- `Villain’ Uber Makes Progress in Bid to Appease London Regulator – Bloomberg: The transport authority’s list of concerns with Uber has more than halved to 11 from 25 after it committed to governance changes and apologized for setting up hostile software, a lawyer for the ride-hailing app said at a hearing Monday. The trial to…
- Burning Cash, Living Free and a Pot Crisis – Bloomberg: (Washington Post); Tesla Doesn’t Burn Fuel, It Burns Cash: A complete guide to how Elon Musk has raised, and then spent, billions of dollars. (Bloomberg); Value Should Do Better. But When Is Anybody’s Guess (MoneyBeat); How to Live in San Francisco…
- Tesla Is Burning $6500 Every Minute. It’s Probably Going to Need to Raise a Lot More – Fortune: At the beginning of April, Tesla founder and CEO Elon Musk joked about the company going bankrupt, but it appears that such a seemingly unlikely outcome is no laughing matter. There is now a “genuine risk” that the electric car company won’t have …
- Roush offers ‘incredibly intimidating’ off-road Ford F-250 Super Duty – Freep: Roush Engineering launches off-road performance version of Ford F-250 pickup.
- Didi Chuxing, Volkswagen to Unveil Ride-Hailing Joint Venture – WSJ: The deal, which could be announced next Monday, is the first step in what could become a broader alliance between the world’s biggest auto maker by sales and the global leader in ride-hailing, as China races to get ahead in new mobility services such…
- BRIEF-Alliance Resource Partners Reports Quarterly Revenue $457.1 Mln – Reuters: * ALLIANCE RESOURCE PARTNERS, L.P. REPORTS INCREASES TO NET INCOME ATTRIBUTABLE TO ARLP AND EBITDA OF 48.6% AND 28.7%, RESPECTIVELY; RAISES QUARTERLY CASH DISTRIBUTION 1.0% TO $0.515 PER UNIT; AND INCREASES GUIDANCE
- India’s Kotak Mahindra Bank fourth-quarter profit up 15 percent on lending growth – Reuters: India’s Kotak Mahindra Bank Ltd reported a 15 percent rise in fourth-quarter net profit on higher interest and fee incomes and as its bad loans fell.
- Exclusive: U.S. EPA grants biofuels waiver to billionaire Icahn’s oil refinery – sources – Reuters: The U.S. Environmental Protection Agency has granted a financial hardship waiver to an oil refinery owned by billionaire Carl Icahn, a former adviser to President Donald Trump, exempting the Oklahoma facility from requirements under a federal biofuels…
- Exclusive: Volkswagen in talks to manage Didi fleet, co-develop self-driving cars – Reuters: Volkswagen AG , the world’s biggest automaker, is in talks to form a joint venture with China’s Didi Chuxing to manage part of the ride-hailing company’s fleet of cars and help develop “purpose-built” vehicles for Didi’s services.
- Volkswagen’s Seat brand to hire 250 more staff at Spanish plant – Reuters: Volkswagen’s (VOWG_p.DE) Spanish division Seat on … Seat, which returned to profit in 2016 for the first time in about a decade, has recently expanded capacity at the Martorell factory to 2,400 cars per day from 2,300 to service growing demand for…
- Exclusive – Volkswagen in talks to manage Didi fleet, co-develop self-driving cars – Reuters: REUTERS/Kim Kyung-Hoon/File Photo. Didi has said it formed the alliance to collaborate on, among other things, eventually developing cars purpose-built for its services. For instance, as many as 80 percent of Didi customers ride alone and don’t need a…
- VW’s Seat brand to hire 250 more staff at Spanish plant – Reuters: Volkswagen’s Spanish division Seat on Monday said it would hire 250 more workers at its plant near Barcelona to respond … Seat, which returned to profit in 2016 for the first time in about a decade, has recently expanded capacity at the Martorell…
- Ex-Opel CEO Neumann will join California-based EV startup – Automotive News: Former Opel CEO Karl-Thomas Neumann will join former BMW finance chief Stefan Krause’s U.S. electric-car startup Evelozcity. Neumann, who is reported to be investing in the startup, will oversee mobility concepts including connected-car technology,…
- Uber drivers, feeling squeezed, plan to protest proposed regulations in NYC – Washington Post: Uber drivers will hit the streets of New York City early Monday but not just to ferry passengers around. The Independent Drivers Guild, a union-sanctioned organization that represents thousands of ride-hailing drivers for Uber and Lyft, is planning a…
