FRANKFURT: Germany’s BMW will target a group pre-tax profit of more than 10 billion euros ($11.9 billion) this year, finance chief Nicolas Peter told newspaper Handelsblatt on Tuesday, as the carmaker seeks to achieve double-digit margins in the long run. “We are striving to keep group pre-tax profit (margins) sustainably above 10 percent,” Peter said… Continue reading BMW targets group pre-tax margins of more than 10%
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Asia Digest: Baidu joins Vesper round; Hyundai CRADLE invests in Metawave
May 16, 2018 Asian investors have backed US-based startups with Baidu joining in advanced sensor developer Vesper’s Series B funding and car-maker Hyundai Motor’s corporate venture arm Hyundai CRADLE investing in Metawave Coporation. Baidu joins Vesper’s $23m Series B Boston-based advanced piezoelectric sensors developer Vesper has raised a $23 million Series B funding, led by… Continue reading Asia Digest: Baidu joins Vesper round; Hyundai CRADLE invests in Metawave
UPDATE 1-Tesla loses two top executives at energy unit – Bloomberg
(Reuters) – Tesla Inc’s (TSLA.O) energy unit has lost two major executives, Bloomberg reported on Tuesday, citing people familiar with the matter. The company logo is seen in front of a showroom of U.S. car manufacturer Tesla in Zurich, Switzerland March 28, 2018. REUTERS/Arnd Wiegmann Arch Padmanabhan, the product director for Tesla’s stationary storage unit,… Continue reading UPDATE 1-Tesla loses two top executives at energy unit – Bloomberg
Tesla plans six-day stoppage at factory for assembly line fixes: sources
SAN FRANCISCO (Reuters) – Tesla Inc (TSLA.O) will pause production at its California factory for six days at the end of the May to work on fixes to its assembly line for its new Model 3 sedan, sources inside the company told Reuters. A Tesla logo is seen in Los Angeles, California U.S. January 12,… Continue reading Tesla plans six-day stoppage at factory for assembly line fixes: sources
PSA tackles the 35-hour taboo
PSA continues to use opportunities offered by the Labor Law . The French car manufacturer has proposed to some 3,000 employees of its plant in Vesoul (Haute-Saone) to increase their working time from 35 hours to 37 hours 45 per week (an increase of 7.8%), in exchange for a wage increase of 2.8%. A project… Continue reading PSA tackles the 35-hour taboo
Magna to supply structural castings to JLR from new plant in the UK
Magna has opened an aluminium casting facility in Telford, England, which will supply structural castings to Jaguar Land Rover, a leading vehicle manufacturer in the UK and Magna’s long-time customer. The new facility is approximately 225,000 square feet and is expected to employ 300 people. Magna management was joined by Jaguar Land Rover executives and… Continue reading Magna to supply structural castings to JLR from new plant in the UK
Kia to launch new diesel 48V mild-hybrid powertrain in 2018
Kia Motors will introduce its first 48V diesel mild-hybrid powertrain in the second half of 2018. The new ‘EcoDynamics+’ powertrain reduces CO2 emissions by supplementing acceleration with electric power from an additional 48-volt battery and extending combustion engine ‘off time’ using a new Mild-Hybrid Starter-Generator unit. Kia Motors says EcoDynamics+ mild-hybrid technology offers a compelling… Continue reading Kia to launch new diesel 48V mild-hybrid powertrain in 2018
Faurecia wants to almost double in size by 2025
At the head of Faurecia just two years ago, Patrick Koller sees big for the automotive supplier. During a day investors, he unveiled Tuesday his medium-term ambitions: a turnover 30 billion euros in 2025, against 17 billion in 2017. A near-doubling, he hopes to achieve primarily through organic growth: he expects “only” 1.5 billion additional… Continue reading Faurecia wants to almost double in size by 2025
Tesla Model 3 software updates revealed
As Tesla has been working to ramp up assembly of its more affordable Model 3 sedan, the company has also been adding features to existing examples with its over the air software updates. We spoke with Tesla to learn the extent of updates and found five updates that have been rolled out to existing Model… Continue reading Tesla Model 3 software updates revealed
Keyless cars causing dozens of deaths
Dozens of people have been poisoned by carbon monoxide after failing to turn off the ignition on keyless cars, according to the New York Times. Its report found that 28 people had died and 45 others had suffered injuries since 2006. More than half of the 17 million vehicles sold annually in the US now… Continue reading Keyless cars causing dozens of deaths