Photo courtesy of Vrtucar Community CarShare is planning to dissolve due to financial issues, according to an article by The Record. The article reported that Community CarShare’s total liabilities were nearly $796,500 and total assets were just under $227,000 as of April 2017. The nonprofit carsharing cooperative received a letter of intent from Vrtucar, an… Continue reading Vrtucar to Acquire Community CarShare
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Kia, Repsol Launch WiBLE Carsharing Service in Madrid
WiBLE will launch in Madrid in late 2018. Photo via Ángela Ojeda Heyper/Flickr Kia Motors Iberia and Repsol announced their partnership to launch a new carsharing service called WiBLE (Widely Accessible, very accessible). WiBLE will launch in Madrid, due to the Spanish capital’s geography and demographics which lend well to a carsharing market. Details about the operation of the service are… Continue reading Kia, Repsol Launch WiBLE Carsharing Service in Madrid
Mercedes will build an electric version of its popular Sprinter van
Daimler It’s all well and good to drive your own electric car, but what about the companies delivering your mail or fixing your water heater? They could stand to benefit from EVs, too — and Mercedes-Benz is happy to help out. It’s launching a refreshed Sprinter van that will, for the first time, include an… Continue reading Mercedes will build an electric version of its popular Sprinter van
GM posts strong 2017 despite losses
General Motors headquarters is seen in the Renaissance Center in Detroit. (Photo: Stan Honda / Getty Images) General Motors Co. was the only Detroit automaker to post a net loss in 2017, down $3.9 billion as it adjusts for the new tax law and takes one last hit from the money-losing European business it sold… Continue reading GM posts strong 2017 despite losses
Ride-hailing app Grab to launch autonomous taxis before 2022
Ride-hailing app Grab to launch autonomous taxis before 2022 Subscribe to Premium now What do you get in your Premium Subscription package? Lex Column – The FT’s daily guide to the corporate and financial stories that matter. Since the 1930’s Lex has been providing concise, readable and timely commentary on companies, markets and the theory… Continue reading Ride-hailing app Grab to launch autonomous taxis before 2022
Embark’s self-driving semi completes trip from California to Florida
Embark Last year, autonomous trucking company Embark announced that it would begin using its Level 2 autonomous semis to deliver refrigerators from Texas to California. Now, TechCrunch reports, the company has taken it a step further as one of its trucks has now completed a 2,400 mile trip from Los Angeles to Jacksonville, Florida. The… Continue reading Embark’s self-driving semi completes trip from California to Florida
Mitsubishi Motors Q3 profit jumps 19 fold to $865 mn
As part of the alliance that includes Nissan and Renault, Mitsubishi Motors is also targeting cost-savings of more than 100 billion yen over the next three years due to development and procurement efficiencies. TOKYO: Mitsubishi Motors Corp on Monday said its operating profit more than doubled during the third quarter as higher sales in Asia… Continue reading Mitsubishi Motors Q3 profit jumps 19 fold to $865 mn
First look at Ionity ‘ultra-fast’ charging network map of planned stations
Ionity, the new ‘ultra-fast’ joint electric car charging network by BMW, Mercedes, Ford and Volkswagen, is slowly starting to take shape in Europe and now we get to see the map of their planned stations for the first time. Home Solar Power This new network is believed by many to be the most important electric vehicle charging infrastructure effort… Continue reading First look at Ionity ‘ultra-fast’ charging network map of planned stations
After profit beat, GM looks to trucks, SUVs to rev up margins
DETROIT (Reuters) – General Motors Co (GM.N) said on Tuesday a richer mix of full-size pickups and mid-size SUVs in North America should help it offset higher commodity costs in 2018 and maintain pretax margins above 10 percent. The automaker posted better-than-expected quarterly results as cost cutting and higher vehicle prices offset a double-digit decline… Continue reading After profit beat, GM looks to trucks, SUVs to rev up margins
GM reports $3.9 billion loss for 2017
General Motors headquarters is seen in the Renaissance Center in Detroit. (Photo: Stan Honda / Getty Images) General Motors Co. reported Tuesday a loss of $3.9 billion in 2017, due largely to charges related to the new tax law and the Opel-Vauxhall sale, in what the company characterized as a very strong year. Even though… Continue reading GM reports $3.9 billion loss for 2017