Britain would suffer most if it lost free trade with European markets since 80 percent of vehicles assembled in the country are exported, mostly to the European Union. But for Germany the stakes are also high. In 2016, Britain was the largest single export market for German manufacturers, who sold 800,000 new cars there, or… Continue reading Britain’s luxury automakers prepare for worst as Brexit looms – Automotive News Europe
Tag: Renault
Koenigsegg to accelerate growth in the hyper car market with EUR 150 million funding from NEVS (National Electric Vehicle Sweden)
Koenigsegg to accelerate growth in the hyper car market with EUR 150 million funding from NEVS
TROLLHÄTTAN, Sweden, 30-Jan-2019 — /EuropaWire/ — NEVS (National Electric Vehicle Sweden) has just announced it purchased 20 percent minority stake in Koenigsegg’s parent company for EUR 150 million.
The high-performance sports cars maker Koenigsegg will use the new capital to accelerate growth in the hyper car market, as well as to break ground into an untapped market segment together with NEVS. The two companies are planning to develop parallel vehicle models in slightly higher volumes with emphasis on electrification.
In addition to this partnership, the companies are establishing a joint venture to expand into new market segments where NEVS AB is contributing USD 150 million in the form of starting capital for a 65 percent stake while Koenigsegg will control 35 percent by contributing primarily with intellectual property, technology licenses, and product design.
The new partnership steps on already existing collaboration between NEVS and Koenigsegg, creating synergies between their geographical footprints, experiences and competencies.
Koenigsegg will access additional capabilities as well as benefit from the extensive automotive knowledge in Trollhättan, where the production facilities of NEVS are located while maintaining their centre of excellence in Ängelholm. NEVS has also production capacity in China and through its majority owner Evergrande has also access to wide distribution channels through ownership in one of China’s largest car retailers.
Additional synergies may be created in the automobile battery segment due to the deal NEVS’ majority owner Evergrande announced last week where it acquired 58.07 percent in automobile battery maker Shanghai CENAT New Energy Co Ltd. The deal is valued at $156 million.
At the moment the deal was announced NEVS has about 650 employees while Koenigsegg Automotive AB relies on 115 people.
Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB:
“Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. To be able to expand our investment in the Swedish automotive industry through a company that we know and have an established relationship with, is an important step for us. We have both competencies and facilities to support Koenigsegg on their journey forward, something we look very much forward to”.
Christian von Koenigsegg, Founder and CEO of Koenigsegg:
“Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products. This partnership will create the best conditions for Koenigsegg to accelerate growth in the hyper car market, as well as enabling us to break ground into an untapped market segment together with NEVS. We very much look forward to working together with NEVS to develop products that ensure a sustainable future”.
Koenigsegg Automotive AB is based in Ängelholm, southern Sweden since 2003. The building had previously been home to the Swedish Air Force and once housed JAS 39 Gripen fighter jets.
NEVS has growing operations in China where the company’s first plant in Tianjin was finalized in 2018 and during 2019 serial production of NEVS 9-3 EV is planned to begin. In the meantime, new plant in Shanghai is under construction, scheduled for production of EV cars during 2020.
