UPDATE 1-VW plans to launch downscaled Traton IPO next week – sources

FRANKFURT (Reuters) – Volkswagen is looking to officially launch the stock market listing of its trucks unit Traton next week with a smaller deal size than originally anticipated, people close to the matter said on Tuesday. FILE PHOTO: The logo of Volkswagen’s truck unit Traton, former Volkswagen Truck & Bus AG, is pictured in Hanover,… Continue reading UPDATE 1-VW plans to launch downscaled Traton IPO next week – sources

Blindsided by FCA-Renault talks, Nissan risks being left by the roadside

TOKYO/BEIJING (Reuters) – Nissan found out about Renault’s merger talks with Fiat Chrysler just days before they became public, four sources told Reuters, stoking fears at the Japanese carmaker that a deal could further weaken its position in a 20-year alliance with Renault. FILE PHOTO: A finished Nissan Altima comes off of the flex line… Continue reading Blindsided by FCA-Renault talks, Nissan risks being left by the roadside

Beijing E-Town Capital inks JV with Nio, to invest $1.45b in new entity

China’s Nio Inc will form a joint venture with Beijing E-Town International Investment and Development Co. Ltd which will invest 10 billion yuan ($1.45 billion) in the new entity, the electric vehicle (EV) maker said in a statement on Tuesday. E-Town Capital will support a new manufacturing facility for Nio’s next-generation platform 2.0 (NP2) vehicles,… Continue reading Beijing E-Town Capital inks JV with Nio, to invest $1.45b in new entity

GAC-NIO Introduces Hycan Brand And Concept Electric SUV

Hycan is one of the latest new all-electric brands in China – a joint venture between GAC and NIO The GAC-NIO New Energy Automobile Co., a new joint venture, established by two Chinese manufacturers – GAC and NIO, introduced a new all-electric car brand Hycan and shows the first concept SUV with over 600 km… Continue reading GAC-NIO Introduces Hycan Brand And Concept Electric SUV

FCA Group proposes €32.6bn merger with Renault

Fiat Chrysler Automobiles has proposed a €32.6 billion (£28.3bn) all-share merger with Renault to forge a new alliance that could save the Italian carmaker “in excess of €5 billion”. Following the announcement of the proposal yesterday (May 27), shares in Renault, which began Monday with a market value of almost €15 billion, surged 13.8% in early… Continue reading FCA Group proposes €32.6bn merger with Renault

HONDA CONFIRM SIDE CAMERA MIRROR SYSTEM AS STANDARD FOR HONDA E

Side Camera Mirror System delivers design, safety and aerodynamic benefits Camera images are relayed to interior screens ergonomically positioned for drivers view Reservations for priority order of the Honda e are now open in selected European Markets Honda has confirmed that the Side Camera Mirror System seen on the prototype version of the new Honda… Continue reading HONDA CONFIRM SIDE CAMERA MIRROR SYSTEM AS STANDARD FOR HONDA E

France insists any Renault/Fiat deal must protect French jobs: Le Maire

PARIS (Reuters) – France must protect its own interests and jobs in any merger between Renault and Fiat, even though France’s stake in Renault would automatically be diluted, French Finance Minister Bruno Le Maire told RTL radio on Tuesday. FILE PHOTO: John Elkann, Chairman of Fiat Chrysler Automobiles (FCA), attends the presentation of the Science… Continue reading France insists any Renault/Fiat deal must protect French jobs: Le Maire

Autonomous vehicle pioneer doubles down on technology Tesla CEO Elon Musk calls ‘freaking stupid’

Chris Urmson, co-founder and chief executive officer of Aurora Innovation Inc.David Paul Morris | Bloomberg | Getty ImagesA pioneer in autonomous driving is doubling down on a self-driving technology called lidar that uses sensors to help navigate through traffic — just a few weeks after Tesla CEO Elon Musk called the technology “freaking stupid.”
Aurora CEO Chris Urmson said his company bought Blackmore, which develops and manufactures the sensors, for an undisclosed sum. Light detection and ranging technology uses light in the form of a pulsed laser to measure the distance of objects from cars, drones and other gadgets.
VIDEO3:1403:14We aren't ready for autonomous driving: Consumer Reports' FisherPower Lunch “Lidar is critical for developing the safest and most reliable self-driving system, one that can navigate our roads more safely than a human driver,” Urmson said in a statement announcing the acquisition of Blackmore.
Urmson's belief in lidar is important given his track record and reputation developing autonomous vehicles. For years, Urmson ran the Google self-driving car project that was later named Waymo, the autonomous vehicle company which is widely regarded as the leader in driverless cars. Urmson left Google in 2016 shortly before the tech giant rebranded its self-driving car program.
Urmson's endorsement of lidar technology stands in stark contrast to the opinion of the Tesla CEO. In April, Musk was outlining his company's plan to have up to a 1 million robotaxi Teslas that will be completely autonomous.
Close-up of self driving minivan, with LIDAR and other sensor units and logo visible, part of Google parent company Alphabet Inc, driving past historic railroad station with sign reading Mountain View, in the Silicon Valley town of Mountain View, California, with safety driver visible, October 28, 2018.Smith Collection/Gado | Archive Photos | Getty ImagesThe key to that plan is Tesla's Autopilot technology. Tesla's Navigate on Autopilot system relies primarily on cameras that see the road and feed data to the car's computers, which in turn help navigate the car through traffic. Tesla's Autopilot does not use lidar, which is a suite of sensors capable of seeing around cars and trucks to help autonomous vehicles steer through traffic.
“In cars it is freaking stupid. It is expensive and unnecessary,” Musk said of the lidar technology. “Once you solve vision, it is worthless.”
Aurora, Waymo, General Motor's Cruise and other automakers and tech firms find Musk's vision of lidar to be short-sighted and wrong. They've invested heavily in using lidar in the autonomous vehicles and technology they are developing and testing.
In the case of Aurora, Urmson says Blackmore's lidar “can see further with less power, measure velocity instantaneously, and are less susceptible to the challenges associated with heavy weather.
WATCH: Best way to get autonomous vehicles on the road
VIDEO3:2903:29The best way to get self-driving vehicles on the roadCNBC's Meghan Reeder contributed to this article.

Automobile Dacia posts all-time high profit in 2018

Romanian carmaker Automobile Dacia, a subsidiary of France’s Renault group, has registers a all-time high profit last year of EUR 162 million, up 40 percent compared to 2017.The group posted a total turnover of EUR 5.3 billion in 2018, an increase by 5 percent compared to the previous year.The results include only the Romanian businesses, excluding the Morocco factory that produces cars under Dacia brand.

Bloomberg: Volkswagen Reworks Battery Supply Deals

Volkswagen contracted Samsung SDI as one of several battery manufacturers, but now decreases the anticipated order from the South Korean supplier According to unofficial media reports, Volkswagen is making changes to its EV battery supply plans by decreasing the anticipated volume from Samsung SDI. The German manufacturer contracted several suppliers, including: Samsung SDI was expected… Continue reading Bloomberg: Volkswagen Reworks Battery Supply Deals