German authorities have raided BMW’s Munich headquarters and its engine plant in Austria to search for evidence of the use of emissions cheat software. A month after the opening of an investigation into the suspected fraud, around 100 law enforcers have raided two of the manufacturer’s largest locations – 4500 employees at the engine plant… Continue reading BMW headquarters raided in emissions cheat software hunt
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Quandt heirs receive a billion euro dividend
The billion-euro profit of BMW also pays off for the major shareholders Stefan Quandt and Susanne Klatten. The siblings get a generous payout. The workforce also benefits. Susanne Klatten, Stefan Quandt Wednesday, 21.03.2018 14:27 The siblings Stefan Quandt and Susanne Klatten received from BMW shortly 1.1 billion euros in the account. Background: The car company… Continue reading Quandt heirs receive a billion euro dividend
German prosecutors register BMW headquarters on suspicion of handling emissions
Posted 3/3/2018 6:24:58 PM MUNICH (GERMANY), Mar. 20 (Reuters / EP) – German prosecutors have registered on Tuesday BMW headquarters in Munich on suspicion that the car firm used an “illegal” software capable of manipulating the levels of emissions of their vehicles. Nearly 100 policemen and law enforcement agents recorded the German manufacturer’s facilities in… Continue reading German prosecutors register BMW headquarters on suspicion of handling emissions
UPDATE 1-BMW searched by German police in emissions swoop
FRANKFURT/MUNICH (Reuters) – BMW’s headquarters were raided on Tuesday by German prosecutors investigating the suspected use of illegal emissions control software capable of manipulating exhaust levels. A car with the BMW logo badge is seen on display at the North American International Auto Show in Detroit, Michigan, U.S., January 16, 2018. REUTERS/Jonathan Ernst About 100… Continue reading UPDATE 1-BMW searched by German police in emissions swoop
Uber said to be negotiating sale of self-driving tech to Toyota
Uber might begin selling its autonomous driving systems to outside companies, including major automakers, according to a new report from Japan’s Nikkei. The report claims that Uber has had talks with Toyota regarding supplying the automaker with self-driving tech, and that the two are currently in negotiations around how this would work, with talk of… Continue reading Uber said to be negotiating sale of self-driving tech to Toyota
Top Automotive Industry News for Week of March 12 – March 18, 2017
Here is the most important news associated with the automotive industry identified by the SEA for the week March 12, 2018 – March 18, 2018. We hope it helps you stay up to speed on the key developments in our industry: -AEA Membership News- The 2018 NADA AEA Member Reception is coming soon! The next… Continue reading Top Automotive Industry News for Week of March 12 – March 18, 2017
Lyft is testing a Netflix-style monthly subscription plan
Lyft is testing monthly subscription plans for high-frequency users, a sign that the company is shifting toward a Netflix or Spotify model for transportation. The terms of the subscription models seem to vary, but appear targeted at users who spend up to $450 on ride-hailing a month. One all-access pass offered up to 30 standard… Continue reading Lyft is testing a Netflix-style monthly subscription plan
Lyft Partners with Magna to Scale Self-Driving Technology
Today, we’re excited to announce a first-of-its-kind partnership with Magna, the largest North American Tier 1 automotive technology and manufacturing supplier, to jointly fund, develop, and manufacture our self-driving system. In addition to co-funding the partnership, Magna will also invest $200 million in Lyft. This partnership enables our Level 5 team to accelerate the introduction… Continue reading Lyft Partners with Magna to Scale Self-Driving Technology
Press Release – Magna and Lyft Announce a Multi-Year Partnership to Develop and Manufacture Self-Driving Systems at Scale
Please click HERE for a PDF version of the release. Magna and Lyft will fund and develop self-driving systems Co-developed self-driving systems can be deployed on the Lyft network as well as for the entire automotive industry The partnership will benefit from data generated by the 5+ billion miles traveled per year on the Lyft… Continue reading Press Release – Magna and Lyft Announce a Multi-Year Partnership to Develop and Manufacture Self-Driving Systems at Scale
Auto parts maker Magna invests $200 million in Lyft
(Reuters) – Canadian automotive parts supplier Magna International Inc said on Wednesday it will invest $200 million in Lyft Inc and work with the U.S. ride-hailing firm to manufacture self-driving cars. FILE PHOTO – An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren The news… Continue reading Auto parts maker Magna invests $200 million in Lyft