Hey, Your Top Automobile News for 05 October, 2020

Your Daily Automobile updates From Around The World [img]  [Learn more about RevenueStripe...]( [img]( [The Automobile News]( [General Motors Wants To Buy More Of Nikola Despite The Mess]( Although September started off as a great month for electric truck start-up Nikola, it hardly ended that way. Following revelations alleging fraud and deception brought forth in a short-seller report from Hindenburg Research, Nikola founder and now ex-CEO Trevor Milton resigned from the company and ex-General Motors vice chairman and Nikola board member Steve Girsky assumed the position. That was not enough to calm market worries over the future of Nikola, a publicly-traded company, and in particular its just-announced $2 billion agreement with GM. That deal called for the Detroit automaker to assume an 11 percent stake in Nikola in exchange for engineering, homologating, and ultimately building the Nikola Badger electric pickup truck. GM promised in no way would this project get in the way of its own upcoming all-electric truck, the GMC Hummer. While some analysts have been encouraging GM to back out of the deal, that doesn’t appear to be happening. Late last week, we reported GM wants to renegotiate all or part of that deal, and no additional details have come to light. According to CNBC’s Phil LeBeau, GM could be inking out a new deal that’ll see it take an even bigger stake in Nikola. “Don’t be surprised” if it happens, LeBeau said. LeBeau did not specifically state where this information was coming from, but so far neither automaker has denied nor confirmed it. Shares of Nikola surged by 15 percent upon this report. GM shares increased by 2 percent. For now, talks between the two continue but there’s no immediate rush to finalize a deal. Nikola’s filing with the Securities and Exchange Commission claims both companies have until December 3, 2020 to come to an agreement. If that deadline isn’t met, then both sides can terminate the agreement completely. Meanwhile, Nikola has confirmed it is postponing a December event where it planned to show the Badger in the flesh along with other unnamed vehicles. [Read more…]( The post [General Motors Wants To Buy More Of Nikola Despite The Mess]( first appeared on [TheAutomobileNews.com](. [Read Full Story]( [Kia Motors looks to ace SUV segment in India with Seltos, Sonet in tow]( - Kia sold 9,266 units of Sonet in September in India thus getting the better of the likes of Hyundai Venue and Maruti Suzuki Vitara Brezza. - Similarly, it sold 9,079 units of Seltos last month to take the second spot behind Hyundai Creta which sold 12,325 units. South Korean automaker Kia Motors is vying for the top slot in the high selling entry-level, mid-SUV segments in India with Seltos and Sonet generating robust volumes for the company, according to a senior company official. The company, which reported its highest-ever retail sales in the country in September, has already raced to number one position in the sub-four meter compact SUV segment last month with its newly launched model Sonet dominating the segment. Kia sold 9,266 units of Sonet in September thus getting the better of the likes of Hyundai Venue and Maruti Suzuki Vitara Brezza. Similarly, it sold 9,079 units of Seltos last month to take the second spot behind Hyundai Creta which sold 12,325 units. “We are now present in both SUV low and mid segments with Sonet and Seltos and we would be market leaders in both of them,” Kia Motors India Vice-President & Head Marketing and Sales Manohar Bhat told PTI. Both the models are high on design and features and come with wide range of trims so that a customer can choose according to his requirements, he added. “We are not talking down to the customer, we are giving them what they actually want. So there is such a pull for our vehicles, especially the top-end trims,” Bhat said. Kia has already netted close to 35,000 bookings for Sonet which was officially launched on September 18 and it gives confidence to the company that it can deliver in the market, he added. Due to high demand, the waiting period for both Seltos and Sonet has gone up considerably. Waiting period on Seltos has stretched close to a month depending upon the variant while for Sonet it is already around two months. Bhat said the company may look at enhancing the production further at its Anantapur plant (Andhra Pradesh) to reduce the waiting period for the two models. The plant has an installed capacity to roll out 3 lakh units per annum with three shifts running. With two shifts in operation currently, it can churn out 2 lakh units in a year. When asked if the company would bring in third shift at the plant, he said: “We will do it depending on the demand. We were very quick to start second shift last year with bookings for Seltos increasing…we would like to have the third shift as our dream is to make sure that our entire capacity is fully utilised.” He, however, added that in order to raise production even component suppliers would have to increase their output. “It is a very difficult time to run a factory during Covid times as our facilities are linked to so many other vendor factories and each one of them is grappling with the Covid thing. It is very difficult,” Bhat said. He further said: “It is not only about our own capacity alone but it also depends on the suppliers. Even for an example, a nut gets delayed then the entire vehicle is delayed. So, we depend on