Chinese electric vehicle company NIO, backed by Tencent Holdings Ltd., has filed confidentially for a planned U.S. initial public offering, according to media reports citing insiders. The Shanghai-based car maker, with a valuation of roughly US$5 billion when it last raised funding seven months ago, has submitted an initial confidential filing with the U.S. Securities… Continue reading Tencent-Backed Chinese EV Firm NIO Files Confidentially For US IPO
Category: Automotive
Press Releases – EU vehicle manufacturers express concern on US investigation into auto imports
Brussels, 28 May 2018 – The European Automobile Manufacturers’ Association (ACEA) has expressed its concern regarding the initiation by the United States of a national security investigation into imports of motor vehicles and auto parts. “Automobile manufacturers active in both Europe and the US are truly global players with interests in both regions,” stated ACEA… Continue reading Press Releases – EU vehicle manufacturers express concern on US investigation into auto imports
VW has to throttle production
From September on, only cars whose consumption has been measured using the new WLTP process may be sold. That does not create Volkswagen in all models – and expects delivery bottlenecks. VW plant in Wolfsburg Sunday, 27.05.2018 15:01 clock When converting to the new exhaust test standard WLTP calculates Volkswagen at its core brand with… Continue reading VW has to throttle production
VW stops manufacturing major diesel models
Production problems at VW: The car manufacturer suspends the production of several diesel models, for the widespread 2.0 TDI engine, a software update must be developed. VW TDI engine 2.0 Saturday, 26.05.2018 19:04 clock Volkswagen has a temporary production stop for important dieselimposed models and wants to fix a false one. As the group confirmed… Continue reading VW stops manufacturing major diesel models
Tata Motors stops production of Indica and Indigo
Launched in 1998, the Tata Indica has been the frontrunner of Tata Motors’ PV line-up. NEW DELHI: Home-grown automaker Tata Motors has stopped the production of its compact sedan Indigo and compact hatchback Indica impacted by low sales and stiff competition in the segment, according to a company executive close to the develoment. However, the… Continue reading Tata Motors stops production of Indica and Indigo
Electric cars: Post delivers 200 street scooters to British milkmen
Street scooter of Deutsche Post With the vehicle, Swiss Post has become a leading manufacturer of electric transporters. (Photo: AP) DüsseldorfDie German postal serviceSubsidiary Streetscooter sells for the first time electric van on a large scale to a single customer abroad. The British company Milk & More has ordered 200 of the electric vehicles, said… Continue reading Electric cars: Post delivers 200 street scooters to British milkmen
End of 35 hours, negotiations open at PSA factory in Vesoul
The bargaining meeting will open Tuesday, May 29 at 1:30 pm between the management of PSA Vesoul and the trade unions. In mid-May, the management proposed a local agreement to increase the actual working time by 7.8%, from 7 hours to 7 hours 33 per day, or from 35 hours to 37 hours 45 per… Continue reading End of 35 hours, negotiations open at PSA factory in Vesoul
Mahindra Reaffirms its Commitment to South Africa with the Establishment of Local Assembly Facility
Mahindra Reaffirms its Commitment to South Africa with the Establishment of Local Assembly Facility Durban facility to assemble full Pik Up range enhancing local employment and skills Planned at the Dube Tradeport SEZ Company aims to source up to 40% of value locally Company aspires to leverage SA as base for future African exports Durban,… Continue reading Mahindra Reaffirms its Commitment to South Africa with the Establishment of Local Assembly Facility
Mercedes-Benz reaches 100,000 cars production milestone in India
NEW DELHI: India’s largest luxury car manufacturer Mercedes-Benz on Monday celebrated a historic milestone of rolling-out one lakh cars for the Indian market. The 100,000th car, which is an E-Class, rolled-out from the assembly line of company’s manufacturing facility at Chakan, by Roland Folger, Managing Director and CEO, Mercedes-Benz India and Piyush Arora, Executive Director,… Continue reading Mercedes-Benz reaches 100,000 cars production milestone in India
Grab launches a food delivery service in Southeast Asia
Fresh from completing its acquisition of Uber’s Southeast Asia business, ride-hailing firm Grab has officially launched its food delivery business — GrabFood — today. The service is already available in beta in a handful of countries, including Thailand, but now it is available in Singapore (Grab HQ) with plans to reach Grab’s core six markets… Continue reading Grab launches a food delivery service in Southeast Asia