JCT600 has opened a new Mitsubishi Motors dealership on Sticker Lane in the city, following a six figure investment. The new dealership is expected to create 16 jobs. After extensive refurbishment, the new JCT600 Mitsubishi Bradford dealership features elements of the latest Mitsubishi Motors corporate design. It also has the capacity to display six new… Continue reading JCT600 opens newly refurbished Mitsubishi dealership
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New Faraday Future CEO co-founded Byton and led the BMW i8 program
Faraday Future announced last week that it hired Byton co-founder Carsten Breitfeld as its global CEO, replacing the company’s controversial founder, Jia Yueting.
Jia ran into conflict with investors after a separate e-commerce company he owned in China, LeEco, allegedly defaulted on debts and failed to return to China to pay them when the government ordered him to do so. LeEco also aimed to build electric cars.
Last year Faraday lined up a new investment from Hong Kong conglomerate Evergrande to set up a factory and build several prototypes in California, But when Evergrande wouldn't provide a next payment, it had to lay off much of its staff and shutter the factory. All of its founding executives except Jia left.
Since then, the company has been working to secure more investors to restart production. As a condition of their investment, most new investors have reportedly insisted on Jia’s departure.
Faraday Future FF91 prototype
In its latest announcement, Faraday Future says Jia is not leaving the company, but is stepping down as CEO to become Faraday’s Chief Product and User Officer, a role perhaps similar to that Bill Gates took on after stepping down as Microsoft’s CEO.
He will be replaced as global CEO by Breitfeld, a mechanical engineer credited with leading the development of the BMW i8 and who more recently served as co-founder, chairman, and CEO of Chinese electric carmaker Byton.
Under its new lead investor, Chinese gaming company The9, Faraday Future is contracted to develop a new cheaper electric vehicle for the Chinese market.
It will also resume work on the Faraday Future FF91, a model that is likely to be significantly more expensive than the Tesla Model X. The car is expected to be built at a former Pirelli tire factory in Hanford, California.
Ford credit rating downgraded to junk by Moody’s
Downgrade comes against backdrop of carmaker’s $11bn restructuring plan Go to Source
Media Showcases How Velodyne Providing Lidar Technology to Optimus Ride
September 6, 2019 Optimus Ride operates self-driving vehicles that provide passenger transportation at low speeds within defined, geofenced areas such as planned communities, campuses and self-driving zones in cities. In just-auto.com, Simon Warburton wrote an article on how Optimus Ride will use Velodyne Lidar sensors in its fleet of self-driving vehicles. The story quotes Optimus… Continue reading Media Showcases How Velodyne Providing Lidar Technology to Optimus Ride
Allison Transmission Acquires Walker Die Casting
INDIANAPOLIS–(BUSINESS WIRE)–Allison Transmission Holdings Inc. (NYSE: ALSN), the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, announced today that it has acquired the assets and certain liabilities of Walker Die Casting located in Lewisburg, Tennessee and C&R Tool and Engineering located in Muscle Shoals, Alabama. “We are delighted to announce the acquisitions of… Continue reading Allison Transmission Acquires Walker Die Casting
Hyundai Glovis car carrier listing off coast of U.S. state of Georgia
SEOUL (Reuters) – A South Korean cargo vessel carrying about 4,000 cars bound for the Middle East was listing heavily on Sunday off the coast of the southern U.S. state of Georgia, an official of operator Hyundai Glovis said. The U.S. Coast Guard said a pilot and 23 crew were aboard the Golden Ray when… Continue reading Hyundai Glovis car carrier listing off coast of U.S. state of Georgia
Renault boss Bolloré: “Electric car for 10,000 euros, there will be in five years”
REUTERS Renault boss Thierry Bolloré: “The prices for electric cars have to fall dramatically, that is a necessity” So far you have to spend at least around 20,000 euros for one electric car output. But RenaultCEO Thierry Bolloré expects that the Stromer will be available in the future for 10,000 euros. “We’re working on that,… Continue reading Renault boss Bolloré: “Electric car for 10,000 euros, there will be in five years”
BMW Design keeps its eye on the future with new appointments.
Munich. Domagoj Dukec, responsible for design across the BMW brand since spring 2019, has reshuffled his team. He will be assisted by a line-up of experienced designers with many years of expertise, who will also steer the BMW M and BMW i sub-brands under his leadership. “I’m very excited about the future focus of our… Continue reading BMW Design keeps its eye on the future with new appointments.
Daimler Trucks begins testing automated trucks on public roads
The deployment on public roads takes place after months of extensive testing and safety validation on a closed loop track. As part of the comprehensive safety process by Daimler Trucks and Torc Robotics, both test track and on-road validation play an integral role in establishing the essential building blocks for successfully advancing automated technology. Martin… Continue reading Daimler Trucks begins testing automated trucks on public roads
HackerOne Raises $36.4M in Series D Financing
HackerOne, a San Francisco, CA-based hacker-powered pentest and bug bounty platform, raised $36.4M in Series D financing. This brings the company’s total funding amount to over $110M to-date. Backers included existing investors Benchmark, New Enterprise Associates, Dragoneer Investment Group and EQT Ventures. Effective immediately, David Obrand, Partner at Valor Equity Partners, will join HackerOne’s Board… Continue reading HackerOne Raises $36.4M in Series D Financing