- As Uber goes public, profitability will be the next challenge – CNBC: Uber is going public at a valuation that could top $90 billion. The ride-hailing company is debuting just weeks after smaller rival Lyft.
- Panasonic flags first profit drop in 8 years, EV battery costs bite – Reuters: Panasonic Corp warned profit this financial year would fall for the first time in eight years as costs to boost battery output rise and it moves to overhaul some businesses amid investor pressure to find new avenues of growth.
- James Dyson: why we`re building an electric car – Autocar: James Dyson first came up with the idea of an electric car in the ’90s Britain”s best-known inventor speaks to Autocar about his reasons behind the maker”s electric car project James Dyson came up with his electric car idea in the 1990s, while…
- German auto suppliers downbeat as trade dispute simmers – Reuters: German automotive suppliers Continental and Bosch do not expect a speedy recovery of the global auto market, as an escalating trade conflict between the United States and China threatens to compound already weak car demand.
- Uber drivers go on strike in London and U.S. ahead of IPO, early protests sparse – Reuters: Uber drivers in London and major U.S. cities held a series of strikes on Wednesday to protest the disparity between gig-economy conditions and the sums that investors are likely to make in Friday’s blockbuster stock market debut.
- Uber to price blockbuster IPO against grim market backdrop – Reuters: Uber Technologies Inc will price its initial public offering on Thursday, the most high-profile U.S. listing since Facebook Inc seven years ago, against a backdrop of turbulent financial markets and the plunging share price of its U.S. rival Lyft Inc.
- Porsche Panamera coupe, cabrio in the works, report says – Automotive News: Porsche is working on coupe and cabriolet versions of the Panamera sedan, to compete with rivals including the BMW 8 series, a report said.
- China investigates truckmaker JAC over pollution control devices – Reuters: Chinese authorities have launched an investigation into JAC on whether it was using unqualified pollution control devices on its truck engines, in the first such …
- Statkraft to expand electric vehicle charging in Germany and Britain – Reuters: Norwegian utility Statkraft plans to expand its electric vehicle charging business in Germany and Britain, its chief executive told Reuters on Thursday, and also expects to snap up some more power plants by the end of 2019.
- SoftBank Group unveils stock split, rakes in $3.8 billion gain on Uber stake – Reuters: Japan’s SoftBank Group Corp announced a stock split while keeping the per-share dividend unchanged for the year, effectively doubling its shareholder payout, as it also reported a $3.8 billion valuation gain on its stake in Uber.
- Mitsubishi Motors switches gears to slower growth in post-Ghosn era – Reuters: Mitsubishi Motors Corp forecast on Thursday a 19 percent fall in operating profit this year as it reins in aggressive growth amid slowing global car demand and charts a new course after the ouster of former chairman Carlos Ghosn.
- Mitsubishi earnings climb on rising sales, cost controls – Automotive News: Despite solid gains for the recent fiscal year, Mitsubishi forecasted that operating profit will decline 19 percent in the new fiscal year while net income will drop 51 percent.
- Canada’s Magna International misses profit estimates, lowers full-year outlook – Reuters: Canadian auto parts maker Magna International Inc on Thursday lowered its 2019 profit forecast, as it expects higher costs on certain programs and lower earnings from a transmission joint venture in China.
- Lawsuit: Ford hid Focus, Fiesta transmission problems – then blamed customers – Freep: A class-action lawsuit representing 1.9 million Ford Fiesta and Focus owners has Ford on the hook for tens of millions if not billions in penalties.
- FOCUS-China to bid on D.C. Metro rail deal as national security hawks circle – Reuters: China’s CRRC plans to bid on a big Washington D.C. subway project as it doubles down on a charm campaign in the United States to quash a rising chorus of critics who have cast the rail car maker as a threat to cyber security and U.S. industry.
- Audi Sales Slump Puts Pressure on CEO to Deliver Turnaround – Bloomberg: Volkswagen AG’s Audi suffered a 13% slide in April sales, adding urgency to a plan to reignite momentum due to later this month from the luxury brand’s new …
- Mitsubishi Motors CEO says not discussed integration with Nissan, Renault – Reuters: .comMitsubishi Motors CEO Osamu Masuko said on Thursday his company had not discussed a possible management integration with Nissan Motor and Renault.
- Tesla`s Battery Supplier Forecasts Drop in Earnings, Sales – Bloomberg: Panasonic Corp., the Japanese company that makes the batteries that power Tesla Inc.’s electric vehicles, predicted falling annual earnings on restructuring …
- Continental powertrain IPO could be delayed further after profit slides – Reuters: German automotive supplier Continental’s spin-off of its powertrain division will depend on a recovery of the auto …
- Mitsubishi calls for plug-in hybrid grant to be reinstated – Autocar: Surveys show 25% of Outlander PHEV owners would buy a pure electric vehicle next Mitsubishi is leading calls for the UK government to revive its axed financial incentive scheme for buyers of plug-in hybrid vehicles. The Japanese car maker says that UK…
- Mazda’s profits tumble 43% on foreign exchange, lower sales, dealer outlays – Automotive News: In announcing the lower earnings results, CEO Akira Marumoto outlined a new mid-term business plan that targets lifting operating profit margin to a sustainable 5 percent by the fiscal year ending March 31, 2025
- Trump’s China Push Gets Caught Between Two Rival Chucks – Bloomberg: An initial pause in the trade wars negotiated by Treasury Secretary Steven Mnuchin … within days that led to the ramping up of tariffs on Chinese imports. … been leading opposition to Trump’s threat to impose tariffs on auto imports, …
- Here’s the autonomous robot Ford built. It’s one of the company’s newest employees at a factory in Spain – CNBC: The Ford Motor manufacturing plant in Valencia, Spain has a new delivery employee – an autonomous robot named “Survival.”
