Chinese electric vehicle maker Bordrin Motor raised RMB2.5 billion ($361.85 million) in a new round of financing, led by Yin An Capital, an investment vehicle of state-owned Sinochem International Corporation, according to an announcement. The funding round also saw the participation of the company’s existing investors including Chinese private equity firm CGP Investment and Japanese… Continue reading China’s electric vehicle maker Bordrin Motor raises $361m from Sinochem, others
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Aptiv says proposed Mexico tariffs to cost $17 mln per month
(Reuters) – U.S. auto parts maker Aptiv Plc said on Tuesday if the Trump administration levied a 5% tariff on Mexican imports, it would cost the company $17 million per month. Speaking at an investor conference in Boston, company executives said Aptiv imports products worth a little over $3 billion a year from Mexico. U.S.… Continue reading Aptiv says proposed Mexico tariffs to cost $17 mln per month
Exclusive: Toyota tells U.S. dealers Mexico tariffs could cost suppliers up to $1 billion
FILE PHOTO: A carrier trailer transports Toyota cars for delivery while queuing at the border customs control to cross into the U.S., at the Otay border crossing in Tijuana, Mexico May 31, 2019. REUTERS/Jorge Duenes DETROIT (Reuters) – Toyota Motor Corp has told its U.S. dealers that it estimates tariffs on Mexican imports threatened by… Continue reading Exclusive: Toyota tells U.S. dealers Mexico tariffs could cost suppliers up to $1 billion
Enterprise Now Available in Sweden
This follows an agreement between Shared Mobility A/S and Enterprise Holdings to introduce the three brands to Sweden. Photo via Depositphotos. Enterprise Holdings today announced that its Enterprise Rent-A-Car, National Car Rental, and Alamo Rent A Car brands are now available in Sweden, with the official opening of its first location in Stockholm’s Arlanda Airport. The… Continue reading Enterprise Now Available in Sweden
Las Vegas Launches On-Demand Ridesharing Service
The service area covers the Las Vegas Strip between McCarran International Airport and Sahara Avenue, including the Las Vegas Convention Center with plans to expand to downtown Las Vegas and south to the M Resort in the near future. Photo via Tony Webster/Flickr. The Regional Transportation Commission of Southern Nevada (RTC) is offering a new way… Continue reading Las Vegas Launches On-Demand Ridesharing Service
Damage iD Introduces Side-By-Side Video Comparison
A special capability of the software is that two videos can be played at the same time, allowing the viewer to closely compare each frame for unnoticed damage or changes in the vehicle condition. Screenshot via Damage iD. Damage iD has launched side-by-side video comparison to enhance their customer’s ability to identify damage on their… Continue reading Damage iD Introduces Side-By-Side Video Comparison
Bird is launching an electric moped this summer
Scooter-sharing company Bird is adding an electric moped to fleets in “select markets” this summer. Called the “Cruiser,” it’s the first seated vehicle Bird has offered. The Cruiser can be used like a bike, with the electric motor offering assistance to make pedaling easier. But customers will also be able to simply ride with their… Continue reading Bird is launching an electric moped this summer
Unilever Ventures leads $10.5m funding in Indian grocery delivery startup Milkbasket
Unilever Ventures, the investment arm of consumer packaged goods company Unilever Plc, has led a $10.5-million investment in Gurgaon-based grocery delivery startup Milkbasket. Other investors who participated in the latest round of funding include Mayfield India, Kalaari Capital and Blume Ventures, besides a few Indian family offices. “While the industry is witnessing a number of… Continue reading Unilever Ventures leads $10.5m funding in Indian grocery delivery startup Milkbasket
UPDATE 2-Uber says IRS probing its 2013-14 tax returns
(Reuters) – The U.S. Internal Revenue Service is auditing Uber Technologies Inc’s taxes for 2013 and 2014 and the ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million. FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it’s IPO… Continue reading UPDATE 2-Uber says IRS probing its 2013-14 tax returns
Volkswagen’s Renk first in line of potential divestitures – sources
FRANKFURT (Reuters) – Volkswagen is expected to launch shortly the sale of transmissions maker Renk as the German carmaker streamlines operations to free up funds for investment in electric vehicles, people close to the matter said. The world’s largest carmaker last month announced a corporate restructuring. It has 12 brands spanning trucks, buses, motorbikes, cars… Continue reading Volkswagen’s Renk first in line of potential divestitures – sources