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CARS24 rebranding aims to change the conversation around used cars
short by Roshan Gupta / on 13 Mar 2019,Wednesday
Through its new campaign, CARS24 aims to move the conversation around selling a car from a transactional experience to a memorable one. The brand believes that every car is filled with unique memories and the last drive before selling your car should be a positive experience at CARS24. The brand has also gotten a fresh new logo and design language.
short by Roshan Gupta / 03:05 pm on 13 Mar
Ola raises $300 million from Hyundai and Kia Motors
short by Pragya Swastik / on 19 Mar 2019,Tuesday
Homegrown ride-hailing startup Ola on Tuesday announced it has raised $300 million from Hyundai Motor Group's Hyundai Motor Company and Kia Motors in their biggest combined investment to date. The three companies will build India-specific electric vehicles and infrastructure. The investment is part of Ola's ongoing Series J round of funding, which is estimated at $1 billion.
short by Pragya Swastik / 12:22 pm on 19 Mar
CEO of Germany's Volkswagen apologises for pun on Nazi slogan
short by Krishna Veera Vanamali / on 15 Mar 2019,Friday
German automaker Volkswagen's CEO Herbert Diess apologised on Tuesday for making a pun on a Nazi slogan at a company event. Herbert Diess used the phrase "EBIT macht frei", where EBIT refers to "earnings before interest and taxes". The line evoked the slogan on the main gate of the Auschwitz concentration camp, "Arbeit macht frei", meaning "work sets you free".
short by Krishna Veera Vanamali / 09:30 am on 15 Mar
Uber spent ₹139 crore a month on self-driving technology
short by Kanishka Pandey / on 13 Mar 2019,Wednesday
Uber spent around ₹139 crore ($20 million) per month on developing self-driving technologies, recently unsealed US court documents revealed. Uber had aimed to have 75,000 autonomous vehicles on roads by this year and operate driverless taxi services in 13 US cities by 2022. This comes ahead of Uber's planned IPO, which could reportedly value the ride-hailing giant around $120 billion.
short by Kanishka Pandey / 05:27 pm on 13 Mar
Tesla unveils Model Y SUV, completes 'S3XY' lineup of car names
short by Pragya Swastik / on 15 Mar 2019,Friday
Elon Musk-led Tesla has completed the 'S3XY' lineup of its car models by unveiling Model Y SUV. Tesla has named its cars Model S, Model 3, Model X and Model Y to give an impression of 'sexy'. Musk wanted to call Model 3 as Model E but dropped the plan after Ford threatened to sue over a similar naming scheme.
short by Pragya Swastik / 02:47 pm on 15 Mar
Maruti Suzuki stops producing Gypsy after 34 years
short by Gaurav Shroff / on 07 Mar 2019,Thursday
Maruti Suzuki is stopping production of its iconic Gypsy off-roader that was introduced in India in 1985. A recent e-mail addressed to Maruti Suzuki dealers instructed them not to accept any new bookings for the Gypsy. Gypsy was the company's third vehicle driven in the country after 800, which was discontinued in 2014, and Omni, to be discontinued in 2020.
short by Gaurav Shroff / 02:55 pm on 07 Mar
Elon Musk says Tesla 'would love to be' in India this year or next
short by Krishna Veera Vanamali / on 15 Mar 2019,Friday
Tesla's billionaire CEO Elon Musk on Friday said his company "would love to be" in India this year and if not, definitely the next. The 47-year-old's comments come nearly ten months after he blamed restrictive policy environment for delaying the US carmaker's entry into India. India has just 6,000 passenger electric vehicles on its roads, according to Bloomberg NEF data.
short by Krishna Veera Vanamali / 08:00 pm on 15 Mar
Startup claims making ₹2.64 cr flying bike that travels at 15,000 ft
short by Pragya Swastik / on 14 Mar 2019,Thursday
US-based startup Jetpack Aviation has claimed it's making the "world's first" flying bike 'Speeder' that has a top speed of 241 kmph and can travel at 15,000 feet above the ground for up to 22 minutes. Speeder is powered by modified jet engines placed on the base. The startup, planning to launch the bike next year, has begun taking pre-orders.