- The answer to Uber’s profit challenge? It may lie in its trove of data – Reuters: Over the past two years, Uber Chief Executive Dara Khosrowshahi has used his peace-making and political skills to settle battles with lawmakers and rivals and endear himself to employees who had suffered through a wretched period of corporate scandal.
- Daimler’s Zetsche says his successor will have tough job – Automotive News: Daimler’s next CEO will have a tough job to restore margins at Mercedes-Benz, current boss Dieter Zetsche said, as Mercedes launched a …
- VW’s new electric model takes battle to Tesla – Reuters: .comVolkswagen is now taking customer deposits for the first model in its new family of electric vehicles, and the German giant has Tesla squarely in its sights.
- Limited Run Porsche 911 Speedster Is Now Ready for Order – Yahoo: Porsche launched a new 911 Speedster at last month’s New York International Auto Show, and is currently accepting orders for the car, which has a …
- Emissions data scandal sparks health concerns in South Korea – Nikkei:
- Alliance Ventures focuses on disruptive technology through new partnership with Plug and Play China – Nissan-global: Three-year agreement will expand Alliance Ventures” reach in China and provide Plug and Play start-ups with access to the world”s largest automotive alliancePartnership will add to Alliance Ventures” efforts to remain at the cutting edge of…
- Gloom Spreads Across Steel as Car Woes and Trade Tensions Bite – Bloomberg: The world’s biggest steelmakers are bracing for tough year as trade disputes and weakening automotive demand cast a chill over the sector.
- Zetsche says his successor will have tough job – Automotive News: Daimler’s next CEO will have a tough job to restore margins at Mercedes, current boss Dieter Zetsche said, as the automaker launched the EQC electric …
- Chinese People More Willing to Embrace Self-Driving Future Than Americans – Bloomberg: Chinese authorities have ambitious goals for the roll out of autonomous vehicles in the country. The Ministry of Industry and Information Technology …
- Chinese tech firms’ search for growth seen boosting costs in March quarter – Reuters: Three of China’s biggest tech companies are … intelligence used in applications including self-driving cars – is expected to …
- Toyota Opens R&D Facility with 5.3-Km Road Course – Yahoo: Commemorating the completion of the new facility, Toyota President Akio Toyoda made the following statement: “With the aim of making ever-better …
- Property group Agile expands into new energy vehicles with We Solutions – Yahoo: Property group Agile expands into new energy vehicles with We Solutions … in the electric vehicle (EV) technology company’s enlarged share base.
- Toyota and Panasonic to merge housing businesses – Nikkei:
- Laptop in Lebanon helped Tokyo prosecutors charge Carlos Ghosn – FT: Without the laptop, said two of the people, neither Nissan nor the Japanese prosecutors would have been able to show how millions of dollars of …
- AAA study finds Americans warm to electric vehicles, but most aren’t ready to buy – at least not yet – CNBC: Public interest may be growing, but only four in 10 people believe that the majority of vehicles will be electric by 2029, AAA found.
- Barely One in Six Americans Likely to Buy an EV Next Time They’re in the Market – Detroit Bureau: Less than one in six Americans say they’d give serious consideration to buying an all-electric vehicle next time they’re in the market for a new car, …
- The Bill & Melinda Gates Foundation Trust Sold Millions in AutoNation Stock – Barrons: The Bill & Melinda Gates Foundation Trust, which administers the assets of the eponymous foundation, has sold a large block of AutoNation stock …
- Honda Motor (7267-JT) – Towards 2-Year Low at 2417 Yen – Yahoo: Honda Motor posted FY operating income dropped 12.9% to 726.37B yen, citing abrupt changes in the global business environment surrounding the …
- Uber’s Long Road to an IPO Is Ending at a Less-Than-Ideal Moment – Bloomberg: Ride-hailing giant Uber Technologies Inc. is due to price shares in its … The stock closed 26% below the IPO price of $72, valuing Lyft at just $15.1 …
- Toyota, Panasonic to set up company for ‘connected’ homes – Reuters: Japan’s Toyota Motor Corp and Panasonic Corp said they plan to establish a joint company to develop “connected” services to be used in homes and urban …
- Mazda beefs up the after sales care for new 3 – Autocar: Mazda NZ has announced it will increase its after sales service programme, Mazdacare. Coming with the launch of the new Mazda3, Mazdacare will …
- First Patents Surface for Dyson Electric Car Planned for 2021 – Bloomberg: Dyson Ltd.’s electric car may have a long wheel base, an interior cabin with reclining seats and an aerodynamic design, according to patents awarded …
- Porsche pays $600m to close its Dieselgate chapter – Autocar:
- Michigan House poised to pass another version of no-fault insurance reform – Freep: A day after the state Senate passed drastic changes to Michigan’s no-fault auto insurance system, the House of Representatives was poised to vote on …
