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Tech, Regulatory Snags Slow GM Plan for Robo-Taxis
7/1/2019Regulatory and technical issues make it unlikely that General Motors Co. will meet its target of launching a driverless-taxi service by the end of this year, Automotive News says.
EU Cinches “Historic” Trade Pact with South America
6/28/2019The European Union and Mercosur, South America’s trade powerful economic bloc, have completed a broad bilateral trade agreement to lower or remove tariffs in both directions.
Tesla Blames Shanghai Car Fire on Battery Module Failure
6/28/2019Tesla Inc. says a highly publicized fire that broke out in one of its parked electric cars in Shanghai two months ago was caused by the failure of a single battery module.
OPEC Expected to Extend Production Quotas
6/28/2019The Organization of the Petroleum Exporting Countries is expected on Monday to extend its production quotas in a continuing effort to prop up the price of oil.
Traton Shares Stall on Opening Day of Trading
6/28/2019Shares in Volkswagen Group’s Traton commercial truck unit debuted on the Frankfurt exchange at their placement price of €27 ($30.71) today, closing at €26.49.
Workers Ratify Rich Contract at Faurecia Plant in Michigan
6/28/2019Workers at a Faurecia SA factory in Saline, Mich., overwhelmingly approved a labor contract that includes a 56% pay hike for new hires, according to the United Auto Workers union.
BMW: Diesels Will Survive at Least 20 Years
6/28/2019BMW AG predicts that diesels will continue to be sold in the global auto market for at least 20 more years, and gasoline engines will survive at least 30 years.
ACEA Cuts European Sales Outlook to 1% Decline
6/28/2019ACEA, Europe’s automotive trade group, says it now expects that sales of passenger vehicles within the European Union will dip 1% to about 15 million units in 2019.
Five More Japanese Carmakers Join Toyota-Softbank Venture
6/28/2019Monet Technologies Corp., the 8-month-old joint venture between Softbank and Toyota to develop autonomous ride-hailing and delivery services, has signed up five more Japanese carmakers.
Macron: No Need for France to Reduce Renault Stake
6/28/2019French President Emmanuel Macron has raised new concerns about the future of the Renault-Nissan alliance by declaring there is no need for France to reduce its 15% stake in Renault.