17 October 2018


  • BMW will lift its stake in its venture with Brilliance China to 75 percent from 50 percent, with the deal closing in 2022. Photo: AFP

    BMW to gain control of China venture in milestone deal

    Oct 11, 2018 2:11pm
    Germany’s BMW said it will take majority control of its main China joint venture for 3.6 billion euros (US$4.2 billion), the first such move by a global carmaker as Beijing starts to relax ownership rules for the...
  • James Murdoch, who is a non-executive director of Tesla, is said to be the frontrunner to take over as the electric carmaker’s chairman. Photo: Bloomberg

    James Murdoch in line to replace Musk as Tesla chairman: FT

    Oct 11, 2018 10:09am
    Outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc chairman, the Financial Times reported on Wednesday, citing two people briefed on the discussions. But in...
  • Schoolchildren pass by a self-driving GM Bolt electric vehicle during a media event in San Francisco last year. Photo: Reuters

    Self-driving cars may hit US roads in pilot program

    Oct 10, 2018 9:30am
    Fully self-driving cars may be on the fast lane to US roads under a pilot program the Trump administration said it was considering, which would allow real-world road testing for a limited number of the vehicles,...
  • Tesla's Model 3 achieved the top rating, five stars, under the safety ratings program of the US National Highway Traffic Safety Administration, along with several other vehicles. Photo: Reuters

    US agency says Tesla safety claim goes beyond its analysis

    Oct 10, 2018 9:07am
    Tesla Inc. claimed its Model 3 electric car has the lowest risk of occupant injury of any vehicle in US government tests, but the National Highway Traffic Safety Administration said the claim goes beyond the scope...
  • Aside from ride-hailing, Grab offers other services such as food and parcel deliveries, electronic money transfers, micro-loans and mobile payments. Photo: AFP

    Microsoft to invest in Southeast Asian ride-hailing firm Grab

    Oct 9, 2018 9:21am
    Microsoft Corp. is investing in Southeast Asian ride-hailing firm Grab as part of a partnership that the two companies said will allow them to collaborate on technology projects, including big data and artificial intelligence, Reuters reports....
  • Cadillac’s Super Cruise did “the best job of balancing high-tech capabilities with ensuring the car is operated safely and the driver is paying attention”, Consumer Reports said. Photo: AFP

    Cadillac edges Tesla in semi-automated driving test

    Oct 5, 2018 8:36am
    General Motors Co.’s Cadillac outscored Tesla Inc. in a new ranking of partially automated driving systems tested by Consumer Reports. The highly influential nonprofit organization, which tests and rates a variety of consumer products from mattresses...
  • Elon Musk's latest tweet mocking the US regulator came just days after he settled charges that he had misled investors by claiming that he had secured funding to take the company private. Photo: AFP

    Tesla’s Musk mocks SEC as judge demands they justify settlement

    Oct 5, 2018 7:35am
    Tesla Inc.’s Elon Musk mocked the US Securities and Exchange Commission, just hours after a federal judge ordered him and the regulator to justify their securities fraud settlement, which let Musk remain chief executive, Reuters reports....
  • Honda’s investment boosts the value of Cruise to US$14.6 billion – about a third of GM’s US$48 billion market cap. Photo: Reuters

    Honda to invest US$2.75 billion in GM’s self-driving car unit

    Oct 4, 2018 8:07am
    Honda Motor Co. Ltd. will invest US$2.75 billion and take a 5.7 percent stake in General Motors Co.’s Cruise self-driving vehicle unit, to jointly develop autonomous vehicles for deployment in ride services fleets around the world,...
  • Under a settlement with the US Securities and Exchange Commission, Tesla and Elon Musk will pay US$20 million each to the regulator and Musk will step down as chairman but stay as CEO. Photo: Reuters

    Tesla shares jump on Model 3 numbers, Musk deal

    Oct 2, 2018 8:46am
    Shares of Tesla Inc. jumped by almost 18 percent on Monday as chief executive Elon Musk settled a lawsuit that had threatened to force him out and said a surge in third-quarter production had driven it...
  • Cathay Pacific will levy a fuel surcharge of HK$625 for long-haul flights and HK$146 for short-haul ones. Photo: Bloomberg

    Cathay set to reimpose fuel surcharges from November

    Sep 28, 2018 4:52pm
    After their suspension for two years, Cathay Pacific Airways will reintroduce fuel surcharges in a bid to ease the airline’s cost pressure, the Hong Kong Economic Journal reports. “A fuel surcharge will be included on all...
  • Elon Musk ‘knew or was reckless in not knowing’ that his tweets about taking Tesla private at US$420 a share were false and misleading, the US SEC says. Photo: Reuters

