Didi – Page 47 – I wish I had more to offer

Didi Chuxing’s autonomous driving unit is now an independent company

Didi Chuxing’s autonomous driving unit is now an independent company, the Chinese ride-sharing and transportation giant said today. Didi’s autonomous driving team was created in 2016 and now has more than 200 employees in China and the United States. Didi’s announcement comes about a month after The Information reported that Didi was in talks with… Continue reading Didi Chuxing’s autonomous driving unit is now an independent company

BP and Didi Chuxing to develop a network of EV charging hubs across China through new joint venture

LONDON, 2-Aug-2019 — /EuropaWire/ — BP have agreed to form a new joint venture to build electric vehicle (EV) charging infrastructure in China with Didi Chuxing, the world’s largest market for electric vehicles. Both companies plans to develop a network of EV charging hubs across China.

Didi is the world leader in multi-modal transportation platform. The company offers full range of app-based options, including ride-hailing, automobile solutions sharing, and other services. Currently, DiDi provides ride-hailing services in Brazil under the 99 brand, operates DiDi-branded mobility services in Mexico, Chile, Colombia and Australia, and provides taxi-hailing service in Japan through a joint venture. Approximately 550 million users and around 600,000 EVs are running on its platform in China. DiDi is committed to solve the world’s transportation, environmental and employment challenges with smart transportation innovations.

BP operates its fuels retailing and convenience business in 18 countries globally. BP has over 18,700 retail sites and with rapidly-growing presence in China.

The joint venture will provide EV charging services to DiDi’s drivers and the public with the development of standalone, high-quality and reliable charging hubs. The partners also plans to expand the partnership into loyalty and convenience offerings and other fleet services in the near future.

“As the world’s largest EV market, China offers extraordinary opportunities to develop innovative new businesses at scale and we see this as the perfect partnership for such a fast-evolving environment. The lessons we learn here will help us further expand BP’s advanced mobility business worldwide, helping drive the energy transition and develop solutions for a low carbon world.”

“Combining BP’s global retail capability, EV charging expertise and experience with DiDi’s unrivalled mobility service platform, our partnership will aggregate demand and provide high-quality, fast, reliable and safe charging for DiDi drivers and the public in China. DiDi is already converting to electric vehicles and has a very large user base, so we expect to drive high utilisation of charging assets from Day One,” commented Tufan Erginbilgic, BP’s Downstream chief executive.

“We look forward to combining our strengths to create a robust EV charging network for China, promote the growth of the new energy automotive industry, and provide better experience for car owners across the country,” commented Cheng Wei, Chairman and CEO of DiDi.

The venture aims to expand rapidly, with an ambition to quickly become the leading EV charging provider in China. The companies already opened a pilot site in Guangzhou in the Guangdong province that has ten fast-charging units, ranging from 60-120kW. The site will join the joint venture once live.

China has around 50% of the world’s battery electric vehicles today, it is the world’s largest and fastest-developing EV market. Around 80% of EV charging in China is expected to be done at destination, forecourt and fleet hub charge points by 2030.

BP started the roll out of ultra-fast chargers at sites in the UK following the acquisition in 2018 of BP Chargemaster, the UK’s leading electric vehicle charging company. The company also invested in StoreDot, an innovative fast-charging battery technology firm. BP is committed to be the leader in providing fuel for both conventional and electric vehicles in its businesses worldwide.

In January 2019, BP invested in leading integrated hardware and software solutions provider for electric vehicle (EV) charging in China, PowerShare. PowerShare offers an online platform connecting EV drivers, charge point operators and power suppliers. In July 2018, BP invested $10 million in the NIO Capital US Dollar Fund to support the fund’s work exploring opportunities in China’s new energy vehicle ecosystem.

“China offers tremendous growth opportunities for BP. Partnering with DiDi enables BP to actively contribute to China’s fast-growing EV charging market with differentiated offers, and also to further expand our business footprint in the country,” said Xiaoping Yang, BP China chairman and president.

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For press information:

BP press office, China: +86 (0)10 6589 3878, bpchinapress@bp.com
BP press office, London: +44 (0)20 7496 4076, bppress@bp.com

SOURCE: BP p.l.c.

