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Nissan Invests $303 Million in Japanese Plant for EV Production

28Nov By PriyankaNo Comments

Automobile

Nissan Invests $303 Million in Japanese Plant for EV Production

Nissan is investing $303 million in its flagship auto plant in Japan's Tochigi prefecture in a first rollout of a production system geared toward electric vehicles. Nissan Motor Co. Executive Vice President Hideyuki Sakamoto said that manufacturing methods must change because vehicles increasingly have both hybrid and electric engines and new parts for connectivity and artificial intelligence services. Sakamoto said the production changes, set to be completed next year, use robotics and sensors to decrease physical stress on assembly-line workers. They are tailored for a workforce increasingly manned by senior workers and women. Among the innovations for Nissan's so-called intelligent factory is a powertrain mounting system that allows at least 27 configurations to be installed in...

Honda Acquires Drivemode, Developer of Apps for Drivers

10Oct By AdityaNo Comments

ACQUISITION

Honda Acquires Drivemode, Developer of Apps for Drivers

TOKYO, Japan, October 10, 2019 – Honda R&D, a research and development subsidiary of Honda has acquired California-based Drivemode in order to further strengthen Honda’s new value creation in the areas of digital and connected mobility products. With the acquisition, Drivemode became a wholly-owned subsidiary of Honda R&D. Drivemode is a startup that develops and operates smartphone-based connected services, excelling in multiple areas such as the development of the user interface and application as well as cloud-based technologies. Honda R&D and Drivemode have been collaborating and conducting joint development activities since 2015 through the Honda Xcelerator program*, an open innovation program Honda has been pursuing on a global basis*. In April 2019, Honda n...

Volkswagen to Pay $87 Million for Diesel Emissions Scandal

16Sep By AdityaNo Comments

Automobile

Volkswagen to Pay $87 Million for Diesel Emissions Scandal

Volkswagen and a law firm say the German automaker has agreed to pay up to 127 million Australian dollars ($87 million) to settle an Australian class action stemming from its 2015 diesel emissions scandal. The settlement was announced in the Federal Court in Sydney on Monday and has yet to be approved by a judge. Maurice Blackburn law firm says Volkswagen will pay between AU$87 million and AU$127 million, depending on how many owners of the affected 100,000 vehicles sold in Australia join the class action. Volkswagen said in a statement that it made no admission of liability in the settlement. Volkswagen has paid 30 billion euros ($33.5 billion) in fines and civil settlements around the world after it installed software on diesel vehicles to cheat on emissions tests. https:...

BS-VI transition lead to dumping of old Two Wheelers in India

1Jul By PriyankaNo Comments

Automobile

BS-VI transition lead to dumping of old Two Wheelers in India

New Delhi: Terming the transition to Bharat Stage VI (BS-VI) emission norms from April next year as "joker in the pack", Bajaj Auto Ltd has cautioned that there could be dumping of old BS-IV stock in the domestic market, triggering an "unwarranted price war" in the second half of the ongoing fiscal. In its Annual Report for 2018-19, the Pune-based firm said while its motorcycles, three-wheelers and quadricycles will be "fully BS-VI compliant not just on April 1, 2020 but some months earlier, it is difficult to anticipate the state of BS VI readiness of our competitors". "For the industry as a whole, we believe that the joker in the pack will be the tough Bharat Stage VI, or BS VI, emission norms that will come into play from 1 April 2020," the company wrote to its shareholders. ...

Mahindra Electric in talks to supply Electric Vehicle parts

5Jun By AnkitaNo Comments

Automobile

Mahindra Electric in talks to supply Electric Vehicle parts

Mahindra Electric is in talks with global automotive manufacturers to supply electric vehicle parts. The company, a part of the Mahindra Group, will start supplies of such electric vehicle parts to group firm Ssangyong Motor, by early 2021. "Mahindra is investing on aggregates (for electric vehicles) which is the battery packs, motor transmission and power electronics. It is an industry at a very nascent stage, we have already said we will be happy to supply those parts to anybody, any original equipment manufacturer (OEM) in India or abroad," Mahindra Electric CEO Mahesh Babu said. The group has announced Rs 1,000 crore investment in the next three years, increasing the capacity to over 70,000 units per annum from the current 15,000 units. Moreover, it is also setting up a st...

Toyota AI Ventures Launch a $100M Fund for early age startups

2May By PriyankaNo Comments

Automobile

Toyota AI Ventures Launch a $100M Fund for early age startups

LOS ALTOS, Calif. (May 2, 2019) – Silicon Valley-based venture capital firm Toyota AI Ventures announced a new $100 million fund dedicated to investing in early-stage startups developing disruptive technologies and business models in the autonomous mobility and robotics markets. Toyota AI Ventures is a subsidiary of Toyota Research Institute (TRI). In less than two years, Toyota AI Ventures has invested in a diverse portfolio of 19 startups. Fund II brings the firm’s total assets under management to more than $200M to invest in and support promising startups around the world.“Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry,” said Jim Adler, managing director of Toyota AI Ventures. “Investing in startups creates long-ter...

