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China’s State Council has published a plan to develop the domestic energy-saving and new energy vehicle industry, which includes battery-electric vehicles, plug-in hybrid vehicles and fuel cell vehicles. 2012 Chinese Auto Industry Development Report. —Energy-saving and new energy vehicle plan. L/100km (40 mpg US) or less.
In response to critiques of the first version of its financing program introduced early in April ( earlier post ), Tesla Motors has raised the Model S resale value guarantee to be the highest of any premium sedan brand made in volume (excludes rare, low volume or limited edition vehicles). —Tesla Co-founder & CEO Elon Musk.
Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. Cool Planet’s green fuels are chemically identical to fossil fuels, with one of the lowest capital costs in the industry. The private placement has been jointly led by UBS and Goldman Sachs.
Koenigsegg Group AB has signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. Koenigsegg Group will own 100% of SAAB Automobile AB. Earlier post.).
The investment also marks a strengthening and deepening of the existing industrial and commercial partnership between PSA and DFG, China’s second largest carmaker. DFG’s investment through the two successive capital increases, for a total amount of €800 million, would accompany the deepening of this historic industrial partnership.
Ioxus, a manufacturer of premium performance ultracapacitor technology for use in transportation, industrial and energy applications, completed its series C funding with receipt of $21 million from investors. The company plans to use the funds to expand its customer service, sales and manufacturing in Asia, with a focus on China.
Public transport should also be the top priority for use of new energy automobiles in China, he said. The project aimed to replace public transport vehicles with electric vehicles to support the development of electric vehicle industry, Wan said. Wan said that a total of 8.5 billion yuan (US$1.28
have established a partnership to provide platform services for the taxi industry. DiDi hopes to leverage on its AI strengths and national network to empower the entire automotive industry chain. Didi Chuxing, the world’s leading mobile transportation platform, and SoftBank Corp.
The collaboration reflects Toyota’s recognition of the long-term potential of the urban air mobility market to meet the evolving needs of society, as well as Joby’s position as an industry leader in working to deliver safe and affordable air travel to everyone. Joby’s eVTOL. —Toyota Motor Corporation President and CEO Akio Toyoda.
Americans are much less likely than consumers in other major industrialized countries to purchase an electric vehicle or hybrid, largely because of concerns over access to charging stations away from home, according to a survey by global consulting firm OC&C Strategy Consultants.
Via , a company that provides digital infrastructure to power public mobility in cities around the world ( earlier post ), has raised a Series E financing led by EXOR. The financing values the company at $2.25 billion and will enable Via to advance its vision of efficient, accessible, and equitable public mobility.
GM and Koenigsegg had signed a stock purchase agreement regarding the sale of 100% of the shares of Saab Automobile AB in August. In September, Koenigsegg signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. Earlier post.) Earlier post.). Earlier post.).
These are the observations in an in-depth study of the industry by management professors at the University of California, Davis, and Dartmouth College. million automobiles were sold in the United States in 2019, of which only about 245,000 were battery-powered electric vehicles, researchers said. billion developing the Chevy Volt.
CHOREN Industries GmbH, along with its two German subsidiaries, declared insolvency on 8 July ( earlier post ). Smaller shares are held by the automobile groups Daimler AG and Volkswagen AG. Shareholders of the CHOREN Group include Gasification Holding GmbH, the Acorma Corporation and an array of private investors.
Bugatti Automobiles S.A.S. —Lutz Meschke, Member of the Executive Board for Finance. Oliver Blume and Lutz Meschke (Deputy Chairman and Member of the Executive Board for Finance and IT at Porsche AG) will become members of the Supervisory Board at Bugatti-Rimac. will continue to exist in the new joint venture.
The analysis examines how these global forces may impact business and industry; calculates the environmental costs to business; and calls for business and policymakers to work more closely to mitigate future business risk and act on opportunities. Global food prices are predicted to rise 70 to 90 percent by 2030.
The investment will enable DiDi to further enhance safety and efficiency by continuing its investment in advanced research and development of autonomous driving technology and testing, as well as deepen industry cooperation, and accelerate the deployment of autonomous driving services in specific areas in China and abroad.
The technology will be especially effective in vehicles, where physical damage can occur in automobile accidents and other mechanical events. When the option is exercised, a license to practice the technology commercially will be available to the entire industry through the Soteria BIG Consortium.
Thermoelectric material developer GMZ Energy ( earlier post ) has secured $14 million in Series C financing. GMZ Energy is developing its first product for the $8 billion residential, commercial and industrial solar thermal water market.
The new station and the large number of FCEVs (Fuel Cell Electric Vehicles) result from the largest EU-financed demonstration program for hydrogen and fuel cell cars. The cars in the project will be leased to private and industrial customers and used on an everyday basis. —Prof.
In view of the dynamic development of the Chinese automobile market, Volkswagen has added €1.6 Growth in the Chinese automobile market has exceeded everyone's expectations”. billion (US$2.1 billion) to its current investment program for China. Among other things, the additional funds are to be used for facilities at two new locations.
The joint venture will develop and globally market a broad range of products and technical service support in the rapidly expanding carbon-fiber based composites industry. Currently, the carbon fiber composites industry is estimated at US$10 billion globally and is expected to reach $40 billion US dollars by 2022.
The company designs, engineers, manufactures and sells electric power steering, hydraulic power steering, steering columns and driveline halfshafts for more than 60 automobile manufacturers and tier one suppliers. The sale better enables Nexteer to take advantage of anticipated growth in the global auto industry with a variety of automakers.
