Lithuanian car-sharing startup CityBee secures €110 million to expand its fleet with 5,000 new cars

With the costs of payments, insurance, and repairs, owning your own car can be a hassle. Vilnius-based car-sharing startup CityBee relieves you of these concerns by letting you easily rent a car through its app, starting at just €.14 per minute.

Founded in 2013, CityBee Solutions, which operates car-sharing services in Lithuania and Poland, has just received €110 million in investment from its owner, Modus Group. With the funding, the startup has announced an international tender to buy more than 5,000 new cars – five times more than the company’s current stock. The new cars will make CityBee one of the biggest car-sharing companies in Europe.

The car-sharing market is growing fast. In 2018 alone, CityBee’s customers made more than 1.2 million trips. And according to research by Berg Insight, by 2022 nearly 61 million people around the world will be using car sharing services.

The expansion of CityBee’s fleet will support the company’s plans to enter the Latvian and Estonian markets..

BMW and Daimler launch joint car sharing and carpooling service

Daimler and BMW are jointly striving for global market leadership in car sharing and mobility services. The automakers put together existing offers – 1000 new jobs are to be created. Daimler CEO Dieter Zetsche (left) and BMW boss Harald Krüger (right) Friday, 22.02.2019 14:51 clock Daimler and BMW In total, more than € 1 billion… Continue reading BMW and Daimler launch joint car sharing and carpooling service

Inside Tesla’s solar energy astroturfing

Tesla has been masking its lobbying efforts on solar panels and battery storage through the Energy Freedom Coalition of America, a trade association that is little more than a front for the automaker and alternative energy company, public documents suggest. SolarCity, which Tesla bought in 2016, began the practice of using the EFCA to promote… Continue reading Inside Tesla’s solar energy astroturfing

New partnership: Mytaxi becomes Free now – Daimler and BMW combine their mobility services

BMW boss Harald Krüger (left) and Daimler CEO Dieter Zetsche In a former subway tunnel under Potsdamer Platz in Berlin, two long-time rivals became partners on Friday. (Photo: AP) Berlin have been more than a hundred years Daimler and BMW bitter rivals. There were times when people in Stuttgart only mockingly talked about Munich and… Continue reading New partnership: Mytaxi becomes Free now – Daimler and BMW combine their mobility services

PEUGEOT CYCLES reveals its new e-bike racing team

PEUGEOT Cycles is entering the electric race. The PEUGEOT riders, bikes and sponsors were revealed on 22 February at the PEUGEOT DESIGN LAB Studio in Vélizy (France). PEUGEOT CYCLES are taking part in the 2019 World E-Bike Series (WES), international electric mountain-bike racing series. This event will be a showcase for PEUGEOT’s range of high… Continue reading PEUGEOT CYCLES reveals its new e-bike racing team

BMW and Daimler invest €1bn in tech venture

BMW and Daimler have unveiled a joint venture to invest in new-generation services such as driverless vehicles, ride-hailing and parking services. The German firms are investing €1bn (£880m) in the project, which will also look into pay-per-use car schemes. The move comes as traditional manufacturers face competition from mobility services provided by Uber and other… Continue reading BMW and Daimler invest €1bn in tech venture

Valmet: ACQUISITION OF OWN SHARES 21.02.2019

Valmet: ACQUISITION OF OWN SHARES 21.02.2019 Valmet Oyj NOTIFICATION 21.02.2019 at 18:30 VALMET Oyj: ACQUISITION OF OWN SHARES 21.02.2019 Date 21.02.2019   Exchange transaction Buy   Share class VALMT   Amount 19,600   Average price/share 21.3894 EUR Highest price/share 21.4600 EUR Lowest price/share 21.3200 EUR Total price 419,232.24 EUR       The shares held… Continue reading Valmet: ACQUISITION OF OWN SHARES 21.02.2019

ZF Tells Workshops Develop Unique Position Now to Meet Demands of Next Generation Aftermarket

“Increasing technology and purchasing power driven by online sales mean that the global customer expects its demands to be met 24/7. Anything less is no longer acceptable and you will lose business. If the customer doesn’t get what they want, when they want it, in the right way and at the right price – they… Continue reading ZF Tells Workshops Develop Unique Position Now to Meet Demands of Next Generation Aftermarket

UPDATE 1-Daimler, BMW to invest 1 bln euros in venture to rival Uber

Harald Kruger, CEO and Chairman of the Board of Management of BMW AG and Dieter Zetsche, CEO of Daimler AG, shake hands at a news conference to present plans for combining the companies’ car-sharing businesses, in Berlin, Germany, February 22, 2019. REUTERS/Axel Schmidt BERLIN (Reuters) – German carmakers Daimler and BMW unveiled a joint ride-hailing,… Continue reading UPDATE 1-Daimler, BMW to invest 1 bln euros in venture to rival Uber

Piech brand to launch with electric sports car at Geneva

Piech Automotive will announce itself to the world with an electric sports car, named the Mark Zero, at next month's Geneva motor show.

The company was co-founded in 2016 by Anton Piëch, who is the son of Ferdinand Piech – the hugely successful former chairman of the Volkswagen Group – and the great-grandson of Ferdinand Porsche, the designer of the original Volkswagen Beetle and founder of the Porsche brand. His business partner is industrial designer Rea Stark Rajcic.

Piëch is a public company based in Zurich, Switzerland, and has no affiliation with the Volkswagen Group.

The two-door, two-seat Mark Zero is unusual among the myriad EVs from start-up brands in that it doesn't use a skateboard-type chassis, as popularised by Tesla. Instead, it's based on a modular platform that Piëch developed with the help of 200 'exterior staff'.

In the Mark Zero, the batteries are positioned along the central tunnel and on the rear axle, rather than packaged into the floor. It is therefore expected that the car is rear-wheel drive, although Piëch hasn't confirmed the location of the motor (or motors).

The Piëch platform is claimed to be accommodating of internal combustion engine, hybrid, battery-electric and hydrogen fuel cell powertrains, and some of the hardware, such as the battery, can apparently be swapped out.

The Mark Zero's battery comes from an unnamed Sino-German joint venture “previously not active in the automotive industry”. It uses cells that are said to be highly thermoefficient, allowing them to be cooled by air, rather than water, and capable of rapid charging.

A goal of 500km (311 miles) range on the new WLTP testing cycle has been set for the coupé, which weighs “less than 1800kg”. For comparison, the Rimac C_Two electric hypercar weighs 1950kg. No performance figures have yet been suggested by Piech.

It's unclear who has engineered the Mark Zero, although design sketches appear to be signed by Porsche's Peter Varga. It also hasn't been stated where Piëch's funding originates.

Following the retro-modern coupe, Piëch would apparently like to add a saloon and an SUV to its portfolio.

More details are set to be revealed in a press conference at Geneva on 7 March.