Category: News Site

Uber CEO sees commercialisation of flying taxis in 5-10 years

TOKYO (Reuters) – Uber Technologies Inc Chief Executive Officer Dara Khosrowshahi said on Tuesday he can see commercialization of the Uber Air flying taxi service happening within five to 10 years. The U.S. ride-hailing app maker has said it expects flying vehicles to eventually become an affordable method of mass transportation. Khosrowshahi was speaking at… Continue reading Uber CEO sees commercialisation of flying taxis in 5-10 years

Exclusive: GM offers $2.2 billion debt for equity swap in return for Seoul’s support – sources

SEOUL (Reuters) – General Motors (GM.N) has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said. The restructuring proposal comes after the Detroit automaker announced last week that… Continue reading Exclusive: GM offers $2.2 billion debt for equity swap in return for Seoul’s support – sources

UPDATE 2-Japan’s Sony to form alliance to build taxi-hailing system

TOKYO (Reuters) – Sony Corp said on Tuesday it would become the latest blue-chip firm to jockey for position in Japan’s taxi and ride-hailing market, with plans for a joint venture to develop an artificial intelligence-based hailing system. Japan is seen as a potentially lucrative ride-hailing market, with regulators under pressure to ease stringent rules.… Continue reading UPDATE 2-Japan’s Sony to form alliance to build taxi-hailing system

Mitsubishi Corp considers raising stake in Mitsubishi Motors via tender offer

February 20, 2018 Trading house Mitsubishi Corp said on Tuesday it was considering raising its stake in Mitsubishi Motors via a tender offer, a deal that the Nikkei newspaper reported could be worth about $1.1 billion. Mitsubishi Corp said in a statement it was considering buying shares in the carmaker held by Mitsubishi Heavy Industries… Continue reading Mitsubishi Corp considers raising stake in Mitsubishi Motors via tender offer

Daimler Downplays Report on Rigged U.S. Emission-Test Software

Daimler AG sought to play down a newspaper report that its own engineers questioned the legality of software used to control diesel equipment in its vehicles, saying U.S. authorities knew about the allegations and haven’t taken action. Documents reported on by Bild am Sonntag have “selectively been released in order to harm Daimler and its 290,000… Continue reading Daimler Downplays Report on Rigged U.S. Emission-Test Software

Zoomcar Raises $40M in Series C Funding

Zoomcar India Pvt. Ltd, a Bengaluru, India-based self-drive car rental startup, raised $40M in Series C funding. The round was led by Mahindra and Mahindra Ltd (M&M) with participation from existing investors Ford Smart Mobility, Sequoia Capital, Empire Angels, Nokia Growth Partners, and others. The company, which has raised $85m to date, intends to use… Continue reading Zoomcar Raises $40M in Series C Funding

US investigators apparently find cheating software: Daimler should have tricked in diesel emissions tests

All articles and backgrounds 02/19/2018 US investigators apparently find cheating software Daimler is said to have tricked in diesel emissions tests DPA How clean are you really? US investigators are said to have found in diesel vehicles from Daimler fraudulent software Daimler threatens to get deeper into the maelstrom of the diesel exhaust scandal. For… Continue reading US investigators apparently find cheating software: Daimler should have tricked in diesel emissions tests

Bharat Forge to set up two plants for making EV and hybrid vehicle parts

Bharat Forge, the Pune-based multinational with a presence across automotive, power, oil and gas, construction and mining, rail, marine and aerospace, has confirmed plans for manufacture and export of parts for electric and hybrid vehicles. In May 2017, Autocar Professional had reported that Bharat Forge, the largest exporter of automotive components from India, was planning… Continue reading Bharat Forge to set up two plants for making EV and hybrid vehicle parts

Volvo Cars debuts three-cylinder engine in new XC40 compact SUV

Volvo Cars today launched its new three-cylinder Drive-E powertrain in the XC40, the company’s first entry into the compact SUV segment. The new powertrain is the first three-cylinder engine in the company’s 91-year history. The all-new 1.5-litre, three-cylinder, direct-injection petrol engine was developed in-house using the same modular design as Volvo’s four-cylinder Drive-E engines. The… Continue reading Volvo Cars debuts three-cylinder engine in new XC40 compact SUV