March 23, 2018 Chinese electric car startup CHJ Automotive has pocketed Rmb3 billion ($473 million) in its Series B funding round led by Matrix Partners China and Shougang Fund’s new energy fund portfolio, according to Chinese media reports. CHJ Automotive, described by Western media as a Chinese rival to Tesla, said the funding round was… Continue reading Matrix Partners co-leads $473m round in China’s electric car maker CHJ Automotive
Tag: M and A
Dana Secures Contract to Supply Axles for Next-Generation Jaguar, Land Rover Programs
MAUMEE, Ohio, March 22, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) has announced new contracts to supply front and rear axles for the next generation of iconic Jaguar and Land Rover luxury vehicles. The estimated value for these programs total more than £300 million. Dana’s latest Spicer® AdvanTEK® axles will deliver greater power density in… Continue reading Dana Secures Contract to Supply Axles for Next-Generation Jaguar, Land Rover Programs
Mahindra and Ford Sign MoUs to Co-Develop Midsize and Compact SUV, Electric Vehicle and Connected Car Solutions
Strengthen strategic collaboration focusing on product development for India and emerging markets Agree to evaluate co-development of compact SUV and electric vehicle, along with sharing powertrain portfolios Embark on joint development of connected vehicle solutions Chennai, India, March 22, 2018 – Mahindra Group and Ford Motor Company will jointly develop new SUVs, and a small… Continue reading Mahindra and Ford Sign MoUs to Co-Develop Midsize and Compact SUV, Electric Vehicle and Connected Car Solutions
Daimler and BMW: Merger of Car2Go and DriveNow is perfect
All articles and backgrounds 03/22/2018 Daimler and BMW Fusion from Car2Go and DriveNow are perfect PR Car2Go and DriveNow: Daimler and BMW each hold 50 percent of the new company, which is valued at more than one billion euros The car companies Daimler Show stock market chart and BMW Show stock market chart are close… Continue reading Daimler and BMW: Merger of Car2Go and DriveNow is perfect
Walmart will sell cars in 250 of its stores
A year ago the giant of the retail distribution of the United States announced that it was entering a completely new part for them in terms of commercialization, that of the sale of vehicles. Until now, it offered this possibility in 25 of its establishments, but now it publishes that it will extend the initiative… Continue reading Walmart will sell cars in 250 of its stores
The emissions of new cars sold in Spain rise for the first time in ten years
The average emissions of carbon dioxide (CO2) of new cars sold in Spain stood at 116 grams per kilometer traveled in 2017, which is one gram more than the average of the previous year, according to MSI consultancy for employers of the concessionaires, Faconauto. In this way, it ends with a tendency of falls in… Continue reading The emissions of new cars sold in Spain rise for the first time in ten years
Auto parts supplier: ZF Friedrichshafen pumps billions into development
ZF Friedrichshafen ZF, which belongs to the Zeppelin Foundation of the city of Friedrichshafen, is planning two new plants for the production of parts for electric drives. (Photo: AP) The auto supplier ZF Under his new boss, Wolf-Henning Scheider, Friedrichshafen does not want to let up in the race for new products for electric and… Continue reading Auto parts supplier: ZF Friedrichshafen pumps billions into development
ZF posts record sales in 2017; announces increased research and development activities
“The world of mobility is spinning at high speed,” said Scheider. “We plan to provide our customers with pioneering solutions in all fields under our motto ‘See – Think – Act’, which is why we will further increase our research and development spending.” In 2017, ZF spent €2.2 billion on research and development, an increase… Continue reading ZF posts record sales in 2017; announces increased research and development activities
PSA to produce Aisin AW’s EAT6 automatic transmission in Valenciennes plant
PSA’s Valenciennes plant, which will have a production capacity of 300,000 automatic gearboxes per year, will cater to Peugeot, Citroën and DS flagship models, as well as Opel and Vauxhall models produced on the Group’s platforms. To meet the increasing demand of automatic gearboxes, the PSA Group has entered into a license agreement with Aisin… Continue reading PSA to produce Aisin AW’s EAT6 automatic transmission in Valenciennes plant
Automotive group: PSA invests in Opel plants outside Germany
Opel main plant in Rüsselsheim For the time being, the German locations are not involved in investments in several Opel plants by the French parent company PSA. (Photo: AP) The French automobile company PSA invests in several Opel-Werk outside Germany. So to be built from 2019 on in the factories Tychy (Poland) and Szentgotthárd (Hungary)… Continue reading Automotive group: PSA invests in Opel plants outside Germany