The other investors in this round include Blume Ventures, Singapore based Jetty Ventures India Investments, and Udaan’s co-founder Sujeet Kumar. The funds will be used to launch its commercial EVs in key regions of the country and develop infrastructure for the smooth adoption of EVs, the company said in a statement. This is the first… Continue reading India: Euler Motors raises $2.67m as part of Series A funding
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BlaBlaCar partners with scooter startup Voi to launch new BlaBla Ride app
Long-distance ridesharing startup BlaBlaCar announced that it is expanding to scooter sharing. But the company isn’t going to operate its own fleet of scooters. Instead, BlaBlaCar is partnering with Voi, a European e-scooter service that has raised $136 million over multiple rounds. Voi operates in dozens of European cities, including Paris, Marseille and Lyon. Over… Continue reading BlaBlaCar partners with scooter startup Voi to launch new BlaBla Ride app
Daniel Abt fired from Audi’s Formula E team for using pro sim driver in virtual race
Audi fired Daniel Abt from its Formula E racing team after learning he had a professional sim driver race for him during a virtual competition called the “Race at Home Challenge” held over the weekend. The automaker said in a statement via Formula E that Abt had been suspended from Audi Sport “with immediate effect.”… Continue reading Daniel Abt fired from Audi’s Formula E team for using pro sim driver in virtual race
Location is everything for high-power DC fast charging
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France announces €8bn rescue plan for car industry
The French government has announced an €8bn (£7.1bn) rescue plan for its car industry, which has been severely impacted by the coronavirus pandemic. President Emmanuel Macron’s proposal includes €1bn to provide grants of up to €7,000 to encourage citizens to purchase electric vehicles. It also puts money toward investments to make France a centre for… Continue reading France announces €8bn rescue plan for car industry
French carmaker Renault to cut 5,000 jobs by 2024: Le Figaro
A logo of Renault carmaker is pictured at a dealership in Nantes, France, May 26, 2020. REUTERS/Stephane Mahe PARIS (Reuters) – French carmaker Renault (RENA.PA) is about to announce plans to cut 5,000 jobs by 2024 in its drive to save 2 billion euros ($2.20 billion) in costs, according to a report published Tuesday by… Continue reading French carmaker Renault to cut 5,000 jobs by 2024: Le Figaro
Exhaust scandal: Ex-Audi manager Hatz: The man who doesn’t want to know about anything
Wolfgang Hatz The former head of engine development at Audi and later Porsche board member has since been accused by the judiciary of fraud, among other things. (Photo: Â © argum / Thomas Einberger for Handelsblatt) Dusseldorf lockdown total. 23 hours a day in a small cell, in custody for nine months. There is probably… Continue reading Exhaust scandal: Ex-Audi manager Hatz: The man who doesn’t want to know about anything
Nissan plans $2.8bn cost cut, scaling back US factory
TOKYO — Nissan Motor plans to scrap a production line at one of its two U.S. auto assembly plants as part of an effort to cut 300 billion yen ($2.79 billion) in annual costs, Nikkei learned Tuesday. The closure of a line at the factory in Canton, Mississippi, is expected to reduce the Japanese automaker’s… Continue reading Nissan plans $2.8bn cost cut, scaling back US factory
Formula One carmaker McLaren cuts 1,200 jobs amid Covid-19 crisis
Automotive industry Group seeks to raise £275m after racing season and supercar sales ground to a halt Coronavirus – latest updates See all our coronavirus coverage McLaren hopes the British Grand Prix Formula One will go ahead in July. Photograph: David Davies/PA McLaren Group, the Formula One team owner and maker of supercars, is cutting… Continue reading Formula One carmaker McLaren cuts 1,200 jobs amid Covid-19 crisis
Infineon to raise 1 bln euros with capital increase
FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen at its Austrian headquarters in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner BERLIN (Reuters) – German chipmaker Infineon Technologies aims to raise about 1 billion euros ($1.1 billion) by issuing new shares to partially finance its $10 billion acquisition of U.S.-based Cypress Semiconductor, it said… Continue reading Infineon to raise 1 bln euros with capital increase