Handelsblatt Interview: The World According to Zetsche – Handelsblatt Global Edition

Daimler CEO Dieter Zetsche talks to Handelsblatt. Dieter Zetsche, chief executive of Germany’s largest luxury carmaker, spent an hour reflecting on where he and the company are heading in an interview in Stuttgart’s Mercedes-Benz museum. With two million cars sold, countless ideas about the future of mobility and his own new, more casual image, Mr.… Continue reading Handelsblatt Interview: The World According to Zetsche – Handelsblatt Global Edition

Embark Announces $30 Million Series B led by Sequoia

Embark Announces $30 Million Series B led by Sequoia Alex RodriguesBlockedUnblockFollowFollowing Jul 19, 2018 Today, Embark is proud to announce our $30 million Series B. The round was led by Sequoia Capital, with participation from our existing investors including Data Collective, YCombinator, SV Angel, and AME Cloud. With Sequoia partner Pat Grady joining our board and… Continue reading Embark Announces $30 Million Series B led by Sequoia

TomTom Expands Partnership with Microsoft to Power Microsoft Cloud Offerings with Location-Based Services

AMSTERDAM & REDMOND, Wash.–(BUSINESS WIRE)–TomTom (TOM2) and Microsoft Corp. (MSFT) today announced that they are expanding their partnership, bringing TomTom’s maps and traffic data into a multitude of mapping scenarios across Microsoft’s cloud services. With this broadened integration, TomTom will be a leading location data provider for Microsoft Azure and Bing Maps. TomTom is also… Continue reading TomTom Expands Partnership with Microsoft to Power Microsoft Cloud Offerings with Location-Based Services

Nissan will have to reapply for UK govt funding after X-Trail decision -Business minister

LONDON, Feb 4 (Reuters) – British Business Minister Greg Clark said on Monday Nissan will need to reapply for government funding made available to the car industry, after it scrapped plans to build its new X-Trail SUV in Britain. Earlier on Monday the government published a letter Clark wrote to Nissan in 2016 which included… Continue reading Nissan will have to reapply for UK govt funding after X-Trail decision -Business minister

Uwe Hück steps up his social commitment

“Uwe Hück is a tough opponent – both in the boxing ring and at the negotiating table. He’s a bighearted man who doesn’t mince his words. Not only has he achieved a lot for the Porsche workforce and our company, but also his voice carries a great deal of weight in society and the world… Continue reading Uwe Hück steps up his social commitment

Swedes unite: NEVS pairs Saab with Swedish supercarmaker Koenigsegg

Koenigsegg Agera FE Thor and Vader
Swedish automakers all seem to be going electric, and Chinese investors are bringing them together.

In the latest announcement last week, Hong Kong health-insurance conglomerate Evergrande Health flexed its muscle to scoop up a second Swedish automaker.

Last month, Evergrande, which became most famous in the U.S. for its previous tumultuous investment in Faraday Future, bought a controlling interest National Electric Vehicle Sweden, which represents essentially the remainder of Swedish automaker Saab.

DON'T MISS: Faraday Future funder writes its own Saab story

NEVS now builds electric versions of the last Saab 9-3 for sale in China, and they constitute a large portion of ride-sharing cars in the country.

Last week, Evergrande added to its Swedish auto-making stable when NEVS bought Swedish exotic automaker Koenigsegg, once known for building the fastest production car in the world.

The deal, valued at $170 million, gives NEVS a 20 percent stake in the exotic automaker.

CHECK OUT: With cease-fire agreement, spark flickers toward Faraday's Future

Evergrande has announced its intention to add an electric-car component to its conglomerate and has been scooping up the small Swedes since a large portion of its investment in Faraday Future dissolved in January following legal warfare. The Swedish investments followed quickly after Evergrande and Faraday Future agreed to restrict their tie-up to end their disputes last month.

Koenigsegg builds hyper-exotic sports cars capable of speeds well over 250 mph.

Other hypercar-makers, such as the newly spun-off Pininfarina, and Serbian Rimac, as well as traditional automakers breaking into making such cars, have announced that they will go all electric, which may put pressure on competitors such as Koenigsegg to launch electric exotics as well.

READ THIS: Storied Pininfarina to launch new line of exotic electric cars

As Michael Perschke, CEO of Pininfarina told Green Car Reports last July, “It no longer works to launch an aspirational brand with a gas engine. You have to start in the 21st Century.”

Joining forces with NEVS and Evergrande could give Koenigsegg access to electric-car technology and supplies.

If that happens, it won't be immediate. Koenigsegg announced on Friday that it is developing a new “entry-level” car for $1.15 million that will have a cam-less gasoline engine.

NEVS 9-3 concept, 2017 CES Asia

It's also possible that Koenigsegg simply wants some space in Saab's old factory in Trollhättan, Sweden, which this deal specifically provides.

Saab's former Swedish rival Volvo is also owned by a Chinese automaker, Geely, which has announced that it plans to convert the brand to focus on electric and plug-in cars.

Volkswagen’s Electrify America buys Tesla devices for EV charging stations

DETROIT (Reuters) – Volkswagen AG unit Electrify America said on Monday it will install Tesla Inc battery storage packs at more than 100 charging stations across the United States to keep costs down for drivers charging electric vehicles. FILE PHOTO: Tesla PowerPack battery storage project is on display during its unveiling in Mira Loma, California,… Continue reading Volkswagen’s Electrify America buys Tesla devices for EV charging stations

UK offered Nissan Brexit assurances, 80 million pounds for car investment

LONDON (Reuters) – Britain promised Nissan up to 80 million pounds ($104 million) of support and offered Brexit-related assurances to help secure a major investment from the Japanese carmaker in 2016, according to a well-guarded letter released on Monday. FILE PHOTO: Nissan car plant in Sunderland, northern England, June 24, 2010. REUTERS/Nigel Roddis/File Photo Nissan… Continue reading UK offered Nissan Brexit assurances, 80 million pounds for car investment

Allison Transmission Schedules Fourth Quarter 2018 Earnings Conference Call

INDIANAPOLIS–(BUSINESS WIRE)–Allison Transmission Holdings Inc. (NYSE: ALSN), the largest global provider of commercial duty fully-automatic transmissions, today announced that it will hold its fourth quarter 2018 financial results conference call at 8:00 a.m. ET on Tuesday, February 26. President and Chief Executive Officer David S. Graziosi and Vice President, Chief Financial Officer and Treasurer Frederick… Continue reading Allison Transmission Schedules Fourth Quarter 2018 Earnings Conference Call

Marshall acquires Sandicliffe Skoda franchises in Nottingham and Leicester

Marshall Motor Group has acquired Sandicliffe Motor Group’s Skoda franchises in Nottingham and Leicester to its portfolio of UK dealership sites. The AM100’s seventh-placed retail group took its representation of the Czech brand to seven sites across the UK with the move, which was announced by chief executive, Daksh Gupta, via Twitter over the weekend.… Continue reading Marshall acquires Sandicliffe Skoda franchises in Nottingham and Leicester