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Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Car vending machines dispense vehicles bought online

    Car vending machines dispense vehicles bought online

    The US motor vehicle industry appear to have removed the last piece of personal interaction involved in the process of purchasing a car, with the launch of car vending machines.

    Shoppers who prefer to bypass physical dealerships can now order and pay for their car online before popping down to a multi-storey building resembling a vending machine to collect their ride.

    NYSE-listed Carvana, a leading eCommerce platform for buying used cars, has launched the latest of its car vending machines in Jacksonville, Florida. The eight storey-high building is fully automated and coin-operated (yes, you did read that correctly) and can house as many as 30 vehicles. Carvana says the buildings “give customers a unique and memorable pickup experience” for cars they buy online.  It is the seventh such building Carvana has opened, the others being in Houston, Austin, San Antonio and Dallas in Texas, Nashville, Tennessee and Raleigh North Carolina.

    Carvana says its system appeals to customers because instead of spending hours walking around dealerships, customers who choose Carvana can search through the company’s national inventory of 7000 vehicles and finance and purchase their car completely online. From start to finish, the entire process takes as little as 10 minutes. All vehicles in Carvana’s inventory have passed a 150-point inspection and have never been in a reported accident or have frame damage. All features, imperfections and updated information about open safety recalls are listed on the car’s vehicle description page.

    Once the online purchase is complete, customers can choose to have their car delivered as soon as the next day, or pick it up from one of the car vending machines. Customers who choose  the vending machine option will receive a commemorative, oversized Carvana coin on-site to activate the vending process and transport the car into the delivery bay. Customers then have a seven-day, money-back guarantee, giving them the chance to see if the vehicle really fits their life. If they aren’t satisfied, they can return the vehicle for a full refund.

    Ernie Garcia, founder and CEO of Carvana says he wants to “bring some fun back into the car buying process”.

    Vehicle pickup at any of Carvana’s car vending machines is free for customers. Those who live outside the metropolitan delivery area but would still like to pick up their car at a vending machine, Carvana will subsidise $200 for an airfare and arrange “white glove transportation” from the airport.

    Founded in 2012 and based in Phoenix, Arizona, Carvana says its mission is to change the way people buy cars.

    “By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online automotive retail platform. A fully transactional website enables consumers to quickly and easily buy a car online, including finding their preferred vehicle, qualifying for financing, completing the purchase and loan with signed contracts, and receiving delivery or pickup of the vehicle,” the company says in a statement.

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  • Magna joins BMW-Intel self-driving car project

    Magna joins BMW-Intel self-driving car project

    Canadian auto parts producer Magna International Inc said on Tuesday it had joined a consortium including BMW and Intel Corp to develop a self-driving vehicle platform for the use of auto makers by 2020.

    The move comes as automakers are increasingly seeking alliances to share the high costs of developing self-driving vehicle technology, which requires extensive research and development and software expertise outside the traditional domain of carmakers.

    Magna is the latest addition to the BMW-Intel alliance, which aims to develop new technology that could put self-driving cars on the road by around 2021. (reut.rs/2y9llha)

    The consortium also includes Mobileye, Fiat Chrysler and auto suppliers Delphi Automotive and Continental AG.

    Earlier this year, Intel bought Mobileye, the world’s largest supplier of systems used in automotive collision detection systems, for $15 billion.

    Magna will also help automakers industrialize the platform designed by the consortium, the Canadian company in a statement.

  • Denso to invest $1 billion creating 1,000 jobs

    Denso to invest $1 billion creating 1,000 jobs

    Japanese auto parts supplier Denso Corp plans to invest $1 billion in its Maryville, Tennessee plant to develop vehicle electrification and safety systems, creating around 1,000 jobs.

    This is the latest in a series of announcements from automakers rushing to bring a large number of electric vehicle models to market in the coming years.

    Policymakers in key markets such as China are pushing a shift to electric cars from internal combustion engines over the next two to three decades, while relatively new rival Tesla is gaining momentum, pressuring traditional automakers to crank up plans for fully electric vehicles.

    Denso said in a statement the investment would expand multiple production lines at the facility to produce advanced safety, connectivity and electrification products for hybrid and electric vehicles. The new jobs will include production workers, technicians and engineers.

    “We are seeing dramatic shifts in the role of transportation in society, and this investment will help position us to meet those changing demands,” Kenichiro Ito, chairman of Denso’s North American board, said in a statement.

