After an intense battle for market share Uber China gave-in to the rival company Didi Chuxing
In a deal expected to be formally announced tomorrow, Uber will sell its Chinese arm Uber China to local rival Didi Chuxing.
In a blog post obtained by Bloomberg, Uber CEO Travis Kalanick posited the deal as a merger that strengthens both parties.
After Uber, Didi Chuxing is the biggest name in ride-sharing and together with Uber China is expected to be valued at $35 billion. Uber, which will control around 20 percent of the merged companies and even see Kalanick join the board of Didi Chuxing, is valued at $68 billion.
Uber China and Didi Chuxing had been subsidizing rides to help gain market share. The bill for Uber reportedly reached $2 billion. The straw that broke the camel’s back, however, is likely the Chinese government’s decision last month to ban companies from subsidizing rides.
Didi Chuxing is backed by fellow Chinese tech giants Alibaba and Tencent, both of which have expanded recently into the automotive industry. Didi Chuxing has also received a $1 billion investment from Apple. It currently handles more than 11 million rides a day and serves about 300 million customers spread across 400 cities.
Owing to dismal sales of Figo twins, Ford India is rethinking on it’s product launch strategy. Instead it want to strengthen the sales of present portfolio before making further investments. Ford India actively considered introduction of a sedan based on B500 platform to be pitted against Honda City and after much thought canceled the plan.
The EcoSport, being a major contributor to Ford’s market share, is now experiencing slight dent in sales due to the arrival of the Maruti Suzuki Vitara Brezza. At least for now, Ford is hitting pause on investments that it had planned.
With the abandoning of the B500 platform based sedan, Ford is seeking ways to improve market share by focusing on the current portfolio instead. To revive interest in its recently launched models, Ford has now commenced a marketing campaign and initiated several service initiatives to boost sales. Ford India exported 6253 units in June 2016 compared to 2690 units shipped in June 2015.
Ford is sitting on huge accumulated losses in India, the introduction of new models will be delayed due to the shelving of plans. However, according to senior executives, there is a plan B which involves working towards solutions specifically focused on India. The Figo twins haven’t met sales expectations which could be the cause of Ford taking such a decision.
Since unveiling his ‘Master Plan Part Deux’ and Tesla’s future vehicle lineup earlier this month, Elon Musk has been quietly revealing more details about how Tesla plans to leverage its vehicle platforms to release more models. For example, he confirmed that the upcoming ‘Tesla Minibus’ will be built on the Model X chassis. Now he reveals…
To cope up with the ever increasing competition from the other automakers of the country, Mahindra is planning to increase it’s exports. Presently Mahindra stands third in sales after Maruti and Hyundai. With the launch and consistent growth of Tiago from Tata Motors, Mahindra got a serious competition. On the other hand Renault-Nissan alliance and Honda Motors are also posing serious competition for third position. Already Honda Motors once displaced Mahindra from third place although for a brief period.
“The LHD version of the KUV100 has been developed in both diesel & gasoline fuel options and the exports will soon start,” a source close to the development told ETAuto.
According to source, Mahindra is expected to export 20,000 units of KUV100 to South Africa and Hungary. Exports to South Africa will go as a kit and will be assembled at its local plant, which was set up in 2004. While in Hungary it will go as Completely Built Units (CBU).
In the first quarter of the fiscal year 2016-17, Mahindra’s PV exports grew by 137 percent to 2,539 units compared to the same period a year ago.
Advik Hi-Tech Private Limited (AHPL) is one of India’s leading & global automotive component manufacturer. It has been catering to the eclectic needs of a number of domestic and overseas customers across four continents in the two-wheeler, stationary, engine and transmission system segments for the past 12 years.
Debtor & Creditor accounting, Monitoring & Handling Cash & bank Accounting & Bank Bill Passing for Material & Services Also Handling Petty Cash Internal Audit Experience will be added advantage Thorough with Goods & Service MIRO Working on SAP MIRO Min 2 Years
Windows Server, Mail server administration IT Infrastructure of multiple locations, Administration of LAN, WAN, Router, L3 Switch, Network security, Data security Data Back up, Antivirus, firewall. Active directory server Administration. HP-Unix server administration added advantage, SAP Basis administration added advantage.
Conduct process improvements initiatives at supplier end. Do evaluation of Supplier Quality Performance / Supplier Quality Rating Support Supplier on Corrective & Preventive Action To plan & execute Supplier Product, Process Audits to ensure zero rejection and rework Improve quality productivity Verification of Supplier Processes by Onsite Audits Establish Inspection report by providing joint Inspection Report Improved Supplier Quality Interaction with suppliers regarding the Quality concern To plan and execute tooling validation of regular components at Supplier end Casting, Turning Operations & Small auto parts Assembly experience is must
Openings for Mechanical Engineers, Software Engineers, Safety Engineers, Human Resource, Finance, Design Engineers, IT Engineers, Marketing, Sales, Communication, Supply Chain, Web Developer, App Developer, UI Designer….etc, the list is very exhaustive. Scroll down to see
Faraday Future(FF) is a US-based, Chinese-backed global company focused on the development of intelligent electric vehicles and mobility solutions. Faraday Future was established in 2014 and is currently based in Gardena, California. Since its inception in 2014, the company has grown to 750 employees globally.Their financial partners are LeEco, a Chinese tech giant, led by Jia Yueting.
Faraday Future is named for one of the founding principles of electric motor technology known as Faraday’s Law.Faraday’s Law is in turn named after English scientist Michael Faraday who discovered electromagnetic induction.
The company debuted its first concept vehicle, the single-seat FFZERO1, at the January 2016 Consumer Electronics Show and plans to manufacture other vehicle designs in the near future, although representatives from the company are unable to confirm a timeline.
Employee Perks and Benefits:
401k retirement plan
Engineering orientation and onboarding program
Free snacks, fruits and refreshments
Casual dress code and relaxed work environment
“Soul of Faraday” community outreach team
Current Openings at Faraday Future:
For the whole list of openings at FF click here, otherwise click on the respective links provided for job description.
Lightweighting is a Pinnacle of Innovative Vehicle Design Dana is employing lightweighting strategies across all product groups. In the off-highway market, Spicer® PowerBoost® hydraulic-hybrid powertrain technology allows OEMS to choose a lighter, downsized engine. Driven by increasingly ambitious regulations in North America and around the world, the future of the mobility industry is being shaped by…