    SEC sues Musk for fraud, seeks his removal from Tesla

    Sep 28, 2018 9:36am
    US securities regulators on Thursday accused Tesla CEO Elon Musk of fraud and sought to remove him from his position at the electric carmaker, alleging that he misled investors with false public statements. In a lawsuit...
  • Chinese ride-hailing giant Didi is facing closer government scrutiny as well as competition from state-backed entities. Photo: Reuters

    Didi faces intensifying competition from state rivals

    - Sep 28, 2018 8:52am
    Chinese ride-hailing platform Didi Chuxing has encountered serious setbacks lately. Adding to the challenges, several state-linked entities are launching online ride-hailing services to compete with the top private player. Didi has dominated China’s ride-hailing market after...
  • The 2016 data breach exposed personal data from 57 million Uber accounts, including 600,000 driver’s license numbers. Photo: Bloomberg

    Uber to pay US$148 million to settle data breach cover-up

    Sep 27, 2018 8:34am
    Uber Technologies Inc. will pay US$148 million for failing to disclose a massive data breach in 2016, Reuters reports. The settlement with 50 US states and Washington, DC brings closure to one of several high-stakes legal...
  • The Competition and Consumer Commission of Singapore told Grab to remove its exclusivity arrangements with drivers and taxi fleets. Photo: Bloomberg

    Singapore competition watchdog fines Grab, Uber US$9.5 million

    Sep 24, 2018 4:44pm
    Singapore slapped ride-hailing firms Grab and Uber with fines and finalized restrictions to open up the market to competitors after concluding that their merger in March has driven up prices, Reuters reports. Uber Technologies Inc. sold...
  • Porsche, which is preparing to launch next year its first fully-electric sports car, Taycan, has announced that it will stop producing diesel vehicles. Photo: Bloomberg

    Porsche abandons diesel cars amid EV push

    Sep 24, 2018 9:17am
    Porsche will stop offering diesel versions of its cars, the Volkswagen unit announced on Sunday, outlining its aim to sharpen focus instead on hybrid and battery-powered vehicles. “Porsche is not demonizing diesel. It is, and will...
  • Tesla’s stock has lost about 25 percent since its gains after CEO Elon Musk first tweeted In August that he was considering taking the company private. Photo: AFP

    US Justice Dept probes Musk statement on taking Tesla private

    Sep 19, 2018 9:38am
    Tesla Inc. said the US Department of Justice is investigating chief executive Elon Musk’s public statements in August that he was considering taking the electric car maker private, Reuters reports. The Justice Department asked Tesla for...
  • A file picture from April 2017 shows Derek Jenkins, VP of Design at Lucid Motors, introducing the alpha prototype of the Lucid Air at the New York International Auto Show. Credit: Reuters

    Saudi fund to invest US$1 bln in electric car startup Lucid

    Sep 18, 2018 9:30am
    Saudi Arabia’s Public Investment Fund (PIF) has agreed to invest more than US$1 billion in California-based electric car startup Lucid Motors. The funding will enable the American firm to achieve the commercial launch of its Lucid...
  • Volkswagen plans to invest 6 billion euros (US$7 billion) in e-car production. Photo: AFP

    Volkswagen group plans to build 10 million e-cars in first wave

    Sep 18, 2018 9:25am
    Volkswagen plans to build 10 million electric cars based on its new modular MEB platform, targeting to launch worldwide mass production toward the end of 2022, Reuters reports. The company will build 27 models for four group...
  • Tesla hopes to quickly resolve issues related to vehicle delivery logistics, says Elon Musk. Photo: Bloomberg

    Tesla now in ‘delivery logistics hell’, says Musk

    Sep 18, 2018 9:09am
    Tesla is currently struggling more with delivery logistics problems rather than production delays, according to the electric carmaker’s embattled CEO Elon Musk. “Sorry, we’ve gone from production hell to delivery logistics hell, but this problem is...
  • An aerial view of the Tesla Gigafactory near Sparks, Nevada, where a fire broke out on Saturday. Photo: Reuters

    Fire contained at Tesla Gigafactory in Nevada

    Sep 17, 2018 9:44am
    A fire broke out at Tesla’s Gigafactory in Nevada late on Saturday but was contained by early Sunday and production had resumed, Reuters reports, citing emergency officials and the company. Tesla said there were no injuries in...

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