Bike taxi startup Rapido has raised around ₹400 crore in a round led by WestBridge Capital. New investors that have participated in this round include Alibaba’s BAce Capital and Shunwei Capital, along with existing investor Nexus, according to regulatory filings with the MCA, sourced from Paper.vc. This investment continues to mark the trend of investor… Continue reading India: Bike taxi startup Rapido raises $55.5m funding led by WestBridge
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Chinese carmaker Great Wall Motor Company cooperates with Ibeo Automotive Systems GmbH for self-driving production vehicles
Hamburg (Germany) / Baoding (China), 27th August 2019 – China’s largest SUV and pickup truck manufacturer Great Wall Motor Company nominates Hamburg-based automotive supplier Ibeo Automotive Systems GmbH as LiDAR supplier for its production vehicles. To ensure the validity and liability of the LiDAR, Beijing LiangDao Intelligent Automotive Technology Co., Ltd. will provide automatic testing… Continue reading Chinese carmaker Great Wall Motor Company cooperates with Ibeo Automotive Systems GmbH for self-driving production vehicles
Polestar opens its own factory to build flagship plug-in hybrid
Volvo’s Polestar electric performance vehicle brand is, step by step, asserting itself as a standalone automaker. And two of the largest leaps yet were announced by the brand today.
One of them is that Polestar’s first production facility, in Chengdu, is now open and making the Polestar 1, a sleek high-performance plug-in hybrid sport coupe.
Polestar is planning to deliver a first-year allocation of 200 Polestar 1 vehicles for the North American market later this year at a pre-order price of $155,000. Polestar calls the 600-horsepower, carbon-fiber bodied 1 to be the most exclusive electrified vehicle to be manufactured in China.
Polestar production facility and customer experience center – Chengdu, China
The production facility itself is claimed to be one of the most environmentally responsible car factories in China, with a goal of achieving LEED Gold status for holistic sustainability and energy-saving practices. It includes an adjacent customer experience center, with a test track and covered atrium showcasing a panoramic view out over the factory floor.
“Here in Chengdu we are not only manufacturing a premium hybrid-electric performance car,” said Thomas Ingenlath, the CEO of Polestar. “We have also created an inspirational manufacturing environment, a great place to work and visit. It truly reflects the Polestar brand.”
The Polestar 2, a model that will directly rival the Tesla Model 3, will be made in Luqiao, China, beginning in early 2020. A related Polestar 3 will compare to the Tesla Model Y.
Polestar 2
The second big announcement accompanying the factory start is that Polestar has been given a World Manufacturing Identifier, which inserts space from both Volvo, with which it shares some engineering resources and strategic decisions, and Geely, its parent company.
Depending on how the political drama plays out surrounding potentially high tariffs placed on cars made in China, that space from Volvo might not entirely be a good thing. Volvo Cars has inaugurated a U.S. assembly plant in Charleston, South Carolina, that can produce up to 150,000 vehicles annually and will create about 4,000 jobs over several years.
Being treated as a separate automaker will however help Polestar with respect to the federal EV tax credit. Even after Volvo delivers 200,000 eligible plug-in hybrid and electric vehicles, Polestar buyers will still be able to claim the full $7,500.
Can power napping solve electric car charging challenge?
STUTTGART, Germany (Reuters) – Automakers around the world are pushing hard for new networks that can charge electric cars fast. In Europe, some power companies and grid operators are testing whether it might be smarter and cheaper to move into the slow lane. An electric car parks next to a charging station in Ostfildern near… Continue reading Can power napping solve electric car charging challenge?
Maruti Suzuki cuts 3,000 contract jobs
Maruti Suzuki India Ltd Chairman R.C. Bhargava said that the company had not renewed the contracts of 3,000 temporary employees. NEW DELHI – Maruti Suzuki India Ltd Chairman R.C. Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand.… Continue reading Maruti Suzuki cuts 3,000 contract jobs
Mahindra Logistics strengthens its partnership with the Volkswagen Group India
Newsroom/Press Releases/Mahindra Logistics strengthens its par…
Mahindra Logistics strengthens its partnership with the Volkswagen Group India
~ Mahindra Logistics to service 2 lakh sq. ft. of warehousing space equipped with latest technology ~
Mumbai, 8 August 2019: Mahindra Logistics Limited (MLL), one of India’s largest Third-Party Logistics (3PL) solution providers, announced that it has further strengthened its association with the Volkswagen Group India, one of India’s leading car manufacturers. MLL will manage the first of its kind Parts Distribution Centre (PDC) of the Volkswagen Group, India at NCR and Bangalore. The project spans operating two best in class PDCs that will feed spare parts to the Volkswagen Group, India dealer partners in North, East and Southern regions of India.
