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Ford Motor , which operates two auto plants in Germany, has applied for 500 million euros ($582 million) of German loan guarantees aimed at cushioning the impact of the COVID-19 pandemic, business daily Handelsblatt reported on Monday. While Germany has given coronavirus-related aid to companies such as auto parts supplier Leoni , Ford would be the first major carmaker in the country to receive such help from the government. The auto sector, one of the key pillars of Germany's
The Italian will also be F1 president with Carey, who led the revamping of the sport following the 2017 ouster of former supremo Bernie Ecclestone, moving to the position of non-executive chairman. Speaking to reporters at the Russian Grand Prix before the announcement, Horner said Domenicali's appointment would be great for the sport.
Hamilton's Mercedes teammate Valtteri Bottas cruised to the win Sunday after Hamilton, who was leading, was penalized 10 seconds for practicing his starts in the wrong place before the race. Hamilton came into the race looking to match Michael Schumacher’s record of 91 wins in Formula One but had to settle for third behind Bottas and Max Verstappen.
India plans to offer $4.6 billion (3.6 billion pounds) in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters. A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister Narendra Modi, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted. The pro
When 32-year-old photographer Jaco Xu needed a run-around car for work in the eastern city of Hangzhou, the price tag on the latest micro EV from GM's China joint venture overcame his qualms about electric vehicles. Xu paid 38,800 yuan ($5,735) for his tiny two-door Wuling Hong Guang MINI EV, while the basic model retails for just 28,800 yuan ($4,200), making it China's cheapest EV. Launched in July, the Wuling MINI is heading a trend towards a new segment of EVs in China following chan
China's electric vehicle startups are on the charge again, thanks to Tesla. The country's growing fascination with the U.S. pioneer's sleek designs and cutting-edge technology is giving a string of second-wave home-grown Tesla wannabes the traction to raise more funding, expand production and boost sales. Chinese EV startups NIO , XPeng Inc , Li Auto and WM Motor have raised more than $8 billion (£6.27 billion) between them this year and now rival Aiways is plann
Parisian commuters in their thousands reacted to the COVID-19 epidemic by ditching public transport and walking or biking instead, but now they find themselves fighting each other for space on the crowded streets. Twice daily during rush hour, throngs of cyclists teem through central Paris, in many places using cycle lanes specially widened to encourage people to avoid cramming into the metro where they risk spreading the disease. At junctions and pedestrian crossings, the flow of cyclists int
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We all know it's not exactly the smartest thing in the world to drive around with your check engine light on, but many of us are guilty of doing it anyway. Luckily, it's easy to diagnose exactly what your check engine light is telling you; all you need in most cases is an OBD2 scanner. There are ton
BMW will pay an $18 million fine to settle allegations that it inflated its monthly U.S. sales numbers for five straight years. BMW disclosed the misleading information while raising about $18 billion in several corporate bond offerings, the agency said. The actions helped BMW maintain a leading retail sales position among other luxury automakers, the agency said.
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