- China’s Didi Chuxing launches ride service in Mexico – Reuters: Chinese ride-hailing firm Didi Chuxing on Monday launched its service in Toluca, Mexico, the company said, setting up a likely costly battle with rival Uber Technologies Inc [UBER.UL] in a key market.
- When in China, do as Didi does – Automotive News: Even cab drivers here use the Didi Chuxing ride hailing app — China’s counterpart to Uber or Lyft in the U.S. — to snag fares, and the hotel concierge did as … And even when the hotel entered a ride on my behalf, my destination was repeatedly…
- Exclusive: China’s Lishen plans first European sales office for electric vehicle batteries – Reuters: Exclusive: China’s Lishen plans first European sales office for electric vehicle batteries – source ReutersFull coverage
- GM Korea agrees with union on salary freeze and cut to benefits – Nikkei:
- German region ready to help Opel, but won’t be blackmailed – premier – Reuters: The German state of Thuringia is ready to offer assistance to carmaker Opel in order to keep the region’s Eisenach plant open, state premier Bodo Ramelow told Reuters on Monday.
- (News Focus) GM Korea avoids bankruptcy, hurdles remain for turnaround – Yonhap: GM and SAIC Motor Corp. control 77 percent and six percent stake in the company, respectively. GM Korea workers also made concessions — they accepted a wage freeze, forgoing bonuses and the suspension of some work benefits. In return, the company said…
- Amazon Has a Top-Secret Plan to Build Home Robots – Bloomberg: Prototypes of the robots have advanced cameras and computer vision software and can navigate through homes like a self-driving car. Former Apple executive Max Paley is leading the work on computer vision. Amazon has also hired specialized mechanical…
- Elliott wants Hyundai Motor Group to adopt holding company structure – Reuters: U.S. activist hedge fund Elliott Management said on Monday a restructuring plan proposed by Hyundai Motor Group to simplify its shareholding structure was not enough, and recommended it create a holding company, among other measures.
- WPP shares slip after Ford says it will take bids from other ad agencies – CNBC: Shares in the world’s largest advertising firm, WPP, fell Monday after investors learned that one of its biggest clients is reviewing its marketing spend. Ford Motor Company said Saturday that it is to take bids from a number of other firms for some of…
- BRIEF-VW’s Skoda Auto aims to double deliveries in China by 2020 – Reuters: BRIEF-VW’s Skoda Auto aims to double deliveries in China by 2020. Reuters Staff. 1 Min Read. April 23 (Reuters) – Volkswagen AG: * VW’S CZECH UNIT SKODA AUTO SAYS AIMS TO DOUBLE DELIVERIES IN CHINA TO 600,000 ANNUALLY BY 2020 Source text for Eikon:…
- Volvo Trucks plans to share electric truck battery tech across brands – Reuters: Volvo Trucks plans to share battery technology across its brands to tame development and production costs for the crucial but expensive component, as the world’s second-largest truck maker ramps up electric offerings, the company told Reuters on Monday.
- Volvo Unit Eyes Autonomous Trucks to Ease Japan Driver Shortage – Bloomberg: UD Trucks, a Japanese subsidiary of Swedish truckmaker Volvo AB, plans to introduce electric and autonomous trucks within the next two years, joining global rivals in developing driverless technologies to ease a labor shortage.
- Sensex, Nifty end higher; TCS lifts tech stocks – Reuters: Indian shares ended higher for a third consecutive session on Monday, driven by gains in IT and financial stocks, with software services exporter Tata Consultancy Services (TCS) crossing $100 billion in market capitalisation.
- Elliott proposes ‘accelerate Hyundai’ changes – Reuters: Activist investor Elliott Management Corp on Monday proposed the addition of three independent members to the board of Hyundai Motor Group in a document laying out its agenda after taking a more than $1 billion stake in the carmaker.
- Suppliers to the new Porsche 718 Cayman – Automotive News: Suppliers to the new Porsche 718 Cayman. James Clark Automotive News Europe April 23, 2018 06:01 CET. Assembly of the third-generation Porsche Cayman began in July 2016 at parent Volkswagen Group’s plant in Zuffenhausen, Germany. Output peaked at more…
- Hyperloop promises a 30-minute trip from Chicago to Cleveland, but multiple challenges ahead – Chicago Tribune: The idea of using vacuum technology commercially for transportation was revived in recent years by inventor and entrepreneur Elon Musk. Hyperloop companies include HyperloopTT, Virgin Hyperloop One and Musk’s The Boring Co., which is one of two…
- Elliott Advisors calls for broad Hyundai restructuring – FT: Hyundai should carry out a fundamental restructuring, appoint fresh board members and significantly increase dividends, Elliott Advisors has said under a proposed plan to bring “much needed improvements” to the Korean carmaker. The activist fund run by…
- BRIEF-Elliott Advisors (HK) Unveils “Accelerate Hyundai” Proposals, Releases Letter To Hyundai … – Reuters: Elliott Advisors (HK) Limited: * SAYS UNVEILED ACCELERATE HYUNDAI PROPOSALS, RELEASED LETTER TO BOARD OF HYUNDAI MOTOR GROUP. * SAYS SENDS LETTER TO BOARD OF DIRECTORS OF HYUNDAI MOTOR GROUP. * SAYS PROPOSES TO HYUNDAI …
- Jaguar XE Landmark Edition arrives with sports trim and new 18in wheels – Autocar: Jaguar has added a Landmark Edition to its XE range that gains bespoke 18in wheels and several sporty additions High-ranking variant builds on R-Sport with new 18in wheels and perforated leather seats
- 2018 Mercedes-Benz A-Class Saloon leaks online ahead of Beijing reveal – Autocar: A single image of the A-Class Saloon has been leaked onto the internet Mercedes-Benz’s smallest three-box model will arrive with an AMG A45 version to take on the Audi RS3 Saloon
- GM Korea May Have Avoided Bankruptcy at the Last Minute – Fortune: General Motors’ South Korean unit appears to have avoided bankruptcy at the last minute, thanks to a tentative wage deal with unions. GM Korea said in February that it was considering shutting down one of its four plants in the country, and even…
- A Kanye West and Elon Musk Tesla Bromance in Tweets – Bloomberg: Kanye West and Elon Musk’s bromance is hitting an all-time high. Rapper and entrepreneur West took to Twitter to praise his Tesla Inc. car, with some of his tweets being picked up by Musk, the electric-auto maker’s chief executive officer, a few hours …
- Volkswagen Plans First US Bond Sale After Emissions Scandal – WSJ: … including the move toward electric and self-driving vehicles and potential alterations to global trade networks. “We are experimenting like many others with what the customer really wants,” Mr. Witter said. Volkswagen invested in ride-hailing…
- Thuringia ready to help Opel, but won’t be blackmailed – premier – Reuters: The German state of Thuringia is ready to offer assistance to carmaker Opel in order to keep open the region’s Eisenach plant, state premier Bodo Ramelow told Reuters on Monday.
- GM Korea drops bankruptcy vote plan after last-minute wage deal – Reuters: General Motors Co’s (GM) South Korean unit dropped a plan for a vote on a bankruptcy filing after reaching a tentative wage deal with … GM shocked South Korea in February when it unveiled a major restructuring plan for the money-losing unit, which…
- Alibaba Digital Assistant Goes Into Chinese Mercedes, Audis and Volvos – Bloomberg: Alibaba is getting its Alexa-like digital assistant into Mercedes-Benzes, Audis and Volvos in China. It’s called Tmall Genie https://bloom.bg/2K5DH8s #tictocnews (Source: Bloomberg). Terms of Service Trademarks Privacy Policy ©2018 Bloomberg L.P. All…
- South Korea says to join forces to normalise GM’s Korea unit – Reuters: South Korea says to join forces to normalise GM’s Korea unit. Reuters Staff. 1 Min Read. SEOUL (Reuters) – The South Korean government said on Monday it would join forces to help normalise General Motors Co’s (GM.N) South Korean unit. The government…
- Grab’s dominance in Southeast Asia will not go unchallenged – Nikkei: As ride-hailing services have become indispensable to Southeast Asia’s infrastructure, the abrupt rise of now-dominant player Grab has shaken up the industry in the region. With the exit of U.S.-based Uber Technologies, competition in the field is…
- Strong Nissan LEAF sales drive global EV momentum – Nissan-global: Nissan”s global electric vehicle sales jumped 10% last fiscal year, driven by growing customer demand for the zero-emission Nissan LEAF, the world”s best-selling EV.The 100% electric car posted robust growth across all the major electric-vehicle…
- GM Korea reaches tentative wage deal, avoids bankruptcy – Reuters: General Motors Co’s (GM.N) South Korean unit on Monday said it has reached a … With the deal, GM Korea’s board has dropped its plan to vote on Monday on filing for bankruptcy protection, a GM Korea spokesman said. The U.S. automaker shocked South…
- BRIEF-Carmaker PSA reiterates hopes to find deal with German Opel staff – Reuters: Peugeot SA: * CARLOS TAVARES, CHAIRMAN OF GROUPE PSA MANAGING BOARD, AND OPEL CEO HAD FRUITFUL DISCUSSIONS ON FRIDAY WITH PETER ALTMAIER AND HUBERTUS HEIL, GERMAN FEDERAL MINISTER OF LABOR AND SOCIAL AFFAIRS. * CONFIRM …
- UK, Michigan to collaborate on self-driving car rules – FT: Bodies such as the UK’s Centre for Connected and Autonomous Vehicles, and Transport Systems Catapult will work with Michigan centres such as driverless car test grounds the American Center of Mobility and MCity. “We have to understand it it’s not about…
- New rivals to Grab emerge in Southeast Asia after Uber merger – Nikkei:
- US fund managers brace for trade war with focus on pricing power – Reuters: O), for example, because the firm’s chips are used in high-end, high-demand products such as iPhones and self-driving cars. Shares of the company are flat for the year after its most recent earnings report failed to beat Wall Street estimates for the…
- TCS shares hit record, touches $100 billion in market cap – Reuters: Tata Consultancy Services Ltd, India’s biggest software services exporter, breached the 3,500 rupee ($52.87) per share mark on Monday for the first time, reaching $100 billion in market capitalisation.
- Ferrari Quietly-Very Quietly-Tests Electric Car – Bloomberg: A video posted on YouTube last month shows a car at the Ferrari track making no sound as it accelerates from a full stop. While Ferrari has no plans to produce a full-electric car before 2022, the company is developing vehicles that will show “the full…
- Toyota restores a Sports 800 racer – Autocar:
- Long-delayed Mitsubishi jet ready for first air show – Nikkei:
- Hydrogen superior to battery-electric vehicles, says Hyundai Canada CEO – Automotive News: Hydrogen-powered electric vehicles appear poised to overtake battery-powered EVs as consumers’ green car of choice, Hyundai Canada CEO Don Romano said. Romano, speaking to Automotive News Canada, said that hydrogen EVs could ultimately prove to be more…
- Are Tesla’s days numbered? – Automotive News: I’ve watched the rise of Tesla and its leader, Elon Musk, with great interest, and now I’m watching the travails of Tesla. What we are seeing is the downward spiral of the company that is coming face-to-face with the real world. Tesla was a great…
- Flexdrive: Independent dealers get tools to build subscription revenue – Automotive News: Light sells 200 used cars a month at retail and wholesale. Still, he said subscriptions are critical to profits today and in the future. “There are consumers who don’t want to be strapped into a three-year lease or a 72-month loan,” said Light. “That’s…
- Florida dealership cafes taste like success – Automotive News: When Morgan Auto Group purchased Brandon Honda in Tampa, Fla., in 2007, investing in a full-service cafe was a success. So much so that in 2016, the group bought Sun Toyota in Holiday, Fla., and allocated space for another one. Under the guidance of…
- Calif. bill would add some muscle to franchise laws – Automotive News: This provision appears to be a response to Lynk & CO and Genesis. It specifies that a dealer who sold a vehicle to a customer can continue to provide service, parts and accessories for the vehicle as long as the dealer maintains the same franchise. It…
- Mercedes previewing Maybach SUV – Automotive News: Mercedes will preview a potential SUV rival to the Bentley Bentayga and upcoming Rolls-Royce Cullinan with the Vision … If the Ultimate Luxury concept goes into production, it would be the second SUV from Daimler’s ultra-premium car line, which…
- GM electrics debut in Beijing – Automotive News: The Velite 6 EV, GM says, will use a “new-generation pure electric drive system,” while the plug-in hybrid will feature an electronically controlled … “eMotion electric propulsion technology” that has four electric drive wheels arranged in front and…
- FlexWheels: Ready-made dealer platform – Automotive News: It carries mostly luxury makes, so FlexWheels caters to a high-end clientele who can afford to pay the $1,200, $2,000 or $2,800 per month – prices drop slightly with a six- or 12-month commitment – for packages that let them flip between vehicles from…
- Honda sweetens Accord leases, a little – Automotive News: Accord sales have been down for months, and dealers have pointed to a lack of competitive lease offers as one reason why the redesigned sedan is struggling to keep pace with the updated Toyota Camry. Honda had been pushing a national lease offer with a…
- Self-driving bill faces unclear path in Senate – Detroitnews: Gary Peters that would allow automakers to sell more than 80,000 self-driving cars each per year faces an uncertain path after a pair of high-profile crashes involving self-driving cars in Arizona and California have emboldened critics of the…
- Mercedes-Benz Japan Opens New Showroom With Enhanced IT Experience – Japanautomotivedaily: Mercedes-Benz Japan Co. Ltd. has opened a new showroom on April 21 in Nishi-Shinjuku, Tokyo, featuring MRA 2020 – German-based []
- TEPCO Utilizes Self-Driving Electric Buses at Fukushima Nuclear Plant – Japanautomotivedaily: Tokyo Electric Power Company Holdings Inc. (TYO:9501), also known as TEPCO, began on April 18 using self-driving electric vehicle (EV) []
- 3 Porsche Korea officials indicted over doctoring gas emissions certification documents – Yonhap: Three officials of the South Korean unit of Porsche AG have been indicted for doctoring documents required for the local government’s certification in relation to gas emissions, prosecutors said Monday. The Seoul Central District Prosecutors’ Office…
- Why are tens of thousands of Americans still driving around with explosive devices in their cars? – Washington Post: Ten years after the biggest safety recall in U.S. history began, Honda says there are more than 60,000 vehicles on the nation’s roads equipped with what experts have called a “ticking time bomb” – defective air bags like the one that killed Brangman….
- Australian regulator flags scrutiny of Uber Eats – Reuters: The head of Australia’s competition regulator said on Monday it will scrutinise contracts between Uber Technologies Inc [UBER.UL] and restaurants that use its food delivery app Uber Eats.
