Archive Transportation: Leisure

  • CONCORD, Aug 4- Self-driving trucking start-up Otto is poised to put its software in the hands of long-haul truckers by the end of this year for testing, its co-founders said on Thursday. Otto, co-founded by Google car and map project veterans Anthony Levandowski and Lior Ron, will also begin testing five retrofitted Volvo trucks at Northern California's...

  • SAN FRANCISCO, Aug 3- Tesla Motors Inc reported a steeper than expected quarterly loss on Wednesday on higher spending at its vehicle and battery factories, and said adjusted profitability could be within sight if the company meets its delivery goals. The 13th straight quarterly loss for the Silicon Valley electric carmaker underscores the financial...

  • MONTREAL, Aug 3- Pershing Square Capital Management said on Wednesday in a news release it will sell off its 9.8 million-share stake in Canadian Pacific Railway Ltd.. The hedge fund led by Bill Ackman launched a shareholder proxy battle to turn the then-underperforming railroad around in 2012.. Morgan, Credit Suisse and BofA Merrill Lynch will act as...

  • Tesla, led by entrepreneur Elon Musk, said it was still on track to deliver about 50,000 new Model S and Model X vehicles during the second half of 2016, and reiterated that it would spend $2.25 billion in capital expenditures in 2016 to prepare for its upcoming Model 3 sedan. "Making cars is hard... and they still are in the growth stage- the market seems to want to give...

  • The company, run by Silicon Valley entrepreneur Elon Musk, said on Wednesday it was on track to deliver about 50,000 new Model S and Model X vehicles during the second half of 2016.. Excluding items, Tesla lost $1.06 per share in the three months ended June 30, compared with 48 cents in the same period last year. Tesla said its net loss widened to $293.2 million, or $2.09...

  • TRAVERSE CITY, Mich., Aug 2- The complex U.S. emissions rules driving the auto industry's technology investment should be overhauled, auto executives and environmental regulators agreed Tuesday at a conference here, even as they differed sharply over how. Chris Grundler, head of the U.S. Environmental Protection Agency's Office of Transportation and Air...

  • TRAVERSE CITY, Mich., Aug 2- The complex U.S. emissions rules driving the auto industry's technology investment should be overhauled, auto executives and environmental regulators agreed Tuesday at a conference here, even as they differed sharply over how. Chris Grundler, head of the U.S. Environmental Protection Agency's Office of Transportation and Air...

  • DETROIT, Aug 2- Four major automakers in the U.S. market on Tuesday reported July vehicle sales slightly below expectations as the pent-up demand that has helped drive sales since 2009 plays itself out. In a continuing trend, consumers shunned passenger cars in favor of SUVs and pickup trucks. Ford last week became the first major auto manufacturer to predict an...

  • TOKYO, Aug 2- Japan's Nikkei share average slipped on Tuesday with a slide in crude oil prices denting investor risk sentiment, while financials fell after two days of large gains. ISM data out overnight was not all that encouraging, and lower oil is prompting a bit of risk aversion, "said Chihiro Ohta, general manager of investment research and investor services at...

  • Aug 1- SolarCity Corp agreed to Tesla Motors Inc's $2.6 billion offer to buy the solar panel installer, the companies said on Monday, clearing one obstacle in the way of Elon Musk's ambitious plans for a carbon-free energy and transportation company. Tesla's stock swap offer valued SolarCity at $25.37 a share, or $200 million less than the initial proposal Musk...

  • *Tesla offers 0.110 of its shares per SolarCity share. Aug 1- SolarCity Corp agreed to Tesla Motors Inc's $2.6 billion offer to buy the solar panel installer, the companies said on Monday, clearing one obstacle in the way of Elon Musk's ambitious plans for a carbon-free energy and transportation company. Tesla's stock swap offer valued SolarCity at $25.37 a share,...

  • Aug 1- SolarCity Corp agreed to Tesla Motors Inc's $2.6 billion offer to buy the solar panel installer, the companies said Monday, clearing one obstacle in the way of Elon Musk's ambitious plans for a carbon-free energy and transportation company. Tesla's stock swap offer valued SolarCity at $25.37 a share, or $200 million less than the initial proposal that...

  • DETROIT, July 29- Consumers are more aware of self-driving cars, but slightly less interested in riding in them, according to two surveys conducted after a fatal crash of a Tesla equipped with self-driving technology. An online survey of more than 1,500 Americans in mid-July by AlixPartners found that overall consumer interest in self-driving dropped about...

  • FRANKFURT, July 29- Mercedes-Benz has withdrawn an advert in the United States which compared its new E-class with a futuristic self-driving concept car following allegations from local consumer groups that the marketing claims were misleading. Earlier this week, U.S.-based Consumer Reports urged the U.S. Federal Trade Commission to scrutinize Mercedes' "...

  • FRANKFURT, July 28- Mercedes-Benz has defended an advertising campaign for its new E-Class against allegations that consumers were being misled about the car's self-driving capabilities, the latest backlash by consumer groups in the wake of a fatal Tesla accident. The ensuing investigation of the Tesla accident by the U.S. National Highway Traffic Safety...

  • WASHINGTON, July 26- A driver killed in the May 7 crash of a Tesla Motors Inc car while using Autopilot driving-assist software was exceeding the speed limit, U.S. highway safety investigators said on Tuesday in a preliminary report that did not state a probable cause. The U.S. National Transportation Safety Board said its preliminary findings showed the Model S...

  • WASHINGTON, July 26- A driver killed in the May 7 crash of a Tesla Motors Inc car while using Autopilot driving-assist software was speeding, U.S. highway safety investigators said on Tuesday in a preliminary report that did not state a probable cause. The U.S. National Transportation Safety Board said its preliminary findings showed the Model S was traveling at...

  • BRUSSELS, July 26- The European Commission will launch an arbitration procedure to resolve a dispute between Norwegian Air Shuttle and U.S. regulators over the budget carrier's wish to fly to the United States from Ireland, two sources said. Norwegian's Irish subsidiary, Norwegian Air International, applied for permission to operate flights to the United...

  • BRUSSELS, July 26- The European Commission will launch an arbitration procedure to resolve a dispute between Norwegian Air Shuttle and U.S. regulators over the budget carrier's wish to fly to the United States from Ireland, two sources said. Norwegian's Irish subsidiary applied for permission to operate flights to the United States more than two years ago, but...

  • TORONTO, July 25- Canada will take older tank cars out of crude-by-rail service much earlier than originally planned, its transport minister said on Monday, in the government's latest move to toughen rail safety after a deadly 2013 crash. The decision, which moves Canada's retrofit schedule further ahead of the United States, was partly prompted by a sharp drop...