CLOSE Ford and Rivian put their plans on ice to jointly develop a Lincoln-brand electric vehicle, a Lincoln spokeswoman confirmed on Tuesday. Ford said the current economy has created new and unexpected challenges, so this particular project is being postponed, said Angie Kozleski, Lincoln spokeswoman. The environment is changing rapidly. Just as any prudent business would do, we… Continue reading Ford kills Rivian deal with Lincoln (for now) amid economic challenges during pandemic
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Ford cancels Lincoln electric vehicle program with Rivian
Lincoln Motor, the luxury brand under Ford, has canceled plans to build an all new electric vehicle based on Rivian’s skateboard platform. Crain’s Detroit reported that dealers were informed Tuesday. Rivian and Ford said in a statement sent to TechCrunch that this was a mutual decision based on the current environment, which was meant to… Continue reading Ford cancels Lincoln electric vehicle program with Rivian
Lincoln, Rivian cancel plans to co-develop EV because of pandemic
Ford Motor Co. and Plymouth-based electric vehicle startup Rivian Automotive LLC have canceled plans to develop a new electric vehicle for the Lincoln luxury brand because of the COVID-19 outbreak, the companies told dealers Tuesday. The SUV would have been Lincoln’s first fully electric vehicle. But with plants likely to be shut down for about… Continue reading Lincoln, Rivian cancel plans to co-develop EV because of pandemic
Fiat Chrysler ‘re-evaluating’ May 4 resumption date
Fiat Chrysler Automobiles NV on Monday said it is delaying indefinitely its plans to resume vehicle production in North America. It previously said it would progressively ramp up manufacturing starting May 4. “In light of the updated state stay in place orders, the Company is re-evaluating its plans to resume its North American operations and… Continue reading Fiat Chrysler ‘re-evaluating’ May 4 resumption date
FreeWire Technologies raises $25 million in new financing
FreeWire Technologies, a provider of “power solutions for the grid edge,” has closed a $25-million Series B and venture debt financing round, which was led by existing investor BP Ventures, together with new investors ABB Technology Ventures and Energy Innovation Capital. The financing will support the commercialization of FreeWire’s fast charging technologies. The company’s solutions… Continue reading FreeWire Technologies raises $25 million in new financing
Mitsubishi Motors seeks $2.8bn in loans
TOKYO — Mitsubishi Motors has requested 300 billion yen ($2.8 billion) in financing from domestic and foreign lenders as the coronavirus pandemic clouds the outlook for the auto industry, Nikkei learned Tuesday. This total includes 200 billion yen from Japanese private- and public-sector financial institutions. The automaker is in talks for a syndicated loan from… Continue reading Mitsubishi Motors seeks $2.8bn in loans
Nissan forecasts up to $886m annual net loss
TOKYO — Nissan Motor downgraded its earnings forecast for the fiscal year ended March to a net loss of as much as 95 billion yen ($886 million), as the company continues to be hit severely by the impact of the novel coronavirus crisis. The Japanese carmaker announced on Tuesday that its net income could be… Continue reading Nissan forecasts up to $886m annual net loss
Ford set to restart main European car factories on Monday 4 May
Automotive industry Production will begin slowly with UK plants remaining shut until later in the spring An employee works on the production line at the Ford plant in Saarlouis, Germany, in 2007. It is set to reopen on Monday 4 May. Photograph: Ralph Orlowski/Getty Images Ford said it would restart its main European car factories… Continue reading Ford set to restart main European car factories on Monday 4 May
Inceptio: money for autonomous trucks
The Chinese startup Inceptio has raised $ 100 million for its automated truck concept. In China, the introduction of autonomous driving using robot taxis is currently starting on several fronts. Has exemplified this AutoX recently announced its launch in the AutoNavi app. Other Chinese start-ups, too WeRide or Pony.ai forge on this plan. The Chinese… Continue reading Inceptio: money for autonomous trucks
Geely & Caocao Chuxing: robot taxis from 2021
Another start-up from China is planning to launch the robot taxi service commercially: Caocao Chuxing. AutoX has just started its robot taxi service in Shanghai. The start-up WeRide wants to start next year and Pony.ai wants to be ready for the market in five years. These startups are not the only ones and most are… Continue reading Geely & Caocao Chuxing: robot taxis from 2021