Category: Automotive

Volkswagen brand steps up pace of transformation

2019 is key year: electric offensive set for launch, significant efficiency increases planned Earnings improvement program to make sustained €5.9 billion contribution from 2023 Investment from 2019 to 2023 rises to €19 billion €4.6 billion investment to implement digitalization roadmap for administration Outlook 2019: growth in sales revenue of up to 5 percent – corridor of… Continue reading Volkswagen brand steps up pace of transformation

VW delivers fewer vehicles but gains market shares

In February, the Volkswagen brand delivered 398,100 vehicles throughout the world, 2.2 percent fewer than in February 2018. In an overall market which shrank even more strongly, Volkswagen was able to gain market shares throughout the world. The brand delivered more cars in Germany (+3.4 percent), Europe (+1.8 percent) and South America (+45.6 percent). Falls… Continue reading VW delivers fewer vehicles but gains market shares

Vietnam Digest: Vingroup mulls $1b private placement; SocGen exits SeaBank

March 13, 2019 Vingroup has announced its plan to conduct a private placement offering to raise $1 billion while French Société Générale Group has fully divested 20 per cent stake in Hanoi-based lender SeABank. Vingroup to issue $1b private placement Vietnam’ biggest listed firm by market value, Vingroup, has announced its plan to conduct private placement to… Continue reading Vietnam Digest: Vingroup mulls $1b private placement; SocGen exits SeaBank

Hyundai Mobis Accelerates Global Open Collaboration with Strategic Investment

SEOUL, South Korea–(BUSINESS WIRE)–Hyundai Mobis (KRX:012330) is accelerating for a full-scale collaboration with promising high-tech companies to become a global technology leader by reinforcing its competence in core technologies for future automotive vehicles. Hyundai Mobis announced on March 13 to push ahead equity investment to build a strategic partnership with China’s Deep Glint, which has… Continue reading Hyundai Mobis Accelerates Global Open Collaboration with Strategic Investment

Drivezy, India’s vehicle sharing startup, is raising $100M+ at a $400M valuation, eyes US expansion

Drivezy — the startup out of India that wants to turn private car usage on its head through a car-sharing network where people lend their cars and two-wheeled vehicles but also have options to use vehicles from a fleet managed by Drivezy — said it is raising more money as it gears up for the… Continue reading Drivezy, India’s vehicle sharing startup, is raising $100M+ at a $400M valuation, eyes US expansion

VW brand to cut up to 7,000 jobs for 5.9 billion euro annual savings goal

FILE PHOTO: A Volkswagen badge on a production line at the Volkswagen plant in Wolfsburg, Germany, March 1, 2019. REUTERS/Fabian Bimmer/File Photo WOLFSBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) on Wednesday said it will shrink its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros worth of annual savings at its… Continue reading VW brand to cut up to 7,000 jobs for 5.9 billion euro annual savings goal

Toyota workers to get smaller base-pay rise than sought -Jiji

A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy TOKYO (Reuters) – Toyota Motor workers in Japan will receive a monthly increase in base pay of 10,700 yen ($96), lower than what unions were requesting, Jiji Press reported on Wednesday. Prime Minister Shinzo Abe’s… Continue reading Toyota workers to get smaller base-pay rise than sought -Jiji

Every Tesla Just Got $2,000 Cheaper

Tesla sold its 200,000th vehicle in 2018, which means the federal government is starting to phase out its EV tax credits. To soften the blow for customers, Tesla is dropping prices on its vehicles by $2,000. Now that Tesla has cut prices, the Model 3 starts at $44,000 for the mid-range battery before incentives, the Model S now… Continue reading Every Tesla Just Got $2,000 Cheaper

The Polestar 2 EV Puts Tesla Model 3 on Notice

Aimed explicitly at the Tesla Model 3, and looking like it has its scope calibrated well enough to score a direct hit, the new Polestar 2 has just dropped. Following on the heels of the stunning but much more exclusive Polestar 1, the 2 promises a broader buyer base thanks to its more approachable price.… Continue reading The Polestar 2 EV Puts Tesla Model 3 on Notice