SOURCE: Koenigsegg / NEVS
Logo:
Koenigsegg logo
MORE ON ELECTRIC VEHICLES, MOBILITY, ELECTRIFICATION, EQUITY, NEVS:
ENGIE and Arval launch new green transport offer that aims to simplify access to electric vehicles – ENGIE, the global energy company and major player in charging infrastructure for electric vehicles, and Arval, the global specialist in corporate vehicle fleet leasing, have announced the launch of a new green transport…
Volkswagen world premieres modular electric drive matrix (MEB): a technology platform developed specifically for electric vehicles – Volkswagen is driving the transition to e-mobility with a consistency and commitment unlike that of virtually any other automaker. As part of the ELECTRIC FOR ALL campaign launched today, the brand will be putting attractive models at affordable prices on the road, paving the way for the breakthrough of electric vehicles…
Volkswagen Group China, Anhui Jianghuai Automobile Group Corp. and SEAT to establish new R&D center on developing electric vehicles, connectivity and autonomous driving technologies – Volkswagen Group China today signed a Memorandum of Understanding with Anhui Jianghuai Automobile Group Corp., Ltd. (JAC) and SEAT in Berlin, in the presence of German Chancellor Angela Merkel and Chinese Premier Li Keqiang. The three groups will together establish a new R&D center with a focus on developing electric vehicles…
Renault Trucks to launch range of electric vehicles in 2019 – Electromobility is the cornerstone of Renault Trucks´ strategy to highlight sustainable urban transport. Zero-emission vehicles help improve air quality, curb climate change and also reduce congestion thanks to noise-free out-of-hours deliveries…
Siemens Mobility’s new tram Avenio M begins service on new Line 2 in Ulm, Germany – The Avenio M from Siemens Mobility has begun service on the new Line 2 in Ulm, Germany. The approximately ten-kilometer long tram line, which connects Ulm’s Science City with the Kuhberg district…
IAA Cars 2019 launches new formats to give visitors an all-round experience of the mobility solutions of tomorrow – The IAA Cars 2019, which will take place in Frankfurt from September 12 to 22, is the leading international platform for the mobility of tomorrow. The IAA 2019 is heading into new territory by launching new formats such as the IAA Conference and the IAA Experience…
ABB strengthens #2 global position in electrification with the completion of GE Industrial Solutions acquisition – ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year…
Leading OEMs Meet to Discuss Electrification and 48V Architectures in Europe – Co-located with the Electric Vehicle & Hybrid Vehicle Technology Conference Europe, the two-track event brings together over 70 high-calibre speakers to examine the major topics currently affecting the battery industry…
Eni to acquire 20% equity in ADNOC Refining for $3.3 billion after deduction of the net debt and subject to closing adjustments – The agreed price for the 20 percent stake in the refinery, being $3.3 billion, corresponds to an enterprise value of approximately $3.9 billion (Eni share). The acquisition is subject to satisfaction of a number of conditions precedent, including clearance from UAE and other regulatory authorities…
Worldline completes SIX Payment Services acquisition; SIX now holds 27% equity stake in Worldline – As communicated in May 2018, SIX, the parent company of SIX Payment Services, announced today the completion of the acquisition of SIX Payment Services by Worldline. As part of this transaction SIX now holds a 27% equity stake in Worldline and will take two seats in the Worldline Board of Directors…
Sweden based mobility provider NEVS unveils In-Motion concept of the future urban mobility solutions at CES Asia 2017 – The NEVS InMotion concept has been created as a vision for level 5 autonomous vehicle, where the interior will be adapted for what the passengers need it for. Flexibility is a key word for InMotion…
Swedish NEVS at CES Asia: Our solution goes far beyond car ownership – we are rethinking mobility as a whole – For the first time, NEVS displays the InMotion Concept. This is a totally new way of showing flexible future urban mobility in a major city, with many new exciting features, both when it comes to design and functions…
Microsoft’s advanced Cloud technology to power NEVS’ mobility solutions globally – With the vision in shaping for a more sustainable future, Sweden based mobility provider NEVS participated in CES Asia 2017, unveiling In-Motion concept of the future urban mobility solutions …
More news stories and press releases on electric vehicles…
More news stories and press releases on mobility…
More news stories and press releases on electrification…
More news stories and press releases on equity…
More news stories and press releases on NEVS…
Tweet
Share
0
+1
0
Carlos Ghosn claims ‘plot and treason’ led to arrest
Kyodo | Reuters
A court sketch, drawn by Nobutoshi Katsuyama, shows ousted Nissan Motor Chairman Carlos Ghosn during a January open hearing to hear the reason for his continued detention, at Tokyo District Court in Tokyo, Japan.
