14. December 2018 The Supervisory Board of Borgward Group AG has appointed Xiuzhan Zhu as Chief Executive Officer of the company. Borgward announced this in Stuttgart. Xiuzhan Zhu succeeds Dr. Philip Koehn as CEO with effect from November 6, 2018. Xiuzhan Zhu joined Borgward as Vice President Purchasing & Strategic Projects from the beginning of… Continue reading Xiuzhan Zhu becomes new CEO of Borgward Group AG
Tag: Strategy
Auto parts supplier: Continental says goodbye to the combustion engine
Continental employees The supplier is investing more in e-mobility. (Photo: Bloomberg) Dusseldorf Less turnover, less profit and rising debt – Continental has already experienced better times. The worldwide decline in automobile production is dehumanizing the Dax Group. Sales in the second quarter fell by one percent to 11.3 billion euros, adjusted EBIT by almost 25… Continue reading Auto parts supplier: Continental says goodbye to the combustion engine
Europcar Acquires Fox Rent A Car
Europcar Mobility Group expects the transaction to be neutral to its earnings per share in 2020 and to become fully accretive from 2021 onwards. Photo via Travelarz/Wikimedia. Europcar Mobility Group has signed an agreement with Fox Rent A Car’s three founders to acquire a 100% stake in one of the largest independent players of the… Continue reading Europcar Acquires Fox Rent A Car
Analysis: Continental says goodbye to the combustion engine
Continental employees The supplier is investing more in e-mobility. (Photo: Bloomberg) Dusseldorf Less turnover, less profit and rising debt – Continental has already experienced better times. The worldwide decline in automobile production is dying DaxCorporation the balance sheet. Sales in the second quarter fell by one percent to 11.3 billion euros, adjusted EBIT by almost… Continue reading Analysis: Continental says goodbye to the combustion engine
Powertrain Business to Change Course and Focus on the Electric Future and Clean Air
Stronger focus on electrified drive systems and e-mobility Powertrain CEO Andreas Wolf: “Our customers are increasingly turning to the electrification of drive systems, so we are concentrating systematically on this area.” Decreasing investment in hydraulic components such as injectors and high-pressure pumps No market entrance into the production of solid-state battery cells Regensburg, August 7,… Continue reading Powertrain Business to Change Course and Focus on the Electric Future and Clean Air
Robert Bosch Venture Capital leads USD 17.5 million investment in Teralytics
About RBVC GmbH Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and… Continue reading Robert Bosch Venture Capital leads USD 17.5 million investment in Teralytics
EV startup NIO sold its Formula E racing team
Chinese EV startup NIO has sold the majority stake in its Formula E all-electric racing series team, according to longtime motorsports journalist Sam Smith. The company will remain a sponsor, a person familiar with the sale tells The Verge, but Chinese motorsports promotion company Lisheng Racing bought the stake and will run the team’s operations… Continue reading EV startup NIO sold its Formula E racing team
Self-driving truck startup Kodiak Robotics begins deliveries in Texas
A year after coming out of stealth mode with $40 million, self-driving truck startup Kodiak Robotics will begin making its first commercial deliveries in Texas. Kodiak will open a new facility in North Texas to support its freight operations along with increased testing in the state. There are some caveats to the milestone. Kodiak’s self-driving… Continue reading Self-driving truck startup Kodiak Robotics begins deliveries in Texas
Workhorse Group Takes Paper Hit Because Of Politically Fueled Share Run-Up
Tale of two Workhorses There are two Workhorse stories. The first is the company whose finances were so shaky earlier this year that investors questioned its ability to survive. It had a $35 million hedge fund loan but needed to raise money to meet liquidity terms of the deal. Workhorse shares traded at $0.74 as… Continue reading Workhorse Group Takes Paper Hit Because Of Politically Fueled Share Run-Up
Honda Plans to Race with Hybrid Powertrains in INDYCAR Racing
August 5, 2019 – TORRANCE, Calif TORRANCE, Calif – Aug. 5 – Honda today applauded the announcement by INDYCAR that it will introduce hybrid powertrains to race cars in the NTT Indycar Series for the 2022 season. The plan to begin using hybrid powertrains in a pinnacle racing series like INDYCAR parallels a recent announcement… Continue reading Honda Plans to Race with Hybrid Powertrains in INDYCAR Racing