Carwow, a London, UK-based car marketplace, raised £25m strategic financing round. The round was led by Daimler with participation from Balderton, Accel and Vitruvian. In conjunction with the funding, Daimler executive Axel Harries will join Carwow’s board of directors. The company intends to use the funds to continue to expand operations and business reach and… Continue reading Carwow Raises £25M Strategic Financing Round
Tag: Strategy
38% of dealers plan to buy less used diesel stock
Declining demand for diesel stock is starting to impact the used car market according to the latest NextGear Capital sentiment survey. Almost a third of dealers surveyed reported experiencing a fall-off in demand for diesel stock. A fifth expect demand to decrease more in the next six months compared to the first half of the… Continue reading 38% of dealers plan to buy less used diesel stock
SoftBank-backed Fair taps three executives to lead vehicle subscription app expansion
Fair, the vehicle subscription startup backed by SoftBank, is loading its executive team with veterans in the tech, venture and automotive industries as it seeks to build out its Uber leasing program and expand beyond North America. Fair.com today announced three key hires to lead the development of its car subscription app, financing department and… Continue reading SoftBank-backed Fair taps three executives to lead vehicle subscription app expansion
FIRST-HALF 2019 RESULTS: RCI BANK AND SERVICES MAINTAINS A HIGH-LEVEL SALES AND FINANCIAL PERFORMANCE IN A SHARPLY DECLINING AUTOMOTIVE MARKET
Despite the downturn in the automotive sector, RCI Bank and Services stabilized its volume of financing contracts, set a new penetration rate record[1] and continued to develop its services activity. RCI Bank and Services continues performing financially at a record level in the first-half of 2019. 918,504 new financing contracts, for a total of… Continue reading FIRST-HALF 2019 RESULTS: RCI BANK AND SERVICES MAINTAINS A HIGH-LEVEL SALES AND FINANCIAL PERFORMANCE IN A SHARPLY DECLINING AUTOMOTIVE MARKET
Press: ZF Posts Half-Year Financial Results; Reacts to Difficult Market Environment
ZF generated sales of approximately €18.4 billion in the first half of 2019 Adjusted EBIT stands at some €650 million Measures have been taken to improve results Investments focus on strategic technology areas of autonomous driving and electromobility Friedrichshafen, Germany. In the first six months of this year, ZF Friedrichshafen AG generated sales of approximately… Continue reading Press: ZF Posts Half-Year Financial Results; Reacts to Difficult Market Environment
Volvo Cars, China in first blockchain project for recycled cobalt
* Blockchain maps cobalt from recycling plant to finished car * DRC cobalt poses biggest challenge * Volvo also joining DRC cobalt pilot By Barbara Lewis LONDON, Aug 2 (Reuters) – Volvo Cars, owned by China’s Geely , has produced the first cars containing recycled cobalt mapped using a blockchain, and has joined a separate… Continue reading Volvo Cars, China in first blockchain project for recycled cobalt
Trump hits China with more tariffs, says Xi moving too slowly on trade
By Andrea Shalal and Alexandra Alper WASHINGTON (Reuters) – U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply raising the stakes in a bruising trade war with China and jolting global financial markets. The announcement on Thursday extends Trump’s trade tariffs to nearly all… Continue reading Trump hits China with more tariffs, says Xi moving too slowly on trade
Nidec to Form a Joint Venture with a Subsidiary of China-Based Guangzhou Automobile Group Company for Automotive Traction Motors
FOR IMMEDIATE RELEASE
Nidec Corporation
Tokyo Stock Exchange code: 6594
Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
Released on August 1, 2019, in Kyoto, Japan
Nidec to Form a Joint Venture with a Subsidiary of China-Based Guangzhou Automobile Group Company for Automotive Traction Motors
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that it has adopted at a meeting of the Board of Directors held on August 1, 2019 a resolution to execute a contract with GAC Components Co., Ltd. (“GAC Components”), a member of China-based Guangzhou Automobile Group Co., Ltd. (“Guangzhou Automobile Group”), to establish a joint venture to manufacture automotive traction motors.
The closing of this case will be subject to approval by competition authorities.
1. Purpose of This Transaction and Operation Policy Going Forward
Nidec has been expanding and strengthening its automotive motor business, one of the C..
New electric Citroen C4 hatch to target VW ID. 3
Citroen will take a “bold step” with its replacement for the C4 when the car arrives next year, the company’s product strategy boss has promised. As revealed by Auto Express earlier this year, the Ford Focus and VW Golf rival is being replaced by an all-new model. However, it won’t sit on the PSA Group’s EMP2 platform, like the Peugeot 308, but rather… Continue reading New electric Citroen C4 hatch to target VW ID. 3
Statement Dr. Nicolas Peter, Member of the Board of Management of BMW AG, Finance, Conference Call Interim Report to 30 June 2019
Ladies and Gentlemen, The BMW Group remains on course after the first six months of 2019. In a challenging, declining overall market, we increased our segment share. As previously announced, the operating result for the Automotive Segment has improved compared to the first quarter and we are on track to meet our goals for the… Continue reading Statement Dr. Nicolas Peter, Member of the Board of Management of BMW AG, Finance, Conference Call Interim Report to 30 June 2019