Category: Automotive

SoftBank invests $1b in Colombian delivery app Rappi

May 1, 2019 Japan’s SoftBank will invest $1 billion in Colombian delivery app Rappi, marking the first move by its newly created Innovation Fund for Latin America, according to a statement on Tuesday, confirming earlier media reports. In a statement, Rappi said the proceeds will be used to enhance the company’s presence in existing markets… Continue reading SoftBank invests $1b in Colombian delivery app Rappi

Kia enters Esports Arena as League Of Legends European Championship Sponsor

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Kia becomes main partner of League of Legends European ChampionshipNew partnership with the world’s most popular esports gameKia to engage with esports fans through digital content featuring prominent League of Legends casters and players Kia Motors Corporation has today announced its first foray into esports – the arena of competitive video gaming – by becoming the main sponsor of the League of Legends European Championship (LEC). Kia’s sponsorship of the LEC is the latest marketing campaign from a brand experienced in forging closer connections with younger generations of car buyers. As main sponsor of the championship, Kia has launched a new film called ‘Ready to Play’, created in collaboration with some of the LEC’s most well-known ‘casters’ (online gaming commentators). Kia’s film sees Trevor ‘Quickshot’ Henry gather a team of casters at the wheel of a new Kia Stinger, collecting Romain Bigeard, Indiana ‘Froskurinn’ Black, Daniel ‘Drakos’..

Faraday Future Secures Financing, Announces New FF 81 Electric Car

With new financing, Faraday Future remains in the game, plans to complete FF 91 and hints at a mass-market FF 81. Faraday Future announced up to $225 million in bridge financing from U.S. merchant bank Birch Lake Associates to complete the development of its FF 91 electric car and introduce it on the market. Two-thirds… Continue reading Faraday Future Secures Financing, Announces New FF 81 Electric Car

Volkswagen: Our Electric Car Batteries Last The Life Of The Car

VW To Guarantee 70% Battery Capacity For 8 Years Or 160,000 km Volkswagen‘s Center of Excellence for Battery Cells chief Frank Blome said that the goal for the upcoming MEB-based electric car is to guarantee a minimum capacity of 70% for eight years or 160,000 km (around 100,000 miles). The battery pack is expected to last… Continue reading Volkswagen: Our Electric Car Batteries Last The Life Of The Car

Judge approves Musk, SEC agreement over Twitter use by CEO

FILE PHOTO: Tesla Inc. CEO Elon Musk (C) exits after attending a S.E.C. hearing at the Manhattan Federal Courthouse in New York, April 4, 2019. REUTERS/Eduardo Munoz NEW YORK (Reuters) – A federal judge on Tuesday approved a deal struck between Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission over… Continue reading Judge approves Musk, SEC agreement over Twitter use by CEO

GM CEO confirms plans to build Chevy or GMC electric pickup truck

2019 GMC Sierra
General Motors CEO Mary Barra confirmed Tuesday in a call with investors what rumors had long predicted: The automaker will build an electric pickup. Barra didn't specify when the pickup would appear, or whether it would be branded as a GMC or Chevrolet.

Rumors swirled earlier this year that GM may invest in EV startup Rivian, but that never materialized. Instead, Amazon invested up to $700 million in Rivian earlier this year. Then, last week Ford announced that it will invest $500 million in Rivian, which could preclude a deal with GM.

Barra's announcement Tuesday makes it clear that GM is committed to building an electric pickup, even without Rivian.

DON'T MISS: GMC could join electric-pickup tailgate party

In January, Duncan Aldred, vice president of General Motors' GMC brand, told attendees at a conference following the Detroit auto show that the brand was considering an electric truck, but didn't offer any details.

Barra had already said, multiple times, that the automaker is working toward an all-electric future, which includes pickups.

READ MORE: Chevrolet Bolt EV to get electric sibling, with Michigan plant investment

In March, GM announced it will invest $300 million in its Orion Township, Michigan factory to build a second electric model based on the Chevrolet Bolt EV, which Barra also confirmed Tuesday. The second car is expected to be an electric SUV, possibly called the Bolt EUV.

Beyond that, GM announced at the Detroit auto show that Cadillac will become its lead brand for electric vehicles, starting with an electric SUV in 2022.

CHECK OUT: Long-range Cadillac SUV to lead GM's next electric-car push, in 3 years

With Cadillac taking the lead to sell GM electric cars—for higher prices and profit margins—it makes sense that the premium GMC brand could be the automakers' primary outlet for electric pickups.

Electric pickups have gained in mind-share in recent months after Rivian revealed its long-range electric pickup at the LA auto show in November. Tesla CEO Elon Musk said this year that the company will reveal more details about its pickup in the summer, which is expected to follow the Model Y and the Semi, though an actual production timeline is still unclear.

Ford also announced that it will built an all-electric F-150 and a Mustang-inspired crossover.

STRAIGHT-SIX PERFORMANCE AND EFFICIENT MILD HYBRID REFINEMENT FOR RANGE ROVER

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Faraday Future raises USD 225 million to mass produce its electric vehicles – KrASIA

Cash-strapped electric vehicle maker Faraday Future announced on Tuesday that it has gained USD 225 million via debt financing and trust financing. Commercial bank Birch Lake was the main lender in this round, laying “solid ground” for future equity financing, the US-based EV maker said on its official WeChat account. KrAsia reported in January that… Continue reading Faraday Future raises USD 225 million to mass produce its electric vehicles – KrASIA

Ridecell and Dataspeed Partner to Enhance Autonomous Vehicle Safety – PRNewswire

SAN FRANCISCO, April 30, 2019 /PRNewswire/ — Ridecell Inc., the leading platform for shared and autonomous mobility operators, and Dataspeed Inc., a globally established drive-by-wire solution provider, announced a strategic partnership to enhance autonomous vehicle (AV) safety. The companies will begin leveraging each other’s technology and testing new technologies in real world conditions to improve vehicle… Continue reading Ridecell and Dataspeed Partner to Enhance Autonomous Vehicle Safety – PRNewswire