The Chinese electric-vehicle startup Nio is recalling 4,803 ES8 SUVs following reports of three vehicles catching fire. The company announced the recall Thursday in a post on its website, saying an issue with an old version of their battery packs had the potential to cause a short circuit. Vehicles produced after October 20, 2018, have… Continue reading Tesla rival Nio is recalling around 4,800 vehicles after 3 caught fire
Category: News Site
BMW executive calls EVs ‘overhyped’ at company event about EVs
BMW executive and board member Klaus Fröhlich told reporters this week that the shift to cars powered by electricity is “overhyped,” and said that there is “no” consumer demand for them. Curiously, Fröhlich made these comments at an event where BMW proudly announced it will accelerate plans to release 25 cars that are partially or… Continue reading BMW executive calls EVs ‘overhyped’ at company event about EVs
Used car marketplace Motorway picks up £11M Series A
Motorway, the U.K. used car marketplace, has raised £11 million in Series A funding. Leading the round is Marchmont Ventures, the fund managed by Hugo Burge and Alan Martin (the former CEO and CFO of Momondo Group, respectively), along with participation from existing backer LocalGlobe. Founded by the team behind Top10 — the mobile and… Continue reading Used car marketplace Motorway picks up £11M Series A
Hyundai axes plans to develop its flagship dealership in London
Hyundai Motor (UK) has pulled the plug on plans to develop its flagship dealership in Brentford adjacent to the M4. It said it had axed the development to focus on “the improvement of business efficiencies ensuring sustainable growth for the future.” Avison Young and TT&G Partners have been instructed to sell the freehold interest in… Continue reading Hyundai axes plans to develop its flagship dealership in London
NAVYA signed a memorandum of understanding with ESMO Corporation
To build a strategic partnership to address the North East Asia market, NAVYA signed a memorandum of understanding with ESMO Corporation Commitment by ESMO Corporation to subscribe to bonds repayable in cash or into new or existing shares (ORNANE) for a total consideration of€20 million Villeurbanne, France, June 28, 2019 – 8:00 am CEST –… Continue reading NAVYA signed a memorandum of understanding with ESMO Corporation
In brief: Ola to invest in Avail, add microfinance products
The ride-hailing firm is set to join the fintech startup’s series A fundraise as part of a wider strategic partnership. Go to Source
Five automakers back Toyota’s and Softbank’s self-driving business
Sponsored Links Engadget Tech companies and automakers have been setting differences aside and merging forces in hopes of getting themselves a piece of the self-driving pie as early as possible. Late last year, Toyota and Softbank teamed up to establish a joint venture called Monet. Now, their partnership is getting a boost from five new… Continue reading Five automakers back Toyota’s and Softbank’s self-driving business
Lyft expands bike rentals to Washington DC
Sponsored Links ASSOCIATED PRESS Lyft has expanded beyond traditional rideshare and into other areas like car rentals and transport to and from events. Now, it is updating its app to provide bike-sharing services in the Washington, DC area through Capital Bikeshare, joining New York and San Francisco in offering both cycles and cars from a… Continue reading Lyft expands bike rentals to Washington DC
Ionity to expand EV fast charger network at Extra services
EV charging network Ionity, backed by BMW, Daimler, Ford and the VW Group, has partnered with Extra MSA Group to expand its network of fast chargers at motorway service stations across the UK. Up to six 350kW fast chargers will be installed at eight Extra’s motorway service areas, starting this year with the company’s £60m Skelton Lake,… Continue reading Ionity to expand EV fast charger network at Extra services
ChargePoint teams up with MVV Energie to expand in Germany
FRANKFURT, June 28 (Reuters) – Silicon Valley-based ChargePoint, one of the world’s largest operators of charging stations for electric vehicles, said it had teamed up with local German utility MVV Energie to further expand in Europe’s largest economy. ChargePoint will sell its charging equipment via MVV’s sales channels, while MVV, headquartered in the German city… Continue reading ChargePoint teams up with MVV Energie to expand in Germany