43 Articles
Germany casts a wary eye toward Chinese firms owning 20% of Daimler

BAIC is buying up stock to surpass Geely's stake

Germany is closely monitoring developments at Daimler after a second Chinese company moved to take a big stake in the maker of Mercedes-Benz cars, an economy ministry official said on Thursday. Reuters reported on Sunday that Daimler's main Chinese joint venture partner BAIC planned to double its stake to around 10% in order to upstage rival Chinese automaker Geely, which owns 9.69% of the German company. "So the Economy Ministry is naturally monitoring the situation closely," the o

Elio Motors lands $2.5 million investment from Overstock.com

'ElioCoin' cryptocurrency would also fund three-wheeler's production

Troubled three-wheel car startup Elio Motors is getting a $2.5 million lifeline from online retailer Overstock.com to help it pay off debts and accounts payable and fund capital expenditures. Elio simultaneously announced plans to launch a security token offering of a "ElioCoin" cryptocurrency to help it put the vehicle into production.

/ 3