AUTO TRAVEL NEWS - Page 6

General Motors to slash 14,700 jobs in North America

China’s Great Wall to buy GM’s last India plant

January 18, 2020 01:07 IST

China's biggest SUV maker, GWM will officially debut its Haval brand and electric vehicles at the upcoming Auto Expo and launch its Indian market plan.

Audi launches crossover SUV Q8 in India, price starting from Rs 1.33 cr

January 15, 2020 19:57 IST

Audi, which once enjoyed a leadership position in the Indian luxury car segment, has devised a strategy for this year and next five years, with a focus on customers, products, network, and digitalisation to revive its growth prospectors in India.

FILE -- Tesla automobiles at parking spots with electric chargers in Burbank, Calif., April 25, 2019. Even though sales of electric autos in 2019 were double those from the year before, the tipping point for electric autos is still in the future — but automakers are betting big on that future. (Philip Cheung/The New York Times)

Zero to 60 in 2.2 seconds? 10 electric vehicles to watchSubscriber Only

January 1, 2020 16:00 IST

Sales of electric autos were double those from the year before, but they were still dwarfed by their fossil-fuel-powered brethren.

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Former Uber CEO Kalanick to resign from company’s board

December 24, 2019 21:58 IST

Uber turbocharged the gig economy and since 2010 has logged 15 billion trips. Kalanick was ousted as CEO in the summer of 2017 with the company mired in numerous lawsuits.

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Automobile sector is in transition phase, no threat of job losses: Govt in Rajya Sabha

December 10, 2019 13:39 IST

Passenger vehicle sales in India rose marginally in October aided by positive festive season sentiment and introduction of new models in utility vehicle space, just about managing to snap 11 continuous months of decline in sales, according to figures released last month by auto industry body.

This price increase shall vary for different models, Maruti Suzuki India said. (Representational image)

Maruti recalls 63,493 units of Ciaz, Ertiga, XL6 to fix faulty component

December 7, 2019 04:36 IST

A possible defect may have occurred in the MGU during manufacturing by an overseas global part supplier, the company said, adding that vehicles requiring replacement of faulty part will be retained for part replacement free of cost.

Hyundai Motor Co. will spend 20 trillion won ($17 billion) over the next six years on new technology to help make the switch to electric and autonomous vehicles. Announcing its strategic plan to 2025, the South Korean company pledged to spend almost half the new money on electrification. Autonomous driving will soak up 1.6 trillion won of the total, Hyundai said Wednesday. The investment forms part of a surge in spending at Hyundai, which like rivals worldwide faces an expensive future of lower-emissions, battery-powered vehicles. Competitors such as Volkswagen AG have also pledged tens of billions of dollars in investments in electrification. If successful, the plan should create a more profitable business with a global market share of 5% in 2025, up from 4% in 2018, according to Hyundai. Yet most traditional carmakers are heading in the same direction, and all-electric rivals such as Tesla Inc. have a technological head start. That suggests competitive pressures aren’t likely to subside in the next era. German carmakers are set to invest $45 billion in electric vehicles over the next three years, while General Motors Co. is pushing ahead with a plan to sell 20 EV models by 2023. Shares of Hyundai rose 0.4% at 11:49 a.m. in Seoul as the company said it should be more than three times as profitable by the end of the six-year plan. Hyundai wants to widen its operating margin to 8% in 2025 -- up from 2.5% last year -- a level that would make the carmaker among the most profitable on the planet. BMW AG has a margin of 9.3% and Toyota Motor Corp. 8.2%, according to data compiled by Bloomberg, with most other global automakers in the 2%-6% range. Global Sacrifice The transformation will come at a price. Some 27.9 trillion won of costs, the equivalent of $23 billion, will be stripped out of the company in the next three years alone, Hyundai said. That’s part of the sacrifice being made at automakers across the world as the industry tackles a tectonic shift in vehicle technology. At the same time, trade-war tariffs hang over decades-old supply chains that serve a dwindling market. All told, carmakers are cutting more than 80,000 jobs in coming years, according to data compiled by Bloomberg News. The industry will produce 88.8 million cars and light trucks this year, an almost 6% drop from a year ago, according to researcher IHS Markit. Hyundai also said it plans to buy back 308 billion won of shares by early March.

Hyundai commits $17 billion to add electric, driverless carsSubscriber Only

December 4, 2019 10:39 IST

Announcing its strategic plan to 2025, the South Korean company pledged to spend almost half the new money on electrification. Autonomous driving will soak up 1.6 trillion won of the total, Hyundai said Wednesday.

Dubai Duty Free’s Executive Vice Chairman & CEO, Colm McLoughlin

Colm McLoughlin Receives the ABLF Lifetime Achievement Award

November 27, 2019 13:44 IST

Dubai Duty Free’s Executive Vice Chairman & CEO, Colm McLoughlin received the “Lifetime Achievement Award” at the Asian Business Leadership Forum (ABLF) and Awards held yesterday, 6th November at Jumeirah Emirates Tower in Dubai.

Salah Tahlak- Dubai Duty Free Executive Vice President for Corporate Services and Tournament Director of the Dubai Duty Free Tennis Championships

Salah Tahlak Gets Fourth Term on ATP International Group Council

December 5, 2019 04:18 IST

Dubai Duty Free Tennis Championships Tournament Director is the only Arab to be re-elected for four consecutive terms

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Elon Musk: About 150,000 orders thus far for Tesla Cybertruck

November 24, 2019 08:55 IST

"146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor", Musk said in a tweet, adding separately that the orders were achieved without any advertising or paid endorsements.

Tesla unveils its electric pickup truck. It’s pointySubscriber Only

November 22, 2019 13:20 IST

Tesla has unveiled three models of its 'cybertruck': a single-motor rear-wheel-drive for $39,900, a dual-motor all-wheel-drive for $49,900, and a tri-motor all-wheel-drive for $69,900.

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BSVI norms implementation will be key: Passenger vehicle registrations up in Oct; numbers may dip again

November 20, 2019 05:41 IST

With the festive season over and BSVI norms implementation just around the corner, the sales trajectory could dip again, analysts caution.

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An electric Mustang SUV? Detroit’s big sustainability betSubscriber Only

November 18, 2019 14:12 IST

Ford is hoping some of the cachet of the original Mustang will rub off on the new model and boost demand for electric vehicles, which now represent just 2% of the market.