    In 2015 the auto supplier announced a $400 million investment in Maryville and the creation of 500 jobs.

    Last week, Toyota Motor announced a joint venture with partner Mazda Motor Corp (7261.T) to develop electric vehicle technology. Toyota will take a 90 percent stake in the joint venture while Mazda and Denso, Toyota’s biggest supplier, will each take 5 percent.

    No. 1 U.S. automaker General Motors said this week it would add 20 new battery electric and fuel cell vehicles to its global lineup by 2023.

    A day later, Ford Motor said it planned to slash $14 billion in costs over the next five years and shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.

  • Ferrari opens new Kuala Lumpur showroom

    Ferrari opens new Kuala Lumpur showroom

    Ferrari has opened a new showroom in Kuala Lumpur in partnership with Naza Italia, the official importer and distributor of Ferrari in Malaysia.

    Located at Naza Platinum Park on the ground flor of Tower 1, Naza Italia has invested RM2.8 million to develop the 3,115 square foot Ferrari City Showroom.

    A second Ferrari outlet for the Malaysian capital, the new showroom showcases three of the latest Ferrari models, and boasts a luxurious customer lounge as well as a configuration and customiszation room.

    The opening is part of the company’s strategy to boost the brand’s presence in the metropolitan area.

    “Substantial growth in business calls for an expansion that will enable us to better serve Ferrari’s discerning clientele,” Naza World Group executive chairman, Datuk SM Faisal SM Nasimuddin, told media at the launch.

    “To address that, we are making the brand more accessible with a showroom in this prime location,” he continued.

    The Naza Platinum Park location compliments Ferrari’s first showroom offering, located in Petaling Jaya.

    “The showroom is somewhat of an appetizer, presenting Ferrari enthusiasts and potential buyers a taste of the latest offerings and a preview of experience provided at the showroom in Petaling Jaya,” he said.

    Naza World also recently invested RM5 million to renovate its debut KL showroom.

    “The upgrade is a reflection of Naza Italia’s commitment to the clientele and to better serve our customers,” he concluded.

  • Jaguar Land Rover store opens at Westfield Bondi Junction

    Jaguar Land Rover store opens at Westfield Bondi Junction

    Australia’s first Jaguar Land Rover retail experience store has opened at Westfield Bondi Junction last week.

    The new-look premium retail experience store covers 290sqm over two floors and showcases display vehicles housed in two state-of-the-art digital vehicle configuration spaces.

    Electronic displays allow customers to “build” their cars on-screen, changing and comparing interior and exterior colours, adding options and also try different wheels and trims to create unique vehicles.

    The auto firm said the space offers a different experience to traditional automotive retail outlets, and is staffed by dedicated product experts.

    The location will offer a full range of Jaguar and Land Rover vehicles on-site at the shopping centre for immediate test drives.

    Jaguar Land Rover Australia’s managing director, Matthew Wiesner, said the new retail experience store’s location puts it right in the heart of one of Sydney’s most upbeat areas.

    “We are very excited to see the first Jaguar Land Rover premium retail experience store in Australia and we are extremely pleased to have worked with our partner Inchcape to bring it to fruition, he said.

    “The location at Westfield Bondi Junction illustrates how changing market trends and buyer demands are bringing the premium retail experiences to shopfront locations.”

    Designed by Centric Architects and built by Reitsma Constructions, the store also carries a complete range of quality, branded merchandise from clothing and accessories to luggage and die-cast models, office items, toys, tees and back packs.

    “This fantastic new facility is in line with our own approach to delivering new, customer-centric ways of experiencing the brands, sophisticated environment that is totally focussed on consumer needs and convenience,” said Nick Senior, CEO of automtive supplier, Inchcape.

  • Renault expects electric cars and emerging markets to boost sales

    Renault expects electric cars and emerging markets to boost sales

    French carmaker Renault expects a first-mover advantage in electric cars and a wider range of vehicles for emerging markets to help it deliver a 44 percent sales increase by 2022.

    Electric cars are “turning into a significant contributor to our performance while other automakers are just starting the journey”, Chief Executive Carlos Ghosn said on Friday.

    Renault’s mid-term plan shows it growing faster than alliance partner Nissan (7201.T), which it trails in China, due to recent investments in Iran and India and a Russian rebound.

