Friday Morning Auto News, Oct 11, 2019

Porsche and Boeing partner on electric flying vehicle – Automotive News: Porsche wants to expand into the “third dimension of travel” by developing a flying vehicle capable of transporting people in congested cities.
Renault CEO ouster marks fresh start from Ghosn era – Automotive News: It took just three days to topple Renault CEO Thierry Bollore, giving the automaker and its estranged partner, Nissan, a clean sheet to ponder how to revive trust in their alliance and redistribute the balance of power.
Renault board wields the CEO axe – the week – Just-Auto: News Renault has dismissed Thierry Bollore as CEO with immediate effect, ending a week of intense speculation concerning the future of the automaker’s top management, is likely to draw a lot of eyeballs to just-auto from about now.
Hydrogen is still a mystery to drivers, but Toyota plans 10 times more cars – LATimes: Hydrogen is still a mystery to drivers, but Toyota plans 10 times more cars Los Angeles Times
Lengthy UAW strike at GM to cost $1.5 billion: Credit Suisse – Reuters: Lengthy UAW strike at GM to cost $1.5 billion: Credit Suisse
Ford’s Q3 China vehicle sales down 30% – Automotive News: Third-quarter sales of the automaker’s mass-market Ford brand fell 38 percent in China, while its luxury division Lincoln saw sales drop by 24 percent.

Renault ousts CEO in post Ghosn-era reset – Reuters: Renault ousts CEO in post Ghosn-era reset Reuters Canada
They Say He Lost $320 Million on Bad Oil Trades. He Says Documents Show Otherwise – Bloomberg: The Chinese oil trader fired by Mitsubishi Corp. for allegedly losing $320 million in unauthorized trading said company documents that detail how the …
China’s Trade Chief Returns to Trump’s Oval Stage With Eyes on Deal – Bloomberg: Car warning | Nissan issued its starkest warning yet against a no-deal Brexit, saying any tariffs on auto exports to the European Union are likely to render its U.K. … Trade war fallout | Japan’s economy is losing momentum as 2020 … balance for September; Oct. 15: U.S. to raise tariffs on Chinese imports …
Business Is Thrilling Again. Enjoy the Spectacle, From a Distance. – New York Times: “Super Pumped,” the new book about Uber, the ride hailing giant, written by my colleague Mike Isaac, has become one of my favorites. He described …
Uber faces UK tax challenge – Reuters: Uber Technologies Inc says the UK is seeking to classify the company as a transportation provider, potentially opening it up to new tax charges that could weigh heavily on its business, according to UK accounts filings in recent days.
Nissan’s new CEO is no Ghosn, but that’s the point – Automotive News: Nissan’s new CEO is no Ghosn, but that’s the point
Uber launches boat service in Nigeria’s megacity Lagos – Reuters: Global ride-hailing firm Uber Technologies Inc [UBER.UL] on Friday launched a pilot test of a boat service in Nigeria’s commercial capital Lagos to attract commuters seeking to avoid the megacity’s notoriously congested roads.
SpaceX needs to put people into space. NASA’s deadline is looming – LATimes: Two weeks ago, the head of NASA seemed sick of waiting for SpaceX and Boeing Co. to finish developing the capsules that are supposed to carry …
Porsche and Boeing to develop flying car concept – Autocar: Porsche and Boeing have released this image of a flying car Two firms will explore the viabilit…
Future cars: Toyota doubles down, Dyson gives up – Reuters: Different visions of future mobility: Toyota doubles down on hydrogen fuel cell vehicles, but James Dyson pulls the plug on plans for an electric car.
Factbox: Renault’s new top executive committee – Reuters: Below are some facts on some of the new top executives appointed at Renault on Friday.
Hyundai invests in US road mapping company Netradyne – Just-Auto: Hyundai Cradle, which Hyundai Motor Group describes as its corporate venturing and open innovation business, in early October said it was investing in US fleet safety management software company Netradyne to gain access to the firm’s more than 350m miles of detailed road mapping data.
Hyundai, Kia earmark $760 million to settle U.S. lawsuits over engine fires – Reuters: Hyundai Motor Co and affiliate Kia Motors Corp have earmarked a total of 900 billion won ($757.86 million) to settle U.S. class action litigation and address engine-related issues in the United States and South Korea.
Geely’s September sales show a silver lining to some – Nikkei: Among Geely’s rivals, Guangzhou Automobile Group has reported a 3% fall in sales for the first eight months of 2019 while those for Dongfeng Motor …
Renault names Delbos as interim CEO to replace Bollore – Reuters: French carmaker Renault on Friday named Clotilde Delbos at interim chief executive after ending the tenure of Thierry Bollore following a boardroom vote.
Toyota LQ concept is self-driving electric hatchback – Autocar: Toyota LQ concept is self-driving electric hatchback
Hyundai Motor, Kia Motors agree to settle U.S. engine defect lawsuits – Reuters: South Korea’s Hyundai Motor Co and affiliate Kia Motors Corp on Friday said they have agreed to resolve class action litigation with U.S. owners of certain vehicles over engine fire risks.
Toyota RAV4 Plug-in hybrid set for LA show debut – Autocar: New version of fifth-generation SUV will offer expanded battery size, range and power Toyota will…

