Tesla is moving all of its sales online, a dramatic shift in its sales strategy that will result in the closure of stores and some layoffs as the automaker looks for ways to reduce costs in order to bring a cheaper Model 3 to market. Tesla CEO Elon Musk didn’t say how many stores would… Continue reading Tesla closing retail stores in shift to online-only sales strategy
Tag: Strategy
Ford slashes 2000 jobs in China after sales drop nearly 40% – Nikkei Asian Review
BEIJING/TOKYO — Ford Motor’s main Chinese joint venture is reducing its workforce by 2,000, or about 10%, after suffering a sharp reversal in the world’s biggest auto market. Several executives revealed the decision to cut jobs at Changan Ford Automobile, which is owned equally by Ford and state-owned China Changan Automobile Group. Changan Ford’s cuts mostly affect its main… Continue reading Ford slashes 2000 jobs in China after sales drop nearly 40% – Nikkei Asian Review
Alliance Ventures invests in Chinese charging platform startup PowerShare
Alliance Ventures, the venture capital arm of Renault-Nissan-Mitsubishi, has invested an undisclosed amount in PowerShare, an EV charging platform startup based in China. PowerShare, which received investment from BP Ventures just weeks before this latest investment, offers an online platform that connects EV drivers, charge point operators, and power suppliers. The startup’s cloud-based system enables… Continue reading Alliance Ventures invests in Chinese charging platform startup PowerShare
SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo
SoftBank’s Vision Fund is taking a bet on China’s auto market after it agreed to pour $1.5 billion into online car trading group Chehaoduo, which literally means “many cars” in Chinese. The Beijing-based company operates two main sites — peer-to-peer online marketplace Guazi for used vehicles, and Maodou, which retails new sedans through direct sales… Continue reading SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo
SRG Global and The Lighting Consultants form strategic partnership
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CATL Deepens Battery Tie With BAIC BJEV, Pride Power
2 M BY GASGOO CATL to grow even larger. Chinese EV battery provider Contemporary Amperex Technology Limited (CATL) announced on February 25 that it has signed a five-year agreement to deepen the cooperation with BAIC BJEV and Beijing Pride Power System Technology Limited (Pride Power). More CATL News According to the announcement, CATL and Pride… Continue reading CATL Deepens Battery Tie With BAIC BJEV, Pride Power
SEAT and IBM revolutionise urban mobility with AI
SEAT along with IBM reported the development of a new solution designed to transform driving in cities. Announced the day after SEAT presented its concept car Minimó promising to revolutionise urban mobility, ‘Mobility Advisor’ uses IBM Watson AI to help urban citizens make informed decisions about their daily transportation options: from cars, to scooters, to… Continue reading SEAT and IBM revolutionise urban mobility with AI
SEAT Minimó, the concept set to revolutionise mobility
A concept car featuring a battery swap system to fully recharge the car in a matter of minutes, lowering carsharing operating costs by up to 50% A 100% electric vehicle that combines the best of a motorcycle and a car Minimó is set to be a city ally offering enhanced mobility and reducing vehicle footprint… Continue reading SEAT Minimó, the concept set to revolutionise mobility
BMW Group and Daimler AG to jointly develop next-generation technologies for automated driving
· Long-term strategic cooperation planned· Next generation of technologies for driver assistance systems and highly automated driving on highways (SAE Level 3 and Level 4)· Goal: a flexible platform and shorter innovation cycles· Technology to be market ready by mid-2020s· Klaus Fröhlich: Consistent pursuit of scalable platform strategy and pooling of expertise from two technology… Continue reading BMW Group and Daimler AG to jointly develop next-generation technologies for automated driving
ZF Friedrichshafen says held takeover talks with Wabco
FRANKFURT, Feb 28 (Reuters) – ZF Friedrichshafen has held takeover talks with U.S. rival Wabco, a spokesman for the German car parts maker said on Thursday. “ZF regularly reviews strategic options such as partnerships or possible sensible acquisitions. These strategic considerations repeatedly lead to ZF talking to other companies,” the spokesman said. “We have also… Continue reading ZF Friedrichshafen says held takeover talks with Wabco