Tag: Volvo

ALYI – Alternet Announces Partial Prefunding in Conjunction With $25 Million Investment Deal

DALLAS, July 1, 2020 /PRNewswire/ — Alternet Systems, Inc. (USOTC: ALYI) today announced the company will receive up to $2.5 million in advance of a $25 million first tranche investment agreement currently committed under a letter of intent (LOI).  ALYI yesterday announced executing a letter of intent (LOI) for a $25 million first tranche investment… Continue reading ALYI – Alternet Announces Partial Prefunding in Conjunction With $25 Million Investment Deal

Geely’s Volvo announces its biggest ever recall over seat belt cable

FILE PHOTO: The Volvo logo is seen on a new XC60 model in a showroom near the Volvo Car Corporation Headquarters in Gothenburg May 20, 2010. REUTERS/Bob Strong STOCKHOLM (Reuters) – Volvo Cars said on Wednesday it was recalling nearly 2.2 million cars built between 2006 and 2019 to address a potential issue with cables… Continue reading Geely’s Volvo announces its biggest ever recall over seat belt cable

@Daimler: Daimler Truck AG is working intensively to prepare series production of fuel cells

Experts at the Stuttgart site are developing new, state-of-the-art production facilities as the technological template for subsequent series production. Martin Daum, Chairman of the Board of Management of Daimler Truck AG and Member of the Board of Management of Daimler AG: “We are pursuing the vision of the CO2-neutral transportation of the future. The hydrogen-based… Continue reading @Daimler: Daimler Truck AG is working intensively to prepare series production of fuel cells

China’s Geely to take over debt-laden automaker Lifan as virus stokes shake-up – sources – Reuters UK

HONG KONG/BEIJING (Reuters) – Volvo owner Geely is set to take over an automaker battered by a prolonged sales decline exacerbated by the impact of the novel coronavirus, said three people with knowledge of the matter, in an indication of how the pandemic is stoking consolidation. FILE PHOTO: A building of the Geely Auto Research… Continue reading China’s Geely to take over debt-laden automaker Lifan as virus stokes shake-up – sources – Reuters UK

Inside the industry: car makers and retailers have a love-hate relationship

There’s a saying that business without tension isn’t really business, the implication being that if you’re not fighting someone, capitalism is about to gobble you up for being too nice. Just as well, then, that, even by the standards of the most dysfunctional families, the relationship between car makers and car retailers remains fraught –… Continue reading Inside the industry: car makers and retailers have a love-hate relationship

Didi installs V2X equipment in Shanghai, begins test robotaxi service

BEIJING (Reuters) – Chinese ride-hailing giant Didi Chuxing, backed by SoftBank Group, launched a test robotaxi service in a Shanghai suburb on Saturday after installing V2X (Vehicle to Everything) hardware throughout the area. FILE PHOTO: The company logo of the Didi ride-hailing app on a car door at the IEEV New Energy Vehicles Exhibition in… Continue reading Didi installs V2X equipment in Shanghai, begins test robotaxi service

Press Releases – EU car sales forecast 2020: Record drop of 25% expected this year, says ACEA

Brussels, 23 June 2020 – In the light of the major economic crisis facing the auto industry due to COVID-19, the European Automobile Manufacturers’ Association (ACEA) has radically revised its 2020 forecast for passenger car registrations down to about -25%. This effectively means that the industry association expects car sales in the European Union to… Continue reading Press Releases – EU car sales forecast 2020: Record drop of 25% expected this year, says ACEA