Toyota’s, Nissan’s global sales fall short of Volkswagen’s

Business 01/30/19, 02:45

Toyota Motor Corp. sold 10.59 million vehicles globally last year, fewer than the 10.83 million delivered by German rival Volkswagen AG, the Japanese automaker said Wednesday.Separately, Nissan Motor Co. said its global sales totaled 5.65 million vehicles last year, while Renault SA of France, which owns 43 percent of Nissan, ...

White House expresses ‘disappointment’ at General Motors

Business 11/27/18, 15:22

President Donald Trump said Tuesday that he was "very disappointed" that General Motors was closing plants in the United States and warned that the White House was "now looking at cutting all GM subsidies," including for its electric cars program.Trump unleashed on Twitter a day after GM announced it would ...

Chinese automaker Zotye plans to sell vehicles in US in 2020

Business 11/15/18, 00:35

Chinese automaker Zotye Auto said it plans to start selling vehicles in the United States in 2020.Zotye said it will work with an American partner, HAAH Automotive Holdings. The companies said Wednesday the first model for the U.S. market will be an SUV but gave no details.Zotye joins Chinese automakers ...

Tesla secures land in Shanghai for first factory outside US

Business 10/17/18, 01:39

Electric auto brand Tesla Inc. said it signed an agreement Wednesday to secure land in Shanghai for its first factory outside the United States, pushing ahead with development despite mounting U.S.-Chinese trade tensions.Tesla, based on Palo Alto, California, announced plans for the Shanghai factory in July after the Chinese government ...

Report: Uber IPO could put company value at $120 billion

Business 10/16/18, 09:52

Uber may put forth an initial public offering early next year that values the ride-hailing business at as much as $120 billion, according to a media report.The Wall Street Journal said Tuesday that Uber Technologies Inc. received valuation proposals from Goldman Sachs and Morgan Stanley. There is no guarantee Uber ...

Toyota, SoftBank setting up mobility services joint venture

Business 10/03/18, 21:03

Japan's No. 1 automaker Toyota Motor Corp. and technology giant SoftBank Group Corp. say they are setting up a joint venture to create mobility services.The companies said the venture, Monet Technologies Corp., will be running by the end of March. It will work on on-demand vehicle services, food deliveries and ...

GM, Honda team up to produce self-driving vehicles

Business 10/03/18, 08:46

General Motors and Honda will team up on self-driving vehicle technology as big automakers and tech giants race to be first in their development.Honda Motor Co. will invest $2.75 billion in the autonomous vehicle unit run by General Motors Co., called GM Cruise. The two automakers are already partnering on ...

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