Geely, which is rated BBB- with a stable outlook by S&P, worked with banks for more than a year, before launching the transaction late on Wednesday morning, following an extensive pre-sounding exercise with Asian and European investors that covered 90% of the deal prior to launch. UBS, Citi, Please take a trial or subscribe to access… Continue reading Geely cashes in on AB Volvo volatility to raise €400m – GlobalCapital
Tag: Geely
UPDATE 3-Uber unveils next-generation Volvo self-driving car
WASHINGTON (Reuters) – Uber Technologies Inc unveiled its newest Volvo self-driving car in Washington on Wednesday as it works to eventually deploy vehicles without drivers under some limited conditions. FILE PHOTO: Uber’s Volvo XC90 self driving car is shown during a demonstration of self-driving automotive technology in Pittsburgh, Pennsylvania, U.S. September 13, 2016. REUTERS/Aaron Josefczyk… Continue reading UPDATE 3-Uber unveils next-generation Volvo self-driving car
South Korea’s LG Chem to team up with China’s Geely on EV batteries – Reuters UK
SEOUL (Reuters) – South Korean battery maker LG Chem Ltd said on Thursday it had signed an agreement to set up a joint venture with China’s Geely Automobile Holdings Ltd to produce batteries for electric vehicles. The two parties would invest $94 million each in the venture, LG Chem said in a statement. The joint… Continue reading South Korea’s LG Chem to team up with China’s Geely on EV batteries – Reuters UK
The future of car ownership: Building an online dealership
Buying a car is painful. Dealerships are the worst, and the options are endless. The rise of the Internet produced powerful tools for shoppers, but in the end, most buyers still have to trudge down to a car lot. For this series of articles, TechCrunch spoke with several founders and investors attempting to rethink car… Continue reading The future of car ownership: Building an online dealership
Uber unveils new Volvo self-driving vehicle in a step toward robotaxi service
Uber Advanced Technologies Group unveiled Wednesday a new generation of self-driving Volvo XC90 SUVs that are designed and built to be fully driverless, a critical milepost for the company as it inches toward deployment of a robotaxi service. Volvo and Uber have developed several prototypes since entering into a joint engineering partnership in September 2016.… Continue reading Uber unveils new Volvo self-driving vehicle in a step toward robotaxi service
Proton-Geely SUV X70 begins local assembly trials in Malaysia
KUALA LUMPUR, June 12 (Xinhua) — Malaysian national carmaker Proton has begun local assembly trials of its X70 Sports Utility Vehicle (SUV) at its manufacturing plant in Tanjung Malim, the company said on Wednesday.
The vehicle, jointly manufactured with China's Geely, will be put together at Proton's new 1.2 billion ringgit (290 million U.S. dollars) assembly plant, which is currently in its final stages of completion, said Proton chairman Syed Faisal Albar who spoke during a signing ceremony at the plant.
“Proton aims to start the production of the X70 in Tanjung Malim in the second half of this year so we are working hard to ensure we hit the target,” he said, adding that it was significant this was achieved within two years of cooperation.
Syed Faisal also said Proton had seen its sales jump from the fourth place on the Malaysian market to the second during the second quarter of this year, attributing this to the introduction of the X70, with its advanced features, to th..
A New Class of Vehicle: Production-Ready Self-Driving
A New Class of Vehicle: Production-Ready Self-Driving UberATGBlockedUnblockFollowFollowing Jun 12 Introducing our latest self-driving vehicle in partnership with Volvo Cars, a world leader in automotive safety. Introducing Uber ATG’s latest self-driving vehicle Since September 2016, Uber ATG and Volvo Cars have teamed up in a joint engineering partnership to develop several self-driving car prototypes. Today… Continue reading A New Class of Vehicle: Production-Ready Self-Driving
Uber’s European rival Bolt enters London market, again
FILE PHOTO: A Bolt (formerly known as Taxify) sign is seen on the taxi car in Riga, Latvia April 9, 2019. REUTERS/Ints Kalnins TALLINN (Reuters) – Estonia’s Bolt, which until early 2019 was called Taxify, will on Tuesday re-enter the competitive London taxi market, promising cheaper rides to passengers and a better cut to drivers… Continue reading Uber’s European rival Bolt enters London market, again
Dealers stock more used cars but sell slower in May
UK dealers stocked 15% more used vehicles in May than 12 months ago, according to the latest Market View from Motors.co.uk. Dealers’ average stock levels rose from 60 to 69 cars. However, cars took two days longer to sell in May than 12 months ago increasing from 38 to 40 days. May also marked a… Continue reading Dealers stock more used cars but sell slower in May
Toyota to launch ultra-compact battery vehicle, tie up with China’s CATL
The company has partnered with CATL. TOKYO: Toyota Motor Corp will launch an ultra-compact, battery-powered car that seats two by next year and will tie up with Chinese battery maker CATL, it said on Friday, to accommodate an accelerated shift to electric vehicles. Japan’s largest automaker said it aimed to have half of its global… Continue reading Toyota to launch ultra-compact battery vehicle, tie up with China’s CATL