Archive for the ‘Funding’ Category

BMW, Jaguar Land Rover Team Up on Next-Gen Battery-Drive Technology

Move marks the latest in growing list of partnerships in new technologies expected to reshape auto industry.

by on Jun.05, 2019

Despite its success with electric vehicles like the Jaguar I-Pace, Jaguar Land Rover is partnering with BMW it accelerate its technology development curve.

BMW and Jaguar Land Rover will team up to develop next-generation electric drive systems, the two automakers announced Wednesday, a move that underscores both the industry’s push into new technologies like electrified and autonomous driving, as well as the push by manufacturers to form joint ventures to share costs and speed up development.

BMW was one of the pioneers in electrification with products like the battery-powered i3 and i8 plug-in hybrid, but it has lost momentum during the last several years as competitors – including Jaguar with its all-electric i-Pace – have begun launching a wave of new battery-cars.

Subscribe Now!

“We’ve proven we can build world-beating electric cars but now we need to scale the technology to support the next generation of Jaguar and Land Rover products,” said Nick Rogers, JLR’s Engineering Director. “It was clear from discussions with BMW Group that both companies’ requirements for next generation EDUs to support this transition have significant overlap making for a mutually beneficial collaboration.” (more…)

Britain’s Lotus Set to Reveal 1st New Model in 11 Years – and it Will Be Electric

Type 130 expected to be the first in a wave of new offerings.

by on Jun.04, 2019

The Type 130 will be the first all-electric British hypercar from Lotus, and it will be built in Hethel, England.

The long-struggling British sports car company Lotus is set to launch its anticipated turnaround program next month with the debut of its first new model in 11 years.

The automaker promises that the new sports car, dubbed the Lotus Type 130, will be electrifying. Quite literally, as it’s the first battery-powered model in the company’s 71-year history. We’ll find out for sure during a preview in London on July 16.

Product News!

During an announcement at the Shanghai auto show in April, Lotus boss Phil Popham declared that the new model will “mark a turning point” for the brand and “showcase” its capabilities. It will certainly illustrate the commitment that has been made by the company’s new owners, Zhejiang Geely Holding Group, which also owns Sweden’s Volvo. (more…)

Faraday Future Rescued — Again

But will the latest deal finally break start-up’s string of bad luck?

by on May.01, 2019

Faraday claims the latest funding should finally help it move its FF91 model into production.

It’s often said that cats have nine lives. Faraday Future must be the automotive equivalent of a feline considering the number of times the battery-car start-up has been bailed out.

Months after laying off the majority of its workforce and slashing pay for those remaining, the California-based carmaker has been tossed yet another lifesaver, this time in the form of a new, $225 million bridge loan from Birch Lake Fund Management LP. That comes barely a month after Chinese videogame company The9 Limited agreed to pump in $600 million in three tranches.

Plug In With a Free Subscription!

That’s enough, the company claims, to help it get its first product, the 1,050 horsepower FF91 ready for production while moving forward with the development of a more affordable model dubbed the FF81.

(more…)

Ford China 2.0: Automaker Kicks Off Second Act in China

Automaker looks to better integrate Chinese partners into business.

by on Apr.03, 2019

Ford China President Anning Chen lays out the tenets of Ford China 2.0.

When it comes to its newest business blueprint for China, Ford Motor Co. is going by the numbers, specifically Ford China 2.0.

That’s what the automaker dubbed its reworked business plan for the world’s largest auto market where it has been perpetually behind its competition. However, Ford is pinning its rebound on an influx of new product and an increased reliance on its Chinese partners.

Global News!

Ford China 2.0 comprises five key plans and four centers of competence to accelerate the redesign of its business and sharpen its focus on the Chinese market. (more…)

Volvo Raises $677M With New Bond Issue

Automaker taps debt markets again instead of IPO.

by on Mar.26, 2019

Volvo Chief Executive Hakan Samuelsson said that trade tensions between the U.S. and China as well as the EU were one reason to halt its IPO last year.

More than half a year removed from squelching a run at a stock market listing, Volvo Cars raised 600 million euros, or $677 million, with a new bond issue on Tuesday.

The new issue is the second in the last year for the Swedish/Chinese automaker, which is owned by China’s Geely, as it looks to find ways to fund its ongoing development of battery-electric cars and self-driving vehicles.

Business News!

