Tag Archives: Industry

Sergio Marchionne dies following complications with surgery

Former Fiat Chrysler Automobiles CEO and Ferrari Chairman and CEO Sergio Marchionne has succumbed to the complications that arose following recent shoulder surgery at a hospital in Zurich, Switzerland. He was 66. His passing was confirmed Wednesday by John Elkann, grandson of Gianni Agnelli and chairman of EXOR, the investment company that controls FCA...

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Opel posts first profit in almost 2 decades

Germany's Opel is already seeing the results of synergies with new parent PSA Group as the brand has just reported its first profit in almost two decades. Opel (Vauxhall in the United Kingdom) on Tuesday reported sales of 550,900 units and a profit of $587 million for the first six months of 2018. Opel's profit margin has also reached 5 percent, which is...

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VW boss says traditional auto shows are dead

Volkswagen chairman Herbert Diess believes the auto show circuit as we know it is dead. Instead, festivals and dynamic events like the Goodwood Festival of Speed are the way forward for such events, he told Motoring in an interview published Tuesday. Not only will festival atmospheres take over from traditional auto shows, but off-site events for individual...

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Waymo’s self-driving cars are driving 25,000 miles a day

Each and every day, Alphabet Inc.'s Waymo self-driving car subsidiary sees its fleet of autonomous vehicles drive a combined distance of 25,000 miles—and the mileage is even higher when counting simulated miles. The company shared its latest achievement on Friday, when it also revealed that the self-driving car fleet has reached 8.0 million miles on...

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BMW, VW will receive early lead in gaining control of Chinese joint ventures

Come 2022, China will officially scrap ownership limits on foreign automakers and the joint-venture agreements those limits require. However, the country has given BMW and Volkswagen an early lead on removing the limits. Both German automakers signed agreements with their joint-venture partners in the presence of Chinese Premier Li Keqiang that will remove...

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Tariffs mean Volvo will source XC60s for US from Sweden instead of China

Volvo has started sourcing XC60 SUVs for sale in the United States from Sweden instead of China to avoid new tariffs introduced this month by President Donald Trump's administration on certain Chinese-made goods. The information was confirmed by Volvo CEO Håkan Samuelsson in an interview with Reuters published Thursday. “We will of course...

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German Tesla Model S owners told to repay $4,650 electric car subsidy

Hundreds of Tesla Model S owners in Germany will be required to repay a $4,650 electric car subsidy after the country's Federal Office for Economic Affairs and Export Control ruled the car does not qualify. Around 800 owners will be responsible for the sum after the agency declared the Model S is too expensive and does not meet the "environmental bonus"...

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Lamborghini builds 8,000th Aventador, 11,000th Huracán

It's been seven years since Lamborghini began production of the Murciélago-replacing Aventador, and five since the Gallardo left us in favor of the Huracán. On Tuesday, both nameplates reached significant milestones. Lamborghini announced it has produced the 8,000th Aventador and the 11,000th Huracán. The milestone Aventador, an S...

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Production versions of ID Buzz and Crozz concepts to be made in US

Volkswagen is developing a family of electric cars based on a modular platform dubbed the MEB, and at least two of them will be made in the United States. The confirmation was made by Volkswagen Group of America CEO Hinrich Woebcken in an interview with Autocar published Tuesday. Woebcken confirmed the two vehicles as the production versions of the ID Buzz...

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Porsche begins installing 800-volt electric charging stations at dealerships

After installing the first of many 350-kilowatt, 800-volt charging stations in Berlin, Germany, last year, Porsche has begun erecting the so-called Turbo Charging stations at dealerships. The first dealership is the Porsche Center in Berlin-Adlershof. Four parking spaces feature the new chargers, which offer double the voltage over current DC fast-charging...

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