Passenger vehicle volumes to plunge to 10-year low in FY2021: CRISIL

Uber, Lyft drivers now considered employees under California law

FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. Picture taken December 12, 2019. REUTERS/Luisa Gonzalez/File Photo (Reuters) – The California Public Utilities Commission (CPUC) said drivers under Transportation Network Companies (TNCs), which include ride-hailing services such as Uber Technologies Inc (UBER.N) and Lyft Inc (LYFT.O), would be considered… Continue reading Uber, Lyft drivers now considered employees under California law

Renault nationalisation, state cash injection not on the table: chairman

FILE PHOTO: A logo of Renault carmaker is pictured at a dealership amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – A further investment by the French government in Renault’s (RENA.PA) capital would not be the most pertinent or useful use of state resources, the carmaker’s chairman… Continue reading Renault nationalisation, state cash injection not on the table: chairman

Renault’s Senard says relations with Nissan much improved

FILE PHOTO: Chairman of Renault SA Jean-Dominique Senard attends a news conference at French carmaker Renault headquarters in Boulogne-Billancourt, near Paris, France, October 11, 2019. REUTERS/Charles Platiau PARIS (Reuters) – Renault (RENA.PA)’s partnership with Japan’s Nissan (7201.T) has entered an “incredibly positive” phase after episodes of strained relations in recent years, the French carmaker’s chairman… Continue reading Renault’s Senard says relations with Nissan much improved