    While taking a lead in electric vehicles had come at the expense of profitability, Ghosn expects to turn this around with the launch of eight new battery-powered models and 12 hybrids.

    “Our vision now is a profitable core business,” he said. Renault and Daimler’s (DAIGn.DE) Smart are likely to extend their small-car cooperation into electric models, he added.

    Renault plans to increase annual sales to 5 million vehicles by 2022 from 3.47 million last year while also aiming for a 7 percent operating profit margin and 70 billion euros ($82 billion) in revenue, goals that were announced in February.

    Renault said on Friday that its margin would remain above 5 percent in the intervening years, as it pursues 4.2 billion euros in cumulative productivity gains and invests 18 billion euros in research and development.

    The company also outlined a new dividend policy, promising to increase shareholder payouts to 15 percent of earnings by 2022, from 7 percent last year.

    In addition, it will continue to pass through its own Nissan and Daimler dividends to Renault shareholders. Renault owns 43.4 percent of its Japanese alliance partner and 3.1 percent of the Mercedes-Benz maker.

    Renault’s share price was up 1.5 percent at 86.86 euros at 1100 GMT and the price might be supported in the coming weeks by “management’s increased confidence” over its mid-term goals, Evercore ISI analyst Arndt Ellinghorst said.

    “This is good news in a world where most people fear earnings, cash flow and profitability will fall due to disruption,” Ellinghorst said.

    LOW-COST RANGE

    The market in China, where Renault only began manufacturing last year, is expected to account for half a million sales by 2022.

    Renault’s budget car line-up, starting with the Dacia Logan in 2004, has underpinned the push into emerging markets and spawned a second car platform underpinning the Kwid mini-SUV, which has more than doubled the group’s sales in India.

    Combined sales of the “Global Access” low-cost cars are seen expanding 54 percent to reach 2 million vehicles, or 40 percent of the group total. An expanded utility van range is also expected to contribute to the emerging-markets surge.

    Europe’s share of Renault vehicle deliveries would shrink to 36 percent from 52 percent under the plan, with sales in the home region remaining broadly flat.

    Pure electric cars may rise to about 5 percent of global sales, Ghosn said, adding that the forecast was “probably conservative” and almost certainly wrong.

    Renault has been transformed since 2005 when he took over from a carmaker dependent on French sales of Megane compacts into a “resilient, multi-polar global company”, Ghosn said.

    Ghosn, who also heads the Renault-Nissan-Mitsubishi alliance, has not yet indicated whether he will seek to renew his contract as Renault’s CEO, which expires next year.

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  • Honda to cut Japanese production by a quarter as domestic sales stagnate

    Honda to cut Japanese production by a quarter as domestic sales stagnate

    Honda Motor plans to end production at its Sayama plant in Japan by 2022, cutting domestic capacity by around 24 percent as it shifts focus to electric cars (EVs) and other new technologies.

    The automaker has seen stagnant domestic sales and said on Wednesday it was streamlining its Japanese operations as it takes a more nimble approach to development and manufacturing in the face of fierce competition from carmakers and technology companies to make EVs and self-driving cars.

    “As we focus more on adopting electrification and other new technologies, we want to hone our vehicle manufacturing expertise in Japan and expand it globally,” CEO Takahiro Hachigo told a press conference.

    Hachigo has been trying to revive a culture of innovation at Japan’s No. 3 automaker, after a number of major product recalls in recent years as well as lackluster product offerings, partly because it focused so much on increasing volumes and profit.

    Honda said it would end production at the ageing Sayama plant in Saitama Prefecture north of Tokyo, consolidating output at its Yorii plant in the same prefecture by the end of the 2022 financial year. Most workers currently at Sayama would be transferred to the Yorii facility, it said.

    The move would cut overall domestic annual production capacity to around 810,000 units, the same as Honda’s current output levels, which are around 76 percent of its current production capacity of 1.06 million vehicles.

    “Domestic sales haven’t increased as much as we were expecting and it has become difficult to boost exports,” Hachigo said.

    Following consolidation, Honda said the Yorii plant will produce EVs and serve as a major center for developing manufacturing technology for electric cars. It will also produce other vehicles including larger-sized global models.

    While the automaker cuts capacity at home, it plans to open a new plant by 2019 in China, where it has seen explosive growth. Overall, global annual production would remain largely unchanged at around 5.06 million units, it said.

