BMW’s “electromobility” drive is about to gain further momentum, with the German luxury vehicle manufacturer announcing it will release the last Mini model with a combustion engine variant in 2025.
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The US car safety agency said on Wednesday it will send a team to investigate a crash involving a Tesla suspected of being in Autopilot mode when it struck a parked Michigan State Police patrol car.
Volkswagen’s boss, Herbert Diess, is realistic about the threat posed by software-savvy and richly valued rivals such as Tesla, but he’s adamant that VW can prevail. On current form, he may be right.
Just like Samsung has an edge over Apple with its superior smartphone display, there is one area where VW may be ahead of Tesla: The German car maker has placed a big bet on next-generation lithium-ion batteries.
Tesla added “Technoking of Tesla” to billionaire CEO Elon Musk’s list of official titles on Monday in a formal regulatory filing that also named finance chief Zachary Kirkhorn “Master of Coin”.
While Volkswagen is one of the largest car producers, it’s now pitted against companies that have routinely disrupted industries, casting former leaders aside in the process.
As Apple plots a foray into the car market, it could adopt a similar strategy to the iPhone – working with a lesser known contract manufacturer – after talks with some brand name car makers stalled.
Shares of Tesla closed lower for a fifth consecutive session on Monday, caught in a tech-led selloff that has wiped more than $277-billion off the company’s market value over the last month.
BMW has a message for Apple: Bring it on! Chief financial officer Nicolas Peter said he is undaunted by reports that the world’s most valuable company could enter the car business.
Volvo’s entire car line-up will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of car makers planning to phase out fossil-fuel engines by the end of this decade.