Category: Newswire

Geely to take stake in flying taxi JV

Zhejiang Geely Holding Group will invest in German flying taxi company Volocopter, and set up a joint venture with the startup to launch air taxis in China, the company said on Monday.Since its foundation in 2011, Volocopter has built three generations of Volocopter aircraft, two of which received licenses for manned and unmanned flight with a total funding of 35 million euros.After the Series C funding round, Geely will become a minority investor in Volocopter, next to existing strategic investors like Daimler AG. More sourcesGeely to take stake in flying taxi JV (China Daily (Europe): Sep 10, 2019 at 12:00 AM)

New Russian limousine harks back to Soviet era 09.09.2019

Dubbed the Putin limo, the Aurus Senat is a Russian-built limousine in the shape of the famous ZIL sedan that once carried Soviet leaders.The global luxury car market is expected to rise from its initial estimated value of $101 billion in 2018 to $246 billion by 2026, due rising levels of disposable incomes.Sales of premium cars probably have peaked globally, threatening the business model of Germany’s luxury automakers, according to analyst Philippe Houchois, managing director of Jefferies Group.