Category: Automotive

STRIVE, ITOCHU invest in Japanese flying car developer SkyDrive’s $14m round

Japanese flying car developer SkyDrive has secured $14 million in a fresh funding round, which will finance the startup to carry out flight tests with humans on board. Tokyo-based venture capital firm STRIVE III Limited Liability Partnership and ITOCHU Technology Ventures, the venture capital arm of Japanese ITOCHU Corporation, poured money into the new round.… Continue reading STRIVE, ITOCHU invest in Japanese flying car developer SkyDrive’s $14m round

CEO David Krane suggests GV could sell the rest of its Uber stake at the end of its lockup period next month

Today at TC’s Disrupt show in San Francisco, we took the stage with David Krane, a longtime veteran of Google who took the reins as the CEO of its venture arm, GV,  three years ago but hasn’t spoken publicly since. We asked him why he’s been in hiding before diving into some questions about Uber… Continue reading CEO David Krane suggests GV could sell the rest of its Uber stake at the end of its lockup period next month

GM can withstand losses of UAW strike — because of what it stands to gain

CLOSE UAW Local 598 members sing during 50th anniversary of 1969 strike at Fisher Body Plant 2 in Flint while remembering he longest strike in GM history. Ryan Garza, Detroit Free Press Some analysts estimate the UAW’s nationwide strike against General Motors has cost the company about $1 billion so far. But GM can withstand the… Continue reading GM can withstand losses of UAW strike — because of what it stands to gain

Videos showing Tesla’s Smart Summon feature doing bizarre things have gotten the NHTSA’s attention (TSLA)

The National Highway Traffic Safety Administration (NHTSA) is looking into Tesla‘s Smart Summon feature, Reuters‘ David Shepardson first reported. Smart Summon allows Tesla vehicles with the most robust version of the Autopilot driver-assistance system to drive in parking lots without anyone in the car. NHTSA is aware of reports related to Smart Summon and is… Continue reading Videos showing Tesla’s Smart Summon feature doing bizarre things have gotten the NHTSA’s attention (TSLA)

Behind the GM strike: Declining productivity at U.S. operations

(Reuters) – General Motors Co’s U.S. workforce productivity has declined since the automaker recovered from a 2009 bankruptcy, even as its profit per employee has risen, a Reuters analysis shows. Those trends point to some of the root causes of the United Auto Workers (UAW) strike that has shut down the automaker’s U.S. manufacturing plants… Continue reading Behind the GM strike: Declining productivity at U.S. operations

Fiat Chrysler Manager Faces U.S. Fraud Charges on Diesel Emissions

A senior manager at Fiat Chrysler Automobiles has been charged with conspiring to rig diesel-emissions tests on the automaker’s vehicles, according to a grand jury indictment unsealed on Tuesday. The charges come months after the company agreed to a costly legal settlement of lawsuits over the deception. Federal prosecutors are charging Emanuele Palma, a manager… Continue reading Fiat Chrysler Manager Faces U.S. Fraud Charges on Diesel Emissions

UAW cites ‘significant progress’ in talks with Ford as GM strike, negotiations continue

Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT – As the United Auto Workers and General Motors continue negotiations to potentially end an 18-day strike against the automaker, the head of… Continue reading UAW cites ‘significant progress’ in talks with Ford as GM strike, negotiations continue

Auto Trader buys £5.5m-turnover KeeResources software group

Auto Trader Group has bought KeeResources for an undisclosed sum. KeeResources  provides software, data and services to the automotive industry, including a detailed vehicle taxonomy dataset for new and used cars which Auto Trader uses to power its platform. The group had £800,000 operating profit and £5.5m turnover in 2018. Auto Trader CEO-designate, Nathan Coe, said: “KeeResources has… Continue reading Auto Trader buys £5.5m-turnover KeeResources software group