Hyundai Motor Co and sister firm Kia Motors Corp are making the investment of 100 million euros (84.34 million pounds) in Arrival Ltd. Founded in 2015 and based in London, Arrival has developed a boxy, futuristic-looking shuttle bus aimed at the commercial delivery market. In a statement, Arrival said it will work with Hyundai and Kia to develop a variety of electric vehicles, initially for the commercial market.
TOKYO/STOCKHOLM (Reuters) - Sweden's Volvo AB will sell its Japan-based UD Trucks business to Isuzu Motors in a deal worth around $2.3 billion, exiting a low-margin business and boosting its cash pile as competition for high-tech trucking heats up. The deal, announced by the companies on Wednesday, is part of a broader alliance that will see them share advanced technology for electric and self-driving trucks and use their combined heft to cut development costs. Volvo shares
More than 3,000 sexual assaults were reported during U.S. Uber rides in 2018, the company said in a long-awaited safety report. Uber noted that drivers and riders were both attacked, and that some assaults occurred between riders. In 2017, the company said 2,936 sexual assaults were reported.
CNH Industrial's truck unit Iveco on Tuesday unveiled its first electric vehicle, the Nikola Tre, built in partnership with U.S. startup Nikola Motor Co.. The heavy truck will be built for the European market under a deal announced by the two groups in September and is expected to give a boost to Iveco, which as the smallest of Europe's traditional truck makers competes with the might of Volkswagen , Daimler and Volvo Group. "Just three months after we signed our partnership we have
London’s transit authority on Monday refused to renew Uber’s license to operate, with the ride-hailing company vowing to appeal the decision as it struggles to secure its future in the British capital. It’s the latest chapter in Uber’s rocky history with London transport officials, who have subjected the San Francisco-based tech company to ever tighter scrutiny over concerns about passenger safety and security. Transport for London cited “several breaches that placed passengers and their safety
When Deb Fink heard about a company that could drive her 9-year-old son to his after-school program, she balked at the idea of putting him in a car with a stranger. Now she is sold, and grateful for the handful of ride-hailing companies that have emerged at a time when children are expected to accomplish a dizzying array of extracurricular activities and the boundaries between work and home have blurred. Among them are HopSkipDrive, Kango and Zum, hatched as startups primarily led by working m