Tag: BMW

BMW are less subsidized for plant in Leipzig to

Tuesday, 09/12/2017 12:51 clock BMW stand for the production of electric cars in Leipzig, according to a ruling of the EU court less subsidies than announced. Instead of a regional investment subsidy of 45 million euros, the state could only help with 17 million euros, judges ruled in Luxembourg. The court followed the view of… Continue reading BMW are less subsidized for plant in Leipzig
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Future Mobility Raises $200 Million In Financing Round At $750 Million Valuation

Chinese electric vehicle manufacturer Future Mobility Corp. has raised a new funding round worth US$200 million from a group of unnamed investment institutions and large enterprises, according to a securities disclosure document. The round values the company, founded in 2016 by two veteran automobile executives from BMW Group and Infiniti China, at US$750 million post-money,… Continue reading Future Mobility Raises $200 Million In Financing Round At $750 Million Valuation

US customers filed a class action lawsuit against German car companies on

Thursday, 07/27/2017 15:46 clock The cartel allegations against German carmakers could also have legal consequences in the USA. Throw three customers Volkswagen . Daimler and BMW to have violated US competition law, among other things with illegal agreements on prices and exhaust technology. The corresponding Complaint behind which the law firm Robins Kaplan stands ,… Continue reading US customers filed a class action lawsuit against German car companies
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LeEco Founder Jia Yueting Sells Stake In US EV Firm Lucid Motors

Amidst an ongoing liquidity crisis, the founder of Chinese tech conglomerate LeEco has sold his stake in Menlo Park, California-based electric vehicle company Lucid Motors. Jia Yueting, who once dreamed of creating a Chinese tech juggernaut combining the attributes of Netflix, Apple and Tesla, revealed the news of his divestment last week during an especially… Continue reading LeEco Founder Jia Yueting Sells Stake In US EV Firm Lucid Motors

1st year of Taxify South Africa

Taxify recently celebrated its 1st birthday in South Africa after launching back in 2016! Over this short period, Taxify has had a great impact on the way they have been moving riders across the country. What happened within the first year: Taxify Expanded to 3 of South Africa’s biggest cities within 6 months of launch.… Continue reading 1st year of Taxify South Africa

Fiat Chrysler participates in Alliance for robot cars

Wednesday, 08/16/2017 13:26 clock Fiat Chrysler wants to work with you in the future BMW and the US chip specialist Intel Assistance Systems for self-driving cars develop. The Italian-American concern with brands such as Fiat, Chrysler, Jeep and Alfa Romeo joins for it as the first automaker of the alliance founded last year, as the… Continue reading Fiat Chrysler participates in Alliance for
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China’s Baidu Rumored To Lead $140M Round In Electric Vehicle Start-up WM Motor

Chinese Internet company Baidu Inc. is reportedly leading a new funding round of roughly RMB1 billion (US$140 million) in WM Motor, an electric vehicle start-up founded by Freeman Shen, the former chairman of Volvo Car Group China. Tencent Holdings Ltd., which also backs WM Motor’s rival NIO, is reportedly aiming to co-lead the round, according… Continue reading China’s Baidu Rumored To Lead $140M Round In Electric Vehicle Start-up WM Motor

EV Charging Station Firm Chargerlink Secures $20M Venture Funding

Chargerlink, a Shenzhen-based start-up focused on providing charging station solutions for the electric vehicles (EV) sector, has secured US$20 million series A round, the largest venture funding in the EV services market in China. According to Chinese media reports, four Chinese investors participated in the round, which will be used to expand the company’s business.… Continue reading EV Charging Station Firm Chargerlink Secures $20M Venture Funding

China Harmony New Energy Auto’s After-Sales Unit Raises $41M

Hong Kong-listed China Harmony New Energy Auto Holding Ltd. has completed a spin-off of an after-sales unit, which has reached agreements to received RMB280 million (US$41 million) from a few strategic investors, according to a disclosure filing. Automobile industry-focused investment firm Leaguer Auto and Aotuo Investment have agreed to invest in Independent Aftersales Company, an… Continue reading China Harmony New Energy Auto’s After-Sales Unit Raises $41M