- Skoda will shift some SUV production to Germany – Automotive News: Volkswagen Group’s Skoda brand will build Karoq SUVs in a VW plant in Germany to ease overcapacity in its factories in the Czech Republic. VW’s plant in Osnabruek, northwest Germany, will build the compact SUV starting at the end of this year and…
- Land Rover to mark 70th birthday with online celebration – Autocar:
- BMW may get 18.75 million euros in Czech public aid for test centre – Reuters: Car maker BMW (BMWG.DE) may get public aid worth 18.75 million euros (16.5 million pounds) to build a test centre for self-driving and electric vehicles in the Czech Republic under a memorandum approved by the Czech government on Monday, a government…
- BRIEF-Avis Budget Brings Connected Cars To Europe With Groupe PSA Partnership – Reuters: * AVIS BUDGET GROUP BRINGS CONNECTED CARS TO EUROPE WITH GROUPE PSA PARTNERSHIP
- Porsche 718 Boxster Spyder: 911 GT3 flat six to power featherweight variant – Autocar: Lightened drop-top will swap turbo four power for the high-revving unit of its sibling Porsche is developing the most driver-focused version of its current 718 Boxster with the naturally aspirated, flat six engine of the latest 911 GT3, instead of a…
- A man who put a Tesla in autopilot then moved to the passenger seat is banned from driving – CNBC: The local police force in Hertfordshire, a county to the north-west of London, said that Patel admitted to officers that he knew his actions were “silly” but that the Tesla was capable of something “amazing”..The offender added that he was just the …
- BRIEF-BMW to Get EUR 18.75 mln public aid to Czech testing centre – Ctk Agency – Reuters: BRIEF-BMW to Get EUR 18.75 mln public aid to Czech testing centre – Ctk Agency. Reuters Staff. 1 Min Read. April 30 (Reuters) – Bayerische Motoren Werke AG: * BMW TO GET EUR 18.75 MILLION PUBLIC AID TO BUILD TEST CENTRE IN CZECH REPUBLIC – CTK AGENCY…
- GM Going Dark on Monthly Sales Won’t Stop Reporting Shenanigans – Bloomberg: The automakers padded their numbers by coaxing retailers into purchasing cars for their own demo and rental fleets. … Antics of the sort BMW and Nissan were engaged in became part of auto sales after GM’s legendary leader Alfred Sloan pioneered the…
- Google Takes Aim at Engineer Left Untouched by Suit Against Uber – Bloomberg: He’s fighting Google’s claims that he breached his contract as one of the leaders of its autonomous vehicle unit, now called Waymo, by recruiting from its ranks for … Levandowski became head of Uber’s self-driving project, but was demoted, and…
- BMW 8 Series: engineers develop coupe’s chassis dynamics on Welsh roads – Autocar: BMW has confirmed it is using the B-roads of Wales to fine tune the chassis settings of its hotly anticipated 8 Series. Ahead of its reveal at the 24 Hours of Le Mans on 15 June, the car’s dynamics are being evaluated and finalised to produce what the…
- As Doug Ford rises in Canada’s conservative party the Trump comparisons are aplenty – Guardian: In Ontario, Ford’s main opponent has seized on the Trump comparison, hoping to capitalise on the US politician’s dismal popularity in Canada. “Doug Ford sounds like Donald Trump, and that’s because he is like Donald Trump,” Kathleen Wynne, Ontario’s…
- Pentagon to Beat Uber, Tesla in Race Over Self-Driving Vehicles – Bloomberg: Technology and auto companies including Alphabet Inc.’s Waymo unit and General Motors Co. are racing to develop autonomous vehicles to deploy in ride-hailing fleets. Uber Technologies Inc. has introduced self-driving trucks to U.S. highways on a trial …
- Elliott sticks to holding firm idea for Hyundai, hails stock cancellation – Yonhap: Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., on Monday stuck to its holding company proposal for Hyundai Motor Group, welcoming the carmaker’s latest treasury stock cancellation plan. Elliott reiterated its call…
- New Season Starts at Spa for TOYOTA GAZOO Racing – Toyota: TOYOTA GAZOO Racing gets the 2018-19 FIA World Endurance Championship (WEC) season started this week with the Total 6 Hours of Spa-Francorchamps in Belgium.
