Category: Automotive News

Bringing classic cars back to the dealership

Jenny King autonews.com A potentially lucrative opportunity for the service department Servicing cars more than 30 years old might seem a losing proposition for most dealerships. Who wants to take valuable time to train technicians in carburetor repair? Or to keep a vehicle in a service bay for days, waiting for unusual parts? Yet brands…

Elio Motors appealing $500K fine

John Walton arklatexhomepage.com SHREVEPORT – Elio Motors is appealing the fines for not having the proper licenses. The Louisiana Motor Vehicle Commission fined Elio Motors $272,500 for not having a manufacturer’s license and another $272,500 for not having an automobile dealer’s licenses. Elio has 60 days to get the proper licenses, or face a daily…

Focus, Fiesta owners sue Ford over faulty Powershift transmissions

Michael Martinez autonews.com DETROIT — Nearly 7,000 Fiesta and Focus owners are suing Ford Motor Co. over defective PowerShift transmissions in some small cars, a problem that has plagued the automaker for years. The suit claims that 2012-16 Focus and 2011-16 Fiesta sedans come with faulty dual-clutch transmissions prone to “shuddering, slipping, bucking, jerking, hesitation…

Israeli Maker of Connected Vehicle Technology Raises $30 Million

thetower.org An Israeli maker of vehicle-to-vehicle (V2V) communication systems raised $30 million in its latest funding round, allowing it to expand its global operations, Globes reported Wednesday. Autotalks has raised $70 million to date, including the latest round. News of the latest investments in the company comes as the United States Department of Transportation (USDOT)…

“Data is the new oil” Why the race for data ownership is the new driving force of the automotive industry.

Eran Shir getnexar.com Yesterday Intel & Mobileye announced that Mobileye will be acquired by Intel for over $15B, an announcement that made waves, given its sheer size and importance, not just for the Israeli tech ecosystem, where Intel is already the largest player, but also worldwide. Much of the discussions yesterday debated the question of…

Intel to buy automotive tech co Mobileye for $14.7 bn

Baburajan K infotechlead.com Intel is to set to acquire Mobileye, a supplier for computer vision systems for the automotive industry, for an enterprise value of $14.7 billion. “The acquisition of Mobileye brings together the assets of Intel’s Xeon processors, FPGAs, 3D XPoint memory, and 5G modems with the world leader in automotive computer vision,” said…

Car Tech Startup Investment Exceeds $1 Billion In 2016

Doug Newcomb forbes.com If you want an indication of how hot the car tech market has become, just follow the money. In this case, the more than $1 billion invested in the space in 2016 – a 30% rise in deal activity over the previous year, according to CB Insights. The business data analytics company…