Electric-powered Mini cars are to be built in China, as well as in Oxford where most Minis are currently made. BMW, the owner of the Mini brand, said it had agreed an outline deal with Chinese manufacturer Great Wall Motor. Cars made under that partnership will be for the Chinese market. The deal will not… Continue reading Electric powered Minis to be built in China
Tag: M and A
BMW Group plans joint venture for MINI electric vehicles in China
Munich. The BMW Group is in advanced discussions to ramp up the global success of its MINI brand through a new joint venture in China. A key element of the brand’s continued strategic development will be local production of future battery-electric MINI vehicles in the world’s largest market for electromobility. To this end, the BMW… Continue reading BMW Group plans joint venture for MINI electric vehicles in China
Is Uber selling its Southeast Asia business to Grab?
If you read the tech press, you might have seen reports that Uber is pursuing a sale in Southeast Asia that would see Grab, its Singapore-headquartered rival valued at $6 billion, acquire Uber’s business in the region. Rumors of such a tie-in have been rife for a while. Uber sold its China business in exactly such… Continue reading Is Uber selling its Southeast Asia business to Grab?
Partnership agreed between Bosch and Munich Re
The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,500 associates worldwide (as of December 31, 2017). According to preliminary figures, the company generated sales of 78 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building… Continue reading Partnership agreed between Bosch and Munich Re
UPS is building its own fleet of electric delivery trucks
UPS announced today that it would be building its own electric delivery trucks from scratch. It will partner with truck maker Workhorse Group Inc to build the first 50 vans that could eventually replace the delivery giant’s fleet of fossil fuel-burning vehicles. The delivery EVs would have a range of 100 miles and will be… Continue reading UPS is building its own fleet of electric delivery trucks
Honcker raises at least $15M from IAC as it takes on the car-leasing-on-demand market
The car leasing and rental market is forecast to be worth $124 billion in 2022, and today a startup that is hoping to get a piece of that action by making the process of leasing a car easier is announcing a Series A in its effort to get there. Honcker — a New York-based startup… Continue reading Honcker raises at least $15M from IAC as it takes on the car-leasing-on-demand market
Europcar and Snappcar develop their private hire service
Services By Samia Ben Ahmed, the 22/02/2018 Since June 2017, Europcar holds a 20% stake in the Dutch start-up. Europcar, in partnership with SnappCar, launches the Drive & Share mobility service in Germany and Denmark. A deployment that follows the success of this service in France. New mobility solutions are on the rise! Europcar partners… Continue reading Europcar and Snappcar develop their private hire service
Visteon Reports Strong 2017 Financial Results
View the full-year 2017 financial summary infographic Visteon Announces Strong 2017 Results Delivered strong financial performance Sales of $3,146 million ($797 million in fourth quarter) Net income of $176 million ($25 million in fourth quarter) Adjusted EBITDA of $370 million ($102 million in fourth quarter) Adjusted free cash flow of $148 million ($58 million in… Continue reading Visteon Reports Strong 2017 Financial Results
India Dealbook: Grab, The Healthy Billion, HighRadius Corp raise funds
February 22, 2018 Hyperlocal delivery startup Grab, healthtech firm The Healthy Billion and technology company HighRadius have received funding. Hyperlocal delivery startup Grab gets raises $1.3m Hyperlocal delivery startup Grab has received $1.3 million investment from Maharashtra State Social Venture Fund, managed by SIDBI Venture Capital according to a report by to a paper.vc. As per the… Continue reading India Dealbook: Grab, The Healthy Billion, HighRadius Corp raise funds
Kia Motors India to begin production by mid-2019
Construction of the new plant in Anantapur district of Andhra Pradesh began in mid-2017 with an investment of about $1.1 billion (around Rs 7,050 crore). Kia Motors India is going all out with its India operations. The carmaker has laid down the structural framework for its new manufacturing facility in the Anantapur district of Andhra Pradesh. The… Continue reading Kia Motors India to begin production by mid-2019