Bolt, a rival to Uber and others providing on-demand ridesharing, scooters and other transportation services across some 150 cities in Europe and Africa, is today announcing another capital raise as it weathers a difficult market climate where, because of COVID-19, many are staying in place and avoiding modes of transport that put them into contact… Continue reading Bolt, the European on-demand transport company, raises $109M on a $1.9B valuation
Tag: Daimler
Aston Martin chief leaves after 94% share price collapse
Struggling luxury UK carmaker Aston Martin has announced that chief executive Andy Palmer has stepped down. Tobias Moers is taking over from 1 August, with Keith Stanton filling the gap as interim chief operating officer. Mr Moers joins from Mercedes’ high-performance subsidiary AMG, where he is currently chief executive. Aston Martin was struggling before the… Continue reading Aston Martin chief leaves after 94% share price collapse
McLaren to cut 1,200 jobs as virus hits demand
UK supercar maker and Formula 1 team McLaren plans to cut more than a quarter of its workforce after the coronavirus crisis hit sales and advertising revenue. The firm employs about 4,000 people, and of the 1,200 to be made redundant, the vast majority will be in the UK. Formula 1 racing has been suspended,… Continue reading McLaren to cut 1,200 jobs as virus hits demand
@Daimler: Battery production in Kamenz gradually increases production capacities
Stuttgart/Kamenz. Local battery production is an important success factor for Mercedes-Benz AG’s electric offensive and the key element to flexibly and efficiently meet the global demand for electrified vehicles. The company is therefore focusing on establishing a global battery production network and is investing more than one billion EUR to this end. The network will… Continue reading @Daimler: Battery production in Kamenz gradually increases production capacities
@Daimler: 26. May 2020Rolls-Royce and Daimler Truck AG plan cooperation on stationary fuel-cell systems
May 26, 2020 – Daimler Truck AG and Rolls-Royce plc plan to cooperate on stationary fuel-cell generators as CO2-neutral emergency power generators for safety-critical facilities such as data centers. They are to offer emission-free alternatives to diesel engines, which are currently used as emergency power generators or to cover peak loads. The companies have signed… Continue reading @Daimler: 26. May 2020Rolls-Royce and Daimler Truck AG plan cooperation on stationary fuel-cell systems
Farasis Energy To Launch $480 Million IPO: Daimler To Participate?
The Chinese lithium-ion battery manufacturer Farasis Energy has received an approval to raise about 3.44 billion yuan ($480 million) in an initial public offering (IPO) on STAR board (Chinese equivalent of NASDAQ). According to Reuters‘ unofficial sources, Daimler is expected to participate in the IPO, as the German company already ordered batteries from Farasis, and… Continue reading Farasis Energy To Launch $480 Million IPO: Daimler To Participate?
Daimler to invest in Chinese EV battery maker Farasis’ $480 million IPO: sources
BEIJING/HONG KONG (Reuters) – Daimler AG (DAIGn.DE) plans to invest in Farasis Energy’s planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said. FILE PHOTO: Employees wearing face masks work at a plant of Daimler-BAIC… Continue reading Daimler to invest in Chinese EV battery maker Farasis’ $480 million IPO: sources
Daimler Forges Ahead with Plans for Electric Flagship Sedan
Daimler AG is pushing ahead with plans to produce an all-electric version of its flagship Mercedes S-Class sedan from next year even as it cuts back in other areas to weather a slump in demand across the industry.
Aston Martin chief to leave, Mercedes-AMG CEO to replace him
May 24 (Reuters) – Aston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday.
The luxury carmaker said in an emailed statement that it is reviewing its management team but declined to comment on Palmer's fate.
Palmer and Germany's Daimler AG, which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, also declined to comment.
The Financial Times newspaper had reported earlier that the Aston Martin chief was going to leave as part of a shake-up of its leadership, with an official announcement expected on Tuesday.
Palmer had not been informed of the upcoming announcement, the newspaper reported.
Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018.
The 107-year old British luxury carmaker earlier t..
UPDATE 2-Aston Martin chief to leave, Mercedes-AMG CEO to replace him – source
(Reuters) – Aston Martin (AML.L) Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday. Andy Palmer, President and Group CEO, Aston Martin Lagonda, speaks at the opening of the new… Continue reading UPDATE 2-Aston Martin chief to leave, Mercedes-AMG CEO to replace him – source