Speaking from his Tokyo prison, the former Chairman of Renault-Nissan Carlos Ghosn told Japanese media that “plot and treason” by Nissan management led to his arrest.
In his first interview since being jailed, Ghosn told the Nikkei Asian Review on Wednesday that his plan to further integrate the automakers Nissan, Renault and Mitsubishi had triggered his downfall.
Ghosn said closer integration had been discussed with Nissan President Hiroto Saikawa in September but Saikawa had excluded Mitsubishi's CEO from the talks.
The tycoon reportedly said he had “no doubt” the legal charges against him were a result of “plot and treason” by Nissan management who opposed the strategy.
According to Ghosn, people who wanted to remove him from his role had also created a false image that his reign was a dictatorship.
“People translated strong leadership to dictator, to distort reality,” Ghosn said.
Nissan confirms SEC inquiry into company payment practices
7:29 AM ET Mon, 28 Jan 2019 | 00:38
Ghosn, along with former Nissan Director Greg Kelly, have now spent more than 70 days in jail.
Japanese prosecutors claimed the pair failed to declare around $43 million in deferred compensation between the years of 2010 and 2015. Ghosn is also accused of transferring personal trading losses to the company books.
Nissan has also separately accused Ghosn of receiving improper payments as well as using a third-party to purchase luxury properties in Rio de Janeiro and Beirut. The Brazilian-born businessman denies all the charges.
When asked about his health, the 64-year-old said he was “doing fine” and that life in the detention center was “up and down.”
On suggestions that he is being kept in prison as he is considered a flight risk, Ghosn responded: “I won't flee, I will defend (myself).”
French auto firm Renault holds a 43 percent stake in Nissan, while Nissan holds 15 percent of Renaults stock and a 34 percent stake in Mitsubushi Motors.
For more on this story please click here.
Avinew Raises $5M in Seed Funding
Dan Peate Avinew, a Westlake Village, Calif.-based insurtech company focused on autonomous and semi-autonomous auto insurance, raised $5M in seed funding. The round was led by Crosscut, with participation from American Family Ventures, Draper Frontier, and RPM Ventures. Led by Dan Peate, Founder and CEO, Jeremy Snyder, COO, Mike Cassanego, General Counsel and Co-founder, and… Continue reading Avinew Raises $5M in Seed Funding
Bestmile teams with StreetDrone to add autonomous & connected vehicle management to Xenos platform
Bestmile, a mobility services platform used to plan, manage, and optimize autonomous and human-driven vehicle fleets, announced that it has partnered with StreetDrone, maker of intelligent, connected self-driving technology. The integration of the Bestmile Mobility Services Platform into StreetDrone’s Xenos platform enables StreetDrone to offer a complete vehicle and mobility service operating system. Aside from major… Continue reading Bestmile teams with StreetDrone to add autonomous & connected vehicle management to Xenos platform
Ghosn says Nissan executives used ‘plot and treason’ to halt Renault integration: Nikkei
TOKYO (Reuters) – Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to “plot and treason” to disrupt them and were behind the financial misconduct allegations against him. FILE PHOTO: Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, poses after the Renault’s 2015 annual results… Continue reading Ghosn says Nissan executives used ‘plot and treason’ to halt Renault integration: Nikkei
Mitsubishi Motors Carves a New Creation for Geneva
TOKYO–(BUSINESS WIRE)–Mitsubishi Motors is famous for carving its own niche. Soon its latest creation will be revealed, bringing more SUV capability, EV efficiency, technology and style to the lineup. Named after a beautiful, rugged Alpine town with a history of sporting success, the MITSUBISHI ENGELBERG TOURER will make its debut at the Geneva International Motor… Continue reading Mitsubishi Motors Carves a New Creation for Geneva
Renault-Nissan group sold most cars last year, but VW’s No.1 including trucks
