Tag: Financial Results

Auto parts supplier: Schaeffler increases conversion speed and wants to delete 900 jobs

Assembly in the Schweinfurt factory The European plants are to be rearranged, small parts of the business to be sold. (Photo: Bloomberg) MunichThe pressure on the SchaefflerGroup comes from two sides: On the one hand, the automotive supplier like many competitors suffers from the weak economy in the automotive industry. Last year, the family-owned company… Continue reading Auto parts supplier: Schaeffler increases conversion speed and wants to delete 900 jobs

NIO Inc. Reports Unaudited Fourth Quarter and Full Year 2018 Financial Results

Quarterly Total Revenues reached RMB3,435.6 million (US$499.7 million)(1)Quarterly Deliveries of the ES8 reached 7,980 vehicles Full Year Total Revenues reached RMB4,951.2 million (US$720.1 million)Full Year Deliveries of the ES8 reached 11,348 vehicles (2) SHANGHAI, China, March 05, 2019 (GLOBE NEWSWIRE) —  NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium electric vehicle… Continue reading NIO Inc. Reports Unaudited Fourth Quarter and Full Year 2018 Financial Results

Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b

March 6, 2019 Ride-hailing unicorn Grab has raised $1.46 billion in fresh funding from the SoftBank Vision Fund, bringing the total amassed in its ongoing Series H to $4.5 billion, according to a statement on Wednesday. SoftBank Group Corp is an existing Grab investor. It first bought a stake in Grab for $250 million in… Continue reading Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b

Elon Musk wasn’t wrong about automating the Model 3 assembly line — he was just ahead of his time

In 2017, when Tesla announced incredibly ambitious Model 3 production targets of 5,000 Model 3s per week and the beginning of “production hell,” analysts were wary. But Elon Musk insisted he could pull it off, citing hyper-automation — a robotic assembly line — as his secret weapon to increase manufacturing speed and drive down costs.… Continue reading Elon Musk wasn’t wrong about automating the Model 3 assembly line — he was just ahead of his time

Audi’s new Q4 e-tron concept is a compact electric crossover with 280 miles of range

Audi today provided an advanced look at what will be its fifth production electric vehicle, a compact crossover concept that is expected to come to market at the end of 2020. The all-electric Q4 e-tron SUV concept, which was revealed at the Geneva International Motor Show, is equipped with dual motors with a power output… Continue reading Audi’s new Q4 e-tron concept is a compact electric crossover with 280 miles of range

Investindustrial Acquires Majority Stake In Morgan Motor Company

5th March 2019 – Investindustrial has today announced the acquisition of a majority stake in Morgan Motor Company Ltd (“Morgan”), the iconic 110-year old British sports cars manufacturer. Terms of the transaction were not disclosed, and it is expected to complete in April 2019. The Morgan family will continue to act as stewards for the… Continue reading Investindustrial Acquires Majority Stake In Morgan Motor Company

Tesla blames misprinted label for China customs hiccup

BENGALURU/SHANGHAI (Reuters) – Tesla Inc said on Tuesday that China’s customs authorities have accepted the electric carmaker’s plan to resolve problems with the clearance of its Model 3 sedans that centered around misprinting of labels. FILE PHOTO: A Tesla Model 3 car leaves a cargo vessel at a port in Shanghai, China February 22, 2019.… Continue reading Tesla blames misprinted label for China customs hiccup

China agrees to Tesla remedy for Model 3 customs block: source

BENGALURU/SHANGHAI (Reuters) – China’s customs authorities have accepted Tesla Inc’s plan to remedy problems with the clearance of imported cars, a source familiar with the matter told Reuters on Tuesday. FILE PHOTO: A Tesla Model 3 car leaves a cargo vessel at a port in Shanghai, China February 22, 2019. REUTERS/Stringer Financial publication Caixin reported… Continue reading China agrees to Tesla remedy for Model 3 customs block: source