car market

    • Ferrari launches EV model in 2025

      Ferrari launches EV model in 2025

      Italy’ popular sports carmaker announced plans to join the global low carbon trend by introducing its own all-electric model, ANSA reported. The company’s chairman John Elkann told reporters that the carmaker will have a fully electric car by 2025. “We are continuing to execute our electrification strategy in a highly disciplined way,” Elkann said. “Our interpretation and application of these technologies both in motorsport and in road cars is a huge opportunity to bring the uniqueness and passion of Ferrari to new generations.”

    • Self-driving Cruise startup attracts $2.75bn

      Self-driving Cruise startup attracts $2.75bn

      US Cruise self-drive startup announced it had managed to raise additional 2.75 billion dollars in a funding round targeted at big key investors, Reuters reported. The latest operation boosts the market valuation of Cruise to over 30 billion dollars. The results of the funding round were released shortly after rival TuSimple announced plans for an IPO.

    • Swedish EV maker raises $550m

      Swedish EV maker raises $550m

      The Swedish maker of electric vehicles Polestar announced it had managed to attract some 550 million dollars in external funding in a bid to support production and output capacity, Reuters reported. The firm has earmarked plans to launch a new model in the near future. Polestar is controlled by Volvo and its parent Chinese firm Geely. The company benefited from the overall positive investor sentiment to producers of electric cars such as Tesla and Nio.

    • GM changes the money making policy to target $1.3 trillion markets

      GM changes the money making policy to target $1.3 trillion markets

      The carmaker giant General Motors announced changes in its strategic priorities that will allow the company to explore new possibilities not related to the production of vehicles, Reuters reported. GM is planning new ventures from commercial delivery services to vehicle insurance, to address future markets worth an estimated $1.3 trillion. That doesn’t include flying cars, a market sector that alone could be worth $1.3 trillion, veteran engineer Pam Fletcher told Reuters.