Aston Martin plans October IPO worth up to $6.7 billion

September 20, 2018 10:55 CET

LONDON — Aston Martin is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from its stock market flotation and has taken steps to prepare for any eventuality over Brexit, it said on Thursday.

The company said last month it was pursuing an initial public offering (IPO), the first British automaker to do so for decades.

The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct. 3. It Continue reading “Aston Martin plans October IPO worth up to $6.7 billion”

JLR faces fresh Brexit dilemma over UK-built parts

September 20, 2018 10:15 CET

LONDON — Britain’s biggest automaker Jaguar Land Rover is grappling with a fresh Brexit dilemma over the supply of parts to it UK plants.

JLR wants to boost the proportion of parts made in the UK to simplify its supply chains and capture cost-saving economies of scale — but the looming split from the European Union is making it tougher to persuade component makers to expand in the country.

The Coventry, England-based company has been pursuing so-called Continue reading “JLR faces fresh Brexit dilemma over UK-built parts”

Why automotive employment continues to grow globally

September 20, 2018 06:01 CET

Car-industry employees concerned that robots will put them out of work needn’t worry — at least for now. 

Of the 13 publicly traded automakers with at least 100,000 workers at the end of their most-recent fiscal year, 11 had more staff compared with year-end 2013, according to data compiled by Bloomberg. Combined, they had 3.1 million employees, or 11 percent more than four years earlier, the data show.

Carmakers in China and other emerging markets, Continue reading “Why automotive employment continues to grow globally”

Germany to reach EV target later than planned

September 20, 2018 08:07 CET

BERLIN — Germany will likely have to delay its target of having 1 million electric vehicles on the road by two years to 2022, according to a government-sponsored report.

“Considering the current market dynamics, the 1 million target will likely shift to 2022,” the report by the German National Platform for Electric Mobility, which was submitted to Chancellor Angela Merkel on Wednesday, said.

New registrations of electrical vehicles more than doubled in Continue reading “Germany to reach EV target later than planned”

Charging industry agrees on carbon credit standards

Electrify America 350 kw chargers at Home Depot in Chicopee, Mass.

Driving on electricity produces less carbon than driving on gas. Yet in most places, no one gets credit for lowering those carbon emissions.

That is, until now. In an effort to reduce the cost of installing electric-car charging stations, a new agreement by the Electric Vehicle Charging Carbon Continue reading “Charging industry agrees on carbon credit standards”

Standard dash cams coming to Teslas

Tesla Model 3 dashboard in Autopilot testing with IIHS [CREDIT: IIHS]

Tesla chief executive Elon Musk revealed on Twitter that the company plans to make dash cams standard in its products with a new software update rolling out in the next few weeks. 

Since most Teslas already have forward cameras for the Autopilot system, it seems it should be simple for Tesla to enable the feature. 

Many Tesla owners have been asking for a dash cam in their cars.

CHECK OUT: Tesla will roll out Continue reading “Standard dash cams coming to Teslas”

Toyota enters $82 million partnership to roll out hydrogen trucks in Los Angeles port

Toyota Project Portal 2.0 fuel cell-powered semi-trailer truck

After showing its second-generation fuel-cell semi-truck at the Port of Los Angeles in July, Toyota announced last week will build 10 more fuel-cell trucks for the project.

In addition to the trucks, the project will add two new heavy-duty hydrogen filling stations, two new hydrogen forklifts at Toyota’s warehouse at the next-door Port of Long Beach, and two new zero-emissions yard tractors at the nearby Port of Hueneme. Continue reading “Toyota enters $82 million partnership to roll out hydrogen trucks in Los Angeles port”

Aston Martin could be valued up to $6.7B in IPO

Aston Martin logo

Talk of Aston Martin going public by way of an initial public offering (IPO) dates back as far as the brand’s 2008 sale by Ford to a consortium led by Prodrive founder David Richards.

Aston Martin finally made it official in August with the announcement of its intention to float on the London Stock Exchange, and since then the company has established a board of directors, naming Penny Hughes as chairman and keeping Andy Palmer as chief executive officer.

Aston Continue reading “Aston Martin could be valued up to $6.7B in IPO”

Aston Martin confirms mid-engined ‘Project 003’ hypercar for 2021

The Project 003 will be the third Aston hypercar, and will slot in beneath the Valkyrie as a McLaren Senna rival

A third Aston Martin hypercar to compliment the Valkyrie and Valkyrie AMR Pro has been confirmed by the British brand. No official name has been announced, but it is currently being developed under the codename Project 003.

The project is still in an embryotic state – Aston says that the new model will arrive on sale late in 2021, and while both right-hand-drive and Continue reading “Aston Martin confirms mid-engined ‘Project 003’ hypercar for 2021”

New 2018 Skoda Kodiaq vRS teased again ahead of Paris

Sketches of the hot 237bhp Skoda Kodiaq vRS SUV emerge ahead of its full debut at the 2018 Paris Motor Show

The teaser campaign for the new Skoda Kodiaq vRS continues apace, with the Czech brand now revealing a selection of exaggerated sketches – giving us our first look at the full car. The pictures follow a selection of detail images, which showed the new vRS badge and large 20-inch Xtreme wheels. The vRS will make its world debut at the Paris Motor Show in October.

It’s those Continue reading “New 2018 Skoda Kodiaq vRS teased again ahead of Paris”