- Ford UK boss: no hot ST SUVs will come to Europe – Autocar: Ford Edge ST The US market is getting a 330bhp Edge ST, but we won’t be seeing it in the UK Ford will not launch high-performance ST-badged SUVs in Europe, reasoning that it won”t deliver what customers want from such cars, according to UK boss Andy…
- That Rattling? It’s Elliott at Korea’s Gates – Bloomberg: Hyundai Motor is taking the hint. Elliott’s demands there have been similar – raise dividends, scrap treasury shareholdings and simplify the corporate structure. Hyundai has so far obliged by promising a higher payout and canceling around $900 million…
- Hopes are high for US-North Korea summit to flesh out details of denuclearization – CNBC: … meeting does go ahead, “that means they basically have some kind of agreement in place” regardless of how vague such a deal may be, Gilholm told CNBC’s Chery Kang. “Even for it to take place, I think there has to be some kind of positive outcome…
- Tesla Doesn’t Burn Fuel, It Burns Cash – Bloomberg: https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcQ4Mf5T8dZUJuE8sWWhepTE5Y2JNVIYM7i6UKJiv-WZ_gOyheOorkI5X-iEmH6CkTfE1-e-mAGRwgTesla Doesn’t Burn Fuel, It Burns Cash BloombergFull coverage
- Execs to discuss mobility at Europe congress – Automotive News: Speakers from Nissan Europe, Seat, Airbus and EY will take part in a panel discussion on current and future mobility June 6 at the Automotive News Europe Congress in Turin. Panelists include Ponz Pandikuthira, vice president for product planning at…
- Barra is one of the greats, Fortune says – Automotive News: In her four-plus years as General Motors CEO, Mary Barra has turned up on many lists of powerful and accomplished business leaders. But her lofty rank on Fortune magazine’s list of The World’s 50 Greatest Leaders is impressive new territory. Barra was…
- Biggest Indian Cargo Company Wants to Build an Uber for Shipping – Bloomberg: ECU Worldwide is a traditional non-vessel operating common carrier, where the company does not own a ship but owns slots for cargo, a business model similar to Uber and other ride hailing companies. After Uber’s strikingly high valuation, companies are…
- VW Canada CEO focused on future now that diesel scandal is ‘history’ – Automotive News: An Ontario Superior Court judge on April 18 approved a settlement worth up to $290.5 million with about 20,000 owners of 3.0-litre VW, Audi and Porsche diesel vehicles in Canada affected by Volkswagen AG’s diesel emissions-cheating scandal. A 2.0-litre…
- BRIEF-Nissan Motor says change of business transfer and unit selling – Reuters: Nissan Motor Co Ltd. * Says the transaction between the co and GSR Electric Vehicle(UK) Holding Limited will be postponed to June 29. * Says business transfer between the co and Automotive Energy Supply Corporation is suspended. * Previous news was…
- GM positions OnStar as revenue centre, brand builder – Automotive News: General Motors is reorienting its OnStar business, using the brand name mainly to market safety and security services, while using its sprawling data collection and connectivity operations to bolster the value of its core auto brands. The changes -…
- Have they gone crazy on EVs? – Automotive News: Except in China, where government rules and objectives are easier to implement and enforce, electric vehicles seem to be headed for a disastrous conclusion. Car companies continue to increase their commitment to EVs at a very substantial investment….
