Their combined self-driving effort will debut in 2021. Toyota plans to invest around $500 million in Uber, the Wall Street Journal reports, as the two enter an agreement to work together on driverless technologies. The publication cites sources familiar with the matter and the investment would value Uber at $72 billion. Reports surfaced
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Vespa’s first electric scooter goes on sale in Europe this October
A Vespa Elettrica The Vespa Elettrica will hit the US and Asia in early 2019. Vespa's electric scooter has long been slated to start shipping this year, and now the timeline is a little clearer on when you might be able to get your hands on a Vespa Elettrica. Production will start next month, and Vespa
Didi suspends carpool service in China after rape and killing of passenger
China's biggest ride-hailing company, Didi Chuxing, is suspending one of its services for the second time this year after a driver was accused of raping and killing a female passenger. The company apologized for "disappointing mistakes" and said that two senior managers have been removed from their jobs following the death
Uber ‘to focus on bikes over cars’
Uber has partnered with Lime, whose scooters are available in a number of cities including Paris Uber says it plans to focus more on its electric scooter and bike business, and less on cars, despite the fact it could hurt profits. Boss Dara Khosrowshahi said that individual modes of transport were better
How Ethiopian Airlines Rose to the Top in Africa
The airline is fully owned by the government of Ethiopia. State backing is a prerequisite for a major national enterprise with long-term goals, such as an airline. Note, however, that we do not get any funding or subsidies from the government. Ethiopian is managed with its own corporate finance. The government,
Nigeria: U.S.-China Trade War Worsens Nigeria’s Non-Oil Exporters’ Woes
Local non-oil exporters may have started feeling the heat of the trade war between global economic leaders. Although projections from international trade bodies showed that average tariffs on exports from Nigeria and Zambia might not go beyond 10 percent under the ordeal, the affected businesses are already decrying slow demand
VW to launch all-electric car sharing in Berlin
FILE - In this Jan 13, 2014 file photo the Volkswagen e-Golf fully electric vehicle is presented at the North American International Auto Show in Detroit, Michigan. Volkswagen said Thursday, Aug. 23, 2018 it is planning a new e-car-sharing project and will invest in car connectivity. (AP Photo/Tony Ding, file) Volkswagen
Panalpina warns of potential ground-handling gridlock during peak
While most of the focus in previous peak air cargo seasons was based on finding enough capacity before the busy end-of-year shopping spree, Panalpina said there is another threat lurking this fall at overcrowded cargo-hub airports. After reporting the handling of just under 1 million tonnes of airfreight in 2017, a
Clock Is Ticking for FedEx’s Board as Founder Nears Age Limit
Delivery trucks sit parked at the FedEx Corp. Ground distribution center in Jersey City, New Jersey, U.S., on Tuesday, Aug. 7, 2018. FedEx is heading into fiscal 2019 running on all cylinders, with revenue growth and margin expansion expected across all three of its segments. FedEx Corp. will lose a board
South Africa’s Fuel Price Meeting Blames Petrol Cost Hikes on Exchange Rates, Venezuela Instability
Cape Town - Energy Minister Jeff Radebe has presented several reasons why South Africans have to pay more at the pumps during an Energy Portfolio Committee meeting. The session comes a week after it was scheduled to be held, the delay blamed on "miscommunication" by an official who faces disciplinary