There’s a new unicorn in the global ride-hailing space after Taxify, a startup born in Estonia that does battle with Uber across Europe and Africa, closed $175 million in new funding that takes it valuation to the $1 billion mark. Daimler, the German automotive giant which owns Mercedes-Benz among other things, led the round. The investment… Continue reading Uber’s European rival Taxify raises $175M led by Daimler at a $1B valuation
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UPDATE 1-Daimler leads $175 mln investment in Uber’s EMEA rival Taxify
LONDON (Reuters) – Estonia’s Taxify is set to step up its fight against global rival Uber [UBER.UL] across Europe and Africa after raising $175 million in funding from a group led by German automaker Daimler (DAIGn.DE). FILE PHOTO: The Taxify logo is pictured on a taxi cab in Riga, Estonia January 15, 2015. REUTERS/Ints Kalnins/File… Continue reading UPDATE 1-Daimler leads $175 mln investment in Uber’s EMEA rival Taxify
Nissan production, sales and export results for April 2018
YOKOHAMA, Japan (May 30, 2018) – Nissan Motor Co., Ltd. today announced production, sales and export figures for April 2018. 1. Production Nissan’s global production in April declined from a year earlier. Production in Japan surpassed year-earlier results for the second consecutive month. Production outside Japan declined from a year earlier. Production in the U.K.… Continue reading Nissan production, sales and export results for April 2018
UK electric motor firm Equipmake ready to become world’s top supplier
Equipmake, the Norfolk-based electronics R&D company, is about to begin an unprecedented expansion phase that, within five years, will convert it to a tier one manufacturer of electric motors for cars, making “hundreds of thousands a year”. The firm, which over the past decade has used a highly successful phase designing KERS systems for Formula… Continue reading UK electric motor firm Equipmake ready to become world’s top supplier
Europe-wide day of action
30.05.2018 Ι Fusion in the railway industry: Siemens Mobility and Alstom go together. A Europe-wide Day of Action today saw thousands of workers joining for collateral and guarantees for all sites in Europe. So far, the companies have made specific commitments only for the German and French locations. Thousands of employees of Alstom and Siemens… Continue reading Europe-wide day of action
labor dispute
30.05.2018 Ι For the first time in its history, the employees of the development service provider IAV went on a warning strike for two hours. After three fruitless collective bargaining, they finally want a fair deal. However, the management insists on significant reductions in the starting salaries at IAV. The employees, however, do not want… Continue reading labor dispute
American Axle loan refinancing expected to be shelved as markets soften – sources
NEW YORK (LPC) – A refinancing transaction for driveline system maker American Axle & Manufacturing is expected to be shelved as a softening in the equity and corporate debt markets is making investors wary of buying into new leveraged loans that could lose value in the secondary market, sources said. JP Morgan is leading the… Continue reading American Axle loan refinancing expected to be shelved as markets soften – sources
World’s Largest Battery Maker Seeks $2 Billion In IPO, But Will Raise Only $850 Million?
11 M BY MARK KANE Contemporary Amperex Technology Ltd. (CATL), one of the biggest manufacturers of lithium-ion batteries for vehicles, would like to raise 13.1 billion yuan ($2 billion) by selling a 10% stake, at a valuation of about $20 billion. However, according to Bloomberg, after profitability weakened, the company is valuated at just $8.5… Continue reading World’s Largest Battery Maker Seeks $2 Billion In IPO, But Will Raise Only $850 Million?
Tesla Model 3 drives 606 miles on a single charge in hypermiling record
It only took 32 hours of continuous driving in sweltering temperatures, but two Colorado residents have set a new “hypermiling” record by driving their Tesla Model 3 606.2 miles (975 km) on a single charge. It beat a previous record of 560 miles from a Tesla Model S P100D, but it fell slightly short of… Continue reading Tesla Model 3 drives 606 miles on a single charge in hypermiling record
Fisker’s comeback powered by new battery
“We are going to see a huge disruption in mobility. We will see a large amount of new type of vehicles emerge, which will make 20 or 30, or 40 percent of our time more efficient”Henrik Fisker Automotive design maven Henrik Fisker’s new venture might be less about the automobile than the technology that will… Continue reading Fisker’s comeback powered by new battery