Category: Automotive

Veoneer posts smaller Q3 loss than expected as cost cuts bite

STOCKHOLM (Reuters) – Swedish auto technology group Veoneer (VNE.N) (VNEsdb.ST) on Wednesday reported a smaller-than-expected third-quarter operating loss, overshadowing a cut to its full-year organic sales forecast and sending shares sharply higher. The company, which makes radars, vision systems and software for advanced driver assistance systems and autonomous driving, said its quarterly operating loss grew… Continue reading Veoneer posts smaller Q3 loss than expected as cost cuts bite

EVgo Announces 40% Growth in Its California Fast Charging Network

“EVgo is enabling electric for all by building our fast charging stations in the places where EV drivers live, work and shop,” said Cathy Zoi, EVgo’s CEO. “EVgo’s California network will grow by 40% this year, and today, 80% of California EV drivers live within a 15-minute drive of one of 300 EVgo reliable and convenient fast… Continue reading EVgo Announces 40% Growth in Its California Fast Charging Network

China’s BAIC to launch intelligent cars under new brand: chairman

BEIJING (Reuters) – China’s Beijing Automotive Group Co (BAIC Group) [BEJINS.UL] will develop intelligent cars under a new brand, BEIJING, and hopes to cooperate with its partner Daimler on intelligent connected vehicle technologies, its chairman Xu Heyi said. BAIC launched its new BEIJING brand last week in the latest push to gain market share in… Continue reading China’s BAIC to launch intelligent cars under new brand: chairman

Groupe PSA: Q3 2019 Group revenue growth

RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News: Groupe PSA (Paris:UG) revenue amounted to €15,579 million in Q3 2019 compared to €15,428 million in Q3 2018. Automotive division revenue amounted to €11,824 million up by 0.1% compared to Q3 2018. A strong product mix (+4.4%) as well as positive price conditions (+1.0%) more than offset the decrease of sales… Continue reading Groupe PSA: Q3 2019 Group revenue growth

Groupe PSA Q3 2019 Results

Q3 2019 Group revenue growth Group Q3 revenue up 1% at €15.6 billion; Automotive division[1] revenue up 0.1% at €11.8 billion; New growth of market share in Europe : +0.1 pt[2] Groupe PSA revenue amounted to €15,579 million in Q3 2019 compared to €15,428 million in Q3 2018. Automotive division revenue amounted to €11,824 million… Continue reading Groupe PSA Q3 2019 Results

Exclusive: Datsun brand set to go as Nissan rolls back Ghosn’s expansionist strategy – sources

YOKOHAMA, Japan (Reuters) – Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said. FILE PHOTO: A worker walks near a Datsun logo… Continue reading Exclusive: Datsun brand set to go as Nissan rolls back Ghosn’s expansionist strategy – sources

Toyota’s luxury Lexus brand plans battery EV launch in 2020

FILE PHOTO: Toyota Motor Corp’s Lexus brand logo is displayed at the 44th Tokyo Motor Show in Tokyo, Japan, November 2, 2015. REUTERS/Issei Kato TOKYO (Reuters) – Toyota Motor’s (7203.T) Lexus will launch its first all-battery electric vehicle next year, as the luxury brand races to market a battery-operated car amid growing competition to develop… Continue reading Toyota’s luxury Lexus brand plans battery EV launch in 2020