FILE PHOTO: An attendee takes a photograph of Volkswagen cars at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Rebecca Cook TOKYO (Reuters) – Volkswagen Group has held on to its position as the world’s top-selling automaker for the fifth year in a row, although the German group was edged… Continue reading Renault-Nissan group sold most cars last year, but VW’s No.1 including trucks
UPDATE 2-Japan’s Akebono Brake seeking capital from Toyota, debt relief
TOKYO (Reuters) – Japan’s Akebono Brake Industry Co Ltd is seeking a capital infusion from top shareholder Toyota Motor Corp and a moratorium on debt repayment as part of a revival plan, sending its shares tumbling by a quarter on Wednesday. The brake maker, a supplier to automakers including General Motors Co which makes up about… Continue reading UPDATE 2-Japan’s Akebono Brake seeking capital from Toyota, debt relief
Some of the fastest electric-car chargers were down: Would anyone have noticed yet? (Updated)
Follow Bengt
Electrify America DC fast chargers
UPDATE: As of Tuesday morning Electrify America said that it is “restoring full capacity to its entire network” after the potentially affected charging cables cleared extensive testing, and it called the original incident spurring the shutdown “an isolated event” at a private facility with a prototype cable. Thus, we updated the story title to reflect that they “were down” rather than “are down.”
Electric car owners who are planning to use the DC fast chargers that are part of the Electrify America network may want to allow a little extra time in their plans over the coming days and weeks.
That’s because on Friday, Electrify America made a decision to shut down all of its charging connectors that can run up to 150-kw and 350-kw on the CCS (Combo) standard.
DON’T MISS: Electrify America switches on the first 350 kw station
The list of vehicles that today can potentially use CCS fast charging above 50 kw is very limited. The Jaguar I-Pace charges at 100 kw, and the Hyundai Kona Electric peaks at just over 70 kw. Deliveries of the Audi e-tron, the first vehicle that can truly take advantage of the full 150 kw, don't start for another few months.
With I-Pace deliveries settling in at maybe a couple hundred a month and the Kona Electric just starting, that’s a total of just 600-700 vehicles currently in use in all of the U.S., by our estimates.
All of those 150-kw and 350-kw connectors are normally, however, perfectly compatible with a 50-kw charge. So in the present electric-car landscape, what it really means is that there will be fewer plugs available for a time.
CHECK OUT: Electrify America launches “Jetstones” ad campaign
It should be noted that this same issue affects charges on the Fastned and Ionity networks in Europe, where more vehicles are likely directly affected. Tesla for instance is already providing CCS compatibility for European vehicles, at up to 120 kw, but not in the U.S.
The higher-power hardware affected by the issue uses cooled charging cables supplied by Switzerland-based supplier Huber+Suhner, which notes that at a test site in Germany a short circuit occurred in the charging plug (connector). The liquid cooling system for the cables wasn’t the issue, and as of Monday was still troubleshooting the situation.
Electrify America DC fast chargers in Gulfport, Mississippi
The issue affects all DC fast chargers from Electrify America that can charge at more than 50 kw. It doesn’t affect 50-kw CCS fast chargers, or Level 2 chargers.
READ MORE: Electrify America lays out plans for second round of chargers in California
If you drive a Nissan Leaf, you’re also in luck. According to Electrify America, all 89 of its locations currently have charging up and running through their 50-kw CHAdeMO connectors. Most of those multi-connector stations also offer CCS (Combo) charging connectors at 50 kw that are unaffected by this issue as the cables are from another supplier, ITT Cannon.
The decision to shut down the U.S. chargers was made, as Electrify America CEO Giovanni Palazzo put it in an official statement, “out of an abundance of caution.”
Both Electrify America and Huber+Suhner indicated that they’re seeking to resolve this issue as quickly as possible—although the chargers won’t be available again until the Swiss supplier completes an investigation and makes a decision about the remedy.