Category: Newswire

Decision on Turkey plant postponed, VW tells Tanjug

The Volkswagen board of directors has postponed a decision on the construction of a new car plant in Turkey over Ankara’s military action in Syria, a source in the German automotive concern has told Tanjug.The plant, worth between 1.2 bln and 1.5 bln euros, was to be built near Izmir and hire up to 4,000 people.Serbia and several countries in the region were also vying to land the investment.

Motiv Power Systems Secures $60 Million to Scale EPIC All-Electric Chassis, Establish Detroit Operations

FOSTER CITY, Calif., Oct. 15, 2019 /PRNewswire/ — The leading provider of all-electric medium-duty chassis for buses and trucks, Motiv Power Systems announced today it has secured $60 Million in equity funding. The Series B round of investment was led by investors GMAG Holdings Corp. and Winnebago. These funds will support the overall growth of… Continue reading Motiv Power Systems Secures $60 Million to Scale EPIC All-Electric Chassis, Establish Detroit Operations

Kandi Vehicles Announces Delivery of Electric Scooters and Electric Self-Balancing Scooters

JINHUA, China, Oct. 14, 2019 (GLOBE NEWSWIRE) — Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that according to the executed Purchase Framework Agreement dated September 22, 2019 between its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”) and DGL Group Inc. (USA) (“DGL Group”), Kandi Vehicles started… Continue reading Kandi Vehicles Announces Delivery of Electric Scooters and Electric Self-Balancing Scooters

2020 marks end of support for fuel cell cars

Hydrogen fuel cell vehicles will no longer receive government subsidies when China withdraws its financial stimuli by the end of 2020.And despite the financial support, China’s fuel cell industry has not made breakthroughs and has not seen rapid development,” said the ministry.It expects global fuel cell vehicles to grow to around two million vehicles a year within that timeframe.

CATL and VWCO Collaborate to Speed up Global Commercial Vehicle Electrification

Remarkable LFP and CTP application– the latest standard CV product of CATLThe cooperated electric trucks will be applied with the latest model of standard battery pack in CATL that is specifically designed for commercial vehicles. Using the LFP chemistry system, which features exceptional long cycle life and high thermal runaway temperature of up to 800°C,… Continue reading CATL and VWCO Collaborate to Speed up Global Commercial Vehicle Electrification

Mexican motor city ‘getting desperate’ as GM’s U.S. strike takes heavy toll

SILAO, Mexico, Oct 11 (Reuters) – Half a continent away from the auto plants of Detroit, U.S. strikes at General Motors (GM) have sent shivers through the central Mexican city of Silao, where the local GM factory furloughed 6,000 workers last week when parts from the United States ran out.
Rich or poor, residents are anxiously hoping the labor dispute will end so the company reopens the plant, which has been an anchor of the local economy since GM arrived a generation ago, transforming the landscape forever.
“General Motors is the biggest source of income here. When General Motors stops, everything stops,” said Silao resident Francisco Vazquez. “Before General Motors, there was nothing.”
Once a provincial backwater with a handful of colorful old churches, Silao is now enveloped in a thick cordon of factories and warehouses serving automotive companies from all over the world.
In the years after GM opened the Silao plant in 1995, dozens of other firms followed, such as Volkswagen, Conti..