MORE ON ELECTRIC VEHICLES, EV CHARGING HUBS, ETC.:
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Jaguar Land Rover looks to forge “strategic, tactical partnerships” to be future-ready

Luxury car and SUV manufacturer Jaguar Land Rover, which has weighed heavy on owner Tata Motors’ Q1 FY2020 numbers, is making moves to better its performance. As it advances on a major cost-cutting drive, it also recognises the need to be future-ready. Towards that objective, the Tata Motors-owned company is looking at striking new partnerships even as it faces some major headwinds.

Speaking at Tata Motors’ annual general meeting in Mumbai today, chairman N Chandrasekaran said: “The only way to handle this need for capex is additional investment through partnerships, because we want to spread the investment. There are many discussions underway from tactical to strategic.”
This could mean the company could forge new connections with established automotive players globally or even with start-ups. Something similar to what global automakers like Daimler and the BMW Group are doing.

Addressing shareholders, Chandrasekaran also said that Jaguar Land Rover witnessed growth in China during July 2019, for the first time in a year. The market slowdown in China meant a sizeable drop in JLR’s volumes, between 40-50 percent. “But I'm hopeful because for the first time in 12 months, we are seeing a positive volume growth in China in July. Last month it recovered and this month it looks good. But we need to wait for a couple of more months to see whether there's a trend,” said Chandrasekharan.

Brexit impacting JLR's supply chain
Another issue impacting the luxury carmaker's future growth is Brexit. The danger and impact felt by automakers in Britain in leaving the European Union without a trade deal in place will be much more of Jaguar Land Rover than any other company.

“The real concern is if Brexit were to happen with a deal or no deal, what will be the impact on our supply chain? Jaguar imports millions of components from other parts of the world, particularly Europe into UK. In the situation of Brexit, there's a possibility of a supply chain breakdown which essentially means production cannot happen, inventories are to be maintained and some of the losses that we are seeing is also because we have to calibrate the supply chain,” said Chandrasekaran.

“Like any other auto company, JLR has to invest in future technologies to address the move away from ICE to hybrid and electric. It also has to invest in future models, make necessary investments in areas like shared mobility, and also beyond that. That's very important to stay alive in this ecosystem. All this means is there is a need for capital investment if you want to be future-ready.”

“During the past 12-18 months, we have cut down capex from around £4.5 billion (Rs 34,483 crore) to £3.98 billion (Rs 30,499 crore) last year. We are working towards cutting down further but we can't take a very drastic cut. These opportunities keep coming and we keep evaluating every one of these opportunities and as long as it is in the interest of Tata Motors, we will forge such partnerships so that we are able to address the capex,” said Chandrasekaran.

It may be recollected that Jaguar Land Rover’s CEO, Ralf Speth, has repeatedly warned of the damage a No-Deal Brexit could cause if cars made in the UK but exported to Europe carry a tariff, or if parts required to build cars in the UK are required to undergo border checks. He has estimated the potential cost to the firm to be up to £60m (Rs 510 crore) per day.

Also read: Toyota commits $600m in new JV with China's DiDi

Daimler sees investment by long-term ally BAIC Group

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Hyundai and Rimac upbeat on electric sports car and high-performance FCEV plan

Proposed FCA, Renault merger will create world's third largest OEM

Mahindra and Ford to jointly develop midsize SUV for India and emerging markets

SoftBank pumps $2B into Indonesia through Grab investment, putting it head to head with Gojek

Grab — the on-demand transportation app worth $14 billion that is the Uber of Southeast Asia — today announced how it would be using some of the $7 billion or so that it has raised to date: $2 billion provided by SoftBank is being earmarked Grab’s operations in Indonesia — the biggest economy in Southeast… Continue reading SoftBank pumps $2B into Indonesia through Grab investment, putting it head to head with Gojek

Toyota Invests $600m in DiDi Chuxing

[from left to right] Stephen Zhu, Senior Vice President of Didi Chuxing; Shigeki Tomoyama, Executive Vice President of Toyota Motor Corporation Toyota Motor Corporation and Didi Chuxing have expanded their collaboration in Mobility as a Service (MaaS) in China. As part of this deal, Toyota will invest $600m (approximately 66 billion yen) in DiDi and… Continue reading Toyota Invests $600m in DiDi Chuxing

