It starts troubled time for Opel. CEO Karl-Thomas Neumann is on the go, and the future head boss Carlos Tavares calls a clear deadline for the jump into the profit zone. Opel plant in Kaiserslautern Monday, 12.06.2017 11:25 clock The car manufacturer Opel must after a Acquisition by the French PSA Group quickly head for… Continue reading PSA boss Tavarez expects to hit the black by 2020
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Fiat Chrysler participates in Alliance for robot cars
Wednesday, 08/16/2017 13:26 clock Fiat Chrysler wants to work with you in the future BMW and the US chip specialist Intel Assistance Systems for self-driving cars develop. The Italian-American concern with brands such as Fiat, Chrysler, Jeep and Alfa Romeo joins for it as the first automaker of the alliance founded last year, as the… Continue reading Fiat Chrysler participates in Alliance for
robot cars
Volkswagen To Invest $12B To Launch 40 EV Models In China By 2025
Automotive manufacturer Volkswagen AG has said it will invest over US$12 billion by 2020 with its Chinese partners to launch as many as 40 new electric and hybrid vehicle models in China by 2025. The first of the new models could enter the Chinese market as early as next year, Jochem Heizmann, the head of… Continue reading Volkswagen To Invest $12B To Launch 40 EV Models In China By 2025
Ford, Zotye Automobile To Establish China Electric Vehicle Joint Venture
Ford Motor Co has signed a memorandum of understanding with China’s Anhui Zotye Automobile Co., Ltd. to jointly manufacturing all-electric vehicles in China. Under the agreement, a 50-50 joint venture will develop, produce, market and service a new line of all-electric passenger vehicles. The vehicles will be marketed under an indigenous brand name owned by… Continue reading Ford, Zotye Automobile To Establish China Electric Vehicle Joint Venture
BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round
Chinese car maker Beijing Automotive Group’s (BAIC Group) electric vehicle business unit, BAIC BJEV, has raised a RMB11.1 billion (US$1.6 billion) series B round from 14 investors, including state-owned enterprises China Cinda Asset Management Co., Ltd. and Zhongji Investment, a firm co-founded by the Hebei provincial government. The round values BJEV at RMB28 billion (US$4.2… Continue reading BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round
Chinese Provinces Race For Lead In Electric Vehicle Innovation
Provinces across China are vying to attract electric vehicle companies and projects, positioning themselves to benefit most as China aspires to become a world leader in electric vehicle innovation. The latest region to score big is the Guian New Area, a 1,795 square kilometer economic zone located near Guiyang city in sleepy Guizhou province. China’s… Continue reading Chinese Provinces Race For Lead In Electric Vehicle Innovation
Go Scale Capital Joins $70M New Funding Round In Protean Electric
Go Scale Capital, Zhejiang VIE Science & Technology and Tianjin THSG Corporation have led a US$70 million new financing round in Protean Electric, an in-wheel electric drive system developer, according to a company announcement. Existing investors Oak Investment Partners and GSR Ventures also participated in the round. The new funding will be used to ramp… Continue reading Go Scale Capital Joins $70M New Funding Round In Protean Electric
Chinese Bike Rental Firm Ofo Increases Bike Deposits To RMB199 From RMB99
Beijing-based bike rental company ofo today increased the deposit new users must pay to borrow bikes to RMB199 (US$29) from RMB99 (US$14.5) previously. Despite the increase, ofo’s deposit price remains significantly less than the RMB299 deposits required by rival Mobike. ofo can charge a smaller deposits because its bright yellow bikes are relatively cheap to… Continue reading Chinese Bike Rental Firm Ofo Increases Bike Deposits To RMB199 From RMB99
Tencent Leads $600 Million Series E Financing Round In Mobike
Chinese bike rental firm Mobike has raised over US$600 million in a series E financing round led by Tencent Holdings Ltd., the largest financing round to date in the bike sharing space, the firm announced today. It brings the company’s total fundraising this year to nearly US$1 billion. The round was joined by existing investors… Continue reading Tencent Leads $600 Million Series E Financing Round In Mobike
Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry
Tencent Holdings Ltd. has signed a strategic partnership agreement with Guangzhou Automobile Group Co., Ltd. to discuss possible cooperation in automobile e-commerce, automobile insurance and new energy vehicles, according to a statement issued by Guangzhou Automobile Group. The agreement with Guangzhou Automobile Group, whose shares traded on Hong Kong and Shanghai stock exchanges soared on… Continue reading Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry