Hyundai and Kia bet on London startup for electric cars

LONDON, United Kingdom  (AFP) — South Korea’s Hyundai and its Kia affiliate announced plans Thursday for a major investment in London-based startup Arrival to produce next-generation electric vehicles that cost less than standard-engine models. The 100-million-euro ($110 million) bet on the five-year-old technology firm comes as some manufacturers abandon Britain because of uncertainties about how it will trade with EU nations once it leaves the bloc this month. Arrival is focused on designing and producing […]

Koenigsegg, a supercar challenging Swedish stereotypes

by Helene DAUSCHY Agence France-Presse ÄNGELHOLM, Sweden  (AFP) — For a quarter century, Koenigsegg has been making supercar’s for a niche market typically reserved for Italian luxury brands, while challenging perceptions of Swedish modesty. With brands like Volvo — which introduced the three-point seat belt — and Saab, Sweden distinguished itself in the 20th century as a maker of reasonable priced family-friendly cars that put safety first. But in a workshop in the southern town of […]

Ferrari plans electric car debut only ‘after 2025’

MILAN, Italy (AFP) — Italian sports car maker Ferrari is likely to launch its first fully electric model only after 2025, its boss said on Thursday, blaming insufficient battery technology for the wait. “We certainly are studying fully electric,” Louis Camilleri told reporters, but added that “for the current foreseeable future” hybrids were the preferred option. “My sense is the electric (car) will come out after 2025. The battery technology is not where it should […]

Honda recalls another 1.6 mn vehicles in US over air bags

  WASHINGTON, United States (AFP) — Honda said Friday it will recall 1.6 million vehicles in the US as it moves toward wrapping up the process of replacing defective Takata air bags in cars sold in America. Honda said the plan involves Honda and Acura vehicles with air bag inflators used in earlier recall repairs. The company said this recall is being done six months ahead of a deadline set by the US National Highway […]

Tesla to stop selling $35,000 Model 3 online

NEW YORK, United States (AFP) — Tesla has pulled the plug on Internet sales of its cheapest Model 3 sedan in the latest shift to the company’s retail strategy. The electric car maker plans to keep taking online orders for the Standard Plus Model 3, which starts at $39,500 and is now the lowest-price option available to digital consumers, along with higher-end models. But online customers will no longer be able to order the Model […]

Winterfest event opens facility doors to car enthusiasts, showcases modified vehicles

  FREMONT, California (Eagle News) — On a brisk Saturday in the bay area city of Fremont, California, car enthusiasts had the opportunity to tour the facilities of one of the most well known Euro car tuners, 034 Motorsports. 034 is most known for its ability to unlock power and speed potential from vehicles under the Audi/ Volkswagen platform through performance modifications. During this annual event called Winterfest, visitors showcased their vehicles at the 034 Motorsports […]

Honda to close UK plant in 2022, risking 3,500 jobs: reports

LONDON, United Kingdom (AFP) — Japanese car giant Honda is expected to announce the shutdown of its plant in south west England in 2022, putting 3,500 jobs at risk, media reports said Monday. The carmaker is to announce the closure of its Swindon plant on Tuesday, according to Sky News, but still keep its European headquarters in nearby Bracknell. Nissan and Ford have also warned that jobs could be lost at British plants as Britain […]

Amazon invests in electric vehicle startup Rivian

SAN FRANCISCO, United States (AFP) — Electric vehicle startup Rivian on Friday announced a $700 million investment round led by Amazon, which recently pumped money into a young self-driving car technology firm. Details of Amazon’s stake in US-based Rivian were not disclosed, but the company said it will remain independent. The potential Tesla rival late last year unveiled an electric pickup truck and an electric sport utility vehicle at an auto show in Los Angeles. […]

Nissan downgrades full-year forecast, logs nine-month profit fall

TOKYO, Japan (AFP) — Japanese automaker Nissan, rocked by the arrest of former chairman Carlos Ghosn, on Tuesday revised downward its full-year forecast as nine-month net profit dropped more than 45 percent. It was Nissan’s first earnings report since Ghosn was arrested on November 19 and then sacked as chairman. He is in detention facing charges of financial misconduct. The firm’s bottom-line profit fell 45.2 percent to 316.7 billion yen ($2.9 billion), said Nissan — […]

Tata Motors shares plunge 30% on Jaguar woes

MUMBAI, India (AFP) — Shares in India’s Tata Motors tanked almost 30 percent on Friday after problems at its Jaguar Land Rover unit dragged the luxury car-maker to India’s biggest quarterly loss. The Mumbai-based manufacturer has been badly hit by falling demand for luxury cars in China, as well as uncertainty over Brexit and rising debt. It announced Thursday a net loss of 270 billion rupees ($3.8 billion) for the quarter ending December owing to […]

Toyota cuts full-year profit forecast, warns over Brexit

by Natsuko FUKUE Agence France-Presse TOKYO, Japan (AFP) — Japanese car giant Toyota slashed its full-year net profit forecast Wednesday after saying its nine-month figure had tumbled nearly 30 percent as it was hit by investment losses. The firm’s senior managing officer Masayoshi Shirayanagi also told reporters there was no way to avoid a negative impact in the event of a no-deal Brexit — days after fellow Japanese carmaker Nissan announced a cut in production […]

Apple puts brakes on car team but keeps eye on road

SAN FRANCISCO, United States (AFP) — Apple acknowledged Thursday that it has trimmed its team devoted to self-driving car technology but stressed that its still in the race. Apple’s comment came in response to a CNBC report that the staff of a secretive Project Titan was reduced this week by more than 200 people, some of whom were transferred to jobs elsewhere at the California-based technology group. “We have an incredibly talented team working on […]