Jaguar Land Rover, reeling from a $4 billion writedown, a slump in China sales and uncertainty around Brexit, said conditions arent right for it to borrow from the bond market and that its seeking alternative funding. The luxury automaker needs to raise $1 billion within 14 months to replace maturing bonds, while feeding an investment program for electric cars thats burning through cash. To support its needs, JLR could increase a receivables facility or turn to other bank financing, with further options including leasing assets and tapping export credit, Treasurer Ben Birgbauer said in an interview.
Shuji Nakamura, a Japanese scientist, has been working on laser lights for automobiles over the last 5 years. His company, SLD, is working on a new light design which is 10 times brighter than LEDs and more cost and energy efficient than them too.
Carlos Ghosn's latest bid to be released on bail was rejected by a Tokyo court, leaving the fallen car titan behind bars for at least another two months as prosecutors continue to build their case against him for financial crimes. Ghosn's lawyers had submitted the bail application last week after the former Nissan Motor Co. chairman was indicted for a second time, over allegations he transferred personal trading losses to the carmaker. Prosecutors have said his current period of detention lasts until March 10, but Ghosn's chief lawyer, Motonari Otsuru, flagged last week that the executive could remain behind bars until his trial, which could be six months away.
Some of Britain's largest and most storied manufacturers are making a last-ditch plea to lawmakers to avoid a disorderly retreat from the European Union with stark warnings of production grinding to a halt and political inertia hurting their business. Ultra-luxury carmaker Rolls-Royce said its factory in southern England risks being paralyzed in the event of a hard Brexit if just one component becomes unavailable because of border delays. At planemaker Airbus SE, which makes the wings for all its aircraft in the U.K., uncertainty about which sort of Brexit may happen has become "really unbearable" and costs for contingency planning and preparations have ballooned into the many millions, Chief Executive Officer Tom Enders said Wednesday night in London.
Four years ago, Daimler AG dazzled with a self-driving luxury lounge in Las Vegas with a concept vehicle boasting a sleek interior that promised to pamper its well-heeled passengers into the automotive future. This year the Mercedes-Benz maker is back at the annual Consumer Electronics Show, though with a more utilitarian slant: a bubble-like autonomous shuttle designed to reliably ferry people and goods around town at limited speeds. The move from glittery luxury concepts to box-shaped people movers underscores a shift in the race toward autonomous vehicles. While driverless cars might not populate public roads for some time, shuttle services in confined areas have started to look more feasible, at least over the next few years.
Excessive use of robots has been one of the factors holding Tesla back from making more Model 3s at its factory in Fremont, California, the chief executive officer said in an interview with CBS This Morning.
Sanjeev Gupta's GFG Alliance will build EV plants as part of his worldwide push into the auto supply chain.
Lotte Group and French automotive group Peugeot SA are in discussion to invest almost $6 billion in the Indian market. While Lotte Group is planning to invest anywhere between $3 billion and $5 billion and Peugeot SA plans to spend about $1.2 billion for its new facility.
Singapore requires car owners to buy permits -- called Certificates of Entitlement -- that allow holders to own their vehicles for 10 years.
Bad traffic and ever lengthening commutes are pushing more and more consumers to buy pricier models that sport automatic gears and moving away from the manual stick-shifts that have long held sway over Indian roads.
The Japan-based auto supplier has pledged to recall and replace tens of millions of defective air-bag inflators used by 19 car and truck makers around the world, from Tesla Inc. to Toyota Motor Corp.
Tesla Inc. is in talks with record labels about creating its own music-streaming service, according to a person familiar with the matter.
Bosch, known as a maker of traditional car parts such as braking systems and combustion engines, is also a long-time software developer and is increasingly investing in newer technologies as the nature of driving changes.
Bankruptcy filings would put Takata a step closer to a sale to Key Safety Systems Inc., the U.S. air-bag maker owned by China's Ningbo Joyson Electronic Corp.
In a statement, Bosch declined to comment on the study, citing "the sensitive legal nature of these matters," adding that it would "not comment further concerning matters under investigation and in litigation."
Since Waymo sued in February, Uber and engineer Anthony Levandowski resisted turning over a due diligence report evaluating the risks associated with Uber's acquisition of Otto LLC, the company Levandowski formed days after he quit Waymo.
American businessman and philanthropist Michael Bloomberg has worked extensively with auto industry safety watchdog Global NCAP on making cars safer worldwide - including Global NCAP's work in India. Last year, more than 600,000 zero-star cars were sold in India, including the best-selling model, the Maruti Suzuki Alto. This is a major public health crisis that has not gotten anywhere near the attention it deserves, and it demands an urgent response both by governments and automakers, says Bloomberg.
Elon Musk, CEO, Tesla, has vowed to leave US President Donald Trump's advisory councils if the president pulls America out of the landmark Paris climate agreement.
Uber Technologies Inc. fired self-driving car executive Anthony Levandowski, yielding to mounting pressure in its court fight with rival Waymo to part ways with the engineer after a judge concluded he took thousands of confidential files from the Alphabet Inc. unit.
Since Waymo sued in February, Uber and engineer Anthony Levandowski have steadfastly refused to turn over a due diligence report evaluating the risks associated with Uber's acquisition of Otto LLC, the company Levandowski formed days after he quit Waymo.