Related

Uber to acquire grocery delivery startup Cornershop

Uber will acquire Cornershop, a grocery delivery startup that began life serving the Latin American market and recently shifted to offer service in Toronto, its first North American city. Uber announced on Friday that it expects that its acquisition of a majority ownership stake in Cornershop in early 2020, once it receives all the necessary… Continue reading Uber to acquire grocery delivery startup Cornershop

Uber to Acquire Majority Ownership in Cornershop

SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced an agreement to acquire majority ownership of Cornershop, a leading online grocery provider in Chile, Mexico, and more recently in Peru and Toronto. The investment is expected to close in early 2020, subject to regulatory approval. “Whether it’s getting a ride, ordering food from your favorite… Continue reading Uber to Acquire Majority Ownership in Cornershop

UPDATE 1-Uber to buy Chile’s Cornershop in bid to deliver your groceries

SANTIAGO (Reuters) – Uber (UBER.N) said on Friday it would buy a majority stake in online grocery provider Cornershop as the ride-hailing giant moves to expand its fast-growing delivery service into the grocery store market. FILE PHOTO: A helicopter operated by Uber Copter, a new service by the ride-sharing company Uber, providing service from Manhattan… Continue reading UPDATE 1-Uber to buy Chile’s Cornershop in bid to deliver your groceries

California’s Power Outages Are About Wildfires—but Also Money

The red wind started to blow again this week—hot, dry gusts up to 75 miles per hour in some parts of Northern California. Usually, their arrival means wildfires are on the way, a recurring threat to life and property thanks to climate change and urban sprawl. This time was a little different, though. As the… Continue reading California’s Power Outages Are About Wildfires—but Also Money

Hong Kong Is the Latest Tripwire for Tech Firms in China

Over the past decade, China has embraced US sports and high-tech products like iPhones and Teslas, and US businesses granted access to China’s domestic market have benefited from a huge and increasingly wealthy set of consumers. For US tech companies, the ties often run deeper: They rely on China’s factories and supply chain and, increasingly,… Continue reading Hong Kong Is the Latest Tripwire for Tech Firms in China

The Queer Rights Movement Faces Down the Supreme Court

Earlier this week, under the wide steel-gray skies of Washington, DC, the streets encircling the US Supreme Court Building were animated by a rising tide of color and righteous fury. Protesters had gathered in a sea of doughy pink, electric blue, sunshine yellow, and iridescent tangerine, thousands waving signs that exclaimed “We the People Means… Continue reading The Queer Rights Movement Faces Down the Supreme Court

Why venture capital firms need culture experts

When Susan Fowler’s 2017 blog post shined a light on Uber’s raucous culture, outlining rampant harassment and sexism, a debate erupted. What role do the deep-pocketed investors behind the company, those who allowed it to scale to monstrous proportions, have in developing and nurturing its culture? Entrepreneurs and venture capitalists themselves wondered aloud, how involved… Continue reading Why venture capital firms need culture experts

Porsche and Boeing are partnering to develop ‘premium’ electric flying cars

The electric vertical take-off and landing (eVTOL) industry is heating up, with a lot of companies finding dance partners for what looks like could be a boom industry — provided the significant technical and regulatory hurdles still standing in the way of viable commercial consumer air travel are overcome. Now, automaker Porsche is throwing its… Continue reading Porsche and Boeing are partnering to develop ‘premium’ electric flying cars

Sources: Lilium is looking to raise up to $500M for its electric flying taxis

“Flying cars” — airborne vehicles designed for urban and other short-distance commutes to replace conventional private automobiles — are (at best) still years away from being a reality, with significant safety, technology and business model hurdles to clear before they ever hit the sky. Now, sources tell us that one of more promising startups in… Continue reading Sources: Lilium is looking to raise up to $500M for its electric flying taxis