June 2 (Reuters) – German automaker Volkswagen AG has closed its $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup disclosed in a blog post on Tuesday. Argo, founded in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by VW and Ford Motor Co, which made an initial investment in Argo… Continue reading VW closes $2.6 billion investment in self-driving startup Argo AI
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FCA picks CEO, chair for Comau robotics unit on way to PSA Group merger
CLOSE Fiat Chrysler Automobiles continues making plans for its expected merger with Peugeot-maker PSA Group. On Monday, the company announced another piece in that process — two key appointments — as it prepares to spin off its robotics unit, Comau, a move highlighted in its merger announcement in December. Paolo Carmassi, a former Honeywell executive,… Continue reading FCA picks CEO, chair for Comau robotics unit on way to PSA Group merger
Ford restarts all its operations south of the border, FCA adds shifts
CLOSE Ford knew its decision to build a new plant in Mexico would create a political firestorm on Tuesday, yet it forged ahead anyway. (Photo: Paul Sakuma, AP) Ford Motor Co. has restarted its plants in Mexico after weeks of shutdown due to the coronavirus, it said Monday. The automaker offered little detail on exactly… Continue reading Ford restarts all its operations south of the border, FCA adds shifts
Dealers advised to review property requirements
Dealers are being advised to review their property requirements following the impact of COVID-19. . Lower sales may mean fewer dealerships are required while social distancing and increased online sales will change the use of space. John Roberts, head of automotive and roadside at Colliers International, said dealers with leasehold dealerships need to be talking… Continue reading Dealers advised to review property requirements
Dealers see spike in enquiries prior to opening today
Dealers saw a spike in levels of digital enquiries for new and used cars in late May Digital enquiries into dealers across the UK during May were 16.5% behind 2019 levels. It marked a significant improvement from April, which saw a drop of 61.5% on 2019, according to lead management company Dealerweb. James Hill, managing… Continue reading Dealers see spike in enquiries prior to opening today
BMW India resumes operations post temporary suspension due to lockdown
The company continues to see an increase in demand for 3 Series, X1 and Mini Countryman, it added. German luxury carmaker BMW on Monday said it has resumed operations in accordance with the government guidelines. Consumers can once again safely explore and experience the complete range of BMW, MINI and BMW Motorrad products at company… Continue reading BMW India resumes operations post temporary suspension due to lockdown
Major Aston Martin shareholder cuts stake in British carmaker
FILE PHOTO: Aston Martin Lagonda cars are parked outside the new factory at Saint Athan, Wales, Britain December 6, 2019. REUTERS/Rebecca Naden (Reuters) – A top Aston Martin (AML.L) shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday. Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake… Continue reading Major Aston Martin shareholder cuts stake in British carmaker
Fiat Chrysler to list robot-making business after PSA merger
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo MILAN (Reuters) – Fiat Chrysler (FCA) (FCHA.MI) said it planned to list robot making business, giving more detail on Monday about the future of Turin-based Comau, which it already planned to… Continue reading Fiat Chrysler to list robot-making business after PSA merger
Valencia-based Zeleros raises €7 million to lead the development of hyperloop in Europe
The Spanish startup Zeleros Hyperloop has just completed a financing round worth more than €7 million. Founded in 2016, the young company starts a new and important phase in the development of its unique version of hyperloop, the “fifth mode of transport”, the best alternative for the future to connect efficiently and sustainably long-distance routes for passenger and cargo transportation. Connections like Paris to Berlin could be reduced to less than an hour.
The fresh capital comes from Altran, Grupo Red Eléctrica and also strategic investors at national and international level, including among others Goldacre Ventures (UK), Road Ventures (Switzerland), Plug and Play (USA), and the Spanish Angels Capital and MBHA. The new funds will be used to impulse further development of Zeleros’ hyperloop vehicle and its core technologies, which place them as the best alternative to cover efficiently routes between 400 and 1,500 kilometers in distance, with special benefits such as the reduction..
Opel to add PSA model to Ruesselsheim production: Handelsblatt
The logo of a German car manufacturer Opel is seen at a branch in Herisau, Switzerland October 16, 2018. REUTERS/Arnd Wiegmann FRANKFURT (Reuters) – German automaker Opel is planning to start manufacturing a compact car for French parent PSA at its main Ruesselsheim plant from mid-2021 onwards, German business daily Handelsblatt reported, citing company sources.… Continue reading Opel to add PSA model to Ruesselsheim production: Handelsblatt