- Volkswagen to invest $18bn in China by 2022 – Nikkei:
- 2018 Volkswagen Lavida to capitalise on China’s continuing love for saloons – Autocar: New version of the country”s best-selling three-box model sits on MQB underpinnings
- Didi Chuxing launches plan to turn car owners to car users – FT: Didi Chuxing, China’s international challenger to Uber, has announced it is designing autonomous and new-energy cars with an alliance of 31 partners with the aim of turning global car owners into car users. Partners in the Didi Auto Alliance include…
- Mercedes-Benz A-Class Saloon unveiled as Audi A3 Saloon competitor – Autocar: The new Mercedes-Benz model is aimed squarely at the Audi A3 saloon Saloon version of latest A-Class will arrive on roads in Britain later this year
- Amazon Starts Delivering Goods to GM, Volvo Trunks in the US – Bloomberg: The app-based service, which lets car owners provide delivery agents with keyless access to trunks, is an example of how Amazon is exploring new methods of delivering goods to customers. It also follows moves by competitors to get their technology into…
- Lilium flying taxi to be designed by McLaren P1 designer – Autocar: Renowned designer Frank Stephenson has been hired to work on a new electric flying car that”s due to go into service in 2025
- China ride-hailing giant Didi eyes purpose-built fleet as auto market shifts – Reuters: China’s Didi Chuxing, already disrupting the global ride-hailing market and taking on U.S. rival Uber, has its sights set on an even bigger potential prize: designing and getting built its own dedicated fleet of Didi cars.
- Volvo rolls out in-car deliveries with Amazon – FT: Volvo, whose US plant in South Carolina opens this year, is trying to grow its presence in a market dominated by not only native luxury players Lincoln, Cadillac and Chrysler but German brands BMW, Mercedes and Audi as well as Toyota’s Lexus, Nissan’s…
- Volvo, Amazon launch in-car delivery service – Automotive News: The same idea will be applied to Volvo owners who download the Amazon app and link their Amazon Prime account with their Volvo On Call account. After the setup is complete and a delivery location is registered, customers can shop on Amazon.com and…
- Analysis: GM Korea averts bankruptcy but how long will it stay? – Reuters: General Motors’ South Korean unit has averted a bankruptcy filing, but analysts and customers, as well as the South Korean government, are debating how long the loss-making company will remain in business.
- GM Korea averts bankruptcy but how long will it stay? – Reuters: General Motors’ South Korean unit has averted a bankruptcy filing, but analysts and customers, as well as the South Korean government, are debating how long the loss-making company will remain in business.
- VW’s Chinese Ventures Plan $18 Billion in Technology Spending – Bloomberg: … for the electric-auto era. The world’s biggest automaker outlined a 34 billion-euro investment plan in November to develop new technology by 2022. Projects include coming out with electric versions of all 300 cars, trucks and buses in its line-up…
- VW sales momentum positive in all regions, says CEO – Reuters: Operating profit at Europe’s largest automotive group is expected to have risen by 2.3 percent in the first three months of the year to 4.47 billion euros ($5.45 billion) and is seen expanding by 7.3 percent this year to 18.3 billion euros, a Reuters…
- Indonesia’s Astra Q1 profit falls 2 pct amid lower auto sales – Reuters: Indonesian conglomerate PT Astra International Tbk posted a 2 percent decline in first-quarter net profit amid lower automotive sales, the company said. Astra’s net profit for the quarter fell to 4.98 trillion rupiah ($358.66 million) from 5.08…
- Opinion: Maybach’s SUV concept reminds us how different Chinese tastes are – Autocar: The new Maybach concept China is the world’s biggest new car market, so it’s having a profound effect on the world of design
- Modi may need an alliance to rule Karnataka, poll shows – Reuters: Gains by India’s ruling party in the Karnataka assembly election next month will fall short of a majority, an opinion poll showed, potentially forcing it to seek an alliance to end the rule of the main opposition Congress party in its last big state.