Volvo said on the Tuesday the bond would mature in April 2024, pay a fixed coupon of 2.125% and have an issue price was 99.625, equating to a yield of 2.205% and a Euro mid-swap of 215 basis points. The settlement was expected to be April 2, and the bonds would be listed on the Luxembourg Stock Exchange, Volvo said. (more…)

“Boutique” EV Company, Now Named Canoo, Plans to Market by Subscription Only

Former Evelozcity, wants to change the way cars are designed, built and marketed.

by on Mar.26, 2019

Canoo's leadership team is looking to change the way electric vehicles are built and bought.

In a market crowded with wannabe battery-car manufacturers, Los Angeles-based Canoo hopes to create a niche for itself with what’s its describing as a vehicle using “minimalist design that maximizes interior space.”

“Boutique” start-up Canoo is trying to to pitch itself as the alternative to conventional automotive manufacturers, as well as some of its new EV competitors, among other things by “Liberating you from the tyranny of auto ownership.” That translates into offering its planned products only through a subscription service.

Electrifying News!

Originally known as Evelozcity, Canoo has yet to show any of the vehicles it’s planning to bring to market, something that might raise questions about the start-up’s viability. But to gain at least a little credibility, the company has announced it is hiring three battery-car veterans from BMW and rival EV wannabe Faraday Future. (more…)

Deal with Mobile Gaming Company May Save Faraday Future

California-based EV maker to launch a “two-brand strategy” in China.

by on Mar.25, 2019

Faraday Future has been at death's door for several months now, but a new deal with an investor may clear the way for its return to life.

Once again, struggling battery-carmaker Faraday Future may have found a way back from the abyss, this time with the help of Chinese mobile gaming company The9 Limited.

The California-based FF is getting a $600 million lifeline from The9 as part of a new, 50/50 joint venture that will target the Chinese market with a new battery-electric vehicle based on Faraday’s FF91 concept.

News You Can Trust!

Only a handful of details have yet to be released but the long-troubled Faraday said the plan is to produce up to 300,000 vehicles in China. It also said it will have the right to produce additional vehicles in China in the future. (more…)

Ford Investing $900M in Second EV Plant, AV Facility in Michigan

New operation set to open in 2023, add 900 workers.

by on Mar.20, 2019

Ford is planning to use its underutilized plant in Flat Rock, Michigan, to build electric vehicles starting in 2023.

Ford Motor Co. will invest $900 million in two Detroit-area facilities meant to focus on the cars of the future.

The bulk of the investment, about $850 million, will go to Ford’s now under-utilized Flat Rock facility that will become the automaker’s second source for pure battery-electric vehicles, or BEVs, in the process creating 900 new jobs. The rest will fund what the automaker is describing as an “Autonomous Vehicle center,” where conventional vehicles will be modified to operate hands-free and even entirely without a driver.

Product News!

Ford was one of the earliest of the automakers to focus on battery-based powertrain technology, though it won’t bring out its first long-range all-electric model until next year, a “Mustang-inspired” SUV expected to take aim at the new Tesla Model Y. It will be produced at Ford’s first battery-electric vehicle plant in Cuautitlan, Mexico. (more…)

Tesla Backtracks on Store Closures; Raises Prices 3% Instead

$35K Model 3 exempt from price increase.

by on Mar.11, 2019

Tesla announced it will only close half of its stores and offset that by raising prices 3%.

Tesla buyers looking to walk into a store to buy a new vehicle were disappointed recently when Chief Elon Musk said the company would close the stores to cut costs — now they can rejoice.

In a blog post, the company announced it would only close about half of the stores across the country, after a spate of negative back about the move initially.

News Now!

“Over the past two weeks we have been closely evaluating every single Tesla retail location, and we have decided to keep significantly more stores open than previously announced,” the electric carmaker said.  (more…)

Las Vegas Ponders Bet on Musk’s High-Speed Tunnel

Mile-long tunnel would ferry riders using high-volume cars.

by on Mar.07, 2019

Instead of cars, the Las Vegas version of Elon Musk's high-speed underground tunnels would use high-volume passenger cars, like a subway or train.

Sin City looks like it’s ready to indulge Elon Musk and his plans to build an underground high-speed transport system to ferry 1 million tourists back and forth across the city, starting January 2021, if approved.

Through the Boring Co., Musk will build the system, which is similar to what he’s proposed for Los Angeles, at a cost of $35 million to $55 million. The plan has already drawn the support of Las Vegas’ tourism agency.

Business News!

“It’s really innovative. I think it will be an attraction in and of itself, frankly,” Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, told The Associated Press. (more…)


monaliza.kiev.ua

www.sledoc.com.ua

surrogacycmc.com