Tag: Renault

Jaguar Land Rover makes £860m loss after strategy rethink

Jaguar Land Rover made a loss of £860m for its full financial year after its new boss wrote off £1.5bn in a strategy rethink, despite a recovery in sales since the slump at the start of the coronavirus pandemic. JLR would have made a £660m profit in the year to 31 March if not for… Continue reading Jaguar Land Rover makes £860m loss after strategy rethink

Japanese satellite firm Axelspace raises $24m in Series C funding

Axelspace, one of Japan’s pioneers in microsatellite technology, announced raising $24 million in a Series C funding round from a slew of local venture investors. Sparx Innovation participated in the funding round through The Space Frontier Fund while Sumitomo Mitsui Trust Investment Co joined via its Japan Co-Invest III Limited Partnership. Japan Post Investment Group,… Continue reading Japanese satellite firm Axelspace raises $24m in Series C funding

Renault could adopt battery swapping to slash EV charging time

French-carmaker Renault could very well become the first global OEM to deploy battery swapping technology in its electric vehicles to cut down on charging times. This is according to a recent report in the FT. The information was given by Luca de Meo, CEO, Renault at the Financial Times’ Future of the Car Summit. “I’ve asked… Continue reading Renault could adopt battery swapping to slash EV charging time

Autonomous startup WeRide raises new funds, at $3.3b valuation …

WeRide, an autonomous driving startup backed by Nissan, Renault and Mitsubishi, said on Thursday that it has raised hundreds of millions of dollars valuing the company at $3.3 billion. WeRide, which is testing vehicles in California, China’s southern city of Guangzhou and central city of Zhengzhou, did not disclose details on the size of the… Continue reading Autonomous startup WeRide raises new funds, at $3.3b valuation …

Waymo to lose its CFO and head of automotive partnerships

Waymo’s chief financial officer Ger Dwyer and its head of automotive partnerships and corporate development Adam Frost — two longtime executives at the autonomous vehicle company — are leaving this month, departures that comes amid some executive shuffling following CEO John Krafcik’s exit earlier this year. Dwyer and Frost’s departure was shared internally this week,… Continue reading Waymo to lose its CFO and head of automotive partnerships

Nissan sells its Daimler stake, following Renault

Japan’s Nissan Motor (7201.T) said on Tuesday it was selling its roughly 1.5% stake in German carmaker Daimler (DAIGn.DE) through an accelerated bookbuild offer, following a similar move by alliance partner Renault (RENA.PA) in March. The French carmaker, with Nissan, had exchanged stakes with Daimler a decade ago to strengthen their industrial partnerships. Cooperation is… Continue reading Nissan sells its Daimler stake, following Renault

Nissan heads for third consecutive loss on chip shortage

TOKYO — Nissan Motor forecasts a net loss of 60 billion yen ($551 million) in the year ending March 2022, the company said Tuesday, as a global semiconductor shortage continues to drag on its operations. That will mean a third consecutive year of losses for the company, although the forecast figure is substantially lower than… Continue reading Nissan heads for third consecutive loss on chip shortage

Renault Group: Nissan contributes -€73 million for first quarter 2021 to Renault’s earnings

 Nissan contributes -€73 million for first quarter 2021 to Renault’s earnings Boulogne-Billancourt, May 11th, 2021 Nissan released today its results for the fourth quarter of fiscal year 2020/2021 (April 1st, 2020 to March 31st, 2021). Nissan’s results, published in Japanese accounting standards, for the fourth quarter of fiscal year 2020/2021 (January 1st to March 31st,… Continue reading Renault Group: Nissan contributes -€73 million for first quarter 2021 to Renault’s earnings