Munich. With the acquisition of Sixt SE’s stake in DriveNow, the BMW Group continues its systematic development as a customer-centric mobility company. Today’s signing is subject to approval by antitrust authorities. With this move, the world’s leading provider of premium mobility is offering customers efficient, sustainable mobility solutions from a single source. The rapidly growing… Continue reading DriveNow becomes wholly-owned subsidiary of BMW Group
Tag: Financial Results
German Carmakers Take Another Hit With Diesel Testing on Humans
Diesel’s reputation took another blow amid revelations that Germany’s auto industry sponsored tests that exposed humans as well as monkeys to the fuel’s exhaust fumes, which can cause respiratory illness and cancer. The study, supported by a little-known group founded by Volkswagen AG, Daimler AG and BMW AG in 2007, had 25 people breathe in… Continue reading German Carmakers Take Another Hit With Diesel Testing on Humans
DriveNow will be owned by BMW alone
BMW buys the partner Sixt their shares in the joint car sharing provider DriveNow from. The move could pave the way for a possible merger of BMW and Daimler car sharing services. Getty Images DriveNow Mini Monday, 29.01.2018 14:41 clock The car-sharing service DriveNow should in the future belong to BMW alone. The car rental… Continue reading DriveNow will be owned by BMW alone
Honeywell Reports Strong Fourth Quarter And 2017 Results, Raises 2018 Guidance To Reflect Lower Tax Rate
• Exceeded Fourth-Quarter Earnings Per Share Guidance on Stronger Margins• Fourth-Quarter Reported Sales Up 9%; Organic Sales Up 6%, Driven by Strength in Aerospace Aftermarket, UOP, Advanced Materials, and Intelligrated• Segment Margin Expansion Driven by Strong Top-Line Growth, Productivity, and Repositioning Benefits• Fourth-Quarter Operating Cash Flow of $2.2B; Free Cash Flow of $1.8B, Conversion of… Continue reading Honeywell Reports Strong Fourth Quarter And 2017 Results, Raises 2018 Guidance To Reflect Lower Tax Rate
Alibaba, Foxconn invest $350m in Chinese electric car startup Xiaopeng
January 29, 2018 Chinese e-commerce giant Alibaba Group Holding Ltd. and Foxconn Technology Group led a new fundraising round by electric carmaker Xiaopeng Motors, investing 2.2 billion yuan ($350 million) in the startup as a push toward battery-powered vehicles intensifies. The latest funding puts the total investment in Xiaopeng at 5 billion yuan, according to… Continue reading Alibaba, Foxconn invest $350m in Chinese electric car startup Xiaopeng
Further software optimizations for diesel vehicles
In recent months, extensive analyses have been carried out for all Porsche diesel vehicles of emission class EU6. These are related to the retrofitting of diesel engines for vehicles of the Volkswagen Group announced in Berlin on 2 August 2017 as part of the so-called “diesel summit”. For the Macan 3.0-liter V6 diesel, Porsche has… Continue reading Further software optimizations for diesel vehicles
AirSpaceX’s Autonomous Electric Flying Taxi Will Hit the Skies in 2026
In Brief AirSpaceX unveiled their MOBi-ONE flying taxi at the North American International Auto Show in January. The autonomous, fully-electric flying taxi can carry 2 to 4 passengers to specific areas within 60 miles, at a top speed of 250 mph. Autonomous Air Travel Self-driving and electric cars are already changing how we travel on… Continue reading AirSpaceX’s Autonomous Electric Flying Taxi Will Hit the Skies in 2026
Tesla boss Elon Musk pursues his most unlikely goal yet: a $55bn bonus
Tesla The Observer Tesla boss Elon Musk pursues his most unlikely goal yet: a $55bn bonus Some say the firm is already overvalued at $60bn. But its founder’s vision is now truly ambitious Elon Musk unveils Tesla’s forthcoming Roadster 2 sports car in California. Photograph: Reuters Racy valuations for loss-making businesses are nothing new to… Continue reading Tesla boss Elon Musk pursues his most unlikely goal yet: a $55bn bonus
Fiat Chrysler’s Marchionne Has Lessons for Ford CEO Jim Hackett
With retirement approaching, Sergio Marchionne seems determined to go out with a bang: the Fiat Chrysler Automobiles NV boss thinks operating profit will surpass that of Ford Motor Co. this year. On Thursday, Marchionne reminded analysts that’s a surprising turn of events. He’s right. It’s less than a decade since Chrysler filed for bankruptcy protection (Ford… Continue reading Fiat Chrysler’s Marchionne Has Lessons for Ford CEO Jim Hackett
Electric Robotaxis Won’t Kill Sports Cars: Porsche CEO
Porsche AG will pursue a three-pronged strategy to diversify its lineup as the German manufacturer gears up for the rollout of its first all-electric sports car next year to tackle a fundamental industry shift toward battery-powered vehicles. “There will be a triad: plug-in hybrids, emotional sports cars with combustion engines and sporty electric vehicles,” Chief… Continue reading Electric Robotaxis Won’t Kill Sports Cars: Porsche CEO