Category: Automotive

1st year of Taxify South Africa

Taxify recently celebrated its 1st birthday in South Africa after launching back in 2016! Over this short period, Taxify has had a great impact on the way they have been moving riders across the country. What happened within the first year: Taxify Expanded to 3 of South Africa’s biggest cities within 6 months of launch.… Continue reading 1st year of Taxify South Africa

Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike

Mobike is in the process of acquiring a smaller peer, Xiamen city-based UniBike, for an undisclosed amount of money; the first merger deal in China’s red-hot bike sharing industry, according to local media reports citing insiders. In response to China Money Network’s inquiry, Mobike representative Chen Qian said the information is not accurate, but refused… Continue reading Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike

PSA boss Tavarez expects to hit the black by 2020

It starts troubled time for Opel. CEO Karl-Thomas Neumann is on the go, and the future head boss Carlos Tavares calls a clear deadline for the jump into the profit zone. Opel plant in Kaiserslautern Monday, 12.06.2017 11:25 clock The car manufacturer Opel must after a Acquisition by the French PSA Group quickly head for… Continue reading PSA boss Tavarez expects to hit the black by 2020

Panasonic Displayed Advanced Technologies Driving Power Innovation at PCIM 2017 in Germany – Power Electronics Focus

Nuremburg, Germany – Panasonic Automotive & Industrial Systems Europe showcased its latest technology portfolio at PCIM, the main power electronics trade show in Nuremberg from May 16 – 17, 2017. PCIM Europe comprehensively covers the power electronics market. 465 German and international companies from the areas power electronics, intelligent drive technology, renewable energies and energy… Continue reading Panasonic Displayed Advanced Technologies Driving Power Innovation at PCIM 2017 in Germany – Power Electronics Focus

China’s Baidu Rumored To Lead $140M Round In Electric Vehicle Start-up WM Motor

Chinese Internet company Baidu Inc. is reportedly leading a new funding round of roughly RMB1 billion (US$140 million) in WM Motor, an electric vehicle start-up founded by Freeman Shen, the former chairman of Volvo Car Group China. Tencent Holdings Ltd., which also backs WM Motor’s rival NIO, is reportedly aiming to co-lead the round, according… Continue reading China’s Baidu Rumored To Lead $140M Round In Electric Vehicle Start-up WM Motor

China’s Tencent Reported To Lead $1B Round In Chinese EV Firm NIO

Chinese Internet giant Tencent Holdings Ltd. has led a new funding round worth over US$1 billion in NIO, a Shanghai-based electric vehicle company founded by a top Chinese automobile executive. A number of investors including U.K.-based Baillie Gifford, American Lone Pine Capital, China’s CITIC Capital and China Asset Management Ltd. also participated in the round,… Continue reading China’s Tencent Reported To Lead $1B Round In Chinese EV Firm NIO

Ford, Zotye Automobile To Establish China Electric Vehicle Joint Venture

Ford Motor Co has signed a memorandum of understanding with China’s Anhui Zotye Automobile Co., Ltd. to jointly manufacturing all-electric vehicles in China. Under the agreement, a 50-50 joint venture will develop, produce, market and service a new line of all-electric passenger vehicles. The vehicles will be marketed under an indigenous brand name owned by… Continue reading Ford, Zotye Automobile To Establish China Electric Vehicle Joint Venture

BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round

Chinese car maker Beijing Automotive Group’s (BAIC Group) electric vehicle business unit, BAIC BJEV, has raised a RMB11.1 billion (US$1.6 billion) series B round from 14 investors, including state-owned enterprises China Cinda Asset Management Co., Ltd. and Zhongji Investment, a firm co-founded by the Hebei provincial government. The round values BJEV at RMB28 billion (US$4.2… Continue reading BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round