News by tag: Automotive

08.11.2017

OPEC forecasts more global oil demand in case of electric cars boom

The use of oil in the road transportation sector will increase even as the sale of electric vehicles is expected to rise, according to the annual long-term outlook from OPEC. If a quarter of the world’s cars have batteries, global oil demand would reach a plateau of about 109 million barrels a day during the second half of the 2030s, the Organization of Petroleum Exporting Countries said in its annual World Oil Outlook.

 
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18.10.2017

Smartphone, texting when you drive is more and more dangerous

Using smartphone behind the wheel can be dangerous. Even a 2-second distraction can increase the risk of accidents by 20%, claims a study by driving analytics company Zendrive. The US-based study examined sensor data from more than 3 million drivers and 5.6 billion miles of trips and found that drivers are using their phones on 88% of their journeys. According to WHO (World Health organisation), car crashes accounts for 1.2 million people deaths and over 50 million disabilities every year.

 
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18.10.2017

Volkswagen targets emerging markets

Volkswagen has become one of the world’s biggest carmakers with a full range of makes and models, including highly engineered vehicles that compete with the world’s best. Now it is returning to its roots with a simpler people’s car, only this time the people are the teeming billions in China, India and other emerging markets. Volkswagen India's automotive offerings are actually over delivering for the Indian market, according to Steffen Knapp, director of passenger cars, Volkswagen India. As told to the Economic Times (ET), the company will now be looking to develop more region-specific offerings from sub brand Skoda Auto.

 
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17.10.2017

Tesla fired hundred of employers after bad results

Tesla fired hundreds of employees following what the company said is an annual performance review process, the company told TechCrunch. The news was first reported by The Mercury News. “Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results were achieved, during the performance period,” a Tesla spokesperson said. “This includes both constructive feedback and recognition of top performers with additional compensation and equity awards, as well as promotions in many cases. As with any company, especially one of over 33,000 employees, performance reviews also occasionally result in employee departures. Tesla is continuing to grow and hire new employees around the world.”

 
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05.10.2017

UK car sales down 9.3% in September

Car sales in the UK were down 9.3 per cent in September. The figures that have just been released are worse than the situation in the last six months, that has seen a constant decline. Chris Bosworth, director of strategy at Close Brothers Motor Finance, commented about the situation blaming Brexit, and therefore the uncertainty in the EU, for this decline.

 
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04.10.2017

Electric Cars

Tesla has been one of the greatest cash burners in history. The stock price is based on the assumption that electric motors in cars will soon replace internal combustion engines and that this change will mean huge revenues and profits for Mr Musk. Investors believe that their money should be in stocks that have the potential for future capital gains. There is a problem with this theory, and that is that other car manufacturers can relatively quickly put electric cars on the road.

 
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03.10.2017

New Tesla Model failed the target

Tesla's third quarter Model 3 delivery miss is further evidence the electric car maker will have difficulties ramping up manufacturing for the vehicle, according to a top Wall Street firm. The company has fallen behind on its delivery aim of 1600 all-new Model 3’s according to its delivery and production figures for the Q3 2017 period.

 
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29.09.2017

Dieselgate: VW costs reach $30 bn on US recalls

Volkswagen on Friday said it was setting aside another 2.5 billion euros to deal with the fallout from the "dieselgate" scandal in the United States as its efforts to recall tainted cars there proved to be more "complex" than expected. The latest provisions bring the total sum set aside by VW to deal with fines and costs over the diesel scandal to €25.1bn.

 
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28.09.2017

China change the rule: electric cars quota from 2019

China will require automakers to comply with a cap-and-trade auto emission rule starting from 2019, the Ministry of Industry and Information Technology announced on Thursday. Car companies with annual sales of more than 30,000 vehicles would have to meet a quota of 10 percent being New Energy Vehicles (NEV's), meaning all-electric battery vehicles or plug-in hybrids, it said in a statement.

 
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18.09.2017

Dieselgate costs 5,000 deaths more per year

Emissions from diesel cars rigged to appear eco-friendly may be responsible for 5,000 extra deaths from air pollution per year in Europe alone, according to a new study published on Monday. The numbers are in line with previous assessments of deaths due to the so-called “Dieselgate” scandal, which erupted when carmaker Volkswagen admitted in 2015 to cheating on vehicle emissions tests. The new study, published in the journal Environmental Research Letters, focuses on the perils for Europe.

 
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