FILE PHOTO: The logo of Volkswagen is pictured at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy Nicholson/File Photo FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) said on Friday it had offered to buy out minority shareholders in its premium brand Audi AG (NSUG.DE), via a so-called squeeze-out offer. Volkswagen AG already… Continue reading VW offers to buy out minority shareholders in Audi
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Volkswagen Group’s operating profit soars 22% in 2019
The Volkswagen Group has released fiscal year 2019 numbers. Sales revenue increased by 16.8 billion euros to 252.6 billion euros and operating profit before special items rose to 19.3 (17.1) billion euros. At 7.6 (7.3) percent, the operating return on sales before special items slightly exceeded the forecasted range for 2019. Operating profit also improved to 17.0… Continue reading Volkswagen Group’s operating profit soars 22% in 2019
GM to add 1,200 jobs at Michigan plants to meet SUV demand
FILE PHOTO: The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August 25, 2009. REUTERS/Jeff Kowalsky/File Photo (Reuters) – No. 1 U.S. automaker General Motors Co (GM.N) said on Friday it plans to add more than 1,200 jobs at its Lansing plants in… Continue reading GM to add 1,200 jobs at Michigan plants to meet SUV demand
Gojek-Grab merger makes sense but hurdles mar its path
JAKARTA — Cutthroat rivals that have helped to drive Southeast Asia’s rapid digitization by burning through cash and preventing each other from moving toward the startup world’s new goal, profitability, are now talking about a common solution. Indonesia-based Gojek and Singapore-based Grab, have “casually” discussed merger options, according to two people familiar with the matter.… Continue reading Gojek-Grab merger makes sense but hurdles mar its path
Volkswagen defies car downturn as profits surge
World’s largest auto group enjoys earnings boost and increases dividend Go to Source
Pony.ai Raises $462M in Funding; Valued at $3 Billion
Pony.ai, a Fremont, California-based autonomous driving company, raised $462m in funding. The new round puts Pony.ai’s valuation at just over $3 billion. As part of it, Toyota Motor Corporation made a $400m investment. In August 2019, Pony.ai and Toyota initiated joint autonomous driving pilots in China. This year’s strategic investment will expand the partnership’s scope… Continue reading Pony.ai Raises $462M in Funding; Valued at $3 Billion
Group Renault to Launch Electric Carsharing Service in Paris
This launch in Paris is a new step in the partnership between Groupe Renault, a manufacturer of electric vehicles in Europe, and Ferrovial. Photo courtesy of Renault. Groupe Renault and Ferrovial, an operator of sustainable infrastructure, are launching ZITY, a free-floating, electric carsharing service in Paris. In March, a fleet of 500 all-electric Renault ZOE… Continue reading Group Renault to Launch Electric Carsharing Service in Paris
VW proposes 35% dividend increase as 2019 profit surges 22%
FILE PHOTO: The revised logo of German carmaker Volkswagen AG is pictured during a preview of the world’s biggest automaker at the international Frankfurt Motor Show IAA in Frankfurt, Germany September 9, 2019. REUTERS/Wolfgang Rattay FRANKFURT (Reuters) – Volkswagen Group (VOWG_p.DE) said its full-year operating profit rose 22% to 16.9 billion euros ($18.5 bln) thanks… Continue reading VW proposes 35% dividend increase as 2019 profit surges 22%
Volkswagen reaches $900 million deal with consumers over diesel scandal
FILE PHOTO: The logo of Volkswagen is pictured at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy Nicholson/File Photo HAMBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) and a major German consumer group said on Friday that they had reached an 830 million euro ($902.04 million) agreement in a class action lawsuit… Continue reading Volkswagen reaches $900 million deal with consumers over diesel scandal
Citroen Ami targets new era of car-sharing and urban mobility
The Citroen Ami is a quirky, electric two-seater that’s intended to propel Citroen into a new era of car-sharing and urban mobility. The French firm hopes that the Ami, which remains true to the Ami One concept shown a year ago, will appeal to a new generation of buyers as the appetite for more traditional entry-level cars, such as the… Continue reading Citroen Ami targets new era of car-sharing and urban mobility