Guangzhou Automobile Group Co., —a partnership between Chery Automobile, China’s largest independent car manufacturer, and Israel Corporation—is bringing its Cross Hybrid Concept to the Geneva Motor Show in March. Guangzhou Automobile Group. Qoros Auto Co. The GAC 4x4 Trumpchi hybrid is in production. Qoros Auto Co.
Standard automobile and small engines can run on biobutanol blended into gasoline at any ratio, according to Gevo. Gevo Development, LLC will be managed by Mike Slaney and David Black who have significant experience in the financing, acquisition and operation of ethanol facilities.
The station is large enough to simultaneously serve 12 automobiles. The Hexie charging station is equipped with 3 express chargers and can accommodate 6 automobiles. The station, with an investment of 10.52 million yuan [US$41.5
HySiLabs, a France-based developer of a siloxane liquid carrier for hydrogen, announced a €13-million Series A financing led by Equinor Ventures, and joined by the European Innovation Council Fund, EDP Ventures and PLD Automobile, with the support of historical investors Kreaxi, Région Sud Investissement and CAAP Création.
Jingju is a key component of a DiDi-BAIC strategic partnership formed in a growing alliance between DiDi and auto-industry players. DiDi started partnership programs with automakers and fleet operators in 2016, and launched the DiDi Auto Alliance, an industry-chain partnership network in April 2018. Xiaoju Automobile Solutions?XAS?was
In its 12 th , and current, Five-Year Plan, the Chinese government also launched a new strategy to promote new energy vehicles (NEV; vehicles that are partially or fully powered by electricity) and to support its domestic automobileindustry to mass-produce NEVs. million) to support NEV manufacturing.
Gas flaring emits 400 million metric tons of CO 2 annually, the same as 77 million automobiles, without producing useful heat or electricity. Although Nigeria has reduced flare gas emissions by 28% from 2000 levels, the country’s oil industry still wastes 15bcm of natural gas every year. Expand access to financing.
Acceptance of studies and development of business and financing models. Customer acceptance and financing models for electric vehicles. Dr. Ferdinand Dudenhoeffer, general business and automotive industry I; Prof. Ferdinand Dudenhoeffer, general business and automotive industry I; Prof.
This likewise helped appease investors who were starting to shun the industry. Chairman Wei Jianjun warned of an unhealthy outlook for Chinas car industry following a years-long price war. From Bloomberg : Zero-mileage cars came to public attention last week, when Great Wall Motor Co.
Strong brands and the automobile will continue to play a central role in individual mobility in the future. The Group says it will will have the largest amount of real-time data in the whole industry, and continuously improve its products on this basis.
Fiat Chrysler Automobiles N.V. Groupe Renault also has a well-established and profitable financing business (RCI Banque). delivered a non-binding letter to the Board of Groupe Renault proposing a combination of their respective businesses as a 50/50 merger. The combined business would sell approximately 8.7 million vehicles annually.
The investments are to be financed from the cash flow of the Chinese joint venture companies. The monetary and fiscal measures taken by the government have provided positive impetus for the Chinese automobileindustry. Between 2009 and 2011, the Group is to invest a total of €4 billion (US$5.8 percent) in the first half of 2009.
Sumitomo Corporation and Musashi Seimitsu Industry Co., Sumitomo Corporation’s automotive business can be largely divided into three areas: manufacturing, sales and distribution, and financing and leasing. Hay, with nine business locations mostly in Europe, is Europe’s largest manufacturer of forged and machine-processed components.
The study, written by scientists of the Technical University Berlin (TUB) and PIK, was commissioned and financed by the BMW Group. Second, car manufacturers can react to standards through technology and innovation, shifting their automobile portfolio, but also by pushing additional fuel efficient cars into the market (e.g.
Since the MOU signing, state regulators, the auto industry and infrastructure developers and other stakeholders have shared information and best practices to help move this effort forward. Assessment of creative vehicle financing innovations. To date, manufacturers have rolled out more than 2 dozen models in the three ZEV categories.
million), in partnership with 42 partners from the industries, utilities, electric car manufacturers, municipalities, universities and technology and research institutions. million) available to finance part of the initiative’s activities. million (US$68.2 The Commission will make €24.2 million (US$34.3
SGL Group and BMW Group have formed a 51:49 joint venture to manufacture carbon fibers and fabrics for the automotive industry. This joint venture with the BMW Group is a milestone for the use of carbon fibers on an industrial scale in the automobileindustry.
As part of the strategic collaboration, the companies have agreed to co-create solutions to operate and manage fleet vehicles, marking the Group’s first foray into the industry, as they expand operations from automobile manufacturing and sales to total fleet solutions. Ola already hosts more than 1.3
High electricity rates are burdening private households and industry alike and threatening Germany’s competitiveness, the company noted. For private households, electricity rates were nearly 40% higher than the European Union average in 2012; for industrial facilities, 20%. billion) this year.
While the ChargePoint device is framed as being free, it does require the purchase of a new automobile through the automaker’s captive finance arm Hyundai Capital America. But it also took incentives away from a slew of electrified automobiles that would have qualified under the old model.
In practical terms, the agreement will provide for temporary employee exchanges between operational teams in the fields of Research & Development, Marketing, Manufacturing, Finance and Human Resources. The new agreements are in support of the new 5A+ medium-term plan for Dongfeng Peugeot Citroën Automobile (DPCA). billion) by 2020.
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