Archives for July 2018

• Belgium’s Umicore beats estimate on strong battery materials growth – Reuters: Belgium’s Umicore (UMI. … Demand for electric vehicles is expected to surge in the next decade as governments move to ban petrol and …
• BMW to build 1 billion euro car factory in Hungary – Reuters: BMW said it is investing 1 billion euros ($1.17 bln) in a new car factory in eastern Hungary, a project that could contribute to the country’s growth and strengthen its position as a centre for premium car manufacturing in the region.
• BMW to Expand European Footprint With $1.2 Billion Hungary Plant – Bloomberg:
• Britain’s car industry cautions: No-deal Brexit is our nightmare – Reuters: A no-deal Brexit would seriously damage the car industry in Britain and the European Union by raising costs and sowing chaos for carmakers and consumers alike, the head of Britain’s car industry warned on Tuesday.

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• Taxi strike targeting Uber brings chaos to Spanish cities – Reuters: Spanish taxi drivers blocked major city streets including Barcelona’s Gran Via and Madrid’s Castellana on Monday in a protest to pressure the government to curb licences to online ride-hailing services such as Uber.
• UBS predicts Tesla shares will drop 30% in 12 months as company likely to raise capital – CNBC: UBS reaffirms its sell rating for Tesla shares, predicting the carmaker will report second-quarter earnings per share below expectations.
• Austrian firm launches 1325bhp Milan Red hypercar – Autocar: Limited-run hypercar rejects hybrid power for turbocharged V8 to rival Bugatti Chiron New Austrian company Milan Automotive has revealed its first car, the Red. The hypercar is named after the bird of prey red kite and will have a limited production…
• Vans to be ousted from UK cities in new urban transport plan – Autocar: The Government plan will also eliminate city-centre parking as electric bikes, micro vehicles and others replace conventional urban transport The Government has revealed plans to revolutionise city centre transport, with the aim of eliminating vans…

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• Lamborghini Aventador SVJ confirmed as new ‘Ring lap record holder – Autocar: Range topping Aventador beats Porsche 911 GT2 RS around the Nurburgring with a time of 6 minutes and 44.97 seconds After it leaked out earlier today, Lamborghini has now officially confirmed that the new Aventador Superveloce Jota has become the…
• Daimler to split business into cars, trucks, mobility units – Reuters: Daimler unveiled a new corporate structure on Thursday designed to give its trucks, mobility services and Mercedes-Benz car division greater scope to chase growth in an era when carmakers prepare to launch fleets of autonomous cars.
• Nissan operating profit dives 29% in first quarter – Nikkei:
• Ex-UAW boss Dennis Williams OK’d using training center funds, aide says – Detroitnews: UAW President Dennis Williams told senior officials to use automakers’ funds to pay for union costs, including lavish meals, travel, key witness says.

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• London taxi drivers mull class action suit against Uber – Reuters: London cab drivers are examining the possibility of bringing a class action suit against Uber, their association said on Tuesday, after the mobile app was granted a temporary licence renewal to operate in the British capital.
• BMW manager Duesmann to become new Audi CEO, report says – Automotive News: Audi’s new CEO will be BMW purchasing director Markus Duesmann, German daily Handelsblatt reported on Tuesday. Citing sources close …
• GM’s Maven launches car sharing option in Detroit, Ann Arbor – Detroitnews: The new Maven program works like Airbnb for cars, allowing owners to put their vehicles up for rent.
• RPT-Cost to insure Tesla’s debt rises on growing default fears – Reuters: The amount investors must pay to insure their debt holdings in Tesla Inc against declining credit quality rose on Monday to its second-highest price ever, implying the company is at a greater risk of default following a report that sparked concern that…

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