Category: News Site

Carlos Ghosn exit must not affect Nissan-Renault alliance, says Japan

Nissan Trade minister calls for alliance to remain stable and hopes companies can begin talks Under the cross-shareholding structure of the alliance, Renault is the dominant partner despite Nissan contributing more profits. Photograph: Tomohiro Ohsumi/Getty Images Japan’s trade minister has said the carmaking alliance between Nissan and Renault must continue after the final departure of… Continue reading Carlos Ghosn exit must not affect Nissan-Renault alliance, says Japan

Wiesmann to return in 2018 with BMW V8 engines – Autocar

German retro sports car brand Wiesmann is to return in 2018 with a new model, powered by a BMW M division-sourced V8 engine. The brand made the announcement on its website, following an announcement earlier this year about the appointment of a new CEO, Mario Spitzner.  The only details of the new model to be… Continue reading Wiesmann to return in 2018 with BMW V8 engines – Autocar

German manufacturer Wiesmann closes its doors – AutoExpress

Reports indicate that Wiesmann, the outlandish sport car maker based in north-west Germany, has collapsed. The company went into administration in August 2013 after being unable to pay its suppliers, and despite efforts to salvage the brand and save the jobs of 125 employees, a buyer could not be found to take responsibility for Wiesmann’s… Continue reading German manufacturer Wiesmann closes its doors – AutoExpress

Swedish investment firm Anders Hedin Invest acquires Pendragon share

Shares in Pendragon closed 1.3% up on Wednesday (January 23) after Swedish investment company Anders Hedin Invest bought a 9.24% share in the AM100’s former number one retail group. Combined with shares acquired by the firm’s owner, Anders Hedin, the Swedish business now holds a 9.35% share of Pendragon. Shares in Pendragon closed up 1.3% at… Continue reading Swedish investment firm Anders Hedin Invest acquires Pendragon share

Go-Jek makes first close of $2 billion round at $9.5 billion valuation

Southeast Asia-based ride-sharing firm Go-Jek is making progress with its plan to raise up to $2 billion in fresh capital to fund its battle with close rival Grab. Indonesia-headquartered Go-Jek has closed an initial chunk of that round after a collection of existing investors, including Google, Tencent and JD.com, agreed to invest around $920 million towards… Continue reading Go-Jek makes first close of $2 billion round at $9.5 billion valuation

Hyundai Motor to cut China jobs, review optimization plans after sales slump

FILE PHOTO: Hyundai cars leave a plant of Hyundai Motor Co in Beijing, China, August 30, 2017. REUTERS/Thomas Peter SEOUL (Reuters) – Hyundai Motor (005380.KS) said its Chinese joint venture is accepting voluntary retirements from employees and reviewing various “optimization plans” at its factories in the country, following a slump in car sales. China, the… Continue reading Hyundai Motor to cut China jobs, review optimization plans after sales slump

Costa Rica Proposes Law to Legalize, Tax Ride-Hailing

When registering to operate in Costa Rica, ride-hailing companies would have to pay a registration fee of about $13,800,000. Photo via dconvertini/Flickr.  Lawmakers in Costa Rica have proposed legislation that would allow taxi companies and ride-hailing platforms to operate together “under fair conditions of competition,” according to the Tico Times. The bill put forward by the… Continue reading Costa Rica Proposes Law to Legalize, Tax Ride-Hailing

Zipcar to End Service in 3 European Cities

Previously, Zipcar’s director blamed the high rate of car ownership in the city for company’s poor performance.  Photo via GoToVan/Wikimedia.  Avis-owned Zipcar will be ending service Brussels, Paris, and Barcelona, the Brussels Times reports. Zipcar, which started operations in Brussels in 2016 and currently has a fleet of 250 vehicles, said that it experienced “disappointing results”… Continue reading Zipcar to End Service in 3 European Cities

Hyundai Motor to cut China jobs after sales slump

FILE PHOTO: Hyundai cars leave a plant of Hyundai Motor Co in Beijing, China, August 30, 2017. REUTERS/Thomas Peter SEOUL (Reuters) – Hyundai Motor said on Friday that its Chinese joint venture is accepting voluntary retirements from employees, after its sales slumped. “Hyundai Motor is reviewing various optimization plans to enhance facility efficiency around the… Continue reading Hyundai Motor to cut China jobs after sales slump