Automobile | Pixr8 News

Chinese EV startup Byton to suspend production from July 1 for reorganization

1Jul By reutersNo Comments

Automobile

Chinese EV startup Byton to suspend production from July 1 for reorganization

SHANGHAI, 1st July, 2020: China-based electric car startup Byton will suspend production from July 1 to conduct a reorganization of the firm after being hit by the coronavirus pandemic. The company, which is backed by state-owned automaker FAW Group and battery supplier Contemporary Amperex Technology Co Ltd, said it was also actively raising funds to address issues relating to unpaid staff salaries and that it hoped to start paying employees from July. "The new coronavirus epidemic has brought great challenges to Byton's financing and production operations," it said in a statement. "After careful consideration and joint consultations with our shareholders and management, we have decided to, from July 1, kickstart a plan to lower employee costs and promote the company's strategic...

Echo3: An EV Company that Brings Electric Vehicles Within Reach of the Masses

30Jun By AdityaNo Comments

Automobile

Echo3: An EV Company that Brings Electric Vehicles Within Reach of the Masses

DENVER, June 29, 2020 -- Echo3, the electric automobile company, is bringing electric vehicles to the masses much in the way Henry Ford's Model T did from 1908 to 1927. The First Model T became available in October 1908. The Model T is the 3rd most selling automobile of all time selling 16.5 million automobiles primarily for two reasons, affordability, and new technology. The Model T touring sedan cost $825 in 1908 or about $22,991.85. The $825 price tag made the Model T within reach of middle class Americans. The turn of the century saw the country fascinated with new technology and the Model T brought the technology coast to coast. Fast forward to 2020 and Denver-based Echo3 Energy is responding to the need for...

Amazon agrees to buy self-driving startup Zoox for over $1 billion

26Jun By reutersNo Comments

Automobile

Amazon agrees to buy self-driving startup Zoox for over $1 billion

Seattle, 26th June, 2020: Amazon has agreed to pay over $1 billion to buy self-driving startup Zoox Inc, the Information reported on Thursday, citing sources, in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology. The report did not mention the exact purchase price and added Amazon is unlikely to disclose it when the deal is announced, likely to be on Friday. A majority of Zoox investors are getting their money back, with some making a positive return, the report added. Lux Capital, DFJ and Atlassian co-founder Michael Cannon-Brooks are some of the investors. Amazon and Zoox did not immediately respond to a Reuters request for comment. The Wall Street Journal reported last month that the companies were in advanced talks and the deal could va...

Kia, Hyundai and LG Chem join hands to invest in EV Startups

24Jun By PriyankaNo Comments

Automobile

Kia, Hyundai and LG Chem join hands to invest in EV Startups

New Delhi, June 23, 2020: South Korean automakers Hyundai Motor Company and Kia Motors Corporation, along with LG Chem announced a global competition to identify up to 10 electric vehicle and battery startups for potential investment and collaboration. New Energy Nexus, the international startup support organization, will manage and facilitate the competition ''EV & Battery Challenge (EVBC)'' the companies said in a joint statement. The chosen startups will have the opportunity to work hand-in-hand with Hyundai, Kia, and LG Chem, to develop proof-of-concept projects while leveraging the sponsors'' technical expertise, resources and laboratories, they added. "The global competition offers startups the opportunity to showcase their respective innovative technologies and unique ...

France Injects USD 8.8 billion in Electric Car Industry

27May By PriyankaNo Comments

Automobile

France Injects USD 8.8 billion in Electric Car Industry

Paris, May 27 (AP): France is injecting more than USD 8.8 billion to save the country's car industry from huge losses wrought by virus lockdowns, and wants to use the crisis to make France the No. 1 producer of electric vehicles in Europe. Starting next week, consumers can get up to 12,000 euros from the government for buying an electric car under the “historic” plan unveiled Tuesday by French President Emmanuel Macron. “Our country wouldn't be the same without its great brands Renault, Peugeot, Citroen,” Macron said, decrying an “unprecedented crisis” for the industry that has seen production plunge more than 90 percent in France alone. Carmakers and governments around the world are grappling with similar losses. Politicians are divided over whether and how to bail out an indust...

BattRE Launches Affordable Connected eScooter gps:ie

22May By NitishNo Comments

Automobile

BattRE Launches Affordable Connected eScooter gps:ie

App based User Interface. Key Features – GPS Tracking, Remote Immobilizer, Secure Park, Geofencing, Driving behavior and trip reports. Key Alerts – Tow alert, Crash alert, Speeding alert,Device status and Offline alert. Price starts from around $860 (Rs. 64,990) New Delhi, May 2020: With the positive sentiment of Indian EV industry which grew by 20% in the last fiscal & witnessing a strong demand Inspite of COVID 19; BattRE Electric Mobility Pvt Ltd, a technology driven EV startup has launched BattRE gps:ie, an affordable internet connected electric scooter. BattRE has partnered with San Jose California head quartered technology company Aeris Communications with country office in Delhi NCR for this affordable connected scooter. It is a SIM card based smart vehicle and i...