- DMS vendors are entering a new era of competition – Automotive News: https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQfyxrKu4NVPIc1yLzc7l0pUaQBlbNcoTXPdnsYF7nraKK-huoy29UV6ZCryuL-aJLzA0f5-fSOIADMS vendors are entering a new era of competition Automotive News (blog)Full coverage
- A luxury roller-coaster ride – Automotive News: By 2022, Hyundai’s Genesis brand should be sitting pretty, executives say, with a fully developed independent dealer network, a portfolio of at least six vehicles split among sedans, coupes and crossovers and annual U.S. sales of about 100,000. That’s…
- Pickup downtime hits GM earnings – Automotive News: General Motors’ net income and operating profit sank in the first quarter because of reduced full-size pickup production, a restructuring in Korea and other costs. Earnings before interest and taxes declined 27 percent to $2.6 billion. Net income…
- Forecasts need a dose of practicality – Automotive News: Likewise, when General Motors purchased Hughes Aircraft in 1985, Hughes brought advanced aero technology that could be introduced into vehicles, such as rear vision and head-up display. Unfortunately, the timing was not right, and there were increased…
- Tech giants put China at forefront of change – Automotive News: Last year, Baidu boss Robin Li triggered an uproar by testing his company’s self-driving car on Beijing’s roads. The country realized it had no rules for that and has swiftly moved to issue proper licenses and promote such tests. And the Chinese…
- Flying, Stephenson-style – Automotive News: Designer Frank Stephenson, famous for such diverse hits as the modern Mini, Fiat 500 and McLaren P1, is ready for the next stage of his high-flying career. Lilium, a German startup with ambitions to put electric flying taxis in the air next decade, has…
- Execs see partnership perks even as China opens market – Automotive News: Audi and Nissan executives were among those saying the status quo still works. “We’ll maintain the joint venture structure as it is today,” Audi CEO Rupert Stadler said of the partnership Volkswagen and Audi have with China FAW Group Corp. “For us, it…
- Great potential for Falotico at Lincoln – Automotive News: Ford built a V-12 engine for Aston Martin, and Edsel Ford once specified V-12 engines exclusively for Lincolns. I’d re-buy a token interest in Aston Martin and commission it to build a one-off car, a 2+2 V-12 Lincoln convertible, jointly designed with…
- Morning News Call – India, April 30 – Reuters: To join the conversation, click on the link: here INDIA TOP NEWS Maruti Suzuki India’s profit misses estimate on tax expense, shares drop Maruti Suzuki India, whose iconic ‘Maruti 800’ helped popularise cars in India, posted a 10 percent rise in…
- BYD slips to 7-month low on poor first-half outlook – FT: BYD, the Warren Buffett-backed Chinese electric vehicle maker, fell to a seven-month low on Monday after the company said it expects net profit to tumble by as much as 83 per cent in the first half of the year due to reduction of subsidies. BYD said it…
- GM CFO says S. Korean unit to turn around next year – Yonhap: General Motors Co.’s Chief Financial Officer Chuck Stevens said the agreement reached last week by the carmaker’s South Korean unit will lay the foundation for a turnaround next year, GM Korea Co. said Monday. In a conference call to talk about its…
- War hero, 99, saved from raging house fire – Yahoo: The RSL has reached out to Bob and will help find him emergency accommodation and provide any other support, RSL Queensland’s veterans services manager Robert Skoda told AAP. “We can hopefully rebuild his life around him,” he said. Neighbours are…
- Only one in 10 listed firms in S. Korea adopt cumulative voting – Yonhap: U.S. activist fund Elliott Management has demanded Hyundai Motor Co. and its two affiliates remove a clause that makes it possible for the three firms to avoid a cumulative voting system, according to an industry source. Elliott Management, which…
- Seven Jobs Robots Will Create-or Expand – WSJ: Companies such as self-driving-car developers and large tech firms can have “hundreds and hundreds of folks, sometimes even more, sitting and labeling data,” says McKinsey’s Mr. Miremadi. Sometimes the data being labeled is fairly simple. At Cobalt,…
- What Exactly Is Artificial Intelligence, Anyway? – WSJ: Auto makers are conceiving self-driving vehicles to ferry people to their destinations, then park or carry other passengers until pickup time. Lights and thermostats can connect to your smartphone’s location sensors, so your home can go to sleep when…
- Digital Assistants Start to Get More Human – WSJ: “We’re going to spend more of our time interacting with automated systems like robots and self-driving cars,” says Greg Cross, co-founder of Soul Machines Ltd., the New Zealand company that developed AVA’s face, voice and emotional IQ. “Our view is…