    Honda has struggled to expand sales at home in the past few years, facing stiff competition from popular offerings including Toyota Motor Corp’s (7203.T) Prius gasoline hybrid and Nissan Motor Co.’s (7201.T), Note compact hatchback.

    In the year ended March, it sold 668,000 units domestically, almost the same as in the previous year.

    With an annual production capacity of 250,000 units, the Sayama plant opened in 1964 and is one of Honda’s oldest plants, producing the Accord sedan, the CR-V SUV crossover and other models.

    The Yorii plant began production in 2013 and also has an annual production capacity of 250,000 units. Its output includes the Fit compact hatchback and the Civic sedan.

    Hachigo also said he was confident Honda was following proper procedures for final vehicle inspection for the Japanese market.

    He said the company was complying with a request from Japan’s transport ministry for inspection records after Nissan said on Monday it would recall 1.2 million vehicles due to procedural irregularities with its final inspection processes.

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  • Australia new vehicle sales dip in September, commercial still strong

    Australia new vehicle sales dip in September, commercial still strong

    Australian new vehicle sales took a dip in September after a run of record months, though continued strength in the commercial sector augured well for business spending in the economy.

    The Australian Federal Chamber of Automotive Industries’ VFACTS report out on Wednesday showed 100,200 new vehicles were sold in September, down 2.4 percent on the same month last year. Both months had the same number of selling days.

    Sales for the year to date were still running 0.2 percent ahead of the same period in 2016.

    Sales of passenger cars extended their long decline with a fall of 9.3 percent in September, and even the red-hot sports utilities sector took a breather with a dip of 1.3 percent.

    Yet demand for commercial vehicles showed no signs of waning with the light sector up 8.1 percent and heavy vehicles jumping 15.4 percent on September last year.

    Toyota Motor Corp retained first place on the sales ladder with a reduced share of 17.3 percent of the market, while Mazda Motor Corp made a strong showing by taking an unusually high 10.3 percent.

    Hyundai Motor held third spot with 8.1 percent, followed by Mitsubishi at 7.1 percent. The Holden unit of General Motors trailed with 6.9 percent, ahead of Ford at 6.8 percent.

  • Ford to cut costs $14 billion, invest in trucks, electric cars

    Ford to cut costs $14 billion, invest in trucks, electric cars

    Ford Motor plans to slash $14 billion in costs over the next five years, Chief Executive Officer Jim Hackett told investors on Tuesday, adding that the No. 2 U.S. automaker would shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.

    Most of those savings will not show up on Ford’s bottom line until 2019 and 2020, Hackett and other Ford executives said, reflecting the industry’s long product engineering lead times.

    Ford will be open to more partnerships to spread the costs and risks of simultaneously developing new technology and services while churning out profit from selling trucks and sport utility vehicles in North America, Hackett said during a nearly two-hour presentation. He cited a partnership with ride services company Lyft to deploy future Ford self-driving cars, an alliance with Indian automaker Mahindra and a potential alliance with Chinese electric vehicle maker Zotye.

    The automaker reaffirmed a goal of achieving 8 percent automotive operating margins and generating returns that exceed the cost of capital. Ford will provide a financial forecast for 2018 in January. Ford Chief Financial Officer Bob Shanks said it could take until 2020 or later to achieve the 8 percent margin goal.

    Other automakers have warned that shifting to all-electric vehicles could undercut profit margins. “I don’t think we should walk off a ledge where we destroy the earnings power of the company,” Hackett said, saying Ford is planning for a third of vehicles to still have internal combustion engines by 2030 – the year some European governments have proposed banning petroleum fueled cars.

    Hackett, former CEO of office furniture maker Steelcase, took the top post at Ford in May after his predecessor Mark Fields was pushed out. At the time, Hackett promised to tell investors after 100 days how he would improve the “fitness” of Ford to compete as the auto industry becomes more digital, more electric and less wedded to selling one vehicle at a time to individuals.

    Ford shares were little changed after hours as Hackett and other executives presented their outlook. Ford shares had risen 2.1 percent on Tuesday, up with other automotive stocks as the industry reported the highest sales pace in a dozen years. However, the company’s share price is down 30 percent since July 2014.

