Waymo, Google’s former self-driving project that’s now an Alphabet company, announced today a new series of partnerships aimed at giving more people access to its autonomous vehicles. Through deals with Walmart, AutoNation, Avis and others, Waymo will pick up customers and drive them to businesses in the Phoenix area. The company already had existing relationships with… Continue reading Waymo partners with Walmart, Avis, AutoNation and others to expand access to self-driving cars
Tag: M and A
Fiat Chrysler boss Sergio Marchionne dies aged 66
Sergio Marchionne, the former head of Fiat Chrysler Automobiles (FCA), has died. Marchionne, 66, suffered complications from a recent shoulder surgery at a hospital in Zurich, Switzerland, and was replaced as CEO last weekend when his ill health prevented him from continuing in a leadership role. “Unfortunately, what we feared has come to pass. Sergio Marchionne,… Continue reading Fiat Chrysler boss Sergio Marchionne dies aged 66
Daimler and Baidu to Enhance Strategic Cooperation in Automated Driving and Vehicle Connectivity
Daimler and Baidu signed a Memorandum of Understanding to expand partner-ship through the Apollo autonomous driving platform and to integrate Baidu’s vehicle connectivity services into Mercedes-Benz infotainment system MBUX. Dr. Dieter Zetsche: “Automated driving and connectivity are progressing at an unprecedented rate in China. Daimler and Baidu already enjoy a strong partnership in these two… Continue reading Daimler and Baidu to Enhance Strategic Cooperation in Automated Driving and Vehicle Connectivity
SEAT begins assembling the Arona and the Leon in Algeria to boost its globalisation strategy
SEAT continues to grow outside Europe. The company’s ambitious globalisation strategy is gaining new momentum with the final assembly of the Arona and the Leon in the plant owned by the Volkswagen Group and SOVAC, the Group’s importer in Algeria, in the city of Relizane, which is located 280 kilometres southwest of Algiers. Both models… Continue reading SEAT begins assembling the Arona and the Leon in Algeria to boost its globalisation strategy
BAIC Group announces R11-billion SA plant set to go live in 2018 Q4 – Job boost for locals, vehicle production to begin
Automaker BAIC Group today announced the completion of the critical construction and equipment installation milestones for Phase 1 of the historic R11billion investment which was announced in 2016. At a special milestone event hosted today (Tuesday, 24 July 2018), BAIC announced the completion of the semi-knocked-down (SKD) line and satisfactory progress on construction work streams of… Continue reading BAIC Group announces R11-billion SA plant set to go live in 2018 Q4 – Job boost for locals, vehicle production to begin
Southeast Asia’s Grab hit by backlash over changes to customer loyal program
Life without Uber should be simple for Grab, but a battle with regulators in Singapore could see the company’s acquisition of Uber’s Southeast Asia business unwound while some consumers have voiced concern around a lack of competition. Grab co-founder Hooi Ling Tan recently claimed competition remains in the market, but that hasn’t stopped another consumer backlash… Continue reading Southeast Asia’s Grab hit by backlash over changes to customer loyal program
Geely-owned Volvo’s IPO sees lower valuations in initial investor feedback
July 24, 2018 Initial investor feedback has valued Volvo Cars far below owner Zhejiang Geely Holding Group Co.’s top-end estimates for a potential listing, people familiar with the matter said. Institutional investors have indicated the Swedish carmaker is worth about $12 billion to $18 billion in early meetings to discuss an initial public offering, the… Continue reading Geely-owned Volvo’s IPO sees lower valuations in initial investor feedback
Groupe PSA and Inria create an OpenLab dedicated to artificial intelligence
Increasing efficiency and reliability of the results acquired by artificial intelligence methods for automotive applications use is one of the main research challenge of the OpenLab A dozen topics will be covered over a 4 years period Groupe PSA and Inria today announced the creation of an OpenLab dedicated to artificial intelligence. The studied areas… Continue reading Groupe PSA and Inria create an OpenLab dedicated to artificial intelligence
China’s Ningbo Jifeng succeeds with revised takeover offer for Germany’s Grammer
July 23, 2018 The family behind Chinese car parts maker Ningbo Jifeng said on Monday that its revised takeover offer for German peer Grammer has been successful. The Wang family, majority shareholder of Ningbo Jifeng, said that 37.7 percent of the Grammer shares had been tendered, meeting a lowered acceptance threshold of 36 percent. The German automotive… Continue reading China’s Ningbo Jifeng succeeds with revised takeover offer for Germany’s Grammer
Uber’s Indian rival Ola is aiming for an IPO in 3-4 years
Ola, Uber’s chief rival in India, is planning to go public potentially as soon as in three years time, according to its CEO. Co-founder and chief executive officer Bhavish Aggarwal told the audience at an event in Bengaluru last week that seven-year-old Ola is poised to become a cash flow positive business — having recently hit operational… Continue reading Uber’s Indian rival Ola is aiming for an IPO in 3-4 years