Top News:
- Toyota set to sell long-range, fast-charging electric cars in 2022: paper – Reuters: Toyota Motor Corp is working on an electric car powered by a new type of battery that significantly increases driving range and reduces charging time, aiming to begin sales in 2022, the Chunichi Shimbun daily reported on Tuesday.
- BMW to build electric Mini in UK – FT: BMW will build the fully electric version of the Mini in the UK, despite previously warning it would make the car overseas because of the uncertainty…
- GM beats Wall Street estimates, maintains 2017 outlook – Reuters: General Motors Co on Tuesday reported a better-than-expected quarterly net profit from continuing operations despite falling revenue and the No. 1 U.S. automaker maintained its earnings outlook 2017
- General Motors quarterly profit falls – Reuters: General Motors Co on Tuesday reported a lower quarterly net profit from continuing operations due to lower vehicle sales and restructuring charges, but results beat Wall Street expectations..
- Mitsubishi quarterly operating profit rebounds following scandal – Automotive News: Mitsubishi’s operating profit surged nearly fivefold in the latest quarter, rebounding from a year earlier when earnings were broadsided by a fuel economy scandal.
- Uber ties up with AXA for drivers’ accident cover in France – Reuters: Uber and insurance group AXA have joined forces in France to offer accident cover for drivers who work for the ride hailing service after it faced criticism over their treatment.
- Toyota to introduce game-changing electric vehicle in 2022 – report – Autocar:
- Unfixed Dieselgate-affected Volkswagens to be deregistered in Germany – Autocar: Drivers who neglect to get their cars updated will have them deregistered as Germany gets tough on its emissions laws
- Aston Martin Vanquish Zagato Volante and Speedster spotted testing – Autocar: Soft-top and roofless versions of Aston Martin’s limited-edition V12 sports car will be produced in a run of 99 and 28 units respectively
- Daimler directors to meet over alleged German auto cartel – sources – Reuters: Daimler’s supervisory board will meet on Wednesday and seek answers about whether German carmakers were part of a club that was allegedly involved in anti-competitive behaviour, sources familiar with the matter said on Tuesday.
- Elon Musk: Facebook CEO Mark Zuckerberg’s knowledge of A.I.’s future is ‘limited’ – CNBC: Mark Zuckerberg called Elon Musks’s doomsday view of AI “pretty irresponsible”.
- Are Americans really driving less? – CBS News: “Exciting transformations in mobility, including ridesharing, increased use of public transportation and self-driving vehicles,” said NAIC President Ted…
- Mitsubishi Motors’ Q1 profit surges as domestic sales recover – Reuters: Mitsubishi Motors Corp on Tuesday posted a four-fold jump in its operating profit for the first quarter, as the Japanese …
- US Is Said to Review Allegations German Carmakers Colluded – Bloomberg: That acknowledgment came after Der Spiegel reported last week that the biggest German car manufacturers — Daimler AG, BMW AG and Volkswagen…
- Startup Convoy raises $60 million as investors bet on trucking apps – Reuters: Convoy, an app connecting truck drivers with loads of freight, has raised more than $60 million as startup investors double down on technology bets to transform the long-haul trucking industry.
- BOE’s Brazier Sees Lenders ‘Dicing’ With Spiral of Complacency – Bloomberg: Booming car-loan growth, extended interest-free periods for credit cards and an easing of mortgage standards have created a “pocket of risk” that may…
- SoftBank reportedly seeking Uber stake valued at billions – CNBC: SoftBank has approached Uber about taking a multi-billion dollar stake, the WSJ reported on Tuesday, citing sources.
- SoftBank Seeks Multibillion-Dollar Stake in Uber – WSJ: SoftBank is pushing to take a commanding stake in the ride-hailing market, angling for a piece of Uber after spreading its bets across a trio of Asian startups.
- Detroit automakers downshift workforce, lineups – Detroitnews: Detroit Three cut shifts, abandon unprofitable sectors in first big test since bailout era
- Sources: Ford, GM looking to kill slow-selling sedans – Detroitnews: Ford Motor Co. and General Motors Co. are studying whether to stop producing multiple slow-selling sedans for the U.S. market as buyers’ tastes…
- Column: Tesla debacle will haunt state – Detroitnews: Tesla Motors plans to build a new factory for its Model Y crossover SUV, which could translate into thousands of manufacturing jobs. The company is…
- VW chief raps Porsche labor boss in Heilbronner Stimme interview – Reuters: Volkswagen CEO Matthias Mueller strongly criticized Porsche’s labor chief in German daily Heilbronner Stimme on Tuesday over public remarks about Audi’s management, in a sign of growing tensions within the automotive group.
- Germans Are Too Hard on Their Automakers – Bloomberg: The auto woes are also an immediate political threat to Chancellor Angela Merkel, who is cozy with the car lobby and has pushed for softer European…
- German automakers’ shares fall on diesel concerns – Detroitnews: Separately, five German automakers – Daimler’s Mercedes-Benz, Opel and Volkswagen and its subsidiaries Audi and Porsche – last year agreed to…
- Elon Musk’s Tunnel Plan Isn’t as Crazy as SpaceX or Tesla – Bloomberg: Musk followed the same basic formula with Tesla, picking a goal that many saw as impossible-a mass-market electric car-and using that goal as a…
- European shares dip, auto index worst performer – Reuters: European shares have dipped with the autos sector hitting its lowest level this year after anti-trust regulators opened an investigation into regional …
- VW, Daimler Workers Push for Carmaker Clarity on Collusion – Bloomberg: “I advise the car industry to clear the air now, to say what has happened, and then we can look to the future together again,” Volker Kauder, caucus…
- Germany’s Self-Crashing Car Industry – Bloomberg: Just as Germany’s car industry seemed to be turning a corner after the diesel emissions scandal, along comes another potentially credibility-shredding…