- Volkswagen’s sub-£18,000 electric car set for Frankfurt reveal – Autocar: The affordable electric crossover will sit alongside models like the Crozz An electric ‘people’s car’ concept is touted for Frankfurt motor show in September alongside the ID 3 hatch Volkswagen is set to unveil the concept version of its entry-level…
- Tesla closes $2.7 billion mixed offering of shares, debt – Reuters: Tesla Inc said on Wednesday it closed its $2.7 billion offering of stock and convertible notes and that it was over-subscribed, giving the electric carmaker much needed cash as it ramps up production.
- Honda profit slides on foreign exchange, Europe, incentives – Automotive News: Honda reported a 13 decline in full-year operating profit on foreign exchange losses, rising incentives and one-time costs to restructure its European business.
- VW’s Tesla Attack Gets Real as Electric-Car Sales Begin – Bloomberg: The German auto giant is now taking 1,000-euro deposits to secure one of the first in a new range of battery-powered models. The new ID.3 hatchback …
- GM, Unifor to detail new plans for Oshawa plant – Automotive News: GM and Unifor have been engaged in talks since March, when Unifor suspended its high-profile media campaign to pressure GM to reverse plans to stop vehicle production in Oshawa.
- Lyft results underscore importance to Uber of life beyond ride-hailing – Reuters: Uber Eats, he said, was an example of a market that is similar to ride-hailing and can make for a relatively fast ramp-up of services and improvement in …
- Honda to cut model trims, streamline output – Automotive News: Honda is slashing the number of model variations available in North America and other regions and overhauling production in a new push to improve efficiency as growing investments in next-generation technologies pressures the company`s bottom line.
- What Uber’s IPO Tells Us About SoftBank’s Big Ride-Hailing Bet – Bloomberg: As Uber Technologies Inc. prepares for its mammoth initial public offering later this week, no one has more on the line in the ride-hailing business than …
- Polestar sets up R&D centre in Coventry to develop more EVs – Autocar: Volvo”s now-separate performance brand to engineer future models in West Midlands Polestar has confirmed it has established a new research and development centre in Coventry, West Midlands. The new facility, expected to be linked to parent company…
- Designers at Ford are using virtual reality tools to work with colleagues remotely – CNBC: As technology develops, VR is starting to be used across a wide range of industries, from aviation and defense to autos. Employees at Ford are using …
- Honda forecasts 6% rise in annual profit on Europe factory revamp – CNBC: Honda Motor forecast on Wednesday a 6% increase in operating profit for the current fiscal year. The automaker cited cost reduction efforts and a …
- Uber drivers plan strike ahead of much-anticipated IPO – Latimes: It was a protest that dealt Uber its biggest blow. When taxi drivers in New York City rallied against President Trump’s travel ban in 2017, Uber became …
- Why we need to address the demands of striking ride-hailing service drivers – Washington Post: Today, drivers for ride-hailing services “walked out” because of their paltry pay and lack of benefits. During the recession, layoffs, unemployment and …
- Eyeing IPO riches, Uber drivers go on strike in UK ahead of U.S. action – Reuters: Uber drivers in Britain started a day of transatlantic strikes on Wednesday to protest at the disparity between gig-economy conditions and the sums investors are likely to make in Friday’s blockbuster stock market debut.
- EnBW to widen charging point network for electric cars-CEO – Reuters: German utility EnBW is to expand its electric mobility activities as part of energy-related services, Chief Executive …
- Uber drivers set to protest around the world ahead of the company’s $90 billion IPO – CNBC: Drivers are also expected to stage protests against Uber and Lyft in at least eight cities around the U.S., including New York, Chicago and San Francisco.
- Toyota, Honda Become Latest Automakers to Warn of Weaker Profits – Bloomberg: Toyota Motor Corp. and Honda Motor Co. forecast profit and sales short of analysts’ estimates as a trade spat between the U.S. and China threatens global car …
- Drivers Start Strikes Ahead of Uber’s Blockbuster IPO – New York Times: Uber drivers in Australia briefly went on strike on Wednesday, the beginning of a … Drivers for other ride-hailing services, such as Lyft, were also set to …
- Defying Brexit, Volvo car brand Polestar picks UK for new development hub – Reuters: Swedish luxury electric carmaker Polestar, which is jointly owned by Volvo Cars and its Chinese parent Geely, is setting up an R&D center in Britain to develop …
- Hybrid Honda Jazz confirmed for 2020 – Autocar: New supermini, the first in the maker”s European line-up to be offered only as a hybrid, to be revealed at Tokyo motor show The next-generation Honda Jazz will use the dual-motor hybrid system already seen in the brand’s CR-V hybrid when it launches…
- VW promotes EU ahead of elections that could see euroskeptics on the rise – Automotive News: While Volkswagen is engaging with its workforce early in the process, spokespeople for Daimler, Ford and Opel told Automotive News Europe they …
- Honda e confirmed as name for maker’s electric city car – Autocar: Honda”s e prototype is taller than a Mini, shorter than a Jazz Honda four-seat car, previewed by early Urban EV concept, to command added-value appeal, like an Apple product Honda has confirmed that its upcoming electric city car wlll be called the…
- Honda forecasts 6 percent rise in annual profit on Europe factory revamp – Reuters: Honda Motor Co forecast on Wednesday a 6 percent increase in operating profit for the current fiscal year due to cost reduction efforts and a restructuring of its …
- As Uber gears up for IPO, many Indian drivers talk of shattered dreams – Reuters: In 2016, Rajesh Raut started driving an Uber taxi in Mumbai, hoping he could earn more than the $215 he received each month for making flatbreads at a roadside stall.
