RUEIL-MALMAISON, France and LONDON, Oct. 31, 2019 /PRNewswire/ — The combination would create the 4th largest global OEM in terms of annual unit sales (8.7m vehicles) At its inception, the combined company would realize among the highest margins in the markets where it would operate, based on FCA’s strength in North America and Latin America and… Continue reading Groupe PSA and FCA plan to join forces to build a world leader for a new era in sustainable mobility
Category: Newswire
Autonomous Transportation-As-A-Service Startup CODE42 Raises USD 25 Million in Pre-A Funding
As lead investor, Kia Motors contributed USD 12.5 million to the deal. The USD 25 million investment marks one of the largest Pre-A rounds of funding for the Korean startup market, with past references typically ranging under USD 10 million. The newly raised funds will be utilized to complete development of CODE42’s core UMOS (Urban… Continue reading Autonomous Transportation-As-A-Service Startup CODE42 Raises USD 25 Million in Pre-A Funding
Magna to Develop and ‘Auto Qualify’ a More Powerful and Affordable Electric Motor
Project partners include the Illinois Institute of Technology, the University of Wisconsin-Madison and the U.S. Department of EnergyObjective is to develop an automotive-grade, non-permanent magnet electric motor for next-gen vehicle propulsion systemsProject targets an electric motor that is half the cost and eight times the power density of currently available e-motorsTROY, Mich., Oct. 30, 2019… Continue reading Magna to Develop and ‘Auto Qualify’ a More Powerful and Affordable Electric Motor
Magna Wins Largest Contract for Transmission Technologies in Company History
Magna to build dual-clutch transmissions including hybrid variants for strategic partner BMW GroupTechnologies for front-wheel drive vehicle platforms; over 170 different vehicle applicationsTransmissions to be supplied from Magna facilities in Germany and SlovakiaSAILAUF, Germany, Oct. 30, 2019 (GLOBE NEWSWIRE) — BMW Group has awarded Magna its largest production order for transmission technologies in company history.… Continue reading Magna Wins Largest Contract for Transmission Technologies in Company History
Dana Incorporated Reports Third-quarter 2019 Financial Results
MAUMEE, Ohio, Oct. 30, 2019 /PRNewswire/ — Highlights Sales of $2.16 billion Net income attributable to Dana of $111 million; diluted EPS of $0.77 Adjusted EBITDA of $250 million, increase of $10 million; margin of 11.6 percent Diluted adjusted EPS of $0.74 Operating cash flow of $231 million; adjusted free cash flow of $125 million… Continue reading Dana Incorporated Reports Third-quarter 2019 Financial Results
Aptiv Reports Third Quarter 2019 Financial Results
DUBLIN, Oct. 30, 2019 /PRNewswire/ — Aptiv PLC (NYSE: APTV), a global technology company enabling the future of mobility, today reported third quarter 2019 U.S. GAAP earnings of $0.96 per diluted share. Excluding special items, third quarter earnings totaled $1.27 per diluted share. These results include the adverse impacts in the third quarter of approximately $0.10… Continue reading Aptiv Reports Third Quarter 2019 Financial Results
BYD and AMPLY Launch Preferred Partnership For Electric Vehicle Charging Infrastructure and Energy Services
In a 2018 survey by Greenbiz, fleet operators cited high cost and complex infrastructure as main deterrents in expanding their electric truck and bus pilots to full deployment. The two companies aim to answer these challenges by providing bundled, affordable solutions and charging infrastructure that guarantees uptime. “Together, BYD and Amply Power offer a great benefit… Continue reading BYD and AMPLY Launch Preferred Partnership For Electric Vehicle Charging Infrastructure and Energy Services
Volkswagen Lowers Sales Outlook
Volkswagen AG lowered its outlook for vehicle deliveries this year on a faster-than-expected decline in auto markets around the world amid economic jitters in Europe and an unprecedented autos slump in China.
Veoneer to Divest Japan and China Operations of Brake System Joint Venture
STOCKHOLM, Oct. 30, 2019 /PRNewswire/ — Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), the world’s largest pure-play company focused on Advanced Driving Assistance Systems and Automated Driving, has signed agreements (the “Definitive Agreements”) to sell its 51% ownership in the Japanese (VNBJ) and Chinese (VNBZ) entities that comprise Veoneer Nissin Brake Systems (VNBS) to… Continue reading Veoneer to Divest Japan and China Operations of Brake System Joint Venture
Volkswagen introduces electric car in Sub-Saharan Africa for 1st time
KIGALI, Oct. 29 (Xinhua) — German automaker Volkswagen (VW) on Tuesday launched a pilot project of its electric car e-Golf in partnership with German technology giant Siemens in Kigali, capital city of Rwanda, which makes Rwanda the first country in Sub-Saharan Africa where VW introduces an electric car.
VW had in June 2018 launched a car assembling plant in Rwanda together with integrated mobility solutions including application-based car-sharing services. The Rwandan plant has an annual capacity of assembling up to 5,000 cars including Polo, Passat and Teramont, and can create up to 1,000 jobs per year.
The success of VW's pioneering mobility solutions business in Rwanda has shown that the central African country has the potential to leapfrog the internal combustion engines into electric cars, said Thomas Schaefer, Chairman and Managing Director of VW Group South Africa at an official launch of the project.
Rwanda becomes the first African country where Volkswagen is testing el..