DiDi, Toyota to set up JV for smart fleet management

BEIJING, July 25 (Xinhua) — Chinese mobile transportation platform Didi Chuxing has teamed up with Japanese carmaker Toyota to expand their partnership in smart transportation.
Toyota will invest 600 million U.S. dollars in DiDi and a joint venture which the two companies will establish with GAC Toyota Motor Co. Ltd. to provide vehicle-related services for ride-hailing drivers on DiDi's network, DiDi announced Thursday.
The two parties announced collaboration on the e-Palette, a self-driving modular store in January 2018, and have piloted vehicle-related services for DiDi ride-hailing drivers.
“We look forward to combining DiDi's expertise in AI-based large-scale mobility operations and Toyota's leading connected vehicle technology to build a next-generation intelligent transportation framework for sustainable cities,” said DiDi's Senior Vice President Stephen Zhu.
DiDi initiated a cross-sector alliance last year with top carmakers and industry players at home and ..

Thursday Morning Auto News, Jul 25, 2019

‘Not a lot to like’ – Analysts pan Tesla as the shares are slammed on poor results – CNBC: “We continue to believe Tesla is fundamentally overvalued but strategically undervalued,” Morgan Stanley said. “Overall, we doubt this quarter will …
Tesla Tech Chief’s Exit Is Latest High-Profile Departure – Wall Street Journal: In January, Tesla surprised investors when it announced during another earnings … Mr. Straubel outlasted Martin Eberhard, another founder of Tesla.
Tata Motors posts wider quarterly loss on weak JLR sales – Nikkei:
Diesel Chevy Silverado 1500 pickup blows past Ford F-150, Ram in mpg – Freep: “Any consumer looking for a fuel-efficient, powerful option can find one in the diesel option of America’s favorite vehicle, the pickup truck,” Diesel …
Eight Months After Ghosn’s Exit, Nissan Remains Stuck in a Rut – Bloomberg: A weaker Nissan means less clout for the carmaker in its alliance with … Saddled by aging car models such as the Juke and Murano, Nissan sold 6% …

