Category: Automotive

UPDATE 1-Ford reaches tentative labor deal with United Auto Workers union

FILE PHOTO: 2020 Ford Explorer cars are seen at Ford’s Chicago Assembly Plant in Chicago, Illinois, U.S. June 24, 2019. REUTERS/Kamil Krzaczynski DETROIT (Reuters) – Ford Motor and the United Auto Workers union on Wednesday announced a tentative agreement for a new labor deal, allowing the No. 2 U.S. automaker to avoid a strike like… Continue reading UPDATE 1-Ford reaches tentative labor deal with United Auto Workers union

Lyft Announces Record Third Quarter Results

Third quarter revenue grew to $956 million, up 63% year-over-yearRaising outlook for fiscal 2019 SAN FRANCISCO, Oct. 30, 2019 (GLOBE NEWSWIRE) — Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its third quarter ended September 30, 2019.  “Our third quarter results demonstrated the significant progress Lyft has made on our path to profitability. Record revenue… Continue reading Lyft Announces Record Third Quarter Results

Honda to stop producing gasoline-only vehicles in Europe by 2022 – Sky News

By Ganesh Rao, business reporter Honda has announced plans to stop producing gasoline-only cars by 2022. The carmaker said it will “electrify” all of its models sold in Europe within the next three years – which includes making many models hybrid. Hybrid vehicles carry a traditional internal combustion engine as well as a battery pack.… Continue reading Honda to stop producing gasoline-only vehicles in Europe by 2022 – Sky News

Ford shutters oldest Brazil plant as revival bid faces doubts

FILE PHOTO: The Ford logo is seen at the Ford oldest Brazil plant in Sao Bernardo do Campo, Brazil September 3, 2019. REUTERS/Rahel Patrasso SAO PAULO (Reuters) – Ford Motor Co (F.N) on Wednesday said it was shutting down its oldest plant in Brazil later in the day as planned, with prospects for saving any… Continue reading Ford shutters oldest Brazil plant as revival bid faces doubts

Elon Musk says shifting SolarCity workers helped Tesla stay afloat

Jef Feeley and Dana Hull, Bloomberg Published 9:45 a.m. ET Oct. 30, 2019 | Updated 9:54 a.m. ET Oct. 30, 2019 Tesla Inc. chief executive officer Elon Musk said he shifted resources from the solar company he bought three years ago to save his electric-car company from bankruptcy while it was ramping up production of… Continue reading Elon Musk says shifting SolarCity workers helped Tesla stay afloat

GM appoints former AV, EV head to lead product development

General Motors Co.’s head of autonomy and electrification will now lead the Detroit automaker’s global product development, a move made as the automaker focuses its efforts on an electric future. GM has promoted Doug Parks from vice president of autonomous and electric vehicle programs to executive vice president of global product development, purchasing and supply chain, the automaker announced… Continue reading GM appoints former AV, EV head to lead product development

BMW i Ventures’ Investment in CelLink

The automotive wire harness—the mass of cables that supply power and, in some cases, data across the electronics in the car—is the biggest and heaviest component in an electric vehicle. When completely unfurled, it can span over a few miles long. Wire harnesses are necessary connectors across ever-complexifying electronic systems in vehicles today, powering everything… Continue reading BMW i Ventures’ Investment in CelLink

Autonomous Transportation-As-A-Service Startup CODE42 Raises USD 25 Million in Pre-A Funding

As lead investor, Kia Motors contributed USD 12.5 million to the deal. The USD 25 million investment marks one of the largest Pre-A rounds of funding for the Korean startup market, with past references typically ranging under USD 10 million. The newly raised funds will be utilized to complete development of CODE42’s core UMOS (Urban… Continue reading Autonomous Transportation-As-A-Service Startup CODE42 Raises USD 25 Million in Pre-A Funding