FILE PHOTO: Volvo Cars U.S. production plant is pictured in Ridgeville, South Carolina, U.S. June 20, 2018. REUTERS/Randall Hill STOCKHOLM (Reuters) – Volvo Cars, owned by China’s Geely, reported higher full-year revenue on Thursday, but said its profit margins had slipped and were expected to remain under pressure this year. Carmakers have faced rising costs… Continue reading CORRECTED-Volvo Cars feels margin pressure from U.S.-China tariff war
Tag: Geely
Daimler cuts dividend as downturn, R&D costs hit Mercedes
STUTTGART (Reuters) – Daimler cut its dividend on Wednesday after fourth-quarter operating profit plunged by 22 percent, hit by trade wars, rising costs for developing electric cars and an industry downturn that has dented even the most profitable carmakers. Daimler said the return on sales at Mercedes-Benz cars fell to 7.3 percent in the fourth… Continue reading Daimler cuts dividend as downturn, R&D costs hit Mercedes
Volvo to recall 167,000 cars due to possible tailgate fault
FILE PHOTO – The 2018 Volvo XC60 is displayed at the 2017 New York International Auto Show in New York City, U.S. April 12, 2017. REUTERS/Lucas Jackson STOCKHOLM (Reuters) – Volvo Cars said on Wednesday it would recall 167,000 of its XC60 model vehicles due to a possible fault with the electric tailgate mechanism. A… Continue reading Volvo to recall 167,000 cars due to possible tailgate fault
Daimler, Geely in talks to expand cooperation into a “bigger dimension”
STUTTGART, Germany, Feb 6 (Reuters) – Daimler Chief Executive Dieter Zetsche on Wednesday said the carmaker is in talks about deepening its cooperation with China’s Geely , even as German politicians draw up measures to protect German industry from foreign rivals. In October last year Daimler said it was setting up a ride-hailing joint venture… Continue reading Daimler, Geely in talks to expand cooperation into a “bigger dimension”
Polestar will reveal its first all-electric car on February 27th
Polestar Polestar was hyping up its first all-electric car even before its first car of any kind was ready, but now it’s finally prepared to show its hand. The company has announced that it’s revealing the Polestar 2 through a live online event on February 27th at 7AM Eastern. Sorry, that means no in-person looks… Continue reading Polestar will reveal its first all-electric car on February 27th
Purchase of energy storage specialist Maxwell: So Tesla makes the race for the super battery exciting
Christophe Gateau / dpa Tesla Model 3 in a showroom Has three weeks ago Tesla-Boss Elon Musk His company actually one vigorous austerity measures including job cuts prescribed, Musk wants to reduce the production costs of the Model 3 – and so bring the promised Model 3 entry-level version for $ 35,000 on the market.… Continue reading Purchase of energy storage specialist Maxwell: So Tesla makes the race for the super battery exciting
Volvo excels, Audi and Porsche flop in January registrations
A number of premium car makers saw big drops in new car registrations in January, according to data from the Society of Motor Manufacturers and Traders (SMMT). Audi and Porsche suffered notable losses compared with the same period last year, recording falls of 27% and 42% respectively. Those figures contrasted with a significant year-on-year increase of nearly… Continue reading Volvo excels, Audi and Porsche flop in January registrations
Press Releases – New CO2 targets for trucks must be ‘achievable in practice’ cautions industry
Brussels, 5 February 2019 – Ahead of next week’s final EU negotiations on CO2 standards for trucks, the European Automobile Manufacturers’ Association (ACEA) reiterates its support for a timely agreement on this regulation. At the same time, ACEA cautions policy makers that these first-ever CO2 targets will only be achievable if they are accompanied by… Continue reading Press Releases – New CO2 targets for trucks must be ‘achievable in practice’ cautions industry
Toyota’s new car subscription company Kinto is gamifying driving behavior
Toyota has officially launched Kinto, a company first revealed late last year that will manage a car subscription program and other mobility services in Japan, including the sale and purchase of used vehicles as well as automotive repair and inspection. Kinto is jointly funded by Toyota Financial Services, a wholly owned subsidiary of Toyota, and Sumitomo Mitsui… Continue reading Toyota’s new car subscription company Kinto is gamifying driving behavior
Tesla Buying Maxwell, Could Signal Move To Solid State Battery
The energy tech company makes ultracapacitors (and other interesting things). Tesla is buying up Maxwell Technologies. In a deal expected to be finalized in the second quarter of 2019, the California automaker has offered $4.75 per share for the company. That’s a healthy 55-percent increase above the energy storage technology company’s share price of $3.07 at Friday’s… Continue reading Tesla Buying Maxwell, Could Signal Move To Solid State Battery