Category: Automotive

BMW, Daimler, Toyota: Speech by China’s head of state Xi inspires the auto industry

Lexus production The Toyota luxury brand would benefit particularly strongly from the market opening. (Photo: AP) Automakers like BMW. Daimler and Toyota are likely to over the Message from the Chinese President Xi Jinping pleased: This announced in his speech on Tuesday to lower import tariffs on cars later this year. In doing so, the… Continue reading BMW, Daimler, Toyota: Speech by China’s head of state Xi inspires the auto industry

Magna Steyr to develop smart EV architecture for China’s BAIC Group

The agreement was signed on April 8 in Beijing between Günther Apfalter, president, Magna Europe and Magna Steyr, and Xu Heyi, chairman of BAIC Group. The BAIC Group (Beijing Automotive Industry Holding Co) of China and Magna have announced that they will jointly develop a next-generation smart electric vehicle architecture for the Chinese market. China… Continue reading Magna Steyr to develop smart EV architecture for China’s BAIC Group

China’s president promises to cut auto import tariff

Associated Press Published 11:23 p.m. ET April 9, 2018 Chinese President Xi Jinping (Photo: Mark Schiefelbein / AP) Beijing – President Xi Jinping promised to cut auto import taxes, open China’s markets and improve conditions for foreign companies in a speech Tuesday that called for international cooperation against a backdrop of a spiraling dispute with… Continue reading China’s president promises to cut auto import tariff

Chinese NEV start-up Singulato to invest big in Suzhou

Singulato’s CEO Shen Haiyin attends the launching ceremony of an electric SUV Singulato iS6 in Beijing, April 13, 2017.[Photo/VCG] NANJING – Chinese new energy vehicle (NEV) start-up Singulato Motors announced Saturday plans to invest 15 billion yuan ($2.39 billion) in the manufacturing hub of East China’s Suzhou over the next five years. A partnership between… Continue reading Chinese NEV start-up Singulato to invest big in Suzhou

News Release – Magna to Develop Electric Vehicle Architecture for BAIC Group

Please click HERE for a PDF version of this release. • Joint program for next generation of EV architecture• Magna to enhance its relationship with one of China’s largest OEMs • First project with BAIC Group to support their electrification strategy BEIJING, April 9, 2018 — BAIC Group (Beijing Automotive Industry Holding Co., Ltd.) and Magna… Continue reading News Release – Magna to Develop Electric Vehicle Architecture for BAIC Group

Are Mercedes Diesel Cars Getting Phased Out?

With car makers gradually shifting their focus on hybrid and electric vehicles, major markets having tight regulations on diesel as well as emission scandals shaking the automotive world, is Mercedes-Benz finally giving up on its diesel cars? Last February, Daimler warned about a fall in demand for diesel cars. Therefore, the parent of Mercedes urged… Continue reading Are Mercedes Diesel Cars Getting Phased Out?

Japan’s Automakers Should Get in the Fast Lane

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China: Alibaba-backed Xiaopeng Motors to raise $2.7b this year

April 10, 2018 Xiaopeng Motors, which counts Alibaba Group Holding Ltd. and Foxconn Technology Group among its investors, plans to raise 17 billion yuan ($2.7 billion) in funds this year as the Chinese car startup seeks to take on rivals in the world’s biggest market for electric vehicles. The company plans to start pre-sales of… Continue reading China: Alibaba-backed Xiaopeng Motors to raise $2.7b this year

Uber moves into multimodal transportation with acquisition of bike-share startup JUMP

Uber is acquiring JUMP, a dockless, electric bike share startup. (Uber Photo) Uber is expanding further into the competitive dockless bike-sharing space with the acquisition of JUMP. JUMP CEO Ryan Rzepecki announced his electric bike-sharing startup will join Uber but retain its distinct brand in a blog post Monday. Terms of the deal were not disclosed… Continue reading Uber moves into multimodal transportation with acquisition of bike-share startup JUMP