Finance

China-Based EV Startup Future Mobility Raises $200 Million

August 16, 2017 at 12:27 AM

Chinese startup Future Mobility Corp., which hopes to begin selling highly automated electric cars in two years, has attracted $200 million in first-round funding from Chinese investors.

Economics

Envoys Aim for Fast Track on NAFTA Updates

August 16, 2017 at 12:00 AM

Negotiators hope for a fast start today on talks to update the 23-year-old North American Free Trade Agreement.

Business

S. African Company Buys U.K.’s Pentagon Dealer Network

August 15, 2017 at 6:26 PM

Motus, the newly formed vehicle division of South Africa’s Imperial Holdings Ltd., has acquired British dealership chain Pentagon Motor Holdings for 493 million rand ($37 million).

Sales

Opel to Test Mall-Based Retail Store

August 15, 2017 at 5:30 PM

PSA Group’s new Opel brand is preparing to pilot test a retail format in Stuttgart, Germany, that will enable customers to buy a car at a shopping mall.

Finance

Elio Motors Seeks $100 Million Cash Infusion

August 15, 2017 at 4:12 PM

Startup Elio Motors Inc. is scrambling to launch an initial public offering so it can raise $100 million needed to launch production of its three-wheeler in 2019.

EV-Hybrid

Germany to Test High-Wire Act for Hybrid Trucks on Autobahn

August 15, 2017 at 2:05 PM

Siemens AG says it has won a contract to build an overhead electrical contact line to test a system for hybrid commercial trucks on the autobahn.

Finance

Nexteer’s Net Profit Jumps 21% in First Half

August 15, 2017 at 1:45 PM

Steering systems supplier Nexteer Automotive Corp. says its next profit in January-June climbed 21% to $180 million.

Tech

Bimmer M3/M4 Cars Give Carbon Fiber the Shaft

August 15, 2017 at 12:20 PM

BMW AG’s M3 and M4 performance cars are shifting from lightweight carbon fiber-reinforced plastic (CFRP) driveshafts to traditional steel units to allow the installation of particulate filters to help meet tougher emissions requirements.

Business

Ford GT40 Roadster Prototype on the Block

August 15, 2017 at 11:46 AM

The lone remaining 1965 Ford GT40 Roadster prototype in its original condition is up for sale.

Sales

9 Brands Opt Out of Frankfurt Auto Show

August 15, 2017 at 11:44 AM

Nine European, Asian and U.S. brands that represent about 20% of car sales in Europe won’t participate at next month’s Frankfurt auto show, Automotive News reports.

Tech

U.S. Roadway Fatalities Down Slightly

August 15, 2017 at 8:54 AM

The number of traffic-related deaths in the U.S. fell 1% through the first half of the year compared with the same period in 2016 but are up 8% over like-2015, according to preliminary estimates from the National Safety Council (NSC). 

EV-Hybrid

“New-Energy” Car Sales Top 1 Million in China

August 15, 2017 at 1:53 AM

Carmakers have sold nearly 1.02 million electric and hybrid vehicles in China to date, according to the country’s Ministry of Public Security.