Technology group enters into an additional €1.35 billion credit facility Total amount increased as a result of positive response throughout syndication process Financial covenants adjusted due to high market volatility Friedrichshafen, Germany. ZF Friedrichshafen AG has increased its financial headroom with a new €1.35 billion syndicated credit facility. The facility strengthens the company’s liquidity and… Continue reading Press: ZF secures additional liquidity
Tag: Mobility
Autonomous aviation startup Xwing raises $10M to scale its software for pilotless flights
Autonomous aviation startup Xwing locked in a $10 million funding round before COVID-19 hit. Now the San Francisco-based startup is using the capital to hire talent and scale the development of its software stack as it aims for commercial operations later this year — pending FAA approvals. The company announced Wednesday its Series A funding… Continue reading Autonomous aviation startup Xwing raises $10M to scale its software for pilotless flights
CORRECTED-At Fiat Chrysler’s Brazil plant, production resumes with safety checks
BETIM, Brazil (Reuters) – Before going to work these days, employees at the Brazilian unit of Fiat Chrysler Automobiles (FCHA.MI) have to get a health check using a mobile app every morning. Fiat Chrysler Automobiles assembly workers build a 2020 Argo, amid the spread of the coronavirus disease (COVID-19), at the Assembly Plant in Betim… Continue reading CORRECTED-At Fiat Chrysler’s Brazil plant, production resumes with safety checks
GM working on semi-autonomous Ultra Cruise to operate on all roads
General Motors Co. is working on a comprehensive Tesla-fighting Ultra Cruise semi-autonomous system for its passenger cars. And its fully autonomous Cruise Origin vehicle may moonlight delivering packages in addition to delivering people to their destinations. The revelations came from global product development chief Doug Parks, as he promised that GM’s vision for self-driving transportation is on track during the COVID crisis. GM’s Super… Continue reading GM working on semi-autonomous Ultra Cruise to operate on all roads
At Fiat Chrysler’s Brazil plant, production resumes with safety checks
BETIM, Brazil (Reuters) – Before going to work these days, employees at the Brazilian unit of Fiat Chrysler Automobiles (FCHA.MI) have to get a health check using a mobile app every morning. Fiat Chrysler Automobiles assembly workers build a 2020 Argo, amid the spread of the coronavirus disease (COVID-19), at the Assembly Plant in Betim… Continue reading At Fiat Chrysler’s Brazil plant, production resumes with safety checks
Ola cuts 1,400 jobs as revenue drops by 95%
Ola’s decision follows Grab and Uber’s downsizing measures as the ride-hailing sector fights to weather the crisis. Go to Source
LEAKED: Europe’s draft ‘green recovery’ plan
The European Commission’s promised green recovery plan will focus on building renovation, renewables and hydrogen as well as clean mobility and the circular economy.Yesterday, EURACTIV got hold of a draft presented as “a working document” related to the green aspects of the recovery plan.On the funding side, the Commission plans to launch a “European Renovation Financing Facility”, tentatively financed with €91 billion per annum and blended with other sources of funding to reach €350 billion in investment per year.
US survey: autonomous driving is not yet there
The organization PAVE carried out a survey on autonomous driving in the USA. PAVE is an abbreviation for Partners for Automated Vehicle Education and consists of representatives from industry, research and non-profit organizations. The organization’s survey was aimed at around 1,200 people in the United States and had that Autonomous driving on the subject. Autonomous… Continue reading US survey: autonomous driving is not yet there
Financial injection for Hongjing Drive
The start-up Hongjing Drive has raised money for the development of autonomous driving. The Corona crisis caused the flow of money to abate somewhat, but now it seems to be flowing again. The start-up Hongjing Drive announced last week that it had raised several million RMB. No exact amount was given. To clarify: An RMB… Continue reading Financial injection for Hongjing Drive
Uber to Cut 3K More Jobs
In a bid to focus more on its core business and delivery business, Uber plans to cut 23% of its workforce, according to Reuters. In addition to the 3,700 jobs the company announced it was eliminating earlier this month, Uber plans to lay off 3,700 more employees. The preliminary layoffs were confined customer support and recruiting… Continue reading Uber to Cut 3K More Jobs