Days after raising $500 million via a strategic investment from travel giant Booking Holdings, Chinese ride-hailing giant Didi Chuxing has continued its international push with the launch of a local business in Japan. Its new Japan-based unit is a joint venture with SoftBank, a longtime Didi investor, which has been in the works since an announcement back… Continue reading China’s Didi Chuxing is close to launching a taxi-booking service in Japan
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Volvo juggling XC60 production to avoid U.S. tariffs – CEO
PARIS, July 19 (Reuters) – Volvo Cars (IPO-VOLVO.ST) is shifting XC60 SUV production for the U.S. market to Europe from China to avoid Washington’s new tariffs on Chinese imports, the Swedish carmaker said. Volvo, owned by China’s Geely, currently builds the compact XC60 in Sweden for European customers and in China for other markets including… Continue reading Volvo juggling XC60 production to avoid U.S. tariffs – CEO
Asahi Kasei to buy U.S. Sage Automotive for $1.06 bln
TOKYO (Reuters) – Japan’s Asahi Kasei Corp (3407.T) said on Thursday it would buy U.S. car interior maker Sage Automotive Interiors for $1.06 bln, including debt. Asahi Kasei said the acquisition is aimed at strengthening its position in the car interior market. It said it would disclose the impact of the acquisition on its earnings… Continue reading Asahi Kasei to buy U.S. Sage Automotive for $1.06 bln
Big bang at the German Continental
Eleven years after its acquisition of Siemens VDO for more than 11 billion euros, the German Continental is preparing to partially cede these activities. With 40,000 employees for a turnover The transmission division (Powertrain) is expected to be listed on the stock market from mid-2019 as part of a major reorganization, the second-largest German automotive… Continue reading Big bang at the German Continental
Volvo Cars reports record operating profit of SEK 4.2bn for the second quarter of 2018
Volvo Cars reports record operating profit of SEK 4.2bn for the second quarter of 2018 Volvo Cars today reported its highest ever quarterly operating profit of SEK4.2 billion for the second quarter of 2018, an increase of 28.6 per cent compared with the same period last year driven by a strong increase in global… Continue reading Volvo Cars reports record operating profit of SEK 4.2bn for the second quarter of 2018
SoftBank Vision Fund leads $121m Series D funding in imaging firm Light
July 19, 2018 Camera technology company Light has announced the closing of a $121 million Series D funding round led by the SoftBank Vision Fund, with participation from Leica Camera AG. The SoftBank Vision Fund investment will be made in tranches, subject to certain conditions, the company said in an official release. Founded in 2013… Continue reading SoftBank Vision Fund leads $121m Series D funding in imaging firm Light
Apple continues to ramp up testing of its self-driving car technology in California
Apple is continuing to expand its testing of autonomous vehicles. According to new details from macReports, the company now has upwards of 65 autonomous vehicles on the road in California, continuing the gradual increase that has been taking place over recent months… Sylvania HomeKit Light Strip This information comes from records filed with the California… Continue reading Apple continues to ramp up testing of its self-driving car technology in California
UPDATE 2-Continental AG restructures, prepares Powertrain for 2019 IPO
FRANKFURT (Reuters) – German auto supplier Continental (CONG.DE) on Wednesday said it will list its Powertrain unit as early as mid-2019 as part of a broader restructuring in response to far-reaching shifts in the auto industry towards electric and self-driving technologies. FILE PHOTO: Flags of German tyre company Continental are seen before the annual news… Continue reading UPDATE 2-Continental AG restructures, prepares Powertrain for 2019 IPO
Why Lyft President John Zimmer Thinks Scooters and Bikes Are Special
Lyft’s plan to change how people get to the grocery store and commute to work involves scooters and bicycles. Lyft co-founder and president John Zimmer said Tuesday at Fortune’s Brainstorm Tech Conference in Aspen, Colo. that his company’s mission has always been about providing an alternative to car ownership. And in some cases, “a bike… Continue reading Why Lyft President John Zimmer Thinks Scooters and Bikes Are Special
Formula E: Renault passes the torch to Nissan
Tuesday 17 July 2018 by Eleonore BARREYRE – Sports Eleonore BARREYRE Share on Twitter Share on Facebook Share on LinkedIn Share on Pinterest Four years of success, innovation and emotion! In October 2017, Renault announced that it was withdrawing from the FIA Formula E Championship–the fully electric, single-seater competition–at the end of the fourth season.… Continue reading Formula E: Renault passes the torch to Nissan