News by tag: Automotive

16.08.2017

FCA chooses BMW-Intel alliance to develop self-driving cars

Fiat Chrysler Automobiles (FCA) is throwing itself into the autonomous vehicle race after years of watching its two Detroit rivals vie for leadership — and it’s doing it with formidable partners: BMW Group and Intel Corp. The Italian-American FCA is joining a team of companies that has worked to create a turnkey autonomous driving system. Along with the premium German automaker and the Silicon Valley chipmaker, the partnership also includes Mobileye NV, the Israeli camera and sensor company Intel acquired earlier this year for $15.4 billion.

 
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10.08.2017

Tesla to raise $1.5 bn junk bonds to support Model 3 production

Tesla is selling bonds to bolster its balance sheet and support spending on the Model 3 sedan. The company plans to offer $1.5 billion in senior unsecured notes due in 2025, according to a statement. Tesla said it intends to use the proceeds to produce its most affordable model and for general corporate purposes. It would be the company’s first sale of non-convertible bonds, according to data compiled by Bloomberg.

 
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02.08.2017

German politicians call a meeting to brake Dieselgate

After a two-year avalanche of revelations – from diesel emissions manipulation to claims of cartel collusion – German politicians will give car executives an unusually chilly reception in Berlin on Wednesday. At an emergency “diesel summit” increasingly jittery federal politicians and leaders of car-building states – Bavaria, Lower Saxony and Baden Württemberg – will read auto executives the riot act over their handling of a scandal with growing political and economic consequences.

 
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26.07.2017

Britain plans to ban diesel and petrol cars within 2040

Britain is to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide pose a major risk to public health. The commitment, which follows a similar pledge in France, is part of the government’s much-anticipated clean air plan, which has been at the heart of a protracted high court legal battle.  Plans to ban the sale of new diesel and petrol cars by 2040 in a bid to encourage people to buy electric vehicles are a "tall order" and will place unprecedented strain on the National Grid, motoring experts have warned.

 
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24.07.2017

Grab raised $2 bln to fight Uber in Southeast Asia ride-hailing market

Grab, the ride-hailing company competing with Uber in Southeast Asia, has pulled in $2 billion of new financing from existing investors Didi Chuxing, the company that defeated Uber in China, and SoftBank. The latest round of funding comes from Japan's Softbank and China's top ride-hailing firm Didi Chuxing. Grab said Monday that it expects another $500 million will come from other existing and new investors. Its last announced cash injection was in September when it raised $750 million led by Softbank, whose chief executive Masayoshi Son is Japan's richest person and a self-styled tech visionary.

 
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05.07.2017

All Volvo cars will adopt electric engines from 2019

Volvo on Wednesday called time on the internal combustion engine in a bid to get ahead in the race to sell electric cars to the mass market. The Chinese-Swedish carmaker has said that, from 2019, all of its models will be powered by electric engines. The Gothenburg-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but said it would introduce cars across its model line-up that ranged from fully electric cars to plug-in hybrids.

 
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23.06.2017

Tesla is looking at China to build a big factory

Tesla has confirmed it’s in talks with the Chinese government to open a factory in the Shanghai region, as the company aims to fulfill a promise by its CEO Elon Musk to produce 500,000 cars a year by 2018.  “Tesla is deeply committed to the Chinese market, and we continue to evaluate potential manufacturing sites around the globe to serve the local markets,” the company said in an emailed statement. 

 
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30.05.2017

Swiss-designed supercar Elextra aspires to tackle Tesla

Switzerland's Classic Factory has announced a sleek, limited-production four-door electric car that will provide exclusivity and ultra-performance to well-heeled EV customers. The Elextra electric car will be exclusive, with plans for just 100 to be hand-built in Germany. It will also be powerful and quick, to match its Italian looks. Elextra's two electric motors provide all-wheel drive, with torque independently distributed to the front and rear wheels for better traction. With a combined peak 680 horsepower, the car will sprint from a stop to 62 miles per hour in under 2.3 seconds. Top speed is limited, though, to 155 miles per hour.

 
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25.05.2017

Electric car could be cheaper by 2030, bad news for gas-powered one

Between now and 2021, battery production all over the world will more than double, Bloomberg reports. With more companies getting into the game, expansion and competition are up, and prices are down. This will mean more opportunities for energy companies and electric car manufacturers, and better deals for consumers looking to purchase clean powered technology for less money. The key is an expected increase in the number of battery factories, which will boost production capacity—and thus provide the economies of scale needed to make batteries cheaper.

 
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17.05.2017

EU will investigate FCA over emissions-test case

The European Union plans to launch legal action against Italy for failing to properly police allegations of emissions-test cheating by Fiat Chrysler following the Volkswagen scandal, EU sources said. EU regulators say Italy has failed to convince them that the so-called defeat devices used to modulate emissions on its vehicles outside of narrow testing conditions are justified. "The Commission decided today to send a letter of formal notice asking Italy to respond to concerns about insufficient action taken regarding the emission control strategies employed by Fiat Chrysler Automobiles group (FCA)," a statement said.

 
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    Ein neues Gespenst geht um in Europa und der Welt – das Gespenst der Digitalisierung, der Automati

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    ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.

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