January 14, 2019 Flipkart co-founder Sachin Bansal has invested $21 million in India’s largest cab-hailing platform Ola (ANI Technologies Pvt Ltd), marking his first investment following his ouster from Flipkart, which resulted in him selling his stake in the online retailer for nearly $1 billion. Part of a bigger round, Bansal is expected to infuse… Continue reading Flipkart co-founder Sachin Bansal invests $21m in Ola, may inject more
Tag: Financial Results
Auto parts supplier: “The party is over” – Continental management expects falling margins
Continental AG Automotive supplier Continental expects shrinking margins. (Photo: AP) DüsseldorfWith extreme caution, the auto parts supplier Continental into the just started year. Because of the worldwide Slowdown in car sales The Hanover-based company now calculates a further decline in operating return on sales (EBIT margin, adjusted). In 2019, the yield is expected to be… Continue reading Auto parts supplier: “The party is over” – Continental management expects falling margins
New Mercedes GLB SUV to feature all-electric EQ B version
The upcoming Mercedes-Benz GLB SUV will feature a pure-electric EQ B version alongside petrol, diesel and petrol-electric hybrid powertrains. The EQ B, sitting underneath the recently revealed EQ C, promises a range of up to 310 miles and will feature an aerodynamically optimised GLB-based body, according to factory insiders. The new Mercedes-Benz SUV, which goes under… Continue reading New Mercedes GLB SUV to feature all-electric EQ B version
Outlook on Sales and Adjusted-EBIT Margin for Fiscal 2019
Continental AG has decided to publish its expectations for business development in a fiscal year in terms of ranges, in accordance with industry custom. The increasingly volatile market conditions and profound technological changes in the automotive industry make it ever more difficult to precisely forecast the business development over a one-year period. Based on current… Continue reading Outlook on Sales and Adjusted-EBIT Margin for Fiscal 2019
Continental Achieves Annual Targets
Stable operating performance in fourth quarter as expected Annual sales rise to around €44.4 billion (organic growth at about 3 percent) Adjusted EBIT for the year: around €4.1 billion (margin at about 9.2 percent) Free cash flow was higher than expected at about €1.8 billion 2019 outlook: Consolidated sales of about €45 to €47 billion at… Continue reading Continental Achieves Annual Targets
Auto parts supplier: Continental expects falling margins
Continental AG Automotive supplier Continental expects shrinking margins. (Photo: AP) MunichThe auto supplier Continental is preparing for increased pressure on its margins in the new year. The company from Hanover expects only an adjusted return on earnings before interest and taxes (EBIT margin) of between eight and nine percent for 2019, such as Conti announced… Continue reading Auto parts supplier: Continental expects falling margins
China car sales hit reverse for first time since 1990s
BEIJING/SHANGHAI (Reuters) – Car makers in China will face more fierce competition this year, after a tough 2018 when the world’s biggest auto market contracted for the first time in more than two decades, the country’s top auto industry association said on Monday. FILE PHOTO: Newly manufactured cars are seen at the automobile terminal in… Continue reading China car sales hit reverse for first time since 1990s
Latest in Ford-VW buzz: Hackett says VW might make Fords in Europe – Detroit Free Press
Detroit Free Press staff Published 9:19 p.m. ET Jan. 13, 2019 | Updated 9:50 p.m. ET Jan. 13, 2019 CLOSE Analysts note that the car companies recently initiated talks about small partnerships, but each may be motivated to think big because of their limited product lines and limited regional scope. Wochit One of the big stories at… Continue reading Latest in Ford-VW buzz: Hackett says VW might make Fords in Europe – Detroit Free Press
Ford’s CEO says a ‘big surprise’ is coming next year with electric vehicles
Ford CEO Jim Hackett on restructuring, going electric and China's slowdown
2 Hours Ago | 10:00
Ford Motor is gearing up to launch new electric cars as soon as next year, CEO Jim Hackett told CNBC on Sunday.
Ford has previously announced its plans to invest $11 billion in electric vehicles by 2022 and produce 40 hybrid and fully electric cars, in a plan to revive its slowing business. However, the company's chief told CNBC that drivers should be prepared for 'a big surprise' from Ford.
“We talked about a huge investment in electric vehicles. We have 16 models that are in design and development. We have a pretty big surprise coming next year,” Hackett told CNBC's Phil LeBeau on the sidelines of the Detroit Auto Show, which kicks off this week.
During the first nine months in 2018, Ford's profit dropped a whooping 27 percent from the same period in 2017. Shares of Ford, which tumbled 39 percent in 2018, are hunkered under $10 a share for the first time since 2012.
“Some of the pain in the margins additionally [is] because the vehicles are old. We have on average the oldest fleet in the industry and we are going to have average the newest fleet. 75 percent of the portfolio is being turned over,” the CEO said.
The company is also in the middle of a massive restructuring with an aim to slash costs by $14 billion over the next five years. Ford recently announced plans to cut thousands of jobs in Europe as well as discontinuing some unprofitable lines there.
Yet in the face of a skeptical market Hackett defended Ford's moves to right its ship. He told CNBC that investors “needed to be a little patient with some of the long-lived problems that haven't been addressed that I'm going to represent. In less than 19 months, I've addressed every one of them.”
Many companies have expressed concerns about American brands potentially falling out of favor in China. For example, tech giant Apple cut its forecast in January, sounding alarms that an economic slowdown will weigh on its business. However, Hackett is not so worried.
“China's optimism is still high with us,” he told CNBC. “The brand is one of the highest-ranking brands in the country. Even at the highest levels of the government they see it as a family-owned business that middle America loves. The Chinese want to relate to American businesses like that,” Hackett added.
Seamless EV Charging Is Catching On In North America
NORTH AMERICAN CHARGING NETWORKS MOVE TO ENABLE SEAMLESS ROAMING FOR EV CHARGING Electric vehicles are often compared to mobile phones. Among other similarities, both devices depend on a stack of interdependent hardware, software and services, and both need to be plugged in and charged after use, normally in the evening. *This article comes to us courtesy of EVANNEX (which… Continue reading Seamless EV Charging Is Catching On In North America