NEW YORK/STOCKHOLM/BEIJING (Reuters) – The Chinese owner of Volvo Cars has hired three investment banks for an initial public offering (IPO) this year that could value the Swedish carmaker in a broad range of $16 billion to $30 billion, a person familiar with the matter said on Thursday. FILE PHOTO: The Volvo logo is seen… Continue reading UPDATE 2-Chinese owner eyes Volvo Cars IPO, picks banks – source
Tag: Tesla
Ford Chairman Bill Ford Jr Says ‘Fairly Large’ Changes in Store For the Automaker
Ford Motor Co shareholders should expect “fairly large” changes in the coming year, Executive Chairman Bill Ford Jr. told Reuters, building on the automaker’s moves to discontinue some North American models and boost electric vehicle investment. Ford has promised to cut costs overall but still faces questions about lagging performance in certain regions and calls… Continue reading Ford Chairman Bill Ford Jr Says ‘Fairly Large’ Changes in Store For the Automaker
Volvo Cars Picks Citi, Goldman, Morgan Stanley on IPO
Volvo Cars owner Zhejiang Geely Holding Group Co. has selected Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley to advise on an initial public offering for the Swedish carmaker this year, according to people with knowledge of the matter. China’s Zhejiang Geely and Volvo have discussed valuing the Swedish automaker in a range of… Continue reading Volvo Cars Picks Citi, Goldman, Morgan Stanley on IPO
GM sees custom designs, personal ownership for self-driving cars
(Reuters) – General Motors Co (GM.N), which plans a ride-sharing fleet of robotaxis for next year, is looking at further business opportunities for self-driving cars, such as custom designs that could be almost unrecognizable from those of today, a top executive said on Thursday. FILE PHOTO: GM’s planned Cruise AV driverless car features no steering… Continue reading GM sees custom designs, personal ownership for self-driving cars
China’s Geely said to pick Citi, others for Volvo Cars IPO
May 10, 2018 Volvo Cars owner Zhejiang Geely Holding Group Co. has selected Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley to advise on an initial public offering for the Swedish carmaker this year, according to people with knowledge of the matter. China’s Zhejiang Geely and Volvo have discussed valuing the Swedish automaker in… Continue reading China’s Geely said to pick Citi, others for Volvo Cars IPO
Audi invests heavily in 20 electrified cars by 2025
At its annual meeting Wednesday, Audi announced an ambitious plan to build 20 new electrified cars by 2025, most of them battery electrics,. The company says it will invest $47.6 billion (€40 billion) into these electrified cars, a new app platform for its cars, a new fleet of autonomous vehicles to be launched in 2021,… Continue reading Audi invests heavily in 20 electrified cars by 2025
Volvo Trucks introduces an EV just for hauling garbage
Volvo Trucks Volvo Trucks has joined the short list of automakers to introduce an EV bigger than a consumer car, but the Swedish company’s new vehicle is special: It’s a garbage truck. The Volvo FE Electric is built to haul up to 27 tonnes of cargo across urban environments, and like all electric vehicles, it… Continue reading Volvo Trucks introduces an EV just for hauling garbage
Mercedes shows off its EQC electric SUV prototype
Daimler Mercedes really, really wants you to know that its EQ electric cars will soon become a practical reality. The automaker has shown off heavily camouflaged prototypes of its EQC SUV with word that the production model is on track to launch in 2019. Test mules already endured “tough” winter conditions in northern Sweden between… Continue reading Mercedes shows off its EQC electric SUV prototype
Uber says its self-driving cars could return in ‘next few months’
Uber CEO Dara Khosrowshahi spoke briefly of what’s been going in the world of Uber’s self-driving cars in light of the fatal accident in Tempe, Arizona in March. At Uber Elevate today in Los Angeles, Khosrowshahi said Uber will bring back its self-driving cars “within the next few months, I don’t know.” To be fair,… Continue reading Uber says its self-driving cars could return in ‘next few months’
UPDATE 5-Ford says lost truck production will hit 2nd qtr earnings
DETROIT (Reuters) – Ford Motor Co (F.N) is working with a key supplier to shift some parts production from Michigan to Ontario, Canada, after a fire and subsequent parts shortages forced the automaker to halt manufacturing of its highly profitable full-size pickups, according to sources familiar with the companies’ plans. The Ford logo is seen… Continue reading UPDATE 5-Ford says lost truck production will hit 2nd qtr earnings