EV Growth in India up 20 Percent in FY20

20Apr By AnkitaNo Comments

Automobile

EV Growth in India up 20 Percent in FY20

Electric vehicle sales, excluding e-rickshaws, in India grew by 20 percent at 1.56 lakh units in 2019-20 driven by two-wheelers, a report by Society of Manufacturers of Electric Vehicles (SMEV) said on Monday. In 2018-19, total EV sales in India stood at 1.3 lakh units, SMEV said in a statement. Out of the total sales in FY20, 1.52 lakh units were two-wheelers, 3,400 cars and 600 buses. The corresponding sale for the 2018-19 was 1.26 two-wheelers, 3,600 cars and around 400 buses, it added. "This figure does not include e-rickshaws which is still largely with the unorganized sector with a reported sale of around 90,000 units. The corresponding figures of the e-ricks sold in the previous year have not been documented," SMEV said. SMEV said the growth of EV sales in India was dri...

TVS Motor acquires UK-based Norton Motorcycles

17Apr By Press Trust of IndiaNo Comments

ACQUISITION, Automobile

TVS Motor acquires UK-based Norton Motorcycles

TVS Motor has acquired UK-based iconic bike manufacturer Norton Motorcycles for GBP 16 million (around Rs 153 crore). The company has acquired Britain's most iconic sporting motorcycle brand Norton in an all-cash deal for a consideration of GBP 16 million by acquiring certain assets of Norton Motorcycles (UK) through one of its overseas subsidiaries, TVS Motor Company said in a statement. Founded by James Lansdowne Norton in Birmingham in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time. Norton Motorcycles is known for its classic models and range of luxury motorcycles ranging from authentic retro classic reboots of the famous Commando to its contemporary 200 bhp, 1200cc V4 superbikes. "This is a momentous time for us at TVS Motor Compan...

Volvo Cars and Its Chinese Owner Plan to Merge

10Feb By AnkitaNo Comments

Automobile

Volvo Cars and Its Chinese Owner Plan to Merge

Sweden's Volvo Cars and its Chinese owner Geely said they are considering merging into a single group to better share technology and financial resources while preserving their separate brands. The merged firm "would have the scale, knowledge and resources to be a leader in the ongoing transformation of the automotive industry," they said in a statement. "The combination would preserve the distinct identity of each of the brands Volvo, Geely, Lynk & Co, and Polestar," they added. Geely bought Volvo in 2010 from Ford which hadn't been able to turn around the Swedish automaker. But under the Chinese firm Volvo has rebounded and smashed its sales records. Volvo sold more than 705,000 vehicles in 2019, besting the record it set in 2018 by 10 percent, and the automaker expects c...

Hyundai and Kia Invest $110 Million in Electric Vehicle Startup

17Jan By NitishNo Comments

Automobile, FUNDING

Hyundai and Kia Invest $110 Million in Electric Vehicle Startup

SEOUL, South Korea, Jan. 16, 2020 -- Hyundai Motor Company and Kia Motors Corporation invest USD $110 million in a new partnership with Arrival, a UK-based electric vehicle startup. Through the partnership, Hyundai and Kia plan to introduce competitively priced small and medium-sized electric vans and other products for logistics, on-demand ride-hailing and shuttle service companies. Arrival's scalable electric platform can be adapted for multiple vehicle categories and types which Arrival, Hyundai and Kia will explore for the development of a range of Purpose Built Vehicles (PBV). The partnership with Arrival will help Hyundai and Kia meet the rapidly growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands' transformation from car mak...

Toyota Invests $394M in Flying Taxi Startup

17Jan By AnkitaNo Comments

Automobile, FUNDING

Toyota Invests $394M in Flying Taxi Startup

SANTA CRUZ, Calif., Jan. 17, 2020-- Toyota is exploring a new flight path for mobility through a new collaboration with Joby Aviation (Joby), an aerospace company that is developing and commercializing all-electric vertical take-off and landing (eVTOL) aircraft to enable the deployment of fast, quiet and affordable air transportation services. The collaboration reflects Toyota's recognition of the long-term potential of the urban air mobility market to meet the evolving needs of society, as well as Joby's position as an industry leader in working to deliver safe and affordable air travel to everyone. "Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky," said Toyota Motor Corp...

Hyundai India Rolls Out Online Sales Platform

17Jan By Press Trust of IndiaNo Comments

Automobile

Hyundai India Rolls Out Online Sales Platform

Hyundai Motor India has launched an online sales platform in addition to its existing physical retail sales network. The company said its 'Click to Buy' is a first-of-its kind online sales platform with simple and transparent process for purchase of Hyundai cars. "It is India's first online sales platform to cater to the needs of new-age digital customers for purchase of new Hyundai cars," Hyundai Motor India MD and CEO SS Kim said in a statement. The retail selling has witnessed a tremendous shift since the last decade and the new generation is immensely inclined to buy products online, he added. Hyundai has currently introduced the initiative on a pilot basis with few dealers in Delhi-NCR. All company models will be available on the 'Click to Buy' website and this would a...