- Analysis | For Toyota, Cruise Control Isn’t Fast Enough – Washington Post: The company’s track record of cost cuts is encouraging. But investors looking for future growth drivers could be disappointed.
- Fiat Chrysler Tabs Infiniti’s Meunier to Head Jeep – Detroit Bureau: … has been riven by the shake up that followed the ouster of long-time Renault-Nissan boss Carlos Ghosn, who was accused of financial impropriety.
- Go-Jek-backed Bangladeshi start-up targets up to $50 million in fresh funds – Reuters: Bangladesh’s Pathao, a ride-hailing firm backed by Indonesia’s Go-Jek, is seeking to raise up to $50 million in its latest funding round to add more services such as payments and expand its food delivery business, its senior executives said.
- Weak auto industry, economic slowdown hit Osram earnings – Reuters: Weak auto industry, economic slowdown hit Osram earnings … BERLIN, May 8 (Reuters) – German lighting company Osram on Wednesday posted a … Especially the downturn in the automotive segment leads to high …
- Toyota expects 2019 profit surge to $23bn – Nikkei:
- Uber Drivers Threaten Protests But $9 Billion IPO Rides On – Bloomberg: Citing low wages, unstable work and an “unsustainable business model,” drivers in several major cities will turn off their ride-hailing apps on …
- Toyota annual profit rises 3% on cost cuts, lower incentives – Automotive News: Toyota’s operating profit edged up nearly 3 percent in the latest fiscal year on rising sales, tighter cost control and lower incentives in the crucial U.S. market.
- Toyota expects FY 2019 net profit to rise 19.5% on cost cuts – Mainichi: Toyota Motor Corp. said Wednesday it expects a 19.5 percent rise in group net profit for the current fiscal year ending March 2020 he.
- Jeep lands seasoned leader amid global expansion – Automotive News: Fiat Chrysler Automobiles on Tuesday named Meunier, 51, as global head of Jeep. He had been chairman and global president of Infiniti since …
- Toyota sees slight quarterly profit fall, projects recovery – Washington Post: Japan’s top automaker Toyota is reporting a 4% dip in profit for January-March after vehicle sales fell in North America. Toyota Motor Corp.
- Singapore’s Grab explores spinoff of payments, financial services units -FT – Reuters: Singapore-based ride-hailing company Grab is weighing a spinoff of its payments and financial services business, the Financial Times reported on Wednesday, citing executives and investors.
- Skoda electric models to stand out with unique lightstrip – Autocar: Production version of Skoda”s Vision iV arrives next year Company boss Bernhard Maier gives Autocar an insight into Skoda’s plans for an electrified line-up Skoda”s forthcoming range of electric vehicles will retain a front grille but be distinguished…
- Toyota, Honda plan to attack costs to free up cash for new tech – Reuters: Two top Japanese automakers said they planned to tighten their belts in the years ahead to free up cash to develop electric cars …
- Toyota sees smaller-than-expected profit rise in 2019-20 – Reuters: Toyota Motor Corp forecast on Wednesday a 3.3 percent rise in operating profit for the current year due to cost reduction measures and changes to its depreciation methods.
- Uber drivers eye IPO riches, call for strike in U.S. and UK – Reuters: Some Uber Technologies Inc drivers in the United States and Britain said they will strike on Wednesday, protesting what they call low pay a day before the ride-services company launches its initial public offering, valuing it at as much as $90 billion.
- New Zealand introduces bill for zero carbon emissions by 2050 – Guardian: New Zealand introduces bill for zero carbon emissions by 2050 … A landmark bill which would set a target of zero carbon emissions for New Zealand by … Climate change demands we do everything we can, not pick and choose.”
- Dirty Cash Probe Finds Booming Vancouver-China Luxury Car Trade – Bloomberg: Grocery bags full of cash hauled into car dealerships. Gangsters paying for auto leases with proceeds of crime. A thriving grey market in which Chinese buyers …
- Lyft sees ‘peak losses’ this year, says ride hailing has path to profit – Reuters: Ride services company Lyft Inc forecast that its losses would peak this year as it controlled expenses and got more revenue from each customer, posting a $1.1 billion quarterly loss on Tuesday, days ahead of rival Uber’s IPO.
