19 Articles
Feb 26, 2020 Official
Toyota bets $400 million on a Pony

Chinese autonomous driving startup Pony.ai raised $462 million in all

HONG KONG/BEIJING (Reuters) - Autonomous driving firm Pony.ai said on Wednesday it has raised $462 million (425 million pounds) in its latest funding round, led by an investment by Japan's largest automaker Toyota Motor Corp. Toyota invested around $400 million in the round, Pony.ai said in a statement, marking its biggest investment in an autonomous driving company with a Chinese background. The investment by Toyota comes at a time when global car makers, technology firms, start-ups and inves

Reuters
Feb 26, 2020 Report
Panasonic pulls out of Tesla solar plant in New York

Panasonic will continue its automotive battery joint venture with Tesla in Nevada

TOKYO/LOS ANGELES (Reuters) - Panasonic Corp said it would exit solar cell production at Tesla Inc's New York plant, the latest sign of strain in a partnership where Panasonic's status as the U.S. electric vehicle (EV) maker's exclusive battery supplier is ending. The move increases uncertainty over Tesla's solar business which is already under scrutiny, having been drastically scaled back since the U.S. firm bought it for $2.6 billion in 2016. Tesla has informed New York that Panasonic's wit

Reuters
Feb 26, 2020 Report
Peugeot maker PSA posts record profits ahead of FCA merger

But coronavirus worries complicate struggles in China

Peugeot maker PSA Group said its profitability reached a record high in 2019 but the French carmaker forecast falling industry sales in Europe this year as it pursues its merger with Fiat Chrysler, which is strong in North America. The group, which also produces cars under the Citroen and DS brands, offset a slump in vehicle sales by selling pricier SUV models, with launches including the Citroen C5 Aircross helping to lift revenues by a higher-than-expected 1% to 74.7 billion euros ($81.2 bill

Reuters
Feb 26, 2020 Followup
Salvage firm changes tune to judge about how to chop up shipwreck, remove 4,200 cars

It's now willing to use method it said would cause 'environmental catastrophe'

Officials from the salvage firm Donjon-SMITH told a U.S. District Court judge they would be willing to dismantle the South Korean freighter Golden Ray using the same large-scale method their written lawsuit condemns as too risky. Judge Lisa Godbey Wood has treated the suit filed Feb. 13 with a sense of urgency as the multi-agency team overseeing removal of the ship prepares to start cutting it apart in May. Wood told Donjon-SMIT officials and their attorneys several times that differences betwe

Associated Press
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