Category: Newswire

Abu Dhabi to try out automated driving tests

Cars fitted with almost a dozen cameras will test the skills of learner drivers under a new smart driving test in Abu Dhabi.In Dubai, the Roads and Transport Authority unveiled a similar version of the driver testing system at Gitex, one of the region’s largest technology events.A new application for booking limousines and Tesla vehicles through Apple and Google stores was also announced by the authority on the opening day of the week-long Gitex event at Dubai World Trade Centre.

Dacia Duster now Europe’s second best selling car

Two automobiles made by Romanian car maker Dacia, owned by Renault, were amongst Europe’s best selling cars in August.A global supplier of automotive business intelligence, Dacia sold 19,451 units of its Duster model, an SUV.Dacia’s cheapest model, the Sandero, saw sales of 17,764, and was the fourth best-selling car in Europe, behind Volkswagen’s T-Roc.

Neuron EV Releases Teaser for Second Annual CIIE Exhibition

IRVINE, Calif., Oct. 7, 2019 /PRNewswire/ — Visionary automotive company Neuron EV has announced that two new products will make their groundbreaking debut this November at the Second Annual International Import Expo in Shanghai, China. Neuron EV Releases Teaser for Second Annual CIIE Exhibition. Copyright © 2019 Neuron EV. All rights reserved. Neuron EV Releases… Continue reading Neuron EV Releases Teaser for Second Annual CIIE Exhibition

DeepRoute Raises $50 Million in Funding to Research and Develop Autonomous Vehicles

SILICON VALLEY, Calif., Oct. 7, 2019 /PRNewswire/ — DeepRoute, an international self-driving vehicle startup, today announced it has raised $50 million in its pre-Series A funding round to expand the global presence of the company’s autonomous driving solutions. The financing round was led by Fosun RZ Capital, the Beijing-based venture capital arm of Chinese conglomerate Fosun… Continue reading DeepRoute Raises $50 Million in Funding to Research and Develop Autonomous Vehicles

Cars.com Amends Credit Agreement to Increase Flexibility and Further Strengthen Liquidity Position

CHICAGO, Oct. 7, 2019 /PRNewswire/ — Cars.com Inc. (NYSE: CARS) (“Cars.com” or the “Company”), today announced the completion of an amendment to its existing credit facility, which resets the total net leverage covenant during the remaining term of the credit agreement while preserving the favorable pricing structure from the original agreement. The amendment increases the… Continue reading Cars.com Amends Credit Agreement to Increase Flexibility and Further Strengthen Liquidity Position

Great Wall to recall 62,655 vehicles

BEIJING, Oct. 5 (Xinhua) — China's SUV and pickup manufacturer Great Wall Motor Co. Ltd. will recall 62,655 vehicles due to defective exterior rear-view mirrors, according to the country's top market regulator.
The recall, set to begin on Dec. 15, will involve HAVAL H2s models made between Nov. 4, 2016 and Oct. 11, 2017, said an online statement from the State Administration for Market Regulation.
Due to a defective coating, exterior rear-view mirrors of the affected vehicles may detach from the mirror housings in extreme cases, posing safety risks.
The company promised to replace the defective rear-view mirrors free of charge.

BMW to cut work hours, pay of highly-qualified employees

BERLIN, Oct. 4 (Xinhua) — German carmaker BMW is planning to reduce the salaries of its highly qualified employees by 10,000-14,000 euros each year, the German business magazine WirtschaftsWoche reported on Friday.
BMW is also seeking to reduce the working time of its skilled workforce from 40 to 35 hours a week, a measure that would save around 100 million euros, WirtschaftsWoche said.
In the past, the German carmaker let employees with sought-after qualifications work 40 hours instead of 35 hours a week to avoid having to train new people and to be able to deploy proven specialists for longer time.
“I will ensure that highly qualified workers can continue to work 40 hours,” Manfred Schoch, head of the workers' council, told WirtschaftsWoche.
The reduction of working time would affect around one-third of the company's 17,000 employees.
According to WirtschaftsWoche, BMW was negotiating with the workers' council on a package of several measures to save 12 billion euros ..

AMS takeover of Osram fails

… technology . “We intend to leverage our position as OSRAM’s largest shareholder in a dialogue with OSRAM as we continue to pursue the full acquisition of the company, securing a solid future for OSRAM” AMS…

-Fighting GM puts a financial squeeze on striking union workers

BOWLING GREEN, Ky. – Oct 3 (Reuters) – While striking workers at General Motors Co's U.S. auto plants continue walking picket lines for a third week to demand better pay and benefits, the financial pressure has mounted for union members like Frank Lee.
Analysts estimate that GM could lose $1 billion from the labor dispute that began on Sept. 16 and is now the longest nationwide strike at the automaker since 1970. For GM, which had $24 billion in cash and marketable securities as of June 30, that cost is likely manageable.
But it's a different story for some strikers.
Frank Lee, a United Auto Workers union member at GM's Corvette assembly plant in Bowling Green, Kentucky, is fending off bill collectors.
“Until yesterday, I was negative in my bank account,” said Lee. “I called the bank to try and stop an insurance payment from coming out. I failed to do that; it was too late”.
Adding to the difficulty of his situation, union regulations prohibit Lee from seeking outside em..