- Elliott’s New Korean Target May Prove Willing – WSJ: U.S. activist investor Elliott Management has struck again in South Korea. It may not get everything it asks for this time, but it could still generate some good returns. The $35 billion hedge fund, run by Paul Singer, has published its proposal to…
- Indonesia’s Astra Q1 net profit down 2 pct amid lower auto sales – Reuters: Indonesian conglomerate PT Astra International Tbk posted a 2 percent decline in first-quarter net profit amid lower automotive sales, the company said in a statement. Astra’s net profit for the quarter fell to 4.98 trillion rupiah ($358.66 million)…
- Pickup Trucks Push Bull Case for Indonesia Stocks at UBS Wealth – Bloomberg: The total number of trucks sold in Indonesia grew to a 30-month high in March, as sales have more than doubled from a bottom in July 2016, UBS said, citing data from the country’s Automotive Industry Association. The smaller trucks — those that can…
- Chinese Uber competitor Didi Chuxing reportedly in talks to launch $80 billion IPO – CNBC: Didi Chuxing was last valued at more than $50 billion, after raising $4 billion from investors including Japanese conglomerate SoftBank.
- The man behind iconic Ferrari and Mini designs is now making flying cars ready for flight in 2025 – CNBC: Lilium, a German electric flying car start-up, has hired designer Frank Stephenson to help bring the science fiction idea to reality.
- Skoda aims Kamiq at China’s booming SUV market – Automotive News: Skoda said it has loaded the Kamiq with connectivity features to attract “young, urban customers “who wish to maintain their digital lifestyle” while they are in the vehicle. It has an 8-inch touchscreen infotainment system that runs China’s iFlytek…
- Volkswagen CEO says China tax hike on US vehicle imports would sting – Reuters: Volkswagen AG’s (VOWG_p.DE) chief executive Herbert Diess said on Tuesday that a Chinese tariff hike on U.S vehicle imports would be tough for the firm, amid a brewing trade war and threats of punitive tariffs exchanged between Washington and Beijing….
- Ford Changed Leaders, Looking for a Lift. It’s Still Looking. – New York Times: When Jim Hackett took over as chief executive of Ford Motor, he was charged with revitalizing a company suffering from slumping profits, rising costs and an uncertain outlook. In the 11 months since then, Mr. Hackett has shuffled Ford’s executive ranks…
- In This Space Race, Jeff Bezos and Elon Musk Are Competing to Take You There – New York Times: The space agency knew there was a natural customer: Elon Musk, the cheeky PayPal co-founder and Tesla creator whose SpaceX venture had become the first private rocket company to launch into orbit with a payload. Musk’s mesmerizing style – skittering on…
- Mercedes-Maybach is betting on a hybrid SUV-sedan look – Automotive News: Mercedes-Benz is betting on a hybrid SUV-sedan look to attract wealthy Chinese buyers to its Maybach ultraluxury model line. The Vision Mercedes-Maybach Ultimate Luxury concept unveiled at the Beijing auto show on Tuesday previews a high-end SUV that…
- Hyundai vice chief to check latest market trends at Beijing motor show – Yonhap: Hyundai Motor Co. said Tuesday that Vice Chairman Chung Eui-sun plans to check new market trends and vehicles made by rival carmakers at the upcoming Beijing Motor Show. The company said Chung met with executives from Beijing Hyundai Motor Co. and its…
- VW’s sales momentum positive in all regions -CEO – Reuters: Volkswagen Group is on track for profitable growth this year thanks to positive sales momentum at the start of 2018, the carmaker’s top executive said on Tuesday. We had a very positive start into 2018, group Chief Executive Herbert Diess said at the…
- Softbank, Google join $1.9 billion investment in China truck-hailing firm – Reuters: Japan’s Softbank Group and Alphabet Inc’s venture capital fund CapitalG are among investors pouring $1.9 billion into a truck hailing service platform Manbang, the Chinese company said in a statement on Tuesday.
- Japan Wants Robots to Help Build Its Skyscrapers – Bloomberg: Shimizu’s Robo-Carrier automated forklift is equipped with laser rangefinders to navigate environments, not unlike the technology used in self-driving cars. The machine was able to safely maneuver in a room full of reporters and TV cameras during a…
- Volkswagen’s new CEO: We’ve no plans yet to go it alone in China – CNBC: Volkswagen’s new CEO says the company has no plans yet to go it alone in China, but he sees opportunities ahead.