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

22Mar By Press Trust of IndiaNo Comments

Automobile

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

New Delhi: Bajaj Auto and Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG. As per the offer, Pierer Industrie still retains the controlling majority over KTM Industries AG. "Pierer Industrie AG and Bajaj will now evaluate the proposals in detail. The transaction decision is targeted to be made in the second quarter of 2019," Bajaj Auto said in a regulatory filing Thursday. At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG. The listed company KTM Industries AG holds approximately 51.7% of the shares of KTM AG. "If Pierer Industrie AG and Bajaj decide to execute the transaction, KTM Industries AG will examine the legal and economic requirements and cond...

Volkswagen to cut 7,000 jobs for 5.9 billion euros annual savings

13Mar By PriyankaNo Comments

Automobile

Volkswagen to cut 7,000 jobs for 5.9 billion euros annual savings

Germany based automobile brand Volkswagen said it will cut down its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros worth of annual savings at its core Volkswagen brand by 2023 in a bid to raise Volkswagen’s operating margin to 6 percent. The Wolfsburg, Germany-based carmaker Volkswagen has ruled out compulsory layoffs until 2025, but early retirement will help to reduce its workforce between 5,000 and 7,000 positions, the carmaker said. “The measures from the earnings improvement programme will enable our brand to achieve a competitive return level of six percent in 2022,” Arno Antlitz, Volkswagen brand’s board member for controlling, said in a statement. The cuts will be realized through voluntary staff turnover and partial retirement, while temp...

Hero MotoCorp sets up R&D centre in Germany

30Jan By AdityaNo Comments

Automobile

Hero MotoCorp sets up R&D centre in Germany

Two-wheeler major Hero MotoCorp Wednesday announced setting up of its first research and development (R&D) center near Munich in Germany. A wholly-owned subsidiary of Hero MotoCorp Ltd, Hero Tech Center Germany GmbH, is located at Stephanskirchen near Munich. It will operate in tandem with Hero's Global R&D hub, the Center of Innovation and Technology (CIT) in Jaipur, the company said in a statement. "Setting up of the Hero Tech Center Germany is a realisation of our aspiration to build an R&D ecosystem that is spread across global geographies,"Hero MotoCorp chairman Pawan Munjal said. He added that the center in Germany will be a source of modern technologies with a focus on the global cust...

Ford Expands Self-driving Vehicle Program to Washington, D.C.

23Oct By Gauri SinghNo Comments

Automobile, USA

Ford Expands Self-driving Vehicle Program to Washington, D.C.

The automobile major Ford is reportedly coming up with its autonomous vehicles in Washington, D.C. which would become the fourth city to join the automaker’s testing program. The company is preparing to roll out a self-driving taxi and delivery service in 2021. It will start testing its self-driving vehicles in the district in the first quarter of 2019 which it is already testing in Detroit, Pittsburgh and Miami. Ford is a bit different from other companies that have launched autonomous vehicle pilots in the U.S. The company invested $1 billion in Argo AI which would be developing the virtual driver system and high-definition maps designed for Ford’s self-driving vehicles. In the meantime, the automobile maker is testing its go-to-market strategy through pilot programs with partne...

Bajaj Auto Announces Rs 2 Cr Contribution for Kerala Flood Relief

22Aug By Press Trust of IndiaNo Comments

Automobile, News

Bajaj Auto Announces Rs 2 Cr Contribution for Kerala Flood Relief

India's one of the leading automobile company Bajaj Auto announced a contribution of Rs 2 crore in aid of flood-hit Kerala. While Rs 1 crore is being contributed directly to the Chief Minister's Relief Fund, the balance Rs 1 crore will be deployed by Jankidevi Bajaj Gram Vikas Sanstha (JBGVS), for distribution of survival kits, the company said in a statement. The contribution is in addition to the Rs 50 lakh already contributed by various Bajaj Trusts, it added. JBGVS is an institution that undertakes various corporate social responsibility initiatives of Bajaj Auto. "Through this amount, Bajaj Auto aims to support at least 1,000 families with a basic startup kit for those who have been affected by the floods," the statement said. Bajaj Auto President (Intra-city Business) ...

Hero Motocorp Sold 75 Lakh Motorcycles and Scooters in 2017-18

1Apr By NitishNo Comments

BUSINESS

Hero Motocorp Sold 75 Lakh Motorcycles and Scooters in 2017-18

India's largest two-wheeler company Hero MotoCorp has crossed the 75 lakh units sales mark in 2017-18 fiscal year. The automobile company has sold 66.6 lakh bikes and scooters in 2016-17, becoming the first company to achieve such milestone globally. As per the press release, the automobile maker is now targeting 1 crore unit sales by the year 2020. On March 28, three days ahead of the close of the current financial year 2017-18, the company has surpassed 75 lakh unit sales mark. In order to achieve sales targets, the company has lined up a slew of new launches in the next fiscal to consolidate its market leadership. The company continues to hold more than 50 percent market share in the motorcycle segment. "We plan to launch four new products in the financial year 2018-19 in th...