Careem secures first close of US$500 million investment round

Led by existing investors, including Al Tayyar Group, Kingdom Holding, Rakuten and STV.
US$200 million is the first close of the US$500 million Series F round of investment.
Funds will be used to accelerate the expansion of Careem’s internet platform across the region.

Careem, the leading internet platform for the greater Middle East, has secured US$200 million from existing investors in the first close of a new fundraise expected to exceed US$500 million. Through this funding, Careem will accelerate its mission of simplifying the lives of people in the region by expanding into mass transportation, deliveries, and payments.

Mudassir Sheikha, CEO and co-founder of Careem said: “Internet-enabled services are having a profound and positive impact on our region, where the consumer internet opportunity is huge and untapped. As a platform with 30 million users and presence in 120+ cities, Careem is uniquely positioned to tap into this opportunity by expanding into new verticals. We are del..

Devel Sixteen reportedly not even close to production

Devel Sixteen Dubai-based Devel is reportedly a far cry from producing the 5,007-horsepower Devel Sixteen supercar, and a notable engineering company is no longer working with the company.  Road & Track reported on Tuesday that a source claimed the car is indefinitely stuck in development. Since the project’s inception, the Garella-family’s Manufattura Automobili Torino (MAT) has… Continue reading Devel Sixteen reportedly not even close to production

Fastned Achieves Network Wide Operational Break Even

2 H BY MARK KANE Fastned tripled its revenues during Q3 Good news coming from the Netherlands where Fastned reports a very high growth rate of its business. The company was even able to achieve network-wide operational break even. “In September, the network as a whole surpassed break even on an operational level. All operational… Continue reading Fastned Achieves Network Wide Operational Break Even

Mercedes-Benz expands partnership with ESL.

Recommended Kraftstoffverbrauch kombiniert  CO₂-Emissionen kombiniert  Stromverbrauch im kombinierten Testzyklus Product may vary after press date on 18.10.2018. 1 Die angegebenen Werte wurden nach dem vorgeschriebenen Messverfahren ermittelt. Es handelt sich um die „NEFZ-CO₂-Werte“ i. S. v. Art. 2 Nr. 1 Durchführungsverordnung (EU) 2017/1153. Die Kraftstoffverbrauchswerte wurden auf Basis dieser Werte errechnet. Der Stromverbrauch wurde auf der Grundlage der VO 692/2008/EG ermittelt.… Continue reading Mercedes-Benz expands partnership with ESL.

The diesel is allowed to return to the club of clean cars

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Press Releases – Truck CO2 standards: European Parliament vote highly alarming, says industry

Brussels, 18 October 2018 – The European Automobile Manufacturers’ Association (ACEA) has expressed its serious concerns on today’s European Parliament vote on the EU’s first-ever CO2 standards for trucks. The vote by the Parliament’s Environment Committee (ENVI) was in reaction to the European Commission’s proposal for CO2 standards for new heavy-duty vehicles, published last May.… Continue reading Press Releases – Truck CO2 standards: European Parliament vote highly alarming, says industry

Fiom Cgil, Federico Bellono farewell: “They were 8 years of resistance”

Each race arrives at its natural end. Even if Federico Bellono, at the farewell step from the provincial secretary of Fiom Cgil, does not get caught up in emotion or nostalgia. Tomorrow the baton will pass to Edi Lazzi, 37, from Turin and coming from the Collegno area. “But I’m not retired, I’m at the… Continue reading Fiom Cgil, Federico Bellono farewell: “They were 8 years of resistance”

EU lawmakers back 35 percent CO2 cut for trucks by 2030

BRUSSELS (Reuters) – EU lawmakers backed a 35 percent cut in carbon dioxide emissions from new trucks by 2030 on Thursday, pushing for ambitious measures to limit climate change despite fears over industry competitiveness. FILE PHOTO: Cars and trucks are stuck in a traffic jam near Irschenberg, Germany, March 29, 2018. REUTERS/Michael Dalder/File Photo The… Continue reading EU lawmakers back 35 percent CO2 cut for trucks by 2030

Volkswagen brand launches diesel swapping program throughout Germany

Environmental incentive for scrappage of Euro-1 to Euro-4 diesel vehicles applicable throughout Germany Exchange premium in addition to residual value of old vehicle for Euro-4 and Euro-5 diesel vehicles in 14 cities particularly affected Offers available now from dealers The Volkswagen brand today launched a comprehensive diesel swapping program. The successful environmental incentive is again… Continue reading Volkswagen brand launches diesel swapping program throughout Germany

Volkswagen Group rolls out diesel swapping program throughout Germany

The Volkswagen Group today rolled out a comprehensive package of measures to improve air quality in Germany through fleet renewal. The successful environmental incentives for scrappage of Euro-1 to Euro-4 diesel vehicles of any make are again being offered by some of the Group’s brands throughout Germany. Vehicle keepers in the 14 cities classified by… Continue reading Volkswagen Group rolls out diesel swapping program throughout Germany