Category: Newswire

Turkey unveils first domestically-produced electric car

Turkey unveiled its first fully domestically-produced car on Friday, saying it aimed to eventually produce up to 175,000 a year of the electric vehicle in a project expected to cost 22 billion lira ($3.7 billion) over 13 years.The consortium, called Turkey’s Automobile Initiative Group (TOGG), was established in mid 2018 by five industrial groups: Anadolu Group, BMC, Kok Group, mobile phone operator Turkcell and Zorlu Holding, the parent of TV maker Vestel .TOGG’s CEO is former Bosch executive Gurcan Karakas and its chief operating officer is Sergio Rocha, former General Motors Korea chief executive.

Erdogan unveils prototypes of Turkey’s first domestic car

Turkish President Recep Tayyip Erdogan has unveiled prototypes of a domestically-produced electric car, putting him closer to fulfilling a long-held dream of building Turkey’s first “national” automobile.The vehicle is being produced by a consortium of five Turkish companies called the Automobile Initiative Group of Turkey, or TOGG.During the 1960s, a group of Turkish engineers built prototypes of a car called Devrim, or Revolution in English,.

BMW Korea wins lawsuit against government’s emission-related fine

BMW Korea has virtually won a lawsuit against the over 60 billion-won (US$51.7) fine imposed by the government over the auto company’s gas emission verification, sources said Saturday.In September, the Supreme Court of Korea convicted BMW Korea of illegally skipping the compulsory gas emission verification process and forging related documents in the period of 2012-2017, leading to the government’s imposition of a 62.7 billion-won fine on the company.The administrative court pointed out the environment ministry incorrectly applied the outdated Clean Air Conservation Act’s ban on “the production of sales of cars without a (gas emission) verification,” while BMW Korea was convicted of “illegally winning (gas emission) verification.”

Aurus cars to be presented in ten colors

MOSCOW, December 25. /TASS/. Russian luxury cars Aurus will initially have ten colors, although the color range can be expanded later on, Industry Minister Denis Manturov said in an interview with the Izvestiya newspaper published on Wednesday.
“We will start from about ten colors, including ‘Latte Macchiato,' ‘Velvet Ruby,' ‘Red Desert,' and others. The color range can then be expanded significantly as part of customization,” Manturov said.
The number of orders for Aurus cars is already above 600. About 200 vehicles are planned to be produced in the next year.
Aurus is a Russian brand of cars for senior officials. The car was designed as part of the Cortege project, which has been implemented by NAMI (Central Scientific Research Automobile and Automotive Engines Institute) in Moscow, Russia, since 2013. The project envisages the creation of the line of cars on the base of a single platform (sedan, limousine, minivan and sport utility vehicle, or SUV).

Rivian announces $1.3 billion funding round led by T. Rowe Price

“This investment demonstrates confidence in our team, products, technology and strategy – we are extremely excited to have the support from such strong shareholders,” said Rivian Founder and CEO RJ Scaringe. The investment announcement is Rivian’s fourth of 2019. In February, Rivian announced a $700 million funding round led by Amazon. In April, Rivian announced… Continue reading Rivian announces $1.3 billion funding round led by T. Rowe Price

parkken app’s New Parking Gauge Looks to Be a Game Changer

NEW YORK, Dec. 23, 2019 /PRNewswire/ — NYC is the crucible of urban parking, both on its popular streets and in its crowded garages. The competition is fierce and parking regulations are arcane and confusing even to longtime residents.  To help the city’s residents and visitors make sense of it all, there have been many… Continue reading parkken app’s New Parking Gauge Looks to Be a Game Changer

Visteon Appoints Jerome Rouquet as Senior Vice President, Finance, and Chief Financial Officer

VAN BUREN TOWNSHIP, Mich., Dec. 19, 2019 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC), a global leader in vehicle cockpit electronics, today announced that Jerome Rouquet has been appointed senior vice president, finance, effective Jan. 21, 2020. Rouquet will become Visteon’s chief financial officer following the filing of the company’s fiscal 2019 financial statements with… Continue reading Visteon Appoints Jerome Rouquet as Senior Vice President, Finance, and Chief Financial Officer