Uber is sending tens of thousands of its electric Jump bikes to the scrap yard, weeks after offloading the money-losing bike-share division on Lime. The news of the scrapped bikes has incensed bike enthusiasts on social media, one of whom decried the act as “unconscionable.” Uber confirmed in a statement that it was “recycling” many… Continue reading Uber is scrapping tens of thousands of Jump bikes during a nationwide bike shortage – The Verge
Tag: M and A
Volkswagen will sell its new European EVs in a similar way to Tesla — here’s how it works
Volkswagen will sell its all-electric ID family of cars through a hybrid dealer and direct sales model. The new model is effective in Europe only at this point. Volkswagen will announce how it will sell its electric cars in the US at a later date. Visit Business Insider’s homepage for more stories. Tesla famously uses… Continue reading Volkswagen will sell its new European EVs in a similar way to Tesla — here’s how it works
@Mitsubishi: Alliance New Cooperation Business Model to Support Member-Company Competitiveness and Profitability
TOKYO, May 27, 2020 – (JCN Newswire) – Groupe Renault, Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation, the members of one of the world’s leading automotive alliances, today announced several initiatives as part of a new cooperation business model to enhance the competitiveness and profitability of the three partner companies. The member companies plan… Continue reading @Mitsubishi: Alliance New Cooperation Business Model to Support Member-Company Competitiveness and Profitability
Renault, Nissan abandon race for growth to focus on costs
Renault SA and Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp. unveiled a plan for deeper cooperation in developing and building vehicles as they seek to salvage their strained alliance and weather a collapse in car demand. The measures will help deliver savings of as much as 40% in model investments for jointly developed… Continue reading Renault, Nissan abandon race for growth to focus on costs
Michelin welcomes the government’s support plan for the automotive industry in France
Michelin welcomes the government’s support plan for the automotive industry in France An essential support plan for the sector The government has just announced an ambitious plan to support the automotive industry in France. Globally, the automotive industry has been severely impacted by the Covid-19 crisis, at a time when it was already facing the… Continue reading Michelin welcomes the government’s support plan for the automotive industry in France
Aston Martin underlines the tricky part of the Treasury’s rescue effort | Nils Pratley
T he last lap of Andy Palmer’s reign as chief executive of Aston Martin was the cruellest. As he lost his job, the share price rose 28%. The market’s implied judgment was harsh but fair: a new driver was desperately needed to give credibility to Aston Martin’s latest pitch about corporate turnaround. Palmer, said his… Continue reading Aston Martin underlines the tricky part of the Treasury’s rescue effort | Nils Pratley
Rumor: Ford To Use BYD’s Batteries In Cars Sold In China
According to a short report, Ford may soon equip some of its plug-in hybrid models in China with lithium-ion battery cells (NMC) from BYD. The news comes from the Moneyball and is reportedly based on the latest list, released by Ministry of Industry and Information Technology (MIIT). We guess that if the partnership takes on… Continue reading Rumor: Ford To Use BYD’s Batteries In Cars Sold In China
SoftBank-backed Ola Electric acquires Dutch scooter company Etergo
A unit of SoftBank Group-backed Indian ride-hailing company Ola will buy Amsterdam-based electric scooter company Etergo as part of its plan to locally build electric vehicles (EVs), the company said on Wednesday. Ola Electric did not disclose the amount it was paying to acquire Etergo, which was last valued at around 84 million euros ($92… Continue reading SoftBank-backed Ola Electric acquires Dutch scooter company Etergo
Renault and Nissan rule out merger as they unveil survival plan
PARIS/TOKYO (Reuters) – Renault (RENA.PA), Nissan Motor Co (7201.T) and Mitsubishi Motors Corp (7211.T) ruled out a merger on Wednesday and instead said they would cooperate more closely on vehicle development to slash costs and salvage their troubled alliance. FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front of dealerships… Continue reading Renault and Nissan rule out merger as they unveil survival plan
China’s Chery Auto plans to sell cars in EU, United States: chairman
FILE PHOTO: A visitor walks next to a Chery car during the 16th Shanghai International Automobile Industry Exhibition in Shanghai, April 20, 2015. REUTERS/Carlos Barria BEIJING (Reuters) – China’s Chery Automobile, which has a manufacturing partnership with Jaguar Land Rover (JLR) (TAMO.NS), is planning to sell its own-branded cars in the European Union and United… Continue reading China’s Chery Auto plans to sell cars in EU, United States: chairman