Category: Automotive

Daimler enters the capital of Taxify

The German Daimler has led the round of financing of 175 million dollars (150.7 million euros) that has closed the Estonian company, an operation that has raised the valuation of the company to more than one billion dollars. The Asian Didi Chuxing, who reached an agreement to enter the capital of Taxify in August 2017,… Continue reading Daimler enters the capital of Taxify

BMW prepares a new induction charging system

BMW is preparing a new charging system for its plug-in cars that will work by induction, so the cables will go down in history. BMW’s eco-friendly car division launches an inductive charging system for its hybrid plug-in cars, which is a novelty. BMW says production will start in June and will be available now for… Continue reading BMW prepares a new induction charging system

UPDATE 7-SoftBank joins GM in self-driving car race; GM shares soar

(Reuters) – Japan’s SoftBank Group Corp (9984.T) will invest $2.25 billion in General Motors Co’s (GM.N) autonomous vehicle unit Cruise, the companies said on Thursday, a deal that validates the venerable Detroit automaker’s leadership in self-driving cars and sent GM shares up nearly 13 percent. The move by SoftBank’s $100-billion Vision Fund is one of… Continue reading UPDATE 7-SoftBank joins GM in self-driving car race; GM shares soar

Trump moves to impose tariffs on imported cars

Gregory Korte and Todd Spangler, USA Today and Detroit Free Press Published 10:34 a.m. ET May 23, 2018 | Updated 10:32 p.m. ET May 23, 2018 President Donald Trump speaks during a meeting with automotive executives in the Roosevelt Room of the White House, Friday, May 11, 2018, in Washington. From left, Environmental Protection Agency… Continue reading Trump moves to impose tariffs on imported cars

Local Motors Becomes Must-Experience Destination for Destination Imagination Participants

Blog posts Last week was nothing short of amazing as our microfactory was filled with inquisitive minds of students participating in the 2018 Destination Imagination competition. Destination Imagination (DI) is a non-profit organization focused on developing students and preparing them for their careers by way of art and social entrepreneurship, and STEM education programming and… Continue reading Local Motors Becomes Must-Experience Destination for Destination Imagination Participants

Mahindra Signs MOUs with Government of Maharashtra for Electric Vehicle Manufacture and Deployment

Mahindra Signs MOUs with Government of Maharashtra for Electric Vehicle Manufacture and Deployment Mahindra to boost further investment in its Chakan plant for manufacture of EVs/EV components Government of Maharashtra confers status of ‘Pioneer Mega Project’ to the investment made by Mahindra towards manufacture of EV / EV components Mahindra to deploy 1,000 EVs over… Continue reading Mahindra Signs MOUs with Government of Maharashtra for Electric Vehicle Manufacture and Deployment

Taxify Raises $175M in Funding; Valued at $1 Billion

Taxify, an Estonia-based taxi hailing company, raised $175m in funding. The round, which brings Taxify’s valuation to $1 billion, was led by Daimler, with participation from Korelya Capital, and Taavet Hinrikus, which joined existing investors Didi Chuxing. In conjunction with the funding, Daimler will join Taxify’s board. The company intends to use the funds to… Continue reading Taxify Raises $175M in Funding; Valued at $1 Billion

Taking Getaround for a spin: Can the Airbnb model work for renting your neighbor’s car?

Using a smartphone app, I was able to rent someone’s car in Seattle — this nice 2008 Nissan Rogue — and drive it around for a few hours thanks to a new service in town called Getaround. (GeekWire photo / Kurt Schlosser) Over the past decade, we’ve been conditioned to be comfortable with the notion of… Continue reading Taking Getaround for a spin: Can the Airbnb model work for renting your neighbor’s car?