After months of breathless anticipation and a week of bro-tastic testimony, the Waymo v. Uber lawsuit, in which Google’s driverless tech arm sued the ride-hailing pioneer over allegedly stolen autonomous vehicle technology, is over. In a surprise move, Uber announced today that it has settled with Waymo, offering the company 0.34 percent of Uber’s equity at its current… Continue reading Uber and Waymo Reach $245M Settlement in Driverless Tech Lawsuit
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Groupe PSA acquires a controlling interest in Jian Xin, a Chinese automotive spare parts distributor
With this acquisition, Groupe PSA will be able to accelerate the rollout of its aftermarket offering in China by rapidly establishing its position in the market, which represents 130 million vehicles. Created more than 20 years ago, Jian Xin is currently the leading spare parts distributor in the Shanghai region. Every year, it sells more… Continue reading Groupe PSA acquires a controlling interest in Jian Xin, a Chinese automotive spare parts distributor
China Digest: Farasis Energy raises $790m, Codoon secures $20m
February 9, 2018 Venture capital and private equity firms in China continue to invest in the country’s tech firms, with Farasis Energy and Codoon raising fresh funds recently, according to a China Money Network report. China Venture Capital backs Farasis Energy’s $790m Series C Farasis Energy (Ganzhou), a Chinese lithium-ion battery company headquartered in California,… Continue reading China Digest: Farasis Energy raises $790m, Codoon secures $20m
2018:THE WORLD IS MOVING IN RIVERSIMPLE’S DIRECTION
Air pollution concerns have really brought the need for clean cars to the fore. Now that combustion-engined vehicles have a ‘Sell By’ date of 2040, there is much greater focus on practical and viable alternatives and the question of scale is surfacing. What are the 34 million cars in the UK alone going to be… Continue reading 2018:THE WORLD IS MOVING IN RIVERSIMPLE’S DIRECTION
Singapore: ComfortDelGro expands UK footprint, buys over insurance JV
February 9, 2018 ComfortDelGro Corporation is expanding its footprint in the United Kingdom through the acquisition of a bus and coach operator in South Wales for £13.4 million ($18.7 million). Additionally, it has bought over an insurance joint venture it launched in 2003. The acquisition of New Adventure Travel (NAT) Group in the UK was conducted through… Continue reading Singapore: ComfortDelGro expands UK footprint, buys over insurance JV
Toyota invests $69M in Japanese Uber rival backed by the taxi industry
This week isn’t turning out to be great one for Uber in Japan. Two of its investors — Didi and SoftBank — are teaming up to launch a rival service, while one of its existing competitors has just landed a big cash infusion and highly influential backer after Toyota backed JapanTaxi. The auto giant said it… Continue reading Toyota invests $69M in Japanese Uber rival backed by the taxi industry
DENSO Taps Technical Expert Takuya Oikawa to Enhance Information and Communications Technology Business
KARIYA (Japan) ― DENSO Corporation, one of the world’s largest automotive suppliers, today announced it has agreed to a technical adviser contract with Takuya Oikawa, a leading global developer of software products. The global automotive industry continues to shift dramatically, with greater concentration on electrification, automated driving and connected driving. Competition from other diverse industries… Continue reading DENSO Taps Technical Expert Takuya Oikawa to Enhance Information and Communications Technology Business
Subscription Vehicle Service Canvas Celebrates Growth, Looks for Continued Expansion in 2018
Canvas expanded its flexible, subscription-based alternative to car ownership in 2017 and now serves 600 customers in the San Francisco Bay Area and Los Angeles The Ford Credit subsidiary has made multiple enhancements, including more vehicles and more options to allow customers to personalize their subscription experience The Canvas fleet has been driven more than… Continue reading Subscription Vehicle Service Canvas Celebrates Growth, Looks for Continued Expansion in 2018
Ford’s Facelifted Van Aimed at Baby Boomers Reliving Glory Days
Ford Motor Co. is looking to revive an aging workhorse with a facelift, technology injection and appeal to baby boomers looking to relive their “magic bus” days. The automaker pioneered the compact commercial van market in the U.S. when it brought the Transit Connect over from Europe about nine years ago. Ford still controls nearly… Continue reading Ford’s Facelifted Van Aimed at Baby Boomers Reliving Glory Days
Deloitte anticipates the disastrous impact of Brexit on cars
The so-called “hard Brexit” scenario will have disastrous consequences for the British car industry, according to a study by Deloitte. The radical version of Brexit will take the UK back ten years, at the height of the financial crisis. This is the conclusion drawn by the Deloitte study, published on February 8, 2018. In its… Continue reading Deloitte anticipates the disastrous impact of Brexit on cars