Business

Report: Daimler Targets 20% Cut in Administrative Costs

May 20, 2019 at 4:01 PM

Ola Kallenius, who will take over as CEO of Daimler AG on May 22 when Dieter Zetsche retires, aims to slash the company’s central administrative costs by 20%, sources tell Handelsblatt.

Powertrain Innovations from AAM

American Axle & Manufacturing makes SUVs and crossovers significantly more efficient with its EcoTrac disconnecting all-wheel-drive system, says David Crecelius, director of product engineering-electrification.

Sales

U.S. Used-Car Prices on the Rise

Used-car prices in the U.S. rose 2% in January-April compared with the same period last year, according to J.D. Power Valuation Services.

New Product

Renault Recaptures Nurburgring FWD Speed Record

Renault SA set a track record for front-wheel-drive vehicles at Germany’s Nurburgring Nordschleife course with its Megane RS Trophy-R performance coupe.

Mobility

Study: V2V Autonomous Cars Smooth Traffic Flow

A fleet of driverless cars working together can improve overall traffic flow by 35% under certain conditions, according to researchers at the University of Cambridge in the U.K.

Business

Daimler, Geely Launch Mobility Services Venture in China

Daimler AG and Zhejiang Geely Holding Group have formed a new company to sell mobility services in China.

Finance

Tesla Stock Continue to Slide on Investor Worries

Shares in Tesla Inc. have plunged 45% since mid-December, mainly because of investor concerns about the level of demand for its critically important Model 3 electric sedan.

Tech

Chevy Adds Seatbelt Usage Tech for Teen Drivers

General Motors Co. Chevrolet unit is adding a “Buckle to Drive” feature to its Teen Driver safety system, preventing vehicles from shifting out of park for 20 seconds unless the driver’s seatbelt is fastened.

Business

Brose Plans $335 Million Expansion in China

Brose Group says it will spend €300 million in China on products and equipment over the next three years.

Tech

Bosch Aims to Bring Auto Sensors to Flying Cars

Robert Bosch GmbH is adapting sensors used in passenger cars for future applications in air taxis.

Mobility

Detroit-Based University to Offer Master’s Degree in Mobility

Detroit’s Wayne State University and the Michigan Mobility Institute plan to launch a master’s degree program in mobility by 2021.

Sales

Hyundai Targets Sales of 5,000 Fuel Cell Cars This Year

Hyundai Motor Co. says it already has surpassed 2018’s full-year sales for its Nexo fuel cell vehicle, and the company predicts a fivefold increase by year-end.