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Tech Startup Poni.ai Secures $112 Million in Funding
1/19/2018Pony.ai, a Silicon Valley-based startup that is testing self-driving cars on public roads in California and China, says it raised $112 million in a Series A funding round that closed earlier this month.
Toyota Aims to Cut Fuel Cell Costs 75% by 2025
1/19/2018Toyota Motor Corp. expects to slash core component costs for its fuel-cell system 50% by 2020 and 75% by 2025.
U.S. Expected to Demand Results in NAFTA Talks Next Week
1/19/2018U.S. negotiators want specific proposals from Canada and Mexico next week about how to update the 24-year-old North American Free Trade Agreement, sources tell Bloomberg News.
VW to Assemble Cars, Launch Ride-Sharing in Rwanda
1/19/2018Volkswagen AG has set up a company in Rwanda that will begin assembling VW-brand Polo and Passat small cars this summer.
GM Avoids $1 Billion Stock Payment in Ignition Switches Deal
1/18/2018A federal bankruptcy judge has tossed out a deal that would have forced General Motors Co. to give as much as $1 billion in stock to help pay victims of the company’s defective ignition switches.
PSA Ponders S. American Partnership, Warns on U.K. Plant
1/18/2018PSA Group CEO Carlos Tavares tells reporters in Detroit he is “very open” to forming an alliance to serve the South American market, Reuters reports.
Renault Group Sales Climb 8%
1/18/2018Renault SA sold a record 3.76 million vehicles last year, compared with 3.47 million in 2016. It was the company’s fifth consecutive year of record-high results.
China Says Its Economy Expanded 6.9% in 2017
1/18/2018China’s gross domestic product expanded by 6.9% last year compared with 6.7% in 2016, according to government data.
Ford Recalls Another 364,500 Vehicles with Takata Airbag Inflators
1/18/2018Ford Motor Co. is recalling another batch of vehicles fitted with passenger-side Takata Corp. airbag inflators that could explode when triggered by a crash.
Ghosn Sets Stage to Exit Renault CEO Role
1/18/2018Carlos Ghosn—the chairman of Renault, Nissan and Mitsubishi—tells French lawmakers that also continuing as CEO of Renault is not sustainable, Bloomberg News reports.