Taxi giant ComfortDelGro and ride-hailing firm Uber have agreed to dissolve a strategic agreement which they entered into last December. In a statement yesterday, ComfortDelGro said it will no longer be acquiring a 51 per cent stake in Uber’s wholly owned car rental subsidiary in Singapore, Lion City Holdings. The acquisition, valued at about $642… Continue reading ComfortDelGro, Uber call off acquisition deal
Tag: Strategy
Uber’s European rival Taxify raises $175M led by Daimler at a $1B valuation
There’s a new unicorn in the global ride-hailing space after Taxify, a startup born in Estonia that does battle with Uber across Europe and Africa, closed $175 million in new funding that takes it valuation to the $1 billion mark. Daimler, the German automotive giant which owns Mercedes-Benz among other things, led the round. The investment… Continue reading Uber’s European rival Taxify raises $175M led by Daimler at a $1B valuation
Report: Nissan to cut North America output
Ma Jie, Bloomberg News Published 5:14 p.m. ET May 29, 2018 Nissan’s output in the U.S. has been sliding for 10 consecutive months as of March, and the contraction is likely to have extended in April as well, with the company reporting its production data this week. Sales plunged 28 percent in the month. (Photo:… Continue reading Report: Nissan to cut North America output
Germany: Opel and IG Metall agree
After months of negotiations, the Opel management and the IG Metall union-controlled works council came to an agreement in principle on the future of the sites of the German subsidiary of PSA. In exchange for additional wage efforts and a staff reduction capped at 3,700 out of 19,000 in Germany, the staff obtained a backup… Continue reading Germany: Opel and IG Metall agree
Fisker’s comeback powered by new battery
“We are going to see a huge disruption in mobility. We will see a large amount of new type of vehicles emerge, which will make 20 or 30, or 40 percent of our time more efficient”Henrik Fisker Automotive design maven Henrik Fisker’s new venture might be less about the automobile than the technology that will… Continue reading Fisker’s comeback powered by new battery
FAURECIA SHAREHOLDERS’ MEETING – COMPOSITION OF THE BOARD OF DIRECTORS, DIVIDEND OF €1.10 PER SHARE AND PLAN TO CONVERT FAURECIA INTO A EUROPEAN COMPANY
All the resolutions were adopted at Faurecia’s Annual Shareholders’ Meeting held in Paris today under the chairmanship of Michel de Rosen. The shareholders approved the decision taken by the Board of Directors on October 12 to appoint Valérie Landon to the Board. Following the resignation of Jean-Pierre Clamadieu, effective at the close of the meeting,… Continue reading FAURECIA SHAREHOLDERS’ MEETING – COMPOSITION OF THE BOARD OF DIRECTORS, DIVIDEND OF €1.10 PER SHARE AND PLAN TO CONVERT FAURECIA INTO A EUROPEAN COMPANY
Fiat Chrysler investors want electric road map in CEO’s swan song
MILAN/LONDON (Reuters) – Fiat Chrysler (FCA) (FCHA.MI) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world’s seventh-largest carmaker remains in the race in the absence of a merger. FILE PHOTO: FCA CEO Sergio Marchionne addresses the media during a… Continue reading Fiat Chrysler investors want electric road map in CEO’s swan song
What makes major shareholder Hastor ?: Chinese are officially reaching auto supplier Grammer
All articles and backgrounds 05/29/2018 What makes major shareholder Hastor? Chinese Ningbo Jifeng wants auto supplier Grammer entirely DPA Production of car seats at car supplier Grammer in Kümmersbruck (Bavaria) Automotive supplier Grammer is about to be taken over by Chinese major shareholder Ningbo Jifeng. The Chinese have now officially submitted an offer to Grammer… Continue reading What makes major shareholder Hastor ?: Chinese are officially reaching auto supplier Grammer
Daimler Reboots Smart Car’s Management for Electric-Only Future
LISTEN TO ARTICLE SHARE THIS ARTICLE Daimler AG is changing top management at the maker of the tiny Smart car, part of the latest plan to overhaul a brand that’s always been an awkward fit for the world’s largest maker of luxury vehicles. Prompted by a strategic shift to electric vehicles, Annette Winkler will step… Continue reading Daimler Reboots Smart Car’s Management for Electric-Only Future
Zipcar plans all-electric fleet of over 300 Volkswagens in London
Zipcar is rolling out a fleet of 300 Volkswagen e-Golf in London this year — in what the company is touted as the largest rollout of electric cars in a single English city. Details from the company are still sketchy, but Zipcar said that the first electric vehicles will be available over the summer, with… Continue reading Zipcar plans all-electric fleet of over 300 Volkswagens in London