UPDATE 1-Daimler threatened with recall of over 600,000 diesel models -Spiegel

* KBA probes models including C-Class, G-Class – Spiegel * KBA has concrete suspicions over emissions – Spiegel * Report comes day after news of Mercedes Vito recall * Transport Minister, Daimler CEO to meet on Monday (Adds Daimler CEO meeting with transport minister) BERLIN, May 25 (Reuters) – Daimler faces a recall order for… Continue reading UPDATE 1-Daimler threatened with recall of over 600,000 diesel models -Spiegel

Daimler threatened with recall of over 600,000 diesel models: Spiegel

BERLIN (Reuters) – Daimler faces a recall order for more than 600,000 diesel-engine vehicles including C-Class and G-Class models because of suspected emissions manipulation, German magazine Der Spiegel reported on Friday. FILE PHOTO: The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke Germany’s KBA vehicle… Continue reading Daimler threatened with recall of over 600,000 diesel models: Spiegel

Apple’s Autonomous Car Plans Now Look Way Less Ambitious Than They Once Were

A new report has detailed Apple’s crumbling ambitions to build a futuristic car, which have resulted in little more than a partnership with Volkswagen to make autonomous shuttles for the Apple campus. The New York Times piece presents the news that Apple (aapl) had been working with Volkswagen (vlkay) (whose codename at Apple is apparently… Continue reading Apple’s Autonomous Car Plans Now Look Way Less Ambitious Than They Once Were

Daimler informs about current status of action by the KBA regarding the Mercedes-Benz Vito

Stuttgart. Germany’s Federal Motor Transport Authority (KBA) has officially notified Daimler AG that it must carry out a recall of its Vito van model with the 1.6-liter diesel Euro 6 engine. According to the KBA’s interpretation of the law, the specific programming of two functions of the vehicle’s engine control does not comply with the… Continue reading Daimler informs about current status of action by the KBA regarding the Mercedes-Benz Vito

Rivian Automotive Closes Financing Round of $200 Million

author: Eric Walz    Rivian Automotive, an automotive technology company developing electric SUVs and pickup trucks has secured $200 million of debt financing from Standard Chartered Bank, adding to the financing Rivian has already secured from other investors, including Sumitomo Corporation of Americas (SCOA). RJ Scaringe, Founder and Chief Executive Officer of Rivian, stated, “This latest… Continue reading Rivian Automotive Closes Financing Round of $200 Million

Car imports probe gives GM, Ford shares tiny lift

(Reuters) – Shares of General Motors (GM.N) and Ford (F.N) inched only marginally higher before the bell on Thursday after the Trump administration launched a national security probe into car imports which could lead to new tariffs on foreign competitors while also stirring trade tensions. Washington said on Wednesday it will open a so-called Section… Continue reading Car imports probe gives GM, Ford shares tiny lift

Apple, Spurned by Others, Signs Deal With Volkswagen for Driverless Cars

Two former Apple employees also recalled how their colleagues built a model of a sport-utility vehicle with four seats facing each other, which some employees tested by sitting inside, similar to a design Mercedes advertised in 2015. As recently as 2016, Apple planned to spend hundreds of millions of dollars to build research and development… Continue reading Apple, Spurned by Others, Signs Deal With Volkswagen for Driverless Cars

Flight of the Valkyries.

The serially loss-making Aston Martin Holdings Ltd. is purring again. At least, that’s the conclusion you might draw from the few financial figures the luxury carmaker hands out to journalists each quarter. Revenue jumped by half last year thanks to swish new models such as the DB11. The private-equity and Kuwaiti-owned company’s 87 million pounds ($116 million) of… Continue reading Flight of the Valkyries.

Car manufacturers penalized by rising steel prices

Peter laughing, John crying. If the spectacular rise in steel prices over the last two years (nearly 70%) is pleasing to the giants of the steel industry, it is not doing the car manufacturers’ business. Last year, the rise in material costs (and other external costs) weighed 358 million euros on the results of the… Continue reading Car manufacturers penalized by rising steel prices