Four automakers, California strike compromise on vehicle emissions – Reuters: Ford Motor Co, BMW AG, Volkswagen AG (VOWG_p.DE) and Honda Motor Co said on Thursday they have reached a …
Stocks making the biggest moves premarket: 3M, Comcast, Raytheon, Southwest, Tesla & more – CNBC: Names on the move ahead of the open.
Jaguar Land Rover posts £395 million loss due to falling sales – Autocar: Jaguar Land Rover recorded a £395 million loss in the last three months, due to declining sales and the impact of a planned Brexit shutdown – but …
VW Q2 operating profit rises 30% as utility vehicle push pays off – Automotive News: VW expects vehicle deliveries in 2019 to exceed last year’s figure and for revenues in the passenger cars and commercial vehicles divisions to grow at least 5 percent.
ABB cautions on China as robotics sales flag – Reuters: ABB Ltd (ABBN. … Demand for cars in Europe is 3.1% down in the year to date while Mercedes maker Daimler this week also …
DiDi, Toyota to set up JV for smart fleet management – Xinhuanet: The two parties announced collaboration on the e-Palette, a self-driving modular store in January 2018, and have piloted vehicle-related services for …
Tata Motors first-quarter loss nearly doubles – Reuters: Tata Motors Ltd reported a bigger quarterly loss on Thursday, as a slump in demand for cars continued at home, while plant shutdowns and delays resulting from issues arising due to Britain’s planned exit from the European Union also hurt earnings.
Earnings tumble at automakers, but VW defies the gloom – Reuters: More evidence has emerged of tough times for the auto sector following weak numbers at Ford, Nissan and Tesla. But Volkswagen is defying the …
Alphabet’s Sales Under Microscope After Last Quarter’s Debacle – Bloomberg: … year and updates on progress in hardware and Other Bets, which includes its self-driving car unit Waymo, according to UBS analyst Eric Sheridan.
The Little Hybrid That Could, and Still Can – New York Times: When Honda introduced the first hybrid vehicle in America, the 2000 Insight, there was technological wonder, but few would call …
Aston Martin Bear Says It Needs to Raise a Billion Pounds to Catch Up With Ferrari – Bloomberg: The only analyst with a sell rating on Aston Martin Lagonda shares says the luxury carmaker will need to raise at least a billion pounds ($1.25 billion) in *fresh* …
Aston Martin fails to sell Vanquish’s tooling, design drawings – Automotive News: Aston Martin has written off 19 million pounds ($24 million) after the sale of the tooling and design drawings of the automaker’s Vanquish …
China exports gasoline to Mexico, Nigeria amid overflowing output – Reuters: … confidence as the trade war continues, reflected also in slumping car sales, said … Gasoline demand growth is also sliding as Chinese automobile sales, … (GRAPHIC: China’s auto sales in 12 months decline – tmsnrt.rs/2MlLS4b).
India’s auto parts makers warn of 1 million job cuts if slowdown continues – Reuters: India’s auto parts industry could be forced to slash a fifth of its 5 million or so workforce if the slowdown in vehicle sales …
Nissan will cut 12500 jobs as Q1 profit nearly wiped out – Automotive News: Nissan said it is axing 12,500 jobs after reporting its quarterly profit was nearly wiped out, hurt by an aging product lineup and a slide in …
Volkswagen to boost SUV sales to 40% of total by 2020 – Reuters: Volkswagen expects the proportion of sports utility vehicle sales to rise to 40% by 2020, from 25% last year, Chief Financial Officer Frank Witter said on …
Nissan to cut 12,500 jobs, more than double initial plan – Nikkei:
Nissan Earnings Sees 99% Profit Plunge – Bloomberg: Nissan reports a 99% plunge in first-fiscal quarter operating profit. Bloomberg’s Dani Burger reports on “Bloomberg Markets: European Open.” (Source: …
Nissan to Cut 12500 Jobs as It Struggles After Ghosn’s Arrest – Wall Street Journal: Nissan Chief Executive Hiroto Saikawa is cutting costs as he seeks to … On Thursday, Nissan said it planned to cut global production capacity by 10% …
Nissan to cut 12,500 jobs as first-quarter profit nearly wiped out – Reuters: Nissan Motor Co said on Thursday it would slash 12,500 jobs globally by 2022 and cut output to rein in costs as it suffers from sluggish sales and rising costs and tries to recover from a scandal surrounding ousted Chairman Carlos Ghosn.
Volkswagen Has ‘Strong Foundation,’ CFO Says – Bloomberg: Volkswagen AG Chief Financial Officer Frank Witter talks about the automaker’s financial results and business outlook. Volkswagen’s second-quarter operating …
Toyota Invests $600 Million in Chinese Ride-Hailing Giant Didi – Bloomberg: Their partnership builds on an alliance Didi started last year with a coterie of carmakers including China FAW Group, Dongfeng Motor Group and …
Nissan’s Ignoring the Rot at Home – Washington Post: If you’re looking for a metaphor for how politics has swamped decision-making at Nissan Motor Co., look no further than reported plans to restructure …
Volkswagen first-half operating profit up 10% on higher Volkswagen, Porsche sales – Reuters: Volkswagen Group (VOWG_p.DE) on Thursday said its first half operating profit rose 10.3% to 9 billion euros ($10.02 billion), …
Toyota says to invest $600 million in China’s Didi, new joint venture – Reuters: Toyota Motor Corp said on Thursday it will invest $600 million ( £481 million ) in Didi Chuxing and a new joint venture, as part of an agreement to expand …
As Tesla losses continue, Musk points to global growth – Automotive News: Tesla CEO Elon Musk, after reporting a surprisingly large loss in the second quarter, pointed toward an eventual, if delayed, return to profitability and …
Tesla Breaks Records But Doesn’t Break Even – Bloomberg: Just before the Q&A portion of Wednesday evening’s second-quarter call, CEO Elon Musk announced that JB Straubel, the company’s veteran chief …
SpaceX stops test of Starship prototype rocket during surprise livestream – CNBC: SpaceX was attempting to fly its “Starship” prototype rocket in its first short flight of more than a few feet off the ground on Wednesday.
Space jam? Companies risk clutter, conflict in race for the skies – Reuters: Aerospace companies such as Musk’s SpaceX and Bezos’ Blue Origin are aiming to become the first private firm to launch a human into space.

A new competitor in the ride-hailing market has emerged to challenge the pole position held by long-time player Didi Chuxing – T3 Chuxing. T3 Chuxing was unveiled by its operator Nanjing Lingxing Technology Company Limited in Nanjing on Monday, according to a statement by the startup. Its mobile app went online on July 17 and… Continue reading Alibaba, Tencent-backed ride-hailing app T3 Chuxing goes live in China

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