Tag Archives: Up

Future Retail to raise up to $500 million through dollar bonds

Mumbai: Kishore Biyani’s Future Retail Ltd on Saturday said that its board has approved a fundraising plan to raise up to $500 million through dollar denominated bonds, the company said in a filing with stock exchanges. “Further to the decision taken in the Board meeting held on 12th October, 2019, the Board has reconsidered the various funding options for the acquisition of the ... Read More »

Used-car marketplace Vroom nabs $254M to take its growth up a gear

There have been a lot of bumps in the road for startups building used-car marketplaces, but now one of the longer-standing of them has closed a major round of funding — a clear sign of the mileage left in this category. Vroom has raised $254 million, a Series H that it plans to use to keep scaling the business, and specifically also ... Read More »

Tesla to build new car factory near Berlin – up to 10.000 new jobs

Elon Musk, founder and CEO of Tesla, one of the world’s best-known producers of electric cars, has announced that the company’s new factory for the European market will be built in Germany. New Tesla factory will be near Berlin-Brandenburg airport Speaking during a ceremony at the Golden Steering Wheel awards in Berlin, Musk announced that the company’s new car and battery factory ... Read More »

Tesla’s service and used car revenue is growing, but can’t make up for a plunge in US vehicle sales

While Tesla’s overall sales dropped 39% in the U.S. during the third quarter, the company is seeing robust growth on “services and other” revenue, which includes sales of used cars. Revenue in that category jumped 68% to $548 million from $326 a year earlier, according to Tesla’s latest financial filing. Over the first nine months of 2019, it grew 91% to $1.65 ... Read More »

Future Belongs to Electric Vehicles: UP Transport Minister

Uttar Pradesh transport minister Swatantradev Singh on Sunday said electric vehicles are the need of the hour and the future belongs to them. “Electric vehicles have many advantages. Less consumption of diesel and petrol will not only reduce pollution, but it will also save foreign currency which is used to import the fuel,” Singh said at a session on electric ... Read More »

How CARS24 is shaking up the used car industry in India through technology innovation

The used car market in India is growing at a phenomenal pace and due to shorter car ownership periods, price value quotient, penetration in smaller towns, demand for used luxury cars, and reduced customer anxiety towards pre-owned car segment, it is turning out to be bigger than the new car market As per the data by SIAM released in 2018, ... Read More »

Delhi cars to cost more as transport department hikes one-time parking charges up to 18 times

Car buyers will have to pay higher one-time parking charges in 2019 as the Delhi Transport Department has approved a recommendation for a hike by three municipal corporations of the city. According to the order, the charges will now range between Rs 6,000 to Rs 75,000. An order issued by outgoing Transport Commissioner Varsha Joshi on Friday said the new ... Read More »

Goodwood turns up the heat on traditional auto shows

Visitors to the Goodwood Festival of Speed will get to see and hear the new Aston Martin DBS Superleggera in action this week. On the face of it, the Goodwood Festival of Speed is a small specialist show held in a rural corner of southern England. In reality, this motorsport-themed event is attracting global manufacturers by offering far more than ... Read More »

Fiat Chrysler Supplying Waymo With Up to 62,000 Robo Taxis

Fiat Chrysler Automobiles NV will add up to 62,000 more vehicles to Alphabet Inc’s autonomous driving unit Waymo, the companies said on Thursday, as part of Waymo’s plans to roll out a commercial autonomous ride-hailing service in the U.S. later this year. Large tech companies, established automakers and venture capital backed startups including Uber and Tesla Inc are all stepping ... Read More »

New-Gen Maruti Suzuki Swift Spied Up Close Ahead Of Launch

This new-gen Maruti Suzuki Swift units appears to be the top-of-the-line ZX+ variant Highlights Bookings for the new-gen Swift have started at dealership level Production of the current-gen Maruti Suzuki Swift has ended The new-gen Maruti Suzuki Swift is expected to be launched by early-March A production version of the new-generation Maruti Suzuki Swift was recently spotted in India sans camouflage. Slated ... Read More »