Category: Automotive

World’s Largest Battery Maker Seeks $2 Billion In IPO, But Will Raise Only $850 Million?

11 M BY MARK KANE Contemporary Amperex Technology Ltd. (CATL), one of the biggest manufacturers of lithium-ion batteries for vehicles, would like to raise 13.1 billion yuan ($2 billion) by selling a 10% stake, at a valuation of about $20 billion. However, according to Bloomberg, after profitability weakened, the company is valuated at just $8.5… Continue reading World’s Largest Battery Maker Seeks $2 Billion In IPO, But Will Raise Only $850 Million?

Germany: Opel and IG Metall agree

After months of negotiations, the Opel management and the IG Metall union-controlled works council came to an agreement in principle on the future of the sites of the German subsidiary of PSA. In exchange for additional wage efforts and a staff reduction capped at 3,700 out of 19,000 in Germany, the staff obtained a backup… Continue reading Germany: Opel and IG Metall agree

Tesla Model 3 drives 606 miles on a single charge in hypermiling record

It only took 32 hours of continuous driving in sweltering temperatures, but two Colorado residents have set a new “hypermiling” record by driving their Tesla Model 3 606.2 miles (975 km) on a single charge. It beat a previous record of 560 miles from a Tesla Model S P100D, but it fell slightly short of… Continue reading Tesla Model 3 drives 606 miles on a single charge in hypermiling record

Fisker’s comeback powered by new battery

“We are going to see a huge disruption in mobility. We will see a large amount of new type of vehicles emerge, which will make 20 or 30, or 40 percent of our time more efficient”Henrik Fisker Automotive design maven Henrik Fisker’s new venture might be less about the automobile than the technology that will… Continue reading Fisker’s comeback powered by new battery

FAURECIA SHAREHOLDERS’ MEETING – COMPOSITION OF THE BOARD OF DIRECTORS, DIVIDEND OF €1.10 PER SHARE AND PLAN TO CONVERT FAURECIA INTO A EUROPEAN COMPANY

All the resolutions were adopted at Faurecia’s Annual Shareholders’ Meeting held in Paris today under the chairmanship of Michel de Rosen. The shareholders approved the decision taken by the Board of Directors on October 12 to appoint Valérie Landon to the Board. Following the resignation of Jean-Pierre Clamadieu, effective at the close of the meeting,… Continue reading FAURECIA SHAREHOLDERS’ MEETING – COMPOSITION OF THE BOARD OF DIRECTORS, DIVIDEND OF €1.10 PER SHARE AND PLAN TO CONVERT FAURECIA INTO A EUROPEAN COMPANY

Car manufacturer: Works council and management of Opel agree on restructuring package

Opel The refurbishment concept for the car manufacturer stands. (Photo: AP) Hamburg works council and management of Opel have agreed on the reorganization of the loss-making car manufacturer. As part of the compromise agreed on Tuesday, the French parent company PSA says Peugeot Citroën Investments in new models and the utilization of the works too.… Continue reading Car manufacturer: Works council and management of Opel agree on restructuring package

Geofencing technology demonstration in Stockholm

Tue, May 29, 2018 19:45 CET (Stockholm, Sweden, May 29, 2018) – Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety system, today announced that Veoneer, its electronics business, today participated in a geofencing urban environment technology demonstration in Stockholm, Sweden. Geofencing refers to a geographic zone where the entry, speed… Continue reading Geofencing technology demonstration in Stockholm

Fiat Chrysler investors want electric road map in CEO’s swan song

MILAN/LONDON (Reuters) – Fiat Chrysler (FCA) (FCHA.MI) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world’s seventh-largest carmaker remains in the race in the absence of a merger. FILE PHOTO: FCA CEO Sergio Marchionne addresses the media during a… Continue reading Fiat Chrysler investors want electric road map in CEO’s swan song

INTERVIEW -Not enough time for tech customs solution to Brexit – Aston Martin

By Costas Pitas GAYDON, England, May 29 (Reuters) – The boss of carmaker Aston Martin warned it was probably too late to roll out the kind of technology needed for the post-Brexit customs plan that is favoured by many British eurosceptics. Chief Executive Andy Palmer told Reuters that getting the technology in place would cost… Continue reading INTERVIEW -Not enough time for tech customs solution to Brexit – Aston Martin