Category: Newswire

LiDAR specialist Ibeo Automotive Systems GmbH establishes a U.S. subsidiary to boost its business in the United States

DETROIT and HAMBURG, Germany, July 29, 2019 /PRNewswire/ — Ibeo Automotive Systems, a LiDAR sensor specialist from Hamburg, has established a wholly owned subsidiary in the United States: Ibeo Automotive USA Inc. in Detroit. Paula Jones, the former director of the Customer Business Unit of Gentherm Inc., was named president and manages the new company. This step… Continue reading LiDAR specialist Ibeo Automotive Systems GmbH establishes a U.S. subsidiary to boost its business in the United States

BAIC becomes Daimler’s third-largest stakeholder

BAIC Group has acquired a 5 percent stake in Daimler AG, a reassuring move for the State-owned carmaker concerned about profitability in a sluggish market, and with the German automotive giant under the helm of a new head seeking further success in China.In the same period, China’s passenger car market fell 14 percent year-on-year.It runs a joint venture with BYD, another new energy vehicle giant in China, to develop and produce Denza-branded electric vehicles.

State-owned carmakers join in charge onto ride-hailing scene

Backed by a list of stellar investors, T3 – an emerging car-hailing app – was launched on July 22 in Nanjing, East China’s Jiangsu province, where it’s headquartered.Of the 9.76 billion yuan ($1.42 billion) invested, 1.7 billion yuan was contributed by home appliance retailer Suning, making it the largest shareholder with 17.42 percent equity.The three automakers FAW Group, Dongfeng Motor and Changan Automobile each took 16.39 percent equity as the second-largest shareholders.