    Hackett has signed off on a series of moves, including a plan to shift production of Ford Focus compact cars from Michigan to China. He also hired a company outsider, Jason Luo, to lead Ford’s business in China, the world’s largest car market, where Ford is revamping operations and looking to expand partnerships in electric vehicles.

    Ford is playing catch up in some areas. By 2019, Ford plans to equip all U.S. models with built-in modems and to install mobile internet connections in 90 percent of global vehicles by 2020, Hackett said.

    Rival General Motors has been installing built-in mobile broadband connections in its U.S. vehicles since 2015 and now has about 7 million 4G LTE connected vehicles on the road globally, a spokesman said on Tuesday.

    Of Ford’s $14 billion in promised cost reductions over five years, $10 billion will come from material costs and $4 billion from reduced engineering costs, Hackett said.

    “We have too much cost across our business,” Hackett said.

    By 2022, Ford plans to cut spending on future internal combustion engines by a third, or about $500 million, putting that money instead into expanded electric and hybrid vehicle development, on top of $4.5 billion previously announced. Ford had already promised 13 new electric or hybrid vehicles within the next five years.

    Ford is “looking to build sustainably profitable BEV (battery electric vehicle) business” in segments where “we have a strong revenue presence,” Jim Farley, head of global markets, told investors.

    Farley also said Ford is looking “carefully” at marginally profitable or unprofitable operations in Europe and Latin America, and could look to partnerships in those markets.

    Electric vehicles will mean auto factories can have a final assembly area that is half the size, requires half the capital investment and 30 percent fewer labor hours per car, said Joe Hinrichs, president of global operations.

    GM on Monday said it planned to launch 20 new all-electric vehicles by 2023.

    One way to cut costs will be to offer fewer variations of Ford’s models, Hackett said. The slow-selling Ford Fusion midsize sedan can now be ordered in 35,000 combinations of features, colors and powertrain options. The future model will come in just 96 combinations, meaning fewer parts to design, produce and store in inventory, Ford showed in a presentation.

    He said Ford also will cut the time it takes to engineer a new car by 20 percent, and invest in “factories of the future” that will occupy less space and use more robots.

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  • Panasonic to launch new auto battery line at ex-TV screen plant in Japan

    Panasonic to launch new auto battery line at ex-TV screen plant in Japan

    Japan’s Panasonic said on Friday it will start producing automotive batteries at its former television screen plant in Japan, accelerating its battery drive to meet anticipated demand for electric vehicles.

    Panasonic, the exclusive battery cell supplier for Tesla’s mass-market Model 3, is reinventing itself as a provider of advanced auto parts to escape the price competition of smartphones and other lower-margin consumer products.

    The new battery production will start at its LCD plant in Himeji, western Japan, in the financial year from April 2019, using space left vacant after it closed its unprofitable TV screen manufacturing business last year.

    The company declined to comment on the size of new investment or the production capacity of the new line.

    The Himeji plant currently produces screens for vehicle dashboards and medical equipment, but output has dropped significantly after it exited TV screen production.

    Panasonic sees batteries as a key driver for its plan to nearly double its automotive business revenue to 2.5 trillion yen ($22 billion) in the year through March 2022.

    Already one of the leading suppliers of automotive lithium ion batteries, it currently has five production sites in Japan.

    It started mass production of battery cells at Tesla’s Gigafactory in Nevada earlier this year and plans to follow suit at a new plant in Dalian, China.

  • China sets 2019 deadline for automakers to meet green-car sales targets

    China sets 2019 deadline for automakers to meet green-car sales targets

    China has set a deadline of 2019 to impose tough new sales targets for electric plug-in and hybrids vehicles, slightly relaxing an earlier plan to launch the rules from next year that had left global automakers worried about being able to comply.

    Car makers will need to amass credits for so-called new-energy vehicles (NEVs) equivalent to 10 percent of annual sales by 2019, China’s industry ministry said in a statement on Thursday. That level would rise to 12 percent for 2020.

    A single vehicle can generate multiple credits meaning the proportion by NEVs by volume would likely be lower.

    The targets, announced by the Ministry of Industry and Information Technology (MIIT), closely mirror previously announced plans, but remove an explicit 8 percent quota for 2018, in effect giving carmakers an extra year grace period.

    The quotas are a key part of a drive by China, the world’s largest auto market, to develop its own NEV market, with a long-term aim to ban the production and sale of cars that use traditional fuels announced earlier this month.

