TOKYO (Reuters) – Nissan CEO Hirota Saikawa told reporters on Monday that he had not heard directly about a reported French proposal to integrate Nissan’s management with France’s Renault, adding that it was not the stage to discuss revising their capital ties. FILE PHOTO: Nissan President and Chief Executive Officer Hiroto Saikawa attends a news… Continue reading Nissan CEO says new capital ties with Renault not discussed
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Renault-Nissan merger ‘not on the table’: French minister
CAIRO: French Economy Minister Bruno Le Maire on Sunday dismissed talk of a merger between Renault and Nissan, despite Japanese media reports that France was pushing for it. Le Maire’s remarks were made during his visit to Cairo. Earlier on Sunday, Japanese media said France wants a merger between Renault and Nissan following the arrest… Continue reading Renault-Nissan merger ‘not on the table’: French minister
Autonomous driving: The BMW-Daimler-Plan cars are testing close cooperation
BMW Vision iNeXT More than 1,000 engineers are developing the new vehicle on a campus north of Munich. The planned for 2021 electric SUV should dominate the automated driving and at least on motorways for a long time without drivers get along. (Photo: BMW Group / Enes Kucevic) MunichThe rivalry between Daimler and BMW is… Continue reading Autonomous driving: The BMW-Daimler-Plan cars are testing close cooperation
Elon Musk SEC Lawsuit Stems From Misleading Tweets To Take Tesla Private
SEC sues Tesla CEO Elon Musk for securities fraud.
The Securities and Exchange Commission has filed a lawsuit against Tesla CEO Elon Musk for a series of posts on Twitter where he suggested taking his company private at a stock price of $420 per share.
Court documents filed on Thursday show that SEC charged Musk for securities fraud due to misleading tweets. According to CNBC, sources close to the company also expect Tesla to be sued albeit the company was not named as defendant in the complaint.
The complaint alleges that Musk issued false and misleading statements that funding was secured for a Tesla buyout.
The statements were posted on Twitter in August. Less than three weeks after the controversial tweet, Tesla announced it will remain pubic.
“Musk’s statements, disseminated via Twitter, falsely indicated that, should he so choose, it was virtually certain that he could take Tesla private at a purchase price that reflected a substantial premium over Tesla stock’s then-current share price,” the filing from the Southern District of New York reads.
SEC said that Musk’s tweets caused significant disruption, and now seeks civil penalties sans noting an amount. It also wants to bar the billionaire from serving as an officer or director of any public company.
“Corporate officers hold positions of trust in our markets and have important responsibilities to shareholders,” Steven Peikin, co-Director of the SEC’s Enforcement Division, said in a press release.
During a press conference held on Thursday evening regarding the complaint, Stephanie Avakian, co-director of the SEC’s division of enforcement, enumerated the responsibilities that Musk should have as chairman and CEO of a public company.
“Those responsibilities include the need to be scrupulous and careful about the truth and accuracy of statements made to the investing public,” Avakian said.
In response to the SEC complaint, Musk said that the allegations are unjustified. He also said that he has always taken actions in the best interest of investors, truth and transparency. Amid issues of making misleading statements, Musk said that he never compromised his integrity.
In a statement released on Thursday evening, Tesla and the company’s board showed support to their CEO. The statement attributes Elon’s integrity and leadership for transforming Tesla into the most successful auto company in the United States in over a century.
Tesla shares dropped more than 13 percent in extended trading on Thursday following news of the lawsuit. The stock is around 30 percent below its 52-week high of $387.46.
Lime, Bird said to raise millions in new funding at far lower valuation
January 20, 2019 Two electric scooter startups, fresh off raising hundreds of millions of dollars last year, are now raising hundreds of millions more, according to multiple people familiar with the details. But the latest hard-fought deal terms for Lime and Bird Rides Inc. both peg the companies’ worth at far less than the lofty… Continue reading Lime, Bird said to raise millions in new funding at far lower valuation
Mercedes-Benz considers resuming car assembly in Egypt – MENAFN.COM
(MENAFN – Daily News Egypt) The planned localisation effort is being developed in close collaboration with the Egyptian government and was further concretised in recent successful discussions between Markus Schäfer, member of the Divisional Board of Mercedes-Benz Cars, Production and Supply Chain, and the President Abdel Fattah Al-Sisi in Cairo, and with the Prime Minister Mostafa… Continue reading Mercedes-Benz considers resuming car assembly in Egypt – MENAFN.COM
Boutique carmaker Karma Automotive, legendary design firm Pininfarina team up – Digital Trends
Boutique automaker Karma Automotive is teaming up with one of the greatest names in car design for its future luxury cars. During the Automotive News World Congress at the 2019 Detroit Auto Show, Karma CEO Lance Zhou announced a partnership with Pininfarina, the Italian design firm that has likely shaped more of history’s best-looking cars… Continue reading Boutique carmaker Karma Automotive, legendary design firm Pininfarina team up – Digital Trends
Allego And GIREVE Charging Networks Sign Interoperability Agreement
More charging points to be accessible using a single provider As in the U.S., also in Europe we see progressing consolidation and collaboration between charging operators. One of the latest partnership is between Allego charging network and GIREVE on an integrated platform for charging operators. According to the press release, GIREVE customers will get access to… Continue reading Allego And GIREVE Charging Networks Sign Interoperability Agreement
Tesla layoffs, US-built VW electric car, an electrified Detroit: The Week in Reverse
Cadillac electric crossover SUV based on GM BEV3 modular platform
Which Chinese automaker showed an electric minivan in Detroit?
