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Tag: Motor (Page 4 of 4)

$3 Million Koenigsegg Jesko is Already Sold Out…

Koenigsegg is pleased to announce that down payments have been received from customers and dealers for all 125 Koenigsegg Jesko build slots.

The launch of the Koenigsegg Jesko at the 2019 Geneva Motor Show was an outstanding success. 83 cars were sold prior to the show. Agreements were made on the remainder within 5 days of the car’s debut on the Koenigsegg stand. With all deposits received, we are now in a position to share the Jesko’s success with the world.

Koenigsegg Founder and CEO, Christian von Koenigsegg:

The new Koenigsegg Jesko is the highest volume production run we’ve ever planned. For it to have sold out within days of its unveiling is both humbling and a wonderful testament to the outstanding crew we have at Koenigsegg. From the visionary work of our designers, engineers and technicians to the incredible job done by our sales team and our global network of Koenigsegg dealers – it took a great team to bring the Jesko to the world. We are very thankful for the reception it’s received from the press, the public and of course, our growing family of Koenigsegg owners.

Koenigsegg Regera

Jesko production will begin at the end of 2020 at the rate of one per week.

The model can be specified in either of two variants – track or top speed – according to customer preference. The Koenigsegg Jesko will be homologated for road use in all relevant markets, worldwide.

A small number of vehicles were purchased by Koenigsegg dealers to secure build slots for potential clients who could not attend the Geneva show. Aspiring clients without a Jesko build slot are encouraged to contact their Koenigsegg dealer as soon as possible.

Koenigsegg Jesko

Story and images from http://www.koenigsegg.com

Canada’s Answer to Tesla Is a $15,500 Electric 3-Wheeler

(Bloomberg) — It’s all-electric like a Tesla. It’s priced like a Ford Fiesta. It’s one of the oddest-looking vehicles you’ve ever seen — and it may just redefine the commuter car.

As General Motors Co. prepares to shut the plant near Toronto that got car-making started in Canada more than a century ago, a new model is taking shape in a tiny production facility in Vancouver’s outskirts.

Meet the Solo — a one-seater vehicle made by Electra Meccanica Vehicles Corp. that costs $15,500. By December, 5,000 will be zipping around the streets of Los Angeles, with an additional 70,000 to be delivered over the next two years across the West Coast. Electra Meccanica may have a market value of just $80 million, yet it has $2.4 billion in pre-orders. The stock almost doubled in New York Wednesday.

Click the link for the full story! https://finance.yahoo.com/news/tesla-apos-latest-competitor-15-220000179.html

The company also has designs on the 4-wheel market…

Chinese EV Maker NIO Stock Rises On U.S. debut

(Reuters) – Shares of Chinese electric carmaker NIO Inc (NIO.N) recovered sharply from a 15 percent fall in their market debut on Wednesday, a day after the company’s IPO was priced at the lower end of the expected range.

NIO shares rose as much as 11 percent to $6.93 in afternoon trading, giving it a market capitalization of $7.11 billion.

The rebound in shares was a welcome relief for NIO, whose offering came under pressure as investors have turned wary about electric carmakers due to struggles at its chief rival Tesla Inc (TSLA.O).

Investors have worried about Tesla’s cash-burn rate as the company struggles to meet its production targets amid its efforts to become a mass-market automaker.

NIO began deliveries of its ES8 SUVs in June and in August sold 1,121 units. The company plans to launch a second, lower-priced electric sport-utility vehicle, the ES6, by the end of this year.

NIO, founded by Chinese entrepreneur William Li in 2014, incurred a net loss of $502.6 million in the first six months of 2018 on $6.95 million in revenue. It has $677 million in cash and cash equivalents as of June 30.

The listing – the third-biggest in the United States by a Chinese firm this year – comes as Chinese EV makers seek fresh capital to develop new products and finance investments in areas including autonomous driving and battery technologies.

NIO, formerly known as NextEV and backed by Chinese tech heavyweight Tencent Holdings Ltd <0700.HK>, is one of several largely Chinese-funded EV startups betting on the benefits of local production to compete with firms such as Tesla.

Having begun promoting EVs in 2009, China aims to become a dominant global producer as it bids to curb vehicle emissions, boost energy security and promote high-tech industries.

Several EV makers such as WM Motor Technology Co and Xpeng Motor have also raised funds from heavyweight investors including tech giants Alibaba Group Holding Ltd (BABA.N), Baidu Inc (BIDU.O) and Tencent.

Goldman Sachs, JPMorgan and Morgan Stanley led the IPO. Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank and UBS were also part of the process.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila and Anil D’Silva)

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