BAIC booth at a car show in Beijing After the surprising entry of competitor Geely at the Stuttgart car manufacturer, Daimler has repeatedly emphasized how important BAIC is to him. (Photo: Reuters) Hong KongDaimler according to a report by the news agency Reuters, the investment bank Goldman Sachs a higher participation at the Chinese partner… Continue reading Car maker: Daimler is reportedly considering a higher stake in Chinese partner BAIC
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Alibaba, Tencent, car makers set up $1.5 billion China ride-hailing venture
BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. FILE PHOTO: A man stands near the logo of Alibaba Group at the company’s newly-launched office in Kuala Lumpur, Malaysia June… Continue reading Alibaba, Tencent, car makers set up $1.5 billion China ride-hailing venture
Daimler taps Goldman to raise China BAIC shareholding – sources
HONG KONG (Reuters) – Daimler has asked Goldman Sachs to help it explore increasing its stake in Chinese carmaker BAIC Motor Corp, its main China joint venture partner, two people with knowledge of the matter said. The Daimler is seen during a press conference on the second press day of the Paris auto show, in… Continue reading Daimler taps Goldman to raise China BAIC shareholding – sources
Chinese auto, internet giants set up $1.46b fund to invest in ride-sharing industry
March 22, 2019 China’s major automobile and internet companies, including Chongqing Changan Automobile, Alibaba and Tencent, are setting up a 9.76 billion yuan ($1.46 billion) joint venture to invest in ride-sharing industry, Chongqing Changan Automobile said on Friday. Chongqing Changan Automobile has invested 1.6 billion yuan ($238.70 million) in the investment company in Nanjing with… Continue reading Chinese auto, internet giants set up $1.46b fund to invest in ride-sharing industry
VW establishes battery research consortium
VW wants to put everything on the electric card – and founds an international consortium for battery cell research. The merger wants to apply for funding from Minister of Economics Altmaier. A VW Golf Hybrid (archive image) Thursday, 21.03.2019 14:02 clock Volkswagen has joined forces with partners from seven EU countries to research battery cells… Continue reading VW establishes battery research consortium
China’s auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry
FILE PHOTO: A man stands near the logo of Alibaba Group at the company’s newly-launched office in Kuala Lumpur, Malaysia June 18, 2018. REUTERS/Lai Seng Sin/File Photo BEIJING (Reuters) – China’s major automobile and internet companies, including Chongqing Changan Automobile, Alibaba and Tencent, are setting up a 9.76 billion yuan ($1.46 billion) joint venture to… Continue reading China’s auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry
U.S. fund Elliott suffers crushing defeat in Hyundai proxy vote
By Hyunjoo Jin and Ju-min Park SEOUL (Reuters) – Investors in Hyundai Motor Group companies rejected on Friday Elliott Management’s demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund’s campaign to shake up South Korea’s second-biggest family-run conglomerate. Elliott’s loss in a series of closely watched votes… Continue reading U.S. fund Elliott suffers crushing defeat in Hyundai proxy vote
Geely presses ahead with European debut as China auto sales slow – Nikkei Asian Review
HONG KONG — Chinese automaker Zhejiang Geely Holding Group is moving ahead with plans to roll out models in Western Europe this year after missing its annual sales target amid setbacks at home, the company said Thursday. Rising competition and weak consumer appetite for big-ticket items in China prompted Geely, one of the country’s top private automakers and… Continue reading Geely presses ahead with European debut as China auto sales slow – Nikkei Asian Review
Battery cell production for electric cars: VW establishes European battery consortium with Northvolt
Bloomberg via Getty Images Production of electric car battery packs at BMW The automotive industry is under power: The Volkswagen Group Show stock market chart wants 70 electric car models and 30 plug-in hybrid cars in the next ten years to offer, Daimler Show stock market chart introduced the Mercedes EQC at the beginning of… Continue reading Battery cell production for electric cars: VW establishes European battery consortium with Northvolt
Phillips & Temro acquires EVoCharge
Phillips & Temro Industries, a US-based company that manufactures heating and cooling systems for trucks, EVs, and other vehicles, has acquired a majority stake in EVoCharge, a manufacturer of charging equipment and the EVoReel cable management system. EVoCharge CEO Josh Kiewic said, “Consumers and fleets evaluating new electric and hybrid technologies will have the benefit… Continue reading Phillips & Temro acquires EVoCharge