short by Pragya Swastik / 03:53 pm on 14 Mar
Bugatti unveils ₹23-lakh EV for kids on 110th anniversary
short by Kanishka Pandey / on 12 Mar 2019,Tuesday
French luxury automaker Bugatti has unveiled a limited-edition electric vehicle 'Bugatti Baby II' worth around ₹23 lakh for children, to celebrate its 110th anniversary. The car also features an 'adult mode', with a top speed of 45 kmph, alongside the 'child mode'. It is inspired from the 'Bugatti Type 35' racing car, which is popularly called the 'Bugatti Baby'.
short by Kanishka Pandey / 06:25 pm on 12 Mar
Rolls-Royce car features volume controller made of meteorite
short by Arundhati Rawat / on 10 Mar 2019,Sunday
British luxury automaker Rolls-Royce has unveiled 'Phantom Tranquillity' car, equipped with volume controller made from wafer-thin meteorite shavings. Rolls-Royce said it used the authentic Muonionalusta meteorite, which fell to Earth in Sweden in 1906. The Phantom Tranquillity also features an engraving of the location and date of the meteorite's discovery.
short by Arundhati Rawat / 10:08 pm on 10 Mar
Tesla secures $521 million for $2-billion China Gigafactory
short by Kanishka Pandey / on 10 Mar 2019,Sunday
US-based electric carmaker Tesla has secured around $521 million in loans from four Chinese banks to build its first Gigafactory outside of the US, which it estimates will cost around $2 billion. Tesla CEO Elon Musk formally began construction of the factory in January. Tesla is set to become the first foreign automaker to wholly own a factory in China.
short by Kanishka Pandey / 08:40 am on 10 Mar
France airport uses self-driving robot valets to park cars
short by Kanishka Pandey / on 16 Mar 2019,Saturday
France's Lyon-Saint Exupéry airport has started using robo-valets developed by Paris-based startup Stanley Robotics that lift up cars and take them to a designated parking spot. The robots can fit 50% more cars in the same area, Stanley Robotics said. Users' flight information will be used to determine when to bring the cars back, it added.
short by Kanishka Pandey / 04:18 pm on 16 Mar
Musk never sought approval for Tesla tweets despite court order: SEC
short by Arundhati Rawat / on 19 Mar 2019,Tuesday
The US SEC has said Elon Musk never sought pre-approval for a single Tesla tweet since he was ordered by a court to do so. Musk and Tesla had reached a settlement with SEC last year over his tweet about taking Tesla private. Recently, SEC asked that Musk be held in contempt for violating settlement by tweeting Tesla's production rates.
short by Arundhati Rawat / 09:14 pm on 19 Mar
Volkswagen to cut up to 7,000 jobs to save $6.7 bn annually
short by Shruti Maria Mahendar / on 13 Mar 2019,Wednesday
German automaker Volkswagen on Wednesday said it would eliminate up to 7,000 jobs by 2023. The move is aimed at delivering $6.7-billion annual savings at its core Volkswagen brand. This comes a day after the company said it would cut jobs as it speeds up the roll-out of electric cars, which are less complex to build and require fewer workers.
short by Shruti Maria Mahendar / 07:12 pm on 13 Mar
Mahindra CIE to acquire Aurangabad Electricals for ₹830 cr
short by Shruti Maria Mahendar / on 12 Mar 2019,Tuesday
Automotive components supplier Mahindra CIE Automotive on Tuesday said it will acquire aluminium die-casting firm Aurangabad Electricals (AEL) for ₹830 crore. The acquisition will help Mahindra CIE foray into the aluminium die-casting space, as well as strengthen its presence in the two-wheeler segment, it added. Mahindra CIE is the Indian unit of Spain's CIE, a supplier of automotive components.
short by Shruti Maria Mahendar / 08:42 pm on 12 Mar
Ex-Nissan chief barred from attending Nissan board meeting
short by Shruti Maria Mahendar / on 11 Mar 2019,Monday
A Tokyo court has rejected sacked Nissan Chairman Carlos Ghosn's request to attend a board meeting this week after the Japanese carmaker stated its opposition to his attendance. The 64-year-old was last week released on an $8.9-million bail after 108 days in detention. He is facing charges of under-reporting his salary and transferring personal losses to Nissan.
short by Shruti Maria Mahendar / 07:53 pm on 11 Mar
Will contest NGT's ₹500-crore penalty, says Volkswagen India
short by Shruti Maria Mahendar / on 07 Mar 2019,Thursday
Volkswagen India on Thursday said it will challenge the National Green Tribunal's (NGT) ruling imposing a ₹500-crore penalty on the automaker for violating emission norms. All cars from the group are compliant with the emission norms defined in India, the company added. The NGT had found Volkswagen guilty of intentionally programming engines in its diesel cars with cheat devices.