    Global automotive manufacturers, however, had urged a softening of the proposals for all-electric battery vehicles and electric plug-in hybrids.

    Under the rules, car makers will receive credits for new-energy vehicles including plug-in hybrids and fully electric cars that can be transferred or traded. Firms with annual sales volumes above 30,000 units will need to comply with the targets.

    These credits – which will vary depending on the range and performance of the vehicle – will be used to calculate if firms have met their quota, a system which would likely mean the actual proportion NEVs made up of total sales was lower.

    “The rules could result in the production of more than one million EVs annually in China by 2020, or about 4 percent of sales,” Simon Mui, a transport and energy exert at the U.S.-based Natural Resources Defense Council wrote in note.

    GREEN CAR ROLL-OUT

    Carmakers were in general positive about the move.

    “We welcome the Chinese auto industry’s shift towards greater adoption of NEVs and will comply with relevant regulations presented by authorities,” Ford Motor said in a statement responding to the announcement.

    General Motors said it would “strive to comply with the NEV mandatory requirements”, though it added “continued joint efforts by the government and companies are essential to build broad-based consumer acceptance for NEVs”.

    “GM has sufficient capacity to manufacture NEVs in China,” it said in a statement.

    Japan’s Honda Motor said it planned to launch an electric battery car in China next year and would “try to expand our lineup of new energy vehicles” to meet the quotas.

    China is keen to combat air pollution and close a competitive gap between its newer domestic automakers and global rivals. It wants to set goals for electric and plug-in hybrid cars to make up at least a fifth of Chinese auto sales by 2025.

    Reuters reported in August that China would delay the implementation of the NEV quotas until 2019, giving global automakers more time to prepare.

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  • Ford, Lyft will partner to deploy self-driving cars

    Ford, Lyft will partner to deploy self-driving cars

    Ford said on Wednesday it will collaborate with Lyft to deploy Ford self-driving vehicles on the ride services company’s network in large numbers by 2021.

    Ford and Lyft teams will begin working together to design software to allow Ford vehicles to communicate with Lyft’s smartphone apps.

    Ford self-driving test vehicles will be connected to Lyft’s network, but at first, customers will not be able to use them, Sherif Marakby, Ford’s vice president for autonomous vehicles and electrification. Ford will put human-driven vehicles on Lyft’s network.

    He did not say when Ford and Lyft expect to offer the first rides in self-driving cars.

    “We’re not building prototypes for the sake of building prototypes,” Marakby said, adding Ford intends to ultimately put thousands of self-driving vehicles in use.

    Ford’s new Chief Executive Jim Hackett is scheduled to meet with investors on Tuesday to outline the Dearborn, Mich. automaker’s strategy for boosting profitability. Ford shares are down 1.65 percent so far this year, while Detroit rival General Motors shares have risen 15.6 percent, and Fiat Chrysler Automobiles NV shares are up 71 percent.

    Hackett’s plans to compete for revenue from mobility services, which include car sharing and ride-hailing, will be one area of focus for investors. The Lyft partnership fills in a piece of the puzzle.

    Ford also is testing delivery services using self-driving vehicles and a van shuttle service. The self-driving vehicles Ford will deploy through Lyft will use software developed by Argo AI, a company in which Ford is investing $1 billion over the next five years.

    The company has said it will invest $700 million in a factory in Flat Rock, Michigan, to make it capable of building electric and self driving vehicles.

    Lyft has said it will offer an open platform for companies to deploy self-driving vehicles on its network, and has partnerships with self driving vehicle technology startup Drive.ai and Alphabet’s Waymo self driving car unit.

    GM has a 9 percent stake in Lyft, acquired for $500 million in January 2016. “Our relationship with GM has always been a non-exclusive relationship,” Raj Kapoor, Lyft’s chief strategy officer.

    GM is also assembling the assets necessary to launch its own ride services using self-driving cars, building its Maven car-sharing unit and preparing to launch mass production of autonomous Chevrolet Bolt electric cars at a factory in suburban Detroit.

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  • Zoomcar partners with AirAsia for seamless travel

    Zoomcar partners with AirAsia for seamless travel

    Zoomcar, a self-driving car rental portal, has partnered with AirAsia India to provide the latter’s customers an ease and convenience to book Zoomcar for their local and inter-city self-driven transport.

