The two companies Elite Transportation Services (ETS) and Local Motors cooperate. ETS is expanding its Autonomous Driving portfolio to provide operational management for the brand’s autonomous shuttles Local Motors, Local Motors model sees an electric minibus (Olli), which drives at low speed and the public transport should complement. In addition, the providers are bustling in… Continue reading ETS & Local Motors
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Nissan to launch Datsun brand in Pakistan
Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Choose the subscription that is right for you Read more For 4 weeks receive unlimited Premium digital access to the FT’s trusted, award-winning business… Continue reading Nissan to launch Datsun brand in Pakistan
A Terrible Tuesday for Tesla’s Stock, But Watch the Bonds
March 28, 2018, 7:30 AM EDT
Tesla gets downgraded at Moody’s (TSLA)
Bobby Yip/Reuters Moody’s cut Tesla’s corporate rating one notch to B3. The rating agency cited the “significant shortfall” in the production rate of its Model 3 sedan as reason for the downgrade. Moody’s warned it could downgrade Tesla further if it falls behind on production targets. (IFR) – Tesla saw its bonds and stocks fall… Continue reading Tesla gets downgraded at Moody’s (TSLA)
Uber Middle-East rival Careem in early talks to raise $500m in fresh funding
March 28, 2018 Middle East ride-hailing app Careem is in early talks to raise as much as $500 million in new funds from investors, sources told Reuters. Careem, Uber’s rival in the region, is checking the appetite of potential investors and hopes to secure its targeted $500 million in a new funding series, three sources… Continue reading Uber Middle-East rival Careem in early talks to raise $500m in fresh funding
Opel wants to postpone wage increases
The tariff increase won by the trade union IG metal could come later for Opel coworkers: According to a report, the repairing automaker wants to spend the money. Opel factory premises in Rüsselsheim (archive) Wednesday, 28.03.2018 12:17 clock Apparently the automaker wants Opel a pending tariff increase temporarily not pay. Trade unions confirmed a report… Continue reading Opel wants to postpone wage increases
Faurecia signs the biggest contract in its history
In an armchair. Faurecia is “proud” to announce on Wednesday the signing of the largest contract in its history. The PSA-controlled automotive supplier sold six million car seats at once to German BMW. In the coming years, the French group will manufacture, assemble and deliver just-in-time complete seats or seating structures that will integrate into… Continue reading Faurecia signs the biggest contract in its history
Works council threatens strikes
At Opel, there is growing concern that the future parent company could reduce PSA jobs. The works council therefore demands “court-proof” guarantees – and signals how far it would go for it. Transparent in front of the Opel headquarters in Rüsselsheim Monday, 27.03.2017 17:00 o’clock Wolfgang Schäfer-Klug wants security – and as fast as possible.… Continue reading Works council threatens strikes
Franchised dealers see 19% fall in vehicles for servicing
UK franchised dealers saw a significant year-on-year decline in aftersales business in 2017, according to data from electronic vehicle health check provider autoVHC The company, which sampled 500 UK dealers, found that over the 12 month period the average dealer saw 3,320 vehicles presented at its service department, a 19% drop from the 4,080 vehicles… Continue reading Franchised dealers see 19% fall in vehicles for servicing
(2nd LD) Hyundai Motor to streamline governance structure
(ATTN: ADDS details throughout) SEOUL, March 28 (Yonhap) — Hyundai Motor Group, South Korea’s biggest automotive conglomerate, said Wednesday it will streamline its overall governance structure through business spinoffs and mergers between related businesses. The business group said it is planning to spin off the module manufacturing and after-sales parts business of auto parts maker… Continue reading (2nd LD) Hyundai Motor to streamline governance structure