short by Shruti Maria Mahendar / 07:19 pm on 07 Mar
Volkswagen, former CEO charged for defrauding US investors
short by Kanishka Pandey / on 16 Mar 2019,Saturday
US SEC has charged German multinational automaker Volkswagen, along with two of its subsidiaries and former CEO Martin Winterkorn for defrauding US investors during its 'Dieselgate' scandal. SEC alleged Volkswagen issued $13 billion in bonds and securities in the US from April 2014 to May 2015, despite knowing five lakh of its vehicles in market failed to meet emissions standards.
short by Kanishka Pandey / 11:06 pm on 16 Mar
Infosys to deliver digital services to UK's Rolls-Royce
short by Kanishka Pandey / on 09 Mar 2019,Saturday
British aircraft engine maker Rolls-Royce has selected Bengaluru-based Infosys as a strategic long-term partner to deliver engineering and digital services to meet its customers' needs for sustainable energy. "We'll support Rolls-Royce to become more productive, agile and innovative," Infosys Executive VP and Global Head of Manufacturing said. The financial details of the deal weren't disclosed.
short by Kanishka Pandey / 09:00 am on 09 Mar
UK to review 184-yr-old law that bans e-scooters on pavements
short by Kanishka Pandey / on 19 Mar 2019,Tuesday
UK government is opening "the biggest regulatory review in a generation" of current mobility laws, including a 184-year-old law that prohibits riding e-scooters on pavements. However, the government said there were "no current plans to bring forward legislation to legalise e-scooters". The European scooter industry has reportedly gained over $150 million investment from VC firms over last year.
short by Kanishka Pandey / 10:48 pm on 19 Mar
Faraday Future to sell site of $1bn US factory, seeks $40mn
short by Kanishka Pandey / on 15 Mar 2019,Friday
Cash-strapped electric vehicle startup Faraday Future has decided to sell its 900-acre Las Vegas factory site, seeking around $40 million. The production facility was initially delayed in 2016 before the Tesla rival abandoned the $1-billion project in 2017. Faraday Future had reportedly extended unpaid leaves it had earlier given to some workers in December 2018 indefinitely.
short by Kanishka Pandey / 04:04 pm on 15 Mar
Tesla to drop 'misleading' fuel-savings claims in German ads
short by Arundhati Rawat / on 07 Mar 2019,Thursday
Elon Musk-led automaker Tesla has agreed to drop 'misleading' fuel-savings claims made by it in the Model 3 advertisements in Germany as of March 20, German fair-competition regulator Wettbewerbszentrale said. Tesla had claimed the Model 3 allowed an estimated €5,000 savings in five years of its €56,380 price on the website. The regulator said it contradicts price clarity principles.
short by Arundhati Rawat / 08:52 pm on 07 Mar
EV concept that doesn't need driving licence in some nations made
short by Arundhati Rawat / on 11 Mar 2019,Monday
French automaker Citroën has unveiled its 'Ami One' electric vehicle concept, which can be driven without a driver's licence in some nations as it qualifies as a quadricycle. It has a top speed of 48.2 kmph. Users can lock and unlock the prototype's doors by scanning the QR code on the base of the door handles.
short by Arundhati Rawat / 02:52 pm on 11 Mar
Ola in talks to buy custom-made electric vehicles: Report
short by Kanishka Pandey / on 14 Mar 2019,Thursday
Bengaluru-based Ola is reportedly in talks with India's top automakers to buy custom-made electric vehicles (EV). The vehicles will partly be designed by Ola to focus on efficient battery management systems, the report said. Notably, Ola's electric mobility business arm, Ola Electric Mobility, recently raised ₹400 crore from US-based hedge fund Tiger Global and Matrix India among others.
short by Kanishka Pandey / 08:51 pm on 14 Mar
Ford may fire 5,000 in Germany to boost profits in Europe
short by Kanishka Pandey / on 16 Mar 2019,Saturday
American multinational automaker Ford has said it plans to fire over 5,000 employees in Germany in a bid to boost European operations profitability. It further announced it will fire a yet-to-be-decided number of employees in Britain as well. This comes after Ford recently also announced US job cuts as part of the global reorganisation announced last year.
short by Kanishka Pandey / 06:56 pm on 16 Mar
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