    According to a company press release, one can book for a Zoomcar on AirAsia’s website. The service is available across all metro cities in India and AirAsia guests can log on https://www.zoomcar.com/airasia to avail a Zoomcar.

    The company said that the Zoomcar airport service is gaining popularity especially among working professionals and customers looking for leisure and business travel.

    Customers will get a maximum discount of Rs 1,000 or 20 per cent on the booking. Zoomcar will charge a fully refundable security amount at the time of booking.

    Greg Moran, CEO & Cofounder, Zoomcar, said, “We are excited about the partnership which will further enable the AirAsia guests to experience Zoomcar accessibility at airports with an ease and flexibility.”

    Zoomcar is currently available in 26 cities across India, including metro and non-metro cities. Zoom Hop, one-way intercity travel, is an add-on to customers where a user can pick up a car from one city and drop it to another.

    Amar Abrol, MD & CEO, AirAsia India, said, “We have always believed in going an extra mile to provide the best-in-class customer service to our guests and we are confident that through this partnership, will be able to offer the best mobility to our flyers.”

    AirAsia India currently flies to 16 destinations with its hubs in Bengaluru, New Delhi and Kolkata covering Kochi, Goa, Jaipur, Chandigarh, Pune, Guwahati, Imphal, Vizag, Hyderabad, Srinagar, Bagdogra, Ranchi and Bhubaneswar.

  • Toyota Plans Major Expansion at Five U.S. Manufacturing Hubs

    Toyota Plans Major Expansion at Five U.S. Manufacturing Hubs

    Toyota plans a $373.8 million investment in five U.S. manufacturing plants that will support production of its first American-made hybrid powertrain and to implement its New Global Architecture at its plant in Alabama.

    The investments will include adding new production of hybrid transaxles (hybrid vehicle transmissions) at the Buffalo, West Virginia, manufacturing facility for $115,300,000; expanding 2.5-liter engine capacity at the Georgetown, Kentucky plant amounting to $120,960,000; increasing production of 2.5-liter cylinder heads at Bodine Aluminum’s Troy, Missouri plant for $17,050,000; and modifying the Bodine Jackson, Tennessee plant to accommodate production of hybrid transaxle cases and housings and 2.5-liter engine blocks for $14,500,000. The Huntsville, Alabama, plant will undergo a comprehensive upgrade to enable it to build engines that complement TNGA amounting to $106,000,000.

    Each of the projects is scheduled to begin this year and all should be operational by 2020.

    “This investment is part of our long-term commitment to build more vehicles and components in the markets in which we sell them,” said Jim Lentz, CEO, Toyota Motor North America. “This strategy is designed to better serve our customers and dealers, and positions our manufacturing operations to fulfill their needs well into the future.”

    The 2.5-liter engines manufactured in Kentucky and transaxles made in West Virginia will be used in hybrid vehicles built in North America such as the Highlander Hybrid manufactured in Princeton, Indiana.

    According to company officials, fifty new jobs will be created because of the investment at the Alabama plant. There will be no net gain of jobs at the Kentucky, West Virginia, or Bodine Aluminum facilities, but these investments will help to ensure the stability of the plants’ employment levels in the future.

    “This investment across five American plants expands capacity for our latest TNGA engines, and localizes production of hybrid powertrains, a core Toyota technology,” said Jeff Moore, Senior Vice President for Manufacturing. “It underscores Toyota’s confidence in the capability and global competitiveness of our North American manufacturing.”

    These projects, and others previously announced, move Toyota nearly halfway ($4.1 billion) toward its commitment to invest $10 billion in the U.S. as announced by CEO Akio Toyoda in January 2017.

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  • BMW to build new 8 series at German Dingolfing plant from 2018

    BMW to build new 8 series at German Dingolfing plant from 2018

    Carmaker BMW plans to build its new 8 series model at its plant in the southern German town of Dingolfing from 2018, strengthening the site’s role in the production of premium models in addition to electric vehicle components.

    The plant currently makes BMW’s 3 to 7 series models and expects to beat its record annual output of 369,000 vehicles this year, BMW said in a statement on Saturday.

    It reiterated that its new electric, autonomous iNEXT model was to be built at Dingolfing from 2021, and that the plant will be involved in the supply of electric motor, components and a battery for the electric MINI to be built in Oxford.

    “And that is certainly not the end of it,” Andreas Wendt, head of the plant, said in a statement.

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