Hyundai and sister company Kia have jointly invested 80 million euros ($90 million) in the Croatian electric supercar maker Rimac Automobili. Hyundai will invest 64 million euros and Kia the remaining 16 million, the companies said in a news release. "This is an equity investment, but we are not disclosing the percentage stake," a Hyundai spokesman said. Hyundai, Kia and Rimac will develop two high-performance electric vehicles. One will be a sports car for Hyundai's N performance subbrand. The other will be a fuel cell car, likely for Kia. "Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles," said Hyundai Executive Vice Chairman Euisun Chung, in a statement. Rimac said it hopes its collaboration with Hyundai-Kia will strengthen its position as a Tier-1 electrification components supplier. Hyundai plans to offer 44 electrified models by 2025, targeting annual sales of about 1.67 million units. Kia aims to have 19 electrified vehicles in … [Read more...] about Hyundai, Kia buy stake in electric supercar company Rimac
Electricity supply company
Grab building fast-charging electric fleet in Singapore
Grab is building a fast-charging electric vehicle fleet in Singapore. The ride hailing giant announced a strategic partnership with SP Group yesterday, where Grab’s 200 new EVs will use SP’s fast-charging network in the city state. The new fleet will be progressively rolled out in Singapore from early 2019. Drivers on this new model will enjoy preferential EV charging rates from SP at all its charging stations island-wide. With the cost benefits offered by EVs, they can expect to earn up to 25% more in daily income compared to those on a regular petrol car, and up to 20% more compared to a hybrid car, Grab claims. The announcement marks SP’s first fleet partnership since it unveiled plans in June to build Singapore’s largest and fastest public EV charging network. SP has committed to build 500 publicly accessible charging points, comprising both DC (direct current) and AC (alternating current) chargers by 2020. Grab and SP will study EV usage patterns and … [Read more...] about Grab building fast-charging electric fleet in Singapore
Trial By Wire: Creating You Car’s Electrical System From Scratch
Like stories like this? You’ll see every article as soon as it’s published by reading the print edition of Grassroots Motorsports. Subscribe now. Story by Matt Smith • Photos As Credited Let’s Admit It: We’ve all been spooked by electrons in one form or another, from harmless static shocks to threatening lightning. However, electrons also have the ability to do some pretty amazing things: light our homes, power air compressors, weld together metal, and perhaps most importantly, provide the spark needed to make our engines purr. Most of us are able to use the factory wiring harness–either as delivered or with some modifications–but what happens when you have to start from scratch? Whether you’re building a formula car, dedicated racer, $2000 Challenge machine or something similar, don’t fret. Wiring an entire car can be an intimidating task, but it’s much easier when you have the knowledge and tools to get the … [Read more...] about Trial By Wire: Creating You Car’s Electrical System From Scratch
Private companies investing in Gulf as Wall Street turns its back
By Collin Eaton Published 7:00 am, Thursday, May 3, 2018 window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-3', placement: 'Interstitial Gallery Thumbnails 3', target_type: 'mix' }); _taboola.push({flush: true}); Photo: Marie D. De Jesus, Houston Chronicle / Houston Chronicle Image 1of/3 CaptionClose Image 1 of 3 Matt McCarroll, is founder, President and CEO of Fieldwood Energy LLC, the largest operator on the Gulf of Mexico Shelf. The company recently emerged from bankruptcy protection. Thursday, April 19, 2018, in Houston. ( Marie D. De Jesus / Houston Chronicle ) less Matt McCarroll, is founder, President and CEO of Fieldwood Energy LLC, the largest operator on the Gulf of Mexico Shelf. The company recently emerged from bankruptcy protection. Thursday, April 19, 2018, in ... more … [Read more...] about Private companies investing in Gulf as Wall Street turns its back
China Is Opening Its Car Market. But Not Enough, Say Auto Companies.
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Advertisement Supported by ByKeith Bradsher April 25, 2018 查看简体中文版 查看繁體中文版 BEIJING — When President Xi Jinping announced measures to further open up China’s auto industry to foreign carmakers, the global industry initially cheered. Now the cheering has stopped. As details are emerging, foreign auto executives attending China’s annual auto show in Beijing this week said Mr. Xi’s initiative was too narrow and vague to change business on the ground. That means the initiative may not be a strong enough starting point for talks to stave off the Trump administration’s threats to impose tariffs on $150 billion in Chinese-made goods. Central to Mr. Xi’s plan is that it will allow foreign automakers to own Chinese … [Read more...] about China Is Opening Its Car Market. But Not Enough, Say Auto Companies.