Category: Automotive

Uber Says Driverless Cars Can Only Happen in Lockstep With Regulators – Yahoo Finance

Uber Says Driverless Cars Can Only Happen in Lockstep With Regulators More Eric Meyhofer, the head of Uber’s advanced technology group, dispelled any notion on Thursday that driverless cars are a pipe dream or laughable relics from an old Jetsons cartoon. Subscribe to Skift newsletters covering the business of travel, restaurants, and wellness. Go to… Continue reading Uber Says Driverless Cars Can Only Happen in Lockstep With Regulators – Yahoo Finance

Tesla rival Nio is recalling around 4,800 vehicles after 3 caught fire

The Chinese electric-vehicle startup Nio is recalling 4,803 ES8 SUVs following reports of three vehicles catching fire. The company announced the recall Thursday in a post on its website, saying an issue with an old version of their battery packs had the potential to cause a short circuit. Vehicles produced after October 20, 2018, have… Continue reading Tesla rival Nio is recalling around 4,800 vehicles after 3 caught fire

BMW executive calls EVs ‘overhyped’ at company event about EVs

BMW executive and board member Klaus Fröhlich told reporters this week that the shift to cars powered by electricity is “overhyped,” and said that there is “no” consumer demand for them. Curiously, Fröhlich made these comments at an event where BMW proudly announced it will accelerate plans to release 25 cars that are partially or… Continue reading BMW executive calls EVs ‘overhyped’ at company event about EVs

Used car marketplace Motorway picks up £11M Series A

Motorway, the U.K. used car marketplace, has raised £11 million in Series A funding. Leading the round is Marchmont Ventures, the fund managed by Hugo Burge and Alan Martin (the former CEO and CFO of Momondo Group, respectively), along with participation from existing backer LocalGlobe. Founded by the team behind Top10 — the mobile and… Continue reading Used car marketplace Motorway picks up £11M Series A

Hyundai axes plans to develop its flagship dealership in London

Hyundai Motor (UK) has pulled the plug on plans to develop its flagship dealership in Brentford adjacent to the M4. It said it had axed the development to focus on “the improvement of business efficiencies ensuring sustainable growth for the future.” Avison Young and TT&G Partners have been instructed to sell the freehold interest in… Continue reading Hyundai axes plans to develop its flagship dealership in London

MONET forms capital and business partnerships with Isuzu, Suzuki, Subaru, Daihatsu and Mazda

MONET Technologies Inc.Isuzu Motors LimitedSuzuki Motor CorporationSubaru CorporationDaihatsu Motor Co., Ltd.Mazda Motor CorporationHino Motors, Ltd.Honda Motor Co., Ltd. MONET Technologies Inc. (“MONET”) today announced that it concluded capital and business partnership agreements with Isuzu Motors Limited (“Isuzu”), Suzuki Motor Corporation (“Suzuki”), Subaru Corporation (“Subaru”), Daihatsu Motor Co., Ltd. (“Daihatsu”) and Mazda Motor Corporation (“Mazda”), respectively.… Continue reading MONET forms capital and business partnerships with Isuzu, Suzuki, Subaru, Daihatsu and Mazda

NAVYA signed a memorandum of understanding with ESMO Corporation

To build a strategic partnership to address the North East Asia market, NAVYA signed a memorandum of understanding with ESMO Corporation Commitment by ESMO Corporation to subscribe to bonds repayable in cash or into new or existing shares (ORNANE) for a total consideration of€20 million Villeurbanne, France, June 28, 2019 – 8:00 am CEST –… Continue reading NAVYA signed a memorandum of understanding with ESMO Corporation

Electric carmaker NIO recalls 4,803 vehicles

China’s electric car startup NIO recalled 4,803 ES8 vehicles, about one-third of the company’s first batch for delivery, Beijing Youth Daily reported on Friday.Starting from June 27, the company recalled the 4,803 ES8 electric vehicles with power battery packs manufactured between April 2, 2018, and Oct 19, 2018.The power battery pack used in the vehicle within this recall range is equipped with a module of the specification model NEV-P50, which has the voltage sampling harness in an improper position, where it could cause a fire.