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Flying taxi startup Volocopter raises $55 million in round led by Volvo parent Geely

German air taxi startup Volocopter raised €50 million ($55.3 million) in a funding round led by Geely, the Chinese parent company of Volvo Cars, the company announced. The new funds will be put toward achieving Volocopter’s goal of launching a commercial air taxi service powered by its 18-rotor electric aircraft “within the next three years.”… Continue reading Flying taxi startup Volocopter raises $55 million in round led by Volvo parent Geely

Uber will spend $200 million to expand its Uber Freight trucking venture

Uber will invest $200 million and hire thousands of engineers to bolster its two-year-old long-haul trucking venture, Uber Freight, the company announced today. The expanded business will be headquartered in a newly opened office in downtown Chicago where it will house up to 2,000 engineers that Uber plans to hire over the next three years.… Continue reading Uber will spend $200 million to expand its Uber Freight trucking venture

UK electric car supplier Yasa eyes Europe plant after Brexit

UK electric car supplier Yasa eyes Europe plant after Brexit Read the most robust Brexit coverage: Unmatched number of scoops Expert opinion & regional perspectives Brexit briefing newsletter Choose your subscription Trial Not sure which package to choose? Try full access for 4 weeks For 4 weeks receive unlimited Premium digital access to the FT’s… Continue reading UK electric car supplier Yasa eyes Europe plant after Brexit

In August, Audi e-tron Sales In U.S. Declined

With less than 600 sales in August, e-tron took just 2.8% of Audi’s total sales volume. Audi reports that in August it delivered 593 e-tron to U.S. customers, which brings the total tally to 3,106 in less than five months. After the initial period, we can already notice the peak of 826 in May (the… Continue reading In August, Audi e-tron Sales In U.S. Declined

Hyundai Glovis car carrier listing off coast of U.S. state of Georgia

SEOUL (Reuters) – A South Korean cargo vessel carrying about 4,000 cars bound for the Middle East was listing heavily on Sunday off the coast of the southern U.S. state of Georgia, an official of operator Hyundai Glovis said. The U.S. Coast Guard said a pilot and 23 crew were aboard the Golden Ray when… Continue reading Hyundai Glovis car carrier listing off coast of U.S. state of Georgia

Nissan CEO Saikawa to step down on September 16

FILE PHOTO – Nissan CEO Hiroto Saikawa attends a news conference to release first quarter earnings at the company headquarters in Yokohama, Japan July 25, 2019. REUTERS/Issei Kato YOKOHAMA (Reuters) – Nissan Motor Co’s (7201.T) embattled chief executive will step down on Sept. 16 and will be temporarily replaced by Chief Operating Officer Yasuhiro Yamauchi,… Continue reading Nissan CEO Saikawa to step down on September 16

Renault boss Bolloré: “Electric car for 10,000 euros, there will be in five years”

REUTERS Renault boss Thierry Bolloré: “The prices for electric cars have to fall dramatically, that is a necessity” So far you have to spend at least around 20,000 euros for one electric car output. But RenaultCEO Thierry Bolloré expects that the Stromer will be available in the future for 10,000 euros. “We’re working on that,… Continue reading Renault boss Bolloré: “Electric car for 10,000 euros, there will be in five years”

Uber Eats to pull out of South Korea amid tough competition

FILE PHOTO: Uber Eats workers wait for orders in central Kiev, Ukraine July 31, 2019. REUTERS/Valentyn Ogirenko SEOUL (Reuters) – Uber Technologies Inc’s (UBER.N) restaurant delivery business will terminate its service in South Korea, Uber Eats said on Monday. Facing intense competition in the world’s No.4 online food delivery market, the U.S. company is struggling… Continue reading Uber Eats to pull out of South Korea amid tough competition

“Automotive industry has to prepare for two hard years”

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