The resumption of testing of Uber’s autonomous automated fleet of cars will now be under more controlled and monitored conditions. In a significant development, Uber Technologies Inc stated, it is resuming the limited testing of self-driving cars on public roads in Pittsburgh; the move comes 9 months after it suspended the program following a deadly…
Plea to extend the period of detention of the former Nissan chairman Carlos Ghosn and Representative Director Greg Kelly by Japanese prosecutors was rejected by Tokyo District Court on Thursday. It is likely that a bail plea would be filed by the lawyers for the two men. Ghosn would be released on bail, if approved,…
The results of a survey conducted by Deloitte released on Wednesday shows that the confidence of senior finance officers at companies operating in China is being pulled down by increasing trade risks. The consultancy organization conducts the survey twice a year among financial executives about their attitudes on trade and business as a part of…
The forward-looking purchase of the stake is of strategic significance as it revolves around the future of mobility. In a strategic move, Volkswagen has purchased a controlling stake in Volvo’s WirelessCar, a digital service developer which specializes in connected driving, for $122 million (1.1 billion Swedish crowns). In a statement Volkswagen stated, WirelessCar’s technology would…
The much awaited blockbuster IPO from Japan’s Softbank has failed to create the impetus in the share market to the level that most had hoped for. There was a sharp drop of 15 per cent in Tokyo in the shares in the Japanese company’s mobile telecommunications unit in the first day of trading after the…
According to a statement by the U.S. Justice Department, German auto parts supplier IAV Gmbh would plead guilty as well as pay $35 million in fines on charges of conspiring with German car maker Volkswagen AG in trying to bypass the tough diesel emission norms in the United States. The Justice Department said that 50…
Investors worries include SoftBank Corp’s exposure to Huawei. SoftBank has stated it plans on replacing its Huawei-provided 4G network equipment with those of other suppliers – an expensive and time-consuming affair. In a rare development, shares of Japan’s SoftBank Corp fell by more than 10% on debut as investor appetite for what has been Japan’s…
Following Blythe Masters’ stepping down as Digital Asset’s CEO, AG Gangadhar, the startup’s chairman will serve as its acting CEO while it locates a new chief executive. Digital Asset, a blockchain startup stated, Blythe Masters, its chief executive officer who is one of the most prominent backers of the distributed ledger technology on Wall Street…
According to the chief executive of German car manufacturer Volkswagen (VW), the there could be need for the car maker to further augment its strategies for mass production of electric vehicles so that it would be able to address the tougher-than-expected European targets of reduction of greenhouse emissions emitting from cars in the block. This…
Japanese car maker Nissan complained on Monday that it had not been allowed to put in a complete explanation of why it fired Carlos Ghosn in late November to the board of the French car maker Renault which led bare the differences and tension in the largest auto alliance of the world – which includes…
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