FRANKFURT (Reuters) – Volkswagen is looking to officially launch the stock market listing of its trucks unit Traton next week with a smaller deal size than originally anticipated, people close to the matter said on Tuesday. FILE PHOTO: The logo of Volkswagen’s truck unit Traton, former Volkswagen Truck & Bus AG, is pictured in Hanover,… Continue reading UPDATE 1-VW plans to launch downscaled Traton IPO next week – sources
Tag: Geely
Factbox: Auto industry consolidation – mega-mergers and alliances
FRANKFURT (Reuters) – Italian-American carmaker Fiat Chrysler on Monday proposed a merger of equals with France’s Renault in a deal that could create the world’s third-biggest carmaker and trigger a fresh round of industry consolidation. FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near… Continue reading Factbox: Auto industry consolidation – mega-mergers and alliances
BMW Shareholders Concerned Over Tesla’s Advantage
Shareholders are asking BMW about electric models that would blow Tesla out of the water. Premium car manufacturers in general are experiencing tough times with difficulties to increase sales and raising R&D costs due new trends like electrified, autonomous and connected cars. According to automotive analysts, current business model of premium/luxury brands needs to be… Continue reading BMW Shareholders Concerned Over Tesla’s Advantage
Nuance Automotive Powers Geely’s GKUI Smart Ecosystem – Yahoo Finance
BURLINGTON, Mass., May 23, 2019 (GLOBE NEWSWIRE) — Nuance Communications, Inc. (NUAN) today announced that its automotive platform provides AI-powered voice recognition for select car models from Geely, China’s fastest-growing automotive manufacturer, in its GKUI smart ecosystem powered by ECARX, a technology company under Geely Group. GKUI is Geely’s innovative digital cockpit system, integrating infotainment,… Continue reading Nuance Automotive Powers Geely’s GKUI Smart Ecosystem – Yahoo Finance
Dealers unhappy about return on investment in EV training
Dealers are unhappy about the return on investment they are making in equipment training for EV and plug in vehicles. That’s one of the key findings of the second NFDA Electric Vehicle Dealer Attitude Survey. When asked about their satisfaction with return on investment in equipment training for EV and plug-in vehicles, retailers gave the… Continue reading Dealers unhappy about return on investment in EV training
BMW CEO’s future in doubt as tensions erupt on tackling shift to EVs
BMW AG chief executive officer Harald Krueger’s job is hanging in the balance as the luxury carmaker steers towards a future of electric and autonomous vehicles and navigates weakening markets.BMW – like other carmakers – is making a costly transition to electric cars and new business models, and is confronting deep-pocketed tech competitors encroaching with new mobility options including ride hailing.Daimler, Toyota Motor Corp and Volvo Cars, meanwhile, have forged partnerships with Uber Technologies Inc, while Jaguar Land Rover is teaming up on self-driving electric cars with Alphabet Inc’s autonomous vehicle unit Waymo.
UPDATE 1-Uber and Lyft to turn the wheels on car ownership -industry experts
TORONTO (Reuters) – Ride-hailing apps like those of Uber Technologies and Lyft Inc are expected to alter the state of car ownership towards subscription-based services and shared ownership, auto industry experts said at a conference on Wednesday. FILE PHOTO: The Logo of taxi company Uber is seen on the roof of a private hire taxi… Continue reading UPDATE 1-Uber and Lyft to turn the wheels on car ownership -industry experts
Farewell of an alpha animal
For the Swabians, whoever gets a job “at the Daimler” is considered. Dieter Zetsche was chief executive there for 13 years. With a walrus beard and brisk performances he became a brand himself. Now he resigns – as one of the last of his kind. obs / SWR – Südwestrundfunk / Daimler AG Dieter Zetsche:… Continue reading Farewell of an alpha animal
A major Chinese automaker postpones its US launch as trade war drags on
Daniel Acker | Bloomberg | Getty ImagesGAC Motor, one of China's largest carmakers, has postponed its launch in the U.S. because of the ongoing trade war between the world's two-largest economies, a company executive said Tuesday.
The automaker, headquartered in Guangzhou in southern China, said its entrance into the U.S., which was anticipated for this year, will be postponed.
“The current relationship between the U.S. and China, the trade war, the relationship is uncertain” said Hebin Zeng, president of international at GAC Motor. “We postponed the plan to enter the North American market.”
Zeng declined to give a specific timeline on when GAC could enter the U.S.
“In terms of when we will go into the market, we will have further discussions depending on the changes of circumstances,” he said.
Geely is the only Chinese carmaker that sells in the U.S. through the Volvo Car brand that it owns.
GAC has been expanding into several international markets, particularly in the Middle East.
VW truck brand to invest $344 mln in Brazil after Ford exit
FILE PHOTO: The logo of Swedish truck maker Scania is pictured at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo SAO PAULO (Reuters) – Volkswagen AG truck brand Scania said on Tuesday it will invest 1.4 billion reais ($344.14 million) to modernize its Brazilian factory in Sao Bernardo do Campo, an… Continue reading VW truck brand to invest $344 mln in Brazil after Ford exit