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Volkswagen settles emissions cheating for US$15.3 billion

Volkswagen is taking a major step toward compensating owners and government regulators for its emissions cheating scandal. But it will take much longer to repair the damage to its reputation. The German ...

June 29, 2016, Wednesday


Toyota recalls 1.43 million vehicles for defective air bags

Toyota is recalling 1.43 million vehicles globally for defective air bags, although it is not part of the massive recalls of Takata air bags, the Japanese automaker said Wednesday. Toyota Motor Corp. ...

June 29, 2016, Wednesday


VW agrees to US$14.7b payout over US emissions scandal

VOLKSWAGEN has agreed to pay US$14.7 billion in a US settlement over its emission-cheating diesel-powered cars, pledging to buy back or fix cars that tricked pollution tests, and pay each owner up to ...

June 29, 2016, Wednesday


BYD inks lithium resource mining deal

CHINA’S electric carmaker BYD yesterday signed a framework agreement to take part in lithium resource mining in Salt Lake in Qinghai Province. BYD signed the deal with the Qinghai Salk Lake Industry ...

June 24, 2016, Friday


Tesla eyes paying up to US$2.8b for SolarCity

Electric car maker Tesla Motors wants to buy solar panel maker SolarCity for up to US$2.8 billion in an attempt to create a one-stop shop for cleaner energy as consumers become more concerned about fossil...

June 23, 2016, Thursday


Boost for FTZ parallel car imports

SHANGHAI Waigaoqiao Automobile Exchange Market Co yesterday was given a China Compulsory Certification (3C) for parallel imports of BMW X5 xDrive35i — the first in Shanghai’s free trade zone. 3C is a ...

June 22, 2016, Wednesday


Saab car brand consigned to scrap yard

The Saab car brand was dumped yesterday on the scrap yard of automobile history when the trademark’s most recent user said they would give up trying to recycle the venerable name....

June 22, 2016, Wednesday


Parallel imported cars are granted certification in the Shanghai FTZ

China’s certification authority today granted a 3C (China Compulsory Certification) to parallel imported vehicles in Shanghai’s free trade zone, offering a legitimate identity for parallel imports of ...

June 21, 2016, Tuesday


Probe against VW’s former CEO

VW emblems are seen in a production line at the plant of German carmaker Volkswagen in Wolfsburg. German prosecutors have launched a probe against former VW Chief Executive Martin Winterkorn and another senior executive who are suspected of possible market manipulation related to the carmaker’s emissions scandal. The prosecutor’s office in Braunschweig yesterday said the new probe centered on “sufficient real signs” that VW’s duty to disclose the possible financial damage of its manipulations may have arisen prior to September 22 when the carmaker publicly admitted to its wrongdoings. ...

June 21, 2016, Tuesday


Shanghai further tightens restrictions for car plate bidders

JUST like real estate buyers, Shanghai car plate bidders will be soon subject to purchase restrictions released by the municipal government yesterday as the tight car plate supply failed to keep up with ...

June 19, 2016, Sunday


 

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