What upcoming SUV will underpin a new “elegant” electric from Lincoln?
This is our look back at the Week In Reverse—right here at Green Car Reports—for the week ending January 18, 2019.
Last week, the CES show in Las Vegas was something of a disappointment for visitors looking for the latest in electric and self-driving car technology. The Detroit auto show, long a staple of big horsepower and heavy iron, provided the jolt for electric car fans that CES lacked, with several new-car introductions.
2020 Ford Explorer, 2019 Detroit auto show
Ford showed a hybrid version of its redesigned, top-selling Explorer for 2020. Following the show, the company revealed that it is working on an all-electric version of its top-selling F-Series pickup.
Cadillac gave a glimpse of its upcoming electric SUV for 2022 about which it revealed details in an investor conference last week.
GAC Entranze concept, 2019 Detroit auto show
Chinese automaker GAC revealed a new electric minivan concept that it says could be one of the first cars from a Chinese automaker to arrive in the U.S. in 2020.
Nissan revealed a new high-riding luxo-sedan concept, the IMs. It shares some details with last year's IMx concept, an electric crossover SUV expected to arrive in production form next year.
Infiniti QX Inspiration SUV concept, 2019 Detroit auto show
The company's luxury brand, Infiniti, also introduced a new electric concept, the QX Inspiration, that previews a new sporty crossover SUV due to arrive as part of the brand's electric transformation.
And Nissan discussed how it might position its new e-Power series hybrid system that's likely to also drive Infinitis in the U.S.
2019 Hyundai Kona Electric
In the North American car, truck, and SUV awards announced at the show the Hyundai Kona, including the Kona Electric, defeated the Jaguar I-Pace for the utility vehicle of the year award.
More automakers than usual made news at industry conferences immediately following the show, including Volkswagen, which announced that it will expand its factory in Tennessee to build electric cars for the U.S. and will partner with Ford to build light pickups and vans for overseas markets, in a deal that is expected eventually to encompass shared electric cars.
Volkswagen charging at VW Elli charging station
Separately, Volkswagen also announced that it will follow Tesla into the power business, with a new lineup of products and services. The effort is called Elli and it will sell electric-car chargers, manage renewable energy, and more, aimed at electric car customers.
Lincoln revealed that it will adapt a version of Ford's upcoming high-performance electric SUV into an “elegant” electric crossover vehicle.
Comments from General Motors President Mark Reuss suggested that the company is not planning any new hybrids to replace the Chevrolet Volt when it ends production in April, even though it is one of the best-selling plug-in cars in America.
2020 Hyundai Ioniq [2020 Euro-spec model]
Detroit also wasn't the only place where new cars were revealed this week. Hyundai showed a refreshed version of its Prius-fighting Ioniq lineup in Europe.
And we brought you a roundup of details about how Audi and Mercedes-Benz have smaller electric SUVs in the works to follow their upcoming mid-size offerings.
No week seems complete without news from Tesla, the EPA, or Faraday Future, either. Tesla announced it will lay off 7 percent of its workforce, about 3,200 people, even as it continues to try to build more Model 3s. The company also began selling a new portable charger that will deliver 40 amps at 240-volts.
NEVS 9-3 concept, 2017 CES Asia
After burying the hatchet with Faraday Future, the startup automaker's lead investor announced that it will invest in the Chinese company building electric conversions of the last Saab 9-3 in China.
Finally, as EPA Acting Administrator Andrew Wheeler headed to Capitol Hill in the midst of the government shutdown for confirmation hearings as the agency's permanent head, Colorado poked the bear with its announcement that it plans to join California in requiring automakers to sell electric cars there.
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BHEL, Libcoin to build India’s first lithium-ion battery plant: Govt
New Delhi: State-run BHEL and Libcoin are in talks to form a consortium to initially build a 1GWh lithium-ion battery plant in India, the government said Friday. The plant’s capacity will be scaled up to 30GWh in due course. “BHEL will be sending a team of senior officers for study of the facilities, R&D infrastructure… Continue reading BHEL, Libcoin to build India’s first lithium-ion battery plant: Govt