Terms of Service Violation Your usage has been flagged as a violation of our terms of service. For inquiries related to this message please contact support. For sales inquiries, please visit http://www.bloomberg.com/professional/request-demo If you believe this to be in error, please confirm below that you are not a robot by clicking “I’m not a robot”… Continue reading Daimler Shelves Iran Expansion Plan on US Trade Sanctions
Tag: Daimler
Daimler Plans Sweeping Overhaul as New Tech Upends Auto Business
Terms of Service Violation Your usage has been flagged as a violation of our terms of service. For inquiries related to this message please contact support. For sales inquiries, please visit http://www.bloomberg.com/professional/request-demo If you believe this to be in error, please confirm below that you are not a robot by clicking “I’m not a robot”… Continue reading Daimler Plans Sweeping Overhaul as New Tech Upends Auto Business
Coup of cold stock on the automobile
Black day for Continental. The German equipment maker fell Wednesday about 14% on the Frankfurt Stock Exchange, its largest decline since 2009, causing in its fall the European automotive values. At the Paris Bourse, Michelin, Valeo, Faurecia or Peugeot also gave ground – but to a lesser extent -, just like Pirellli in Milan or… Continue reading Coup of cold stock on the automobile
Interview: “It’s not too late yet” – VW boss Diess warns of dependency in the battery cell technology
WolfsburgVolkswagen-Boss Herbert Diess In particular, the auto industry in general and its own company are harshly challenged and face tremendous challenges. It must now necessarily the entry into the electric age success. As a heavy mortgage, he feels the “great dependence” in battery cell technology from Asian suppliers. This said in the Handelsblatt interview: “Let’s… Continue reading Interview: “It’s not too late yet” – VW boss Diess warns of dependency in the battery cell technology
Getaround car-share service raises $300 million in new funding round
Source: Jill Silvestri
Getaround, the car-share company that lets drivers rent their vehicles to strangers, is gearing up for more growth fueled by a new round of funding.
The San Francisco company has raised $300 million in Series D funding led by the SoftBank Vision Fund. Toyota and company insiders also provided money in the latest financing round. Getaround has raised $400 million in total capital so far.
“We are confident in our product, playbook, and team,” Sam Zaid, Getaround founder and CEO said in a statement. “We look forward to leading the growth of next-generation carsharing.”
Since starting in 2010, Getaround has steadily grown its car-share network to include several thousand vehicles in 66 U.S. cities. In the last year, Getaround has seen a sevenfold Increase in booked hours.
For SoftBank, the investment comes just months after the Japanese company agreed to buy a 20 percent stake in GM's autonomous vehicle subsidiary Cruise Holdings for $2.25 billion. SoftBank also has invested $9.3 billion in Uber, becoming the ride-hailing company's largest investor.
“SoftBank sees carsharing as an accelerating trend that will disrupt car ownership”, said Michael Ronen, managing partner of SoftBank Investment Advisers.
Car-sharing, which allows members to rent a vehicle for a few hours or several days, has been around for more than 15 years. Zipcar may be the best-known car-share company with more than 12,000 vehicles available for rent. In recent years the industry has picked up momentum with Daimler subsidiary Car2Go and GM subsidiary Maven both steadily growing their networks.
Questions? Comments? BehindTheWheel@cnbc.com.
Toyota, Renault, VW: Japanese and French depend on German carmakers in terms of efficiency
Toyota production in Miyawaka In terms of operating profit, Japanese carmakers are even leaving Daimler behind. (Photo: AP) DüsseldorfThe world in Wolfsburg could actually be okay. With 5.5 million vehicles sold was VW also in the first half of the year the largest automaker in the world. Even the profit was lush with 8.16 billion… Continue reading Toyota, Renault, VW: Japanese and French depend on German carmakers in terms of efficiency
New Wiesmann sports car coming in 2019
Follow Viknesh Wiesmann GT MF5 After ceasing operations in 2014 due to insolvency, Germany’s Wiessman and its collection of retro sports cars was brought back to life a year later by a couple of Indian investors based in the United Kingdom. They brought on Mercedes-Benz veteran Mario Spitzner to run the revived company, which is… Continue reading New Wiesmann sports car coming in 2019
From a valuation of $1.8 to $30 billion in just eight years – Volvo Cars’ IPO plan looks like a spectacular success story …
The IPO plans for Volvo Cars are moving ahead as the valuation indicated by investors reaches Zhejiang Geely’s target level, according to the Financial Times. In July, Bloomberg reported that Geely was planning a stock-market listing of Volvo Cars as early as fall 2018, but initial feedback from institutional investors fell short of the Chinese… Continue reading From a valuation of $1.8 to $30 billion in just eight years – Volvo Cars’ IPO plan looks like a spectacular success story …
Cox Automotive forms new business division after acquiring tech platform
By Eric Mandel – Digital Producer , Atlanta Business Chronicle Aug 13, 2018, 11:11am EDT Cox Enterprises Inc. is speeding into another venture, with the formation of a new business division inside its automotive subsidiary. The Atlanta-based company said Monday that Cox Automotive is leveraging its recent acquisition of Clutch Technologies to create Mobility Solutions Group,… Continue reading Cox Automotive forms new business division after acquiring tech platform
Exclusive: In Chinese port city, Japan’s Toyota lays foundation to ramp up sales
BEIJING (Reuters) – Toyota Motor Corp is likely to make 120,000 more cars a year in the Chinese port city of Tianjin as part of a medium-term strategy that’s gathering pace as China-Japan ties improve, said four company insiders with knowledge of the matter. FILE PHOTO: An employee walks past as he checks on newly-produced… Continue reading Exclusive: In Chinese port city, Japan’s Toyota lays foundation to ramp up sales