Tag: Financial Results

LiDAR startup Luminar hires former Fitbit and Apple execs

LiDAR company Luminar and its whiz founder Austin Russell burst onto the autonomous vehicle startup scene last April after operating for years in secrecy. Now, Luminar has nabbed two high-profile hires that signal its grander ambitions in the race to develop and deploy autonomous vehicles. Luminar announced Thursday it has hired Fitbit executive Bill Zerella as… Continue reading LiDAR startup Luminar hires former Fitbit and Apple execs

Geely: Higher tariffs will hurt Volvo Car customers globally

Li Shufu, chairman of Zhejiang Geely, which owns Volvo Car, said on Thursday higher tariffs on imported cars resulting from escalated trade tensions between the United States, Europe and China will ultimately hit end users of the high-end Swedish vehicles. Li, who is also chairman of Volvo Car, was speaking at a Belt and Road… Continue reading Geely: Higher tariffs will hurt Volvo Car customers globally

Carmakers’ June sales rise 9.9 pct as demand recovers

SEOUL, July 2 (Yonhap) — The combined sales of South Korea’s five carmakers rose 9.9 percent last month from a year earlier due to increased demand from major markets, corporate data showed Monday. The five automakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. —… Continue reading Carmakers’ June sales rise 9.9 pct as demand recovers

Self-glory is the beginning

J Now comes the usual reflex: The German national team is eliminated from the main tournament, and immediately eager parallels are drawn between football and politics, society, the economy. In fact, the debacle of Kazan coincides with an unprecedented government crisis. CDU and CSU threaten to break up. Other, inconspicuous things suddenly seem symbolic. The… Continue reading Self-glory is the beginning

Trading dispute and profit warnings weigh on exchanges

A worried about high tariffs and declining corporate profits, the stock markets went down on Monday. Of the Dax fell 2.5 percent to 12,270 points, the Eurostoxx50 lost two percent to 3369 points. In New York, the Dow Jones and the S & P 500 were each about one and a half percent lower at… Continue reading Trading dispute and profit warnings weigh on exchanges

Jaguar to invest $18B in EV technology

Kaye Wiggins, Bloomberg News Published 4:56 p.m. ET June 26, 2018 The new Jaguar I-Pace electric SUV is unveiled during the first press day of the Geneva International Motor Show in March in Geneva. (Photo: FABRICE COFFRINI / AFP/Getty Images) Jaguar Land Rover is raising investment by about a quarter over the next three years… Continue reading Jaguar to invest $18B in EV technology

PSA maps out Vauxhall’s path to profitability

Opel and Vauxhall have not posted a full-year profit this century, losing about £15 billion in the past 17 years. That represents a catastrophic failure by any measure, but it also highlights just how ambitious the recovery plan set out by new owner the PSA Group is. The strategy, called ‘Pace’, calls for (among other… Continue reading PSA maps out Vauxhall’s path to profitability

Daimler profit warning upsets car industry

D The Daimler share will suffer the consequences of the lowered forecasts on Thursday. The share price of the automotive group falls by about 2.5 percent. The Daimler papers last cost just over 58 euros. Previously, they had marked with 57.65 euros the lowest level since the summer of 2016. Among the negative news about… Continue reading Daimler profit warning upsets car industry