On Monday, China finance ministry stated, it plans on rolling new policies to support hydrogen fuel cell vehicles in order to boost the industry’s supply chain and related technologies. China has emerged as the world’s biggest market for new energy vehicles (NEVs), which includes plug-in hybrids, battery electric vehicles as well as and hydrogen fuel…
With U.S. electric vehicle pioneer Tesla Inc accelerating the shift towards electric cars, Hyundai Motor suppliers have increasingly turned to “outsiders” for parts; but now Hyundai’s own supply company, Mobis, plans on plunging into this supply chain. Hyundai Mobis is negotiating with two global automakers to supply electrified parts, said the company’s executive with an…
In a video posted on Tesla’s YouTube channel, Tesla’s engineers have showcased a prototype for a ventilator. Tesla is gearing to produce thousands of ventilators to help hospitals around the country who have been overwhelmed by the Wuhan coronavirus outbreak. According to one of the engineers, the design relives heavily on Tesla car parts. This…
On Wednesday, Mercedes-Benz and Zhejiang Geely Holding Group Co Ltd stated, they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build “premium and intelligent electrified” vehicles under the smart brand. The 50:50 joint venture has already got regulatory approval and will be based in the Chinese coastal city of Ningbo,…
On Tuesday, sources with knowledge of the matter at hand disclosed, Fiat Chrysler Automobiles NV’s board is scheduled to meet later this afternoon to consider taking the next steps toward a proposed merger with French automaker Peugeot SA. Peugeot’s board is also expected to meet this afternoon and is expected to consider a memorandum of…
On Monday, an official from China biggest auto industry association stated, fewer new energy vehicles (NEV) are likely to be sold in China in 2019, compared to the previous year, following a cut in subsidies by the government. The comments made by Chen Shihua, assistant secretary general at China Association of Automobile Manufacturers (CAAM), after…
The autonomous driving unit will function as an independent company. On Monday, China’s ride hailing firm Didi Chuxing stated it has launched an autonomous driving unit as an independent company. The business will focus its resources on research and development activities as well as deepen its collaboration with automakers. Zhang Bo, Didi’s chief technology officer…
The development is significant since it marks an acceleration in the banding of automakers in an industry which is placing growing emphasis on offering vehicle services rather than selling cars to individual drivers. On Friday, five Japanese automakers including Mazda Motor Corp and Suzuki Motor Corp, stated they would be investing 2% of their revenues…
Horizon Robotics is one of the companies at the fore front of China’s strategic “Made in 2025” policy. Its latest funding round has valued it at $3 billion. On Wednesday, Horizon Robotics, a Chinese chip maker stated it had $600 million in its latest funding round, thus bringing its valuation to $3 billion. The development…
With Beijing’s policymakers and regulators intent on transitioning from fossil fuel powered vehicles to more electric vehicles, China is set to become the automotive powerhouses in the world. In a development aimed at accelerating the adoption of electric vehicles, automakers from across the globe are planning a $300 billion surge in their spending on electric…
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