Category: News Site

Turo Lands $250 Million in New Funding

Turo is now the largest peer-to-peer rental company after $250 million Series E funding. Screenshot via Turo.  IAC, an American holding company with brands across 100 countries, mostly in media and internet, has invested $250 million in Series E funding in Turo, the largest peer-to-peer rental company. Andre Haddad, Turo’s CEO, reported the news on… Continue reading Turo Lands $250 Million in New Funding

Drivezy crosses $4m in monthly GMV, launches franchise business

Bengaluru-based car and bike hire company Drivezy India Travels Pvt. Ltd has crossed monthly gross merchandise volume (GMV) of $4 million (about ₹27 crore), according to a top company executive. The company’s fleet comprises 15,000 bikes and 4,000 cars. “We net around 22% of the $4-million monthly GMV,” said Drivezy’s chief executive Ashwarya Singh over… Continue reading Drivezy crosses $4m in monthly GMV, launches franchise business

Indonesia Digest: GOJEK introduces insurance feature; Blibli launches streaming app

GOJEK has introduced a new insurance platform dubbed Go-Sure while e-commerce site Blibli has launched a live streaming app. GOJEK introduces insurance feature Go-Sure  Ride-hailing unicorn GOJEK has introduced a new insurance feature, Go-Sure, in partnership with insurance technology startup PasarPolis. Go-Sure feature is still in Beta stage and is not yet available to all… Continue reading Indonesia Digest: GOJEK introduces insurance feature; Blibli launches streaming app

REFILE-UPDATE 1-Volvo Cars to cut costs as trade war dents profits

STOCKHOLM (Reuters) – Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability. FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front… Continue reading REFILE-UPDATE 1-Volvo Cars to cut costs as trade war dents profits

Volvo Cars to cut costs as trade war dents profits

STOCKHOLM (Reuters) – Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability. FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front… Continue reading Volvo Cars to cut costs as trade war dents profits

UPDATE 1-Volvo Cars to cut costs as trade war dents profits

STOCKHOLM (Reuters) – Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability. FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front… Continue reading UPDATE 1-Volvo Cars to cut costs as trade war dents profits

Volvo Cars launches cost cutting measures as trade war dents profit again

FILE PHOTO: A Volvo logo is seen at a car dealership in Vienna, Austria, May 30, 2017. REUTERS/Heinz-Peter Bader/File Photo STOCKHOLM (Reuters) – Sweden’s Volvo announced new measures to cut fixed costs by 2 billion Swedish crowns ($214 million) on Thursday, as it became the latest carmaker to warn that pricing pressure and tariffs arising… Continue reading Volvo Cars launches cost cutting measures as trade war dents profit again

Toyota locks in more than a supply of EV batteries in deal with China’s CATL

Toyota needs more than a secure and steady supply of batteries if it hopes to meet its ambitious global sales goal for electric vehicles. If it hopes to compete, the Japanese automaker will need better quality lithium-ion batteries that don’t squeeze profit margins. The automaker is turning to Chinese EV battery supplier CATL for the… Continue reading Toyota locks in more than a supply of EV batteries in deal with China’s CATL

BMW ReachNow car-sharing service shuts down in Seattle and Portland following joint venture deal

BMW’s ReachNow will shut down today. (GeekWire Photo / Kurt Schlosser) Peace out, ReachNow. BMW’s car-sharing service abruptly ceased operation Wednesday, ending a mobility program that included 1,000 free-floating vehicles used by more than 100,000 members across Seattle and Portland. A spokesperson confirmed that ReachNow offices in those two cities will close in the next… Continue reading BMW ReachNow car-sharing service shuts down in Seattle and Portland following joint venture deal