Business

Turo Lands $250 Million in New Funding

July 19, 2019 at 2:43 PM

InterActiveCorp is investing $250 million in Turo Inc., a San Francisco-based peer-to-peer car-sharing company.

Cummins Offers to Buy VW’s Big-Diesel Unit

July 19, 2019 at 1:33 PM

U.S. diesel maker Cummins Inc. has offered to buy a unit of Volkswagen AG that makes huge diesels for ships and electrical generating stations, sources tell Reuters.

Chery Teams Up with Quanergy on Lidar, Smart City Tech

July 19, 2019 at 1:15 PM

China’s Chery Automobile Co. has selected Sunnyvale, Calif.-based Quanergy Systems Inc. to be its lidar partner for future autonomous vehicles.

BMW, Tencent Partner on Self-Driving Cars for China

July 19, 2019 at 1:52 AM

BMW AG and Tencent Holdings Ltd. are collaborating on autonomous-vehicle technology for the Chinese market.

Toyota Finalizes EV Battery Partnership with CATL

July 17, 2019 at 9:12 AM

Toyota Motor Corp. says it has launched a partnership with China’s Contemporary Amperex Technology Ltd., in which CATL will supply batteries for Toyota electrified vehicles.

NEVS, AutoX Partner on Autonomous EVs

July 16, 2019 at 9:51 AM

National Electric Vehicle Sweden AB says it will use autonomous vehicle technology from AutoX for a fleet of electric robo-taxis to be tested in Europe.

Tesla Prices Drop for Model 3, Rise for Other Models

July 16, 2019 at 12:57 AM

Tesla Inc. says it is standardizing its model lineup worldwide by reducing the number of range options for its electric vehicles.

Nippon Steel Plans $1.9 Billion Asset Sale

July 15, 2019 at 4:37 PM

Nippon Steel Corp. intends to sell of 200 billion yen ($1.9 billion) in assets over the next two years to help it buy a 50% stake in Indian steelmaker Essar Steel India Ltd.

Valeo Touts Lidar Contract Wins

July 15, 2019 at 1:41 PM

Valeo SA says it has received contracts from four unnamed carmakers totaling a combined €500 million ($564 million) for autonomous vehicle lidar sensors.

VW Invests $2.6 Billion in Ford’s Argo AI Unit

July 12, 2019 at 12:29 PM

Volkswagen AG has taken a roughly 37% stake in Ford Motor Co.’s Argo AI unit by agreeing to invest $1 billion in cash and merging its $1.6 billion Autonomous Intelligent Driving company with the Pittsburgh-based startup.

Rival Metal-Forming Company to Buy Tower International

July 12, 2019 at 10:58 AM

Autokiniton Global Group, which was created 13 months ago by KPS Capital Partners, has agreed to buy Tower International Inc. for about $900 million.

Toyota, Denso to Form Chip Design Venture

July 10, 2019 at 1:33 PM

Toyota Motor Corp. and affiliate Denso are creating a joint venture to develop next-generation processors for sensors and power controllers used in connected and self-driving vehicle systems.