(ATTN: ADDS details throughout) NEW DELHI, Feb. 7 (Yonhap) — Kia Motors Corp., South Korea’s second-largest automaker by sales, rolled out a new compact SUV concept in India on Wednesday, heralding its full-fledged foray into the local market. The compact SP SUV concept was showcased at the 14th Auto Expo 2018, India’s largest motor show… Continue reading (LEAD) Kia unveils new compact SUV in India
Tag: Strategy
Renault-Nissan-Mitsubishi and DiDi Chuxing sign MOU to explore car-sharing partnership in China
World’s leading automotive alliance to explore future business opportunities with global transportation company Renault-Nissan-Mitsubishi, the world’s leading automotive alliance, today announced it has signed a memorandum of understanding with DiDi Chuxing (‘DiDi’), the leading Chinese mobile transportation platform, to explore future business cooperation on a new electric vehicle car-sharing program in the People’s Republic of… Continue reading Renault-Nissan-Mitsubishi and DiDi Chuxing sign MOU to explore car-sharing partnership in China
Announcing our partnership with Dubai’s Roads and Transport Authority
We have a vision for enabling an autonomous world for everyone, everywhere – and we’re excited to help Dubai deliver their vision for a driverless future. The Roads and Transport Authority of Dubai plays a vitally important role in developing the future of infrastructure in the city. Their remit includes preparing legislation, strategic planning, and… Continue reading Announcing our partnership with Dubai’s Roads and Transport Authority
Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim
With an eye toward a greater role in the future of mobility services, the big Indiana used-car auction company KAR announced Wednesday it acquired Stratim, a software startup that organizes maintenance and repairs for car-sharing fleets. Carmel, IN-based KAR (NYSE: KAR) says Stratim not only augments its core auction business, but also bolsters its advances… Continue reading Big Car-Auction Firm KAR Buys SF Mobility Support Startup Stratim
China’s Geely takes 3pc stake in Daimler with an eye on electric car venture with Mercedes parent
Chinese carmaker Zhejiang Geely Holding Group has reportedly spent US$3 billion for a stake of just under 3 per cent in German carmaker Daimler as it aims to become a global player. The shares, which were bought on the secondary market according to Reuters, provides further evidence that Geely, controlled by billionaire Li Shufu, is… Continue reading China’s Geely takes 3pc stake in Daimler with an eye on electric car venture with Mercedes parent
Mitsubishi Motors Q3 profit jumps 19 fold to $865 mn
As part of the alliance that includes Nissan and Renault, Mitsubishi Motors is also targeting cost-savings of more than 100 billion yen over the next three years due to development and procurement efficiencies. TOKYO: Mitsubishi Motors Corp on Monday said its operating profit more than doubled during the third quarter as higher sales in Asia… Continue reading Mitsubishi Motors Q3 profit jumps 19 fold to $865 mn
GM reports $3.9 billion loss for 2017
General Motors headquarters is seen in the Renaissance Center in Detroit. (Photo: Stan Honda / Getty Images) General Motors Co. reported Tuesday a loss of $3.9 billion in 2017, due largely to charges related to the new tax law and the Opel-Vauxhall sale, in what the company characterized as a very strong year. Even though… Continue reading GM reports $3.9 billion loss for 2017
TomTom reports fourth quarter and full year 2017 results
Amsterdam, the Netherlands, 6 February 2018 7:30 AM CET Financial summary Q4 ’17 Revenue of €220 million (Q4 ’16: €266 million) Gross margin of 59% (Q4 ’16: 58%) EBITDA of €37 million (Q4 ’16: €39 million) Cash flow from operating activities of €98 million (Q4 ’16: €76 million) Financial summary FY ’17 Revenue of €903… Continue reading TomTom reports fourth quarter and full year 2017 results
GM races to build a formula for profitable electric cars
By Paul Lienert and Joseph White DETROIT (Reuters) – General Motors Co Chief Executive Mary Barra has made a bold promise to investors that the Detroit automaker will make money selling electric cars by 2021. What Barra has not explained in detail is how GM intends to do what, so far, no major automaker has… Continue reading GM races to build a formula for profitable electric cars
Big portion of future GM electric vehicles for China market: executive
DETROIT (Reuters) – General Motors Co’s China unit will sell a “substantial portion” of the automaker’s future electric vehicles, GM China President Matt Tsien said on Wednesday. In a briefing at GM headquarters, Tsien said, “China is at the heart of our electrification strategy.” Tsien did not say which GM brands would sell electric vehicles… Continue reading Big portion of future GM electric vehicles for China market: executive