SHANGHAI, April 30 (Reuters) – Chinese electric vehicle developer Faraday Future said on Tuesday that it had obtained up to $225 million in bridge financing from a U.S. merchant bank to allow it to complete the development of its flagship FF91 model. Faraday, which has ambitions to overtake Tesla Inc, said in November that it… Continue reading China electric car firm Faraday Future says obtains $225 mln in bridge financing
Category: Automotive
UK van sector delivers £56 billion pay-packet to British workers, finds new research
Innovate in Britain: UK government & auto industry have jointly invested more than US$640m (£500m) in CAV R&D and t… https://t.co/AwpNeIdEit
British car manufacturing falls -14.4% in March as industry warns no-deal Brexit could send output back to 1980s levels
Innovate in Britain: UK government & auto industry have jointly invested more than US$640m (£500m) in CAV R&D and t… https://t.co/AwpNeIdEit
Daimler Aims For 3 MW Charging For Electric Trucks
3 MW is comparable to 1,000 base 3 kW charging stations for cars or 1,000 households. Daimler Trucks North America, in one of its job listings, seeks an eMobility Senior Engineer – Vehicle Charging Systems (L5), which would participate in the development of very high power charging systems for electric trucks at up to 3 MW.… Continue reading Daimler Aims For 3 MW Charging For Electric Trucks
Paris-based shipping and logistics startup Fretlink lands €25 million to expand its range of services
Paris-based Fretlink connects shippers to the largest hub of local carriers in Europe, helping them to secure, manage, and optimize their transportation plans, while helping carriers to drive their business growth. For those of you who are joining us at the EU-Startup Summit on May 2-3 in Barcelona, Fretlink Co–Founder & CEO Paul Guillemin will be joining us to speak on our Future of Transportation panel.
Founded in 2015, the road transit specialist has just raised €25 million in a Series B round from the corporates Edenred and TIP, as well as existing investors including Daphni, Elaia Partners, Breega Capital, The Family, SGH Capital and Tekton Ventures. Also participating in the round was the Weaving Invest fund and the business angel F Grinda.
Edenred has a sector dedicated to mobility, and more specifically, fleet management, while TIP specializes in leasing industrial vehicles, with more than 70,000 trucks in Europe. These two new investors should allow Fretlink to enrich its of..
Samsung Electronics first-quarter profit falls 60% on-year as weak chip prices bite
FILE PHOTO: Attendees at Samsung Electronics Co Ltd’s Unpacked event test out the company’s new devices in San Francisco, California, U.S., February 20, 2019 REUTERS/Stephen Nellis SEOUL (Reuters) – Samsung Electronics Co Ltd posted a 60 percent drop in first-quarter operating profit on Tuesday, hit by falls in chip prices and slowing demand for display… Continue reading Samsung Electronics first-quarter profit falls 60% on-year as weak chip prices bite
Justice Department investigating Ford emissions certifications
2017 Ford GT originally commissioned by John Cena – Image via Mecum Auctions
Some 2017 and newer Ford vehicles may have illegally polluted more than the company claimed during emissions certifications, and the company admitted Friday that criminal investigators were looking into the matter.
The disclosure that the U.S. Department of Justice began investigating the Ford vehicles in February was made during the company's routine report to securities officials Thursday. In February, Ford told environmental officials about the irregularities.
“(Ford) has become aware of a potential concern involving its U.S. emissions certification process. This matter currently focuses on issues relating to road load estimations, including analytical modeling and coastdown testing. The potential concern does not involve the use of defeat devices…” the company wrote in its quarterly filing to the SEC. “We voluntarily disclosed this matter to the U.S. Environmental Protection Agency and the California Air Resources Board on February 18, 2019 and February 21, 2019, respectively. Subsequently, the U.S. Department of Justice opened a criminal investigation into the matter. In addition, we have notified a number of other state and federal agencies. We are fully cooperating with all government agencies.”
In February, Ford said it was investigating emissions certifications for cars, trucks, and SUVs that it submitted to the EPA. It said it would begin a new certification procedure with the Ranger pickup, which went on sale earlier this year.
DON'T MISS: Ford invests $500M in Rivian to tackle Tesla, future electric vehicles
Kim Pittel, Ford's VP of environmental and safety engineering, said the company was made aware of the emissions issues in September 2018 via an employee tip line.
“In September, a handful of employees raised a concern through our Speak Up employee reporting channel regarding the analytical modeling that is part of our U.S. fuel economy and emissions compliance process,” she said.
As a result, the company hired an outside agency to investigate the claims.
Thursday's admission by Ford was the first time that the company acknowledged that federal justice officials were also looking into the issue.
In the past, Ford has made similar missteps regarding fuel consumption and efficiency. In 2014, the automaker paid millions to Ford and Lincoln vehicle owners for misstated fuel economy ratings, mostly for hybrid vehicles.
Since then, federal regulators have cracked down on automakers who misstate or falsify emissions information.
NEW LAND ROVER DEFENDER REACHES 1.2 MILLION KILOMETRE TEST AND DEVELOPMENT MILESTONE
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An auto exec who was ahead of the curve on electric cars explains what he sees as the biggest opportunity in the self-driving industry – Business Insider
In some ways, Tony Posawatz is the forgotten man of the electric-car revolution. The longtime auto executive oversaw the launch of the Chevy Volt in 2011, ushering in a critical transitional vehicle. The Volt served up about 50 miles of all-electric range before switching to a small gas motor to make more juice, overcoming “range… Continue reading An auto exec who was ahead of the curve on electric cars explains what he sees as the biggest opportunity in the self-driving industry – Business Insider
Testing Geely’s Geometry A electric vehicle – Top Gear Philippines
What is that? ‘That’ is a new electric car. A sentence you’ll likely be hearing many times over from here on in, as China—and indeed The World—increases its grip on the increasingly diversified (or homogenous? You choose) playground of battery-powered automobiles. This one however, is aiming its lithium-ion battery packs squarely at That Electric Car Brand In… Continue reading Testing Geely’s Geometry A electric vehicle – Top Gear Philippines