Autonomic, a wholly owned subsidiary of Ford Smart Mobility LLC, and Alibaba Cloud, the cloud computing arm of Alibaba Group, signed a Memorandum of Understanding (MOU) to bring to China the Transportation Mobility Cloud (TMC) – the world’s foremost transportation and mobility solution for connected vehicles developed by Autonomic. Peter Fleet, Ford group vice president… Continue reading Ford-owned Autonomic partners with Alibaba Cloud for mobility solutions
Category: Automotive
Geely SX11 B-segment crossover to be called Bin Yue, naming contest for international markets kicks off
[embedded content] Geely has confirmed that its B-segment crossover, codenamed SX11, will be called the Bin Yue – continuing the naming convention set by both the larger Boyue and the Bin Rui sedan. The news was revealed by a post on Facebook, in which the Chinese carmaker also announced a competition to name the new… Continue reading Geely SX11 B-segment crossover to be called Bin Yue, naming contest for international markets kicks off
CORRECTED-NIO seeks to raise $1.8 bln in biggest U.S. listing by China automaker
HONG KONG/SHANGHAI (Reuters) – Chinese electric vehicle start-up NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the biggest U.S. listing by a Chinese automaker. FILE PHOTO: Visitors check NIO ES8 displayed during a media preview of the Auto China 2018 motor show in Beijing, China April 25,… Continue reading CORRECTED-NIO seeks to raise $1.8 bln in biggest U.S. listing by China automaker
Geely wants Lotus to Think Big
Lotus hasn’t been in the best of situations for a while now. Its last new mainstream car was the Evora, and that launched in 2009. In the first seven months of 2018, Lotus sold only 145 new cars, a 25 per cent drop year-on-year. Things took a turn for the better when Chinese giant Geely… Continue reading Geely wants Lotus to Think Big
China’s Didi beefs up its newly-independent car services business with an acquisition
A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car owners using a digital platform.… Continue reading China’s Didi beefs up its newly-independent car services business with an acquisition
UPDATE 10-Musk says Silver Lake, Goldman advising on taking Tesla private
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk tweeted on Monday that he was working with buyout firm Silver Lake and investment bank Goldman Sachs Group Inc (GS.N) as financial advisers on his plan to take the U.S. electric car maker private. The announcement represents the latest effort by Musk to add credibility to… Continue reading UPDATE 10-Musk says Silver Lake, Goldman advising on taking Tesla private
FiveAI to start a trial of its shared autonomous car fleet in London in 2019
After raising $35 million to develop driverless car technology and a strategy to build a fleet of shared vehicles, UK startup FiveAI is announcing its first on-street trial: a service aimed at commuters in the London outer boroughs of Bromley and Croydon. Projected to begin in late 2019, it will kick off first with a… Continue reading FiveAI to start a trial of its shared autonomous car fleet in London in 2019
Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp
August 14, 2018 Vogo, a scooter and bike sharing start-up, has raised $6-7 million in a Series A funding round led by ANI Technologies Pvt. Ltd and Hero MotoCorp chairman Pawan Munjal, according to a person familiar with the matter. Existing investors Matrix Partners India, Stellaris Venture and angel investors also participated in the funding… Continue reading Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp
UPDATE 7-Musk talking to Saudi fund, others as he seeks Tesla buyout financing
(Reuters) – Elon Musk on Monday explained what he meant by tweeting “funding secured” to take Tesla Inc private: he is confident a deal can be done but has not yet finalized a plan. What exactly Musk had intended by saying “secured” has emerged as a potential legal and regulatory minefield for the Silicon Valley… Continue reading UPDATE 7-Musk talking to Saudi fund, others as he seeks Tesla buyout financing
UPDATE 2-Tesla’s slow disclosure raises governance, social media concerns
WASHINGTON (Reuters) – Tesla Inc’s (TSLA.O) handling of Chief Executive Elon Musk’s proposal to take the carmaker private and its failure to promptly file a formal disclosure has raised governance concerns and sparked questions about how companies use social media. FILE PHOTO: Tesla CEO Elon Musk at a press conference at the Kennedy Space Center… Continue reading UPDATE 2-Tesla’s slow disclosure raises governance, social media concerns