- Truck maker Volvo rides demand boom but supply chain under pressure – Reuters: For Geely Chairman Li Shufu, whose Zhejiang Geely Holding already owns Swedish automaker Volvo Car Group, the deals seem intended to drive cooperation between companies in which it is an owner, though what it means in practice remains in doubt. Our…
- Tantrums and Tellings-Off at Korea’s Chaebol – Bloomberg: Elliott Management Corp., the activist fund headed by billionaire Paul Singer, earlier this month revealed it had acquired more than $1 billion in stakes of three group units — Hyundai Motor Co., Kia Motors Corp. and parts maker Hyundai Mobis Co. It…
- Buffett-Backed Carmaker Gets More Wall Street Love Than Tesla – Bloomberg: Warren Buffett-backed Chinese electric carmaker BYD Co. has seen its Hong Kong-traded shares slide by 14.5 percent this year but that hasn’t shaken analyst confidence. A majority of the 27 analysts who cover the company remain bullish, with 18…
- Booming demand but strained supplies for heavy vehicle maker Volvo – FT: Heavy vehicle maker AB Volvo has reported robust sales and profits, while warning that booming demand for its trucks and diggers has put its supply chain under pressure and raised its costs. The group notched up better than expected profits in the…
- PSA first-quarter sales jump 42 percent on Opel-Vauxhall acquisition – Reuters: The group made little progress in reversing its sustained China sales collapse of recent years, with first-quarter registrations up 1.8 percent in the world’s biggest auto market. It will take some time to change the fundamentals of sales and marketing…
- Ford will offer Focus with fuel-saving 48-volt hybrid system – Automotive News: Ford said it will introduce a 48-volt mild-hybrid version of its latest Focus compact car in Europe in 2020. Mild-hybrid systems improve fuel economy by supplementing a combustion engine with a burst of electric power under acceleration. Ford will…
- Grab-Uber deal tests Southeast Asian antitrust watchdogs – Nikkei:
- Autocar confidential: Lynk&Co’s strategy, Toyota Supra, internet sales & more – Autocar: The 2019 Toyota Supra Our reporters empty their notebooks to round up this week’s gossip from across the automotive industry
- Truck maker Volvo first-quarter profit tops forecast – Reuters: Swedish truckmaker AB Volvo (VOLVb.ST) reported a bigger than expected rise in quarterly earnings on Tuesday as strong demand across most major commercial vehicles markets boosted sales and order intake in the first quarter.
- Opel-Vauxhall purchase drives 42% revenue rise for Peugeot owner – FT: Peugeot owner PSA Group saw its first-quarter revenues jump 42 per cent on the back of its acquisition of Opel-Vauxhall last year. The Paris-based company – which bought the Opel and Vauxhall brands from General Motors for €2.2bn and also owns Citroën…
- PSA sales jump 42 percent on Opel-Vauxhall acquisition – Reuters: French automaker PSA Group posted a 42 percent increase in first-quarter revenue, lifted by its acquisition of Opel-Vauxhall last year.
