Tag: M and A

Geely to build new plant in China to boost growth

Geely is planning on building a new plant in the eastern port city of Ningbo that is capable of producing 250,000 units of larger-sized vehicles annually. It expects the move to boost sales growth and help meet the goal of selling over two million vehicles by 2020, sources tell Automotive News. The new facility will… Continue reading Geely to build new plant in China to boost growth

Avis Joins Internet of Things Consortium

Avis Budget Group has been leveraging IoT technology to offer its customers the most flexible and convenient on-demand mobility options. Photo via iStockPhoto/Karneg. Avis Budget Group today announced it has become a member of The Internet of Things Consortium (IoTC). The company has joined the consortium given the critical role that IoT technologies are playing in Avis Budget… Continue reading Avis Joins Internet of Things Consortium

Uber CEO: No plans to sell self-driving car unit ‘for now’

Uber has no plans to sell its self-driving car research unit “at this time,” according to the company’s chief executive. Dara Khosrowshahi said that the ride-hailing giant will “absolutely” keep the research unit, known as the Advanced Technologies Group, including when the company files its initial public offering, which Khosrowshahi said is on track for 2019.… Continue reading Uber CEO: No plans to sell self-driving car unit ‘for now’

UPDATE 1-Uber ‘on track’ for IPO in 2019, no plans to sell tech unit -CEO

NEW YORK (Reuters) – Uber Technologies Inc Chief Executive Dara Khosrowshahi said on Wednesday the ride-hailing company was on track to launch an initial public offering next year and had no plans to sell its self-driving car research arm. The Chief Executive Officer (CEO) of ride-sharing app Uber Dara Khosrowshahi pictured on stage during an… Continue reading UPDATE 1-Uber ‘on track’ for IPO in 2019, no plans to sell tech unit -CEO

UPDATE 1-Volvo reveals new robo-taxi in race to autonomy

GOTHENBURG (Reuters) – Volvo Cars presented a fully electric robo-taxi on Wednesday, as the Geely-owned Swedish company races to meet an ambitious target for driverless vehicle sales with its Uber supply deal on hold. Volvo’s 360c autonomous concept car is seen in Gothenburg, Sweden September 5, 2018. TT News Agency/Bjorn Larsson Rosvall via REUTERS Besides… Continue reading UPDATE 1-Volvo reveals new robo-taxi in race to autonomy

Schuler and Porsche establish joint venture for car body parts

On Tuesday, September 4, the companies signed a contract establishing the joint undertaking, which was approved by the European Commission back in mid-August. Approval from other competition authorities is currently pending. The purpose of the joint venture between Schuler and Porsche is to build a Smart Press Shop. The intention is for the new, highly… Continue reading Schuler and Porsche establish joint venture for car body parts

Volvo 360c concept calls for universal safety standard for autonomous car communication

Volvo 360c concept calls for universal safety standard for autonomous car communication   With its new 360c autonomous concept, Volvo Cars tackles one of the main challenges around the introduction of autonomous technology and calls for a new, global standard in how autonomous vehicles can safely communicate with all other road users.   Autonomous drive… Continue reading Volvo 360c concept calls for universal safety standard for autonomous car communication

Volvo Cars’ new 360c autonomous concept: reimagining the work-life balance and the future of cities

Volvo Cars’ new 360c autonomous concept: reimagining the work-life balance and the future of cities   Where would you live if you could commute each workday in an autonomous driving, fully-functional, connected, comfortable, mobile office space? What if the service was provided via an on demand subscription basis? Or what if it was provided by… Continue reading Volvo Cars’ new 360c autonomous concept: reimagining the work-life balance and the future of cities