Category: Newswire

Upstream Expands Series B Funding

HERZLIYA, Israel, June 9, 2020 /PRNewswire/ — Upstream Security announced today that it has secured an expansion of its Series B funding with an investment by Salesforce Ventures. The undisclosed amount is in addition to $30 million previously invested by Alliance Venture Capital (Renault, Nissan, Mitsubishi), Hyundai, Nationwide Insurance, Volvo Group, and others. Upstream offers specialized… Continue reading Upstream Expands Series B Funding

AAM Announces Proposed Senior Notes Offering

DETROIT, June 9, 2020 /PRNewswire/ — American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) (“Holdings”) announced today that its wholly owned subsidiary, American Axle & Manufacturing, Inc. (“AAM”), is planning a public offering of $400 million of senior notes, subject to market and other conditions. The notes will bear interest at a rate to be determined… Continue reading AAM Announces Proposed Senior Notes Offering

FLX Raises $12 Million To Produce The Babymaker Electric Road Bike

SAN DIEGO, June 8, 2020 /PRNewswire/ — With a total raise of over $12 Million Dollars, FLX Bike ended funding for The Babymaker electric road bike last night. FLX, led by vegan founders Rob Rast and Pete Leaviss, launched the Babymaker on crowdfunding platform Indiegogo on March 17th. The goal was to raise $20,000 to… Continue reading FLX Raises $12 Million To Produce The Babymaker Electric Road Bike

Karma Automotive Names New Chief Strategy Officer To Drive Corporate Growth

As CSO, Tarr will report directly to Karma CEO Dr Lance Zhou, providing valuable insight and leadership for Karma’s business model, strategic innovation and future product portfolio. As Karma Automotive develops future vehicle programs across Electric Luxury Cars, Supercars, Commercial Vehicles and Technology Platforms, Tarr’s strategic guidance will strengthen the company’s growing global presence and… Continue reading Karma Automotive Names New Chief Strategy Officer To Drive Corporate Growth

GAC MOTOR Delivers the First All-electric Vehicle GE3 Overseas

As an environmentalist, Mr. Ben Hion has always wanted to own an electric car. He was attracted by the exterior design of the GE3 when he first saw it advertised on social media. The background of GAC MOTOR as a car manufacturer with rich experience and its partnership with the Union Group, one of Israel’s largest… Continue reading GAC MOTOR Delivers the First All-electric Vehicle GE3 Overseas

Valmet Automotive: our car plant is CO2 neutral by the end of 2021

Valmet Automotive sets a highly ambitious goal for the Uusikaupunki, Finland car plant to be CO2 neutral by the end of 2021. The goal is part of the Valmet Automotive Group’s Sustainability Action Plan, with which the company aims to be one of the leaders of the automotive industry in sustainability indicators. The CO2 neutrality… Continue reading Valmet Automotive: our car plant is CO2 neutral by the end of 2021

New car registrations in Germany down almost 50 pct in May

BERLIN, June 4 (Xinhua) — New passenger car registrations in Germany were down by almost 50 percent in May compared to the same month last year, the Federal Motor Transport Authority (KBA) said on Thursday.
Around 168,000 new passenger cars were registered in Germany in May, according to the KBA.
In the first five months of this year, 990,300 new passenger cars were registered, which was “the lowest figure in this time frame in reunited Germany,” according to the German Association of the Automotive Industry (VDA).
After the “historic slump” of 61 percent in April, Germany's new car market “showed the first signs” of recovery in May, the consulting firm Ernst & Young (EY) noted on Thursday. EY expected the decline in new car registrations in Germany in the coming months to be less severe than in May.
“The state of shock is over,” said Peter Fuss, partner at EY Germany. More German customers dare to visit car dealerships, and the registration offices should soon be operating norma..

Grammer AG is in advanced talks concerning the increase of the existing syndicated loan, suspending the dividend and planning a capital increase

Publication of insider information pursuant to Art. 17 of (EU) Regulation No. 596/2014 GRAMMER AG (WKN 589540, ISIN DE0005895403) Grammer AG is in advanced talks concerning the increase of the existing syn-dicated loan, suspending the dividend and planning a capital increase Ursensollen, June 04, 2020 – The economic impacts of the global COVID-19 pan-demic has… Continue reading Grammer AG is in advanced talks concerning the increase of the existing syndicated loan, suspending the dividend and planning a capital increase