- Nissan and Mitsubishi Motors team up on spare parts warehousing in Japan’s Kanto region – Nissan-global: Nissan Motor Co., Ltd. and Mitsubishi Motors Corp. will jointly use a spare parts warehouse near Tokyo and share a regional delivery network as they work together more closely to reduce costs.The companies will both use Nissan”s Sagamihara Parts…
- Japanese companies — the (adopted) son rises – Nikkei: A high-profile example is Suzuki Motor, the vehicle maker, which has relied extensively on adopted sons for the top job, which is currently held by Osamu Suzuki. Born Osamu Matsuda, he was adopted at the age of 28 by the patriarch Shunzo Suzuki,…
- BRIEF-Renault-Nissan-Mitsubishi joins Didi Chuxing in Didi Auto Alliance – Reuters: … * Renault-Nissan-Mitsubishi announced it is one of the partners of DiDi Auto Alliance (the D-Alliance), which was formed by DiDi Chuxing (‘DiDi’), the top Chinese mobile transportation platform. * The DiDi Auto Alliance is an intelligent…
- France’s Rail Strike Has Boosted Buses and Ride-Sharing – Bloomberg: Automaker PSA Group is temporarily storing new Peugeot 3008 and 308 cars at a former NATO airfield in eastern France because there aren’t enough … for customers yet, though space at the airfield near Belfort has been rented until the end of the…
- GM swaps factories with L”Oreal on energy-savings quest – Detroitnews: General Motors and cosmetics company L”Oreal shared ways to reduce energy use
- Electric car range issue has been solved, says Ghosn – Nikkei:
- Breakingviews – Hyundai agitator gets overly ambitious – Reuters: An insurgency effort at Hyundai is pushing for too much. U.S. hedge-fund titan Elliott Management wants a different sort of restructuring at South Korea’s second-largest chaebol, or family-owned conglomerate. Limitations on financial subsidiaries mean…
- NTN to Provide Chinese Firm With In-Wheel Motor Tech for First-of-its-Kind EV – Japanautomotivedaily: NTN Corp. (TYO:6472) announced on April 19 that it has concluded an agreement with Chinese-based Changchun Fawsn Auto Tech Co. []
- Opinion: UAW part of anti-Tesla campaign – Detroitnews: Such a campaign is currently in full bloom against automaker Tesla, which has been targeted by the United Auto Workers (UAW) union. The UAW spent at least a half-million dollars on its Tesla campaign in 2017; its budget line items covered hotels, paid…
- Ghosn: Electric car range issue has been solved – Nikkei:
- China’s ride-hailing firm Didi wants to develop ‘purpose-built’ cars with automakers – Reuters: Chinese ride-hailing giant Didi Chuxing is exploring ways of collaborating with established automakers and parts suppliers to jointly develop cars purpose-built for its services, the company said on Tuesday.
- Hyundai affiliates climb on Elliott Advisors restructuring plan – FT: The listed subsidiaries of Hyundai Motor Group climbed on Tuesday after activist investor Elliott Advisors called for more more serious reforms at the South Korean conglomerate. Elliot, which declared a $1bn stake in the group and its subsidiaries in…
- Skoda Kamiq officially launches in China – Autocar:
- The car of the future may be electrified and autonomous, but what will it look like? – CNBC: An autonomous driving electric vehicle may one day start to look a bit like The Jetsons’ flying car.
- Why Google’s Stock Price Leapt and Crashed In an Instant – Fortune: But once analysts cut through the complications, the share price dropped back to where it was before the results came out. … For example, Uber sold new shares to SoftBank Group in January in a deal that valued the ride hailing startup at $48 billion,…
- Hyundai SUV sales picking up in China – Yonhap: Hyundai Motor Co. has sold more sport-utility vehicles (SUVs) in China in the first quarter of this year, with such vehicles accounting for 40 percent all sales in the large market, auto industry data showed Tuesday. Hyundai sold 67,167 units of its…
- Breakingviews- Google’s owner starts to look like Alphabet soup – Reuters: Google’s owner Alphabet is starting to look like alphabet soup. The tech group’s $9.4 billion of earnings in the first quarter came with new noise after it adjusted the way it accounts for investments like ride-hailing app Uber, moved some smart-home…
- Alphabet Is Sitting on About $11 Billion in Startup Investments – Bloomberg: A new accounting rule prompted Google parent Alphabet Inc. to disclose the fair value for its private stock holdings in earnings reports starting this year. The figure includes the company’s stake in some of Silicon Valley’s most highly valued private…
- Byton SUV’s on Track for Market in 2019, Co-Founder Says – Bloomberg: China’s Byton is on track to put its premium electric SUVs on market in 2019, says co-founder Carsten Breitfeld. Breitfeld, a former BMW manager spoke exclusively to Bloomberg’s Tom Mackenzie ahead of the Beijing Auto show. Last Friday, the Chinese…
- Electric Buses Are Hurting the Oil Industry – Bloomberg: Electric buses were seen as a joke at an industry conference in Belgium seven years ago when the Chinese manufacturer BYD Co. showed an early model. “Everyone was laughing at BYD for making a toy,” recalled Isbrand Ho, the Shenzhen-based company’s…