US-based bike sharing company LimeBike has raised a US$70 million B+ round, the company announced today. The funds will suppport the company’s expansion beyond its core bike rental business, to include electric bikes and scooters, differentiating it from Chinese bike sharing giants such as Mobike and ofo. California-based Fifth Wall Ventures led the funding round, which brings… Continue reading Limebike Raises $70M B+ Round As Bike Sharing Competition Intensifies
Tag: Strategy
Mahindra to Invest in Zoomcar
Mahindra to Invest in Zoomcar Investment in keeping with Mahindra’s thrust on Shared Mobility Business To invest up to Rs 176 crore February 15, 2018 Mumbai: Mahindra & Mahindra Ltd., part of the USD 19 billion Mahindra Group, today announced that it would be investing in Zoomcar India Private Limited and in Zoomcar Inc., its… Continue reading Mahindra to Invest in Zoomcar
2017 ANNUAL RESULTS – STRONG PERFORMANCE IN 2017 WITH OPERATING MARGIN AT 7% OF SALES IN H2 2018, GUIDANCE AHEAD OF ROADMAP
Record order intake at €62 Bn, up €9 Bn. Acceleration of innovation strategy. Proposed dividend of €1.10 per share, up 22% year-on-year in €m 2016 2017 Change Sales* 15,613.6 16,962.2 +10.6%** Operating income 970.2 1,170.3 +20.6% as % of sales 6.2% 6.9% +70bps Net income from continued operations 532.5 714.5 +34.2% Recurring net cash flow… Continue reading 2017 ANNUAL RESULTS – STRONG PERFORMANCE IN 2017 WITH OPERATING MARGIN AT 7% OF SALES IN H2 2018, GUIDANCE AHEAD OF ROADMAP
Cummins acquires Johnson Matthey’s automotive battery systems business
Cummins Inc has announced the acquisition of Johnson Matthey’s UK automotive battery systems business, a subsidiary of Johnson Matthey that specialises in high-voltage automotive grade battery systems for electric and hybrid vehicles. As part of the acquisition, Cummins and Johnson Matthey also agreed to collaborate on the development of high energy battery materials for commercial… Continue reading Cummins acquires Johnson Matthey’s automotive battery systems business
Lost in translation? GM plant shutdown shocks South Korea
SEOUL (Reuters) – Only weeks into a new job heading General Motors Co’s international operations, Barry Engle flew into a frigid South Korea in January and held a series of meetings with government officials to discuss the future of GM’s loss-making local unit. In what they thought were meet-and-greet introductions, senior officials agreed to work… Continue reading Lost in translation? GM plant shutdown shocks South Korea
Mahindra & Mahindra to take 16 percent stake in Zoomcar
In November 2017, Mahindra Electric and Zoomcar launched 20 Mahindra e20 PLus EVs for hire by residents and visitors in Mysore. Mahindra & Mahindra (M&M) has announced that it is to invest in Zoomcar India and in Zoomcar Inc, its US incorporated holding parent company, in line with the automaker’s thrust on the shared mobility… Continue reading Mahindra & Mahindra to take 16 percent stake in Zoomcar
Ford overhauls China operations: ‘Bear with us’
Peter Fleet, then the Vice President, Marketing, Sales and Service, Asia Pacific, Ford Motor Company, announces in April 2017 that the Ford Ranger midsize pickup will be available to Chinese customers in 2018. (Photo: Ford Motor Company) Ford Motor Co. is resetting its China operations, moving some workers back to the U.S. and hiring Chinese… Continue reading Ford overhauls China operations: ‘Bear with us’
Faurecia to Build New $60 Million Manufacturing Facility in Kansas City Metro
BLUE SPRINGS, Mo., Feb. 15, 2018 /PRNewswire-USNewswire/ — The Kansas City Area Development Council announced today that Faurecia, a leading automotive technology company, will build a new $60 million, 250,000-square-foot interiors production facility in Blue Springs, Missouri, part of the Kansas City area. The company, a global leader in developing automotive seating, interior systems and… Continue reading Faurecia to Build New $60 Million Manufacturing Facility in Kansas City Metro
Renault Board of Directors proposes appointment of Messrs. Pierre Fleuriot and Thierry Derez as New Independent Directors
On the proposal of the Appointment and Governance Committee, the Board of Directors of Renault proposed at its meeting held on February 15, 2017, the appointment of Messrs. Pierre Fleuriot and Thierry Derez as new independent directors, as successors to Messrs. Marc Ladreit de Lacharrière et Thierry Desmarest, and the renewal of the directorship of… Continue reading Renault Board of Directors proposes appointment of Messrs. Pierre Fleuriot and Thierry Derez as New Independent Directors
Communication from the board of directors following the meeting of February 15, 2018
The Groupe Renault Board of Directors, acting upon the recommendation of the Appointments and Governance Committee, has proposed the renewal of Mr. Carlos Ghosn’s position as Director. This recommendation will be submitted at the Renault annual shareholders’ meeting to be held on June 15, 2018.