vendors also ramping up at the same time to be able to start the third shift and increase the production. So, we will do it at some point in time but when is that time would depend on vendors as well”. Bhat said that the entire sales network of the company is now functional and the automaker is also making efforts to increase penetration in certain regions where it had an inadequate presence. “There are so many parts in the country where we are not represented properly. There are various states like Karnataka, Rajasthan, Andhra Pradesh and the North East, where our presence is not adequate. So many outlets are going to come up in such regions. Covid has delayed this expansion but now they are going to be functional,” Bhat noted. [Read more…]( The post [Kia Motors looks to ace SUV segment in India with Seltos, Sonet in tow]( first appeared on [TheAutomobileNews.com](. [Read Full Story]( [DSG Global Subsidiary Imperium Motors Continues to Expand Electric Vehicle Lineup with New Terra-E High Speed Electric Pickup Truck]( Surrey, British Columbia, Canada, Sept. 30, 2020 (GLOBE NEWSWIRE) — DSG Global Inc. (OTCQB: DSGT) (“DSGT”), and subsidiary automobile division Imperium Motor Corp., announced that Zhejiang Jonway Group Co., Ltd. (Jonway Group) is adding an all new Electric Pickup Terra-E to the Imperium lineup. This brings the total offering of Electric Vehicles to over twenty different models including utility vehicles, sedans, vans, SUV’s and trucks. Jonway Group was founded in 2005 and is one of the most established manufacturers in the Electric Vehicle industry and have been selected as major player in the Electric Vehicle market by many different publications and market analysts. The company has exclusive distributor agreements for North America for multiple different manufacturers and expects their product offerings to continue to increase. Imperium is pleased to announce that one of its partners, Jonway Group, is developing an all new, mid-size Electric Pickup Terra-E truck. “This truck is similar in size to the popular Toyota Tacoma, Ford Ranger and Chevrolet Colorado trucks. The Terra-E truck is built on a modern and proven chassis with an excellent E-NCAP 4-star benchmark design. We plan to final assemble the trucks in the United States,” stated Rick Curtis, President of Imperium Motors. This is Imperium’s second all new high-speed offering that will be available in the North American market (picture attached). The new Jonway Terra-E Truck model will be available with various drivetrain options for domestic and export markets. The Terra-E believes it offers best-in-class off-road capabilities and unrivalled toughness thanks to a strengthened chassis that is purportedly stronger than all its rivals, all with 17-inch tires. Standard features include a multifunction steering wheel, leather seats, climate control and a 9-inch central infotainment display. Other modern conveniences like a 360º reverse camera, cruise control, automatic headlights, rain sensing wipers, keyless start and heated seats are also standard. The Terra-E has many safety features including an Anti-Lock Braking System with Electronic Brakeforce Distribution, Electronic Stability Control, Traction Control, Hill Start Assist and Emergency Brake Assist. A tire pressure monitoring system, four airbags and an electronic parking brake will also be included. Terra-E expected range for the base model is well over two hundred miles. Higher range models will also be offered, and all will be competitively priced. “We are one of the only companies worldwide that can offer so many affordable Electric Vehicle choices to the consumer. We expect the Terra-E truck to be available for purchase during the first quarter of 2021. With our expanded vehicle lineup, including both high speed and low speed varieties, we are generating significant interest. We expect delivery of many of the models to begin within the next few weeks,” said Bob Silzer, President and CEO of DSG Global. About VANTAGE TAG SYSTEMS INC (VTS) Vantage Tag Systems provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course’s fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS’s unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety, and enhance customer satisfaction. VTS has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over vehicles worldwide. VTS is now branching into several new streams of revenue, through programmatic advertising, licensing and distribution, as well as expanding into Commercial Fleet Management, PACER single rider golf carts, and Agricultural applications. Additional information is available at Safe Harbor for Forward-Looking Statements Forward-looking statements in this press release include statements relating to, among other things, the Company’s ability to open its new customer facility and its ability to close and deliver on various purchase orders from customers, and the Company’s expansion into markets outside of the golf industry. [Read more…]( The post [DSG Global Subsidiary Imperium Motors Continues to Expand Electric Vehicle Lineup with New Terra-E High Speed Electric Pickup Truck]( first appeared on [TheAutomobileNews.com](. [Read Full Story]( ------------------ You Might Like [Learn more about RevenueStripe...](        ------------------ Connect with TheAutomobileNews on Facebook and Twitter [fb](  [tw]( ------------------ You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. 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