As part of this solution, MLL will manage more than 200000 sq. ft. of warehousing space and PDC operations, servicing the Volkswagen Group, India through a variable and scalable model. Both state-of-the-art warehouses are specially designed and equipped with customized storage, diverse Material Handling Equipment (MHE) and the very latest in technological solutions. The technology solutions include Warehouse Management Systems (WMS), specialized packaging solutions to ensure quality and temperature-controlled zones for hazardous material.
MLL currently services the inbound and outbound transportation of spare parts from Regional Distribution Centre (RDC) in Chakan, Pune – including export and import, In-plant Logistics, Just in Time (JIT) & Just in Sequence (JIS) at the Volkswagen Group production facility in Chakan, Pune.
The start of this project once again reinforces MLL’s leadership in logistics solutions serving the automotive and engineering industries in India. With warehousing and transportation operations spanning 15 million square feet and 75000 vehicle placements per month, MLL continues to serve a diverse set of user industries, including e-commerce, consumer, pharma, people transport solution, in addition to auto and engineering.
It must be noted that MLL has played a very significant role of being a logistics partner by producing more than 6.5 lakh vehicles in the Volkswagen Group, India’s recent milestone of producing its 1 millionth vehicle from its Chakan facility.
Mr. Pirojshaw Sarkari, CEO – Mahindra Logistics, said, “We are very happy to be part of the Volkswagen Group's growth story over the last 6 years. This project is a testimony to our capabilities in automotive logistics and the continuous faith the industry has showered to 3PL players like us. We are certain that the Volkswagen Group, India will achieve the desired cost efficiency and more importantly, ensure that their products reach the end-user, on time.”
Mr. Justin Nolte, Director, Group After Sales & Vehicle Logistics – Volkswagen Group Sales India said, “We are pleased to have been associated with Mahindra Logistics and look forward to working collaboratively towards a strengthened supply chain network and an increased footprint under the ‘INDIA 2.0’ Project”.
About Mahindra Logistics
Mahindra Logistics Limited (MLL) is a portfolio company of Mahindra Partners, the USD 1 billion private equity division of the USD 20.7 billion Mahindra Group. MLL is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and people transport solutions. Founded more than a decade ago, MLL serves over 350 corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an “asset-light” business model, providing customised and technology enabled solutions that span across the supply chain and people transport operations.
For more information, visit www.mahindralogistics.com
About Mahindra Partners
Mahindra Partners is the 1 billion USD Incubation, Private Equity & Venture Capital division of the Mahindra Group. Its mission is to accelerate value creation through a diversified global portfolio of emergent businesses. The portfolio spans across multiple industries like logistics, steel processing, renewable energy, conveyor systems, retail, infrastructure consulting and skill building, luxury boat manufacturing and media. It has recently expanded operations in U.S. by investing in the IoT and shared mobility space.
For more information, visit www.mahindrapartners.com
About Mahindra
The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 240,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
European Countries Planning on Constructing Their Own Battery Cell Production Facilities
Followed by France and Germany, Norway also started to invest into making its own electric vehicle batteries. This recent trend where many European countries started to become self-sufficient in batteries shows that they are looking not to lose the control of automotive markets in the future.According to foreign press and South Korean industries, FREYR recently… Continue reading European Countries Planning on Constructing Their Own Battery Cell Production Facilities
TeraWatt Technology’s Solid-State Battery Checks In At 432 Wh/kg
And the company believes it can get it up to 450 Wh/kg with Tera 3.0 batteries. In a video, from January, Jack Rickard disassembled a Tesla Model 3 battery pack and said the 2170 cells it is made of had a 247 Wh/kg power density. When TeraWatt Technology announced on August 21 it had achieved… Continue reading TeraWatt Technology’s Solid-State Battery Checks In At 432 Wh/kg
sony and yamaha design driverless cart and mobile advertising board – Designboom
sony has partnered with yamaha to create an autonomous cart concept that double’s up as a mobile advertising board. the SC-1 sociable cart is designed for entertainment purposes including theme parks, golf courses and ‘commercial facilities.’ the all-electric cart seats five people and reaches a top speed of 12mph. replaceable batteries and uses additional image… Continue reading sony and yamaha design driverless cart and mobile advertising board – Designboom
Bollinger to unveil B2 electric pickup truck and B1 utility truck next month – Electrek
Bollinger Motors announced that it will unveil production prototypes of its B2 electric pickup truck and B1 electric utility truck next month. New York-founded (now Michigan-based) electric truck startup Bollinger Motors has been developing a very simple yet versatile electric truck platform for more than four years now. They first unveiled an all-electric Jeep-like truck, the… Continue reading Bollinger to unveil B2 electric pickup truck and B1 utility truck next month – Electrek