China car market heads for unprecedented second annual drop

Business Dec 10, 2019

China car market heads for unprecedented second annual drop

Car sales in China continued to decline in November, extending a historic slump and all but ensuring a second straight annual drop for the world's biggest auto market. Sales of sedans, sport utility vehicles, minivans and multipurpose vehicles fell 4.2 percent from a year earlier ...

GM loans Ohio plant buyer $40 million to launch electric truck

Business Dec 10, 2019

GM loans Ohio plant buyer $40 million to launch electric truck

General Motors Co. loaned the buyer of its half-century-old assembly plant in Ohio $40 million to help the cash-strapped startup roll out an electric pickup truck. The transaction to support Lordstown Motors Corp. and its debut model, called Endurance, is essentially a mortgage, Jim Cain, ...

Sumitomo to invest in Taiwan's top electric bus-maker

Business / Corporate Nov 13, 2019

Sumitomo to invest in Taiwan's top electric bus-maker

Trading house Sumitomo Corp. will spend some ¥500 million ($4.5 million) by February 2020 to acquire a 6.7 percent stake in Taiwan's top electric bus-maker, RAC Electric Vehicles Inc. The two will seek to capitalize on the Taiwan government's plan to replace 15,000 conventional buses ...

Volkswagen unveils new Golf as end of gasoline era nears

Business Oct 25, 2019

Volkswagen unveils new Golf as end of gasoline era nears

Volkswagen unveiled the newest incarnation of its iconic Golf hatchback on Thursday, counting on the bestseller to help fund a costly switch to the electric era and bridge the gap to the cars of the future. The eighth generation of the unglamorous but trusted compact ...