Car maker Volvo to go all electric by 2030

WORLD – Swedish car maker Volvo has said that its entire car line-up will be fully electric by 2030, joining a growing number of car makers planning to phase out fossil-fuel engines by the end of this decade. “I am totally convinced there will no customers who really want to stay with a petrol engine,” Volvo CEO Håkan Samuelsson told reporters when quizzed about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.” The Swedish car maker said 50% of its global sales…

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Kiira Motors unveils diesel-powered bus for long distance travel

UGANDA – Uganda’s automotive company Kiira Motors has expanded its of offerings to the market as it stirs up domestic motor vehicle manufacture and assembly.  The company is set launch yet another bus model, the Kayoola Diesel Bus (KDC), to complement the Kayoola EVS that runs exclusively on electricity. Powered by a Cummins conventional diesel engine, the Kayoola KDC is designed to plug the range gap between the Kayoola EVS, which is primarily suited for urban commuter services, and the needs of long-distance operators. The Kayoola EVS can run for…

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Mercedes-Benz South Africa spins-off of Daimler to foster value creation

SOUTH AFRICA – MERCEDES-Benz South Africa’s (MBSA’s) has spined-off Daimler Trucks and Buses Southern Africa (DTBSA) to Daimler Truck AG, a subsidiary of Daimler AG, MBSA’s ultimate parent company, coming at a bleak time for the heavy commercial vehicle business in South Africa. The decision to spin-off was taken in response to a board and supervisory board strategy by the parent in July 2018, where a plan to simplify the group structure was adopted. Daimler Truck AG was selling almost 500,000 vehicles globally a year before the Covid-19 pandemic, but…

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Motor dealer Car & General ups its stake in microlender Watu Credit to 29%

KENYA – Automotive and engineering products dealer Car &General (C&G) has invested an additional US$353,736 in microlender Watu Credit Limited, raising its stake in the company to 29 percent in the year ended September 2020. The Nairobi Securities Exchange (NSE) listed firm previously held a 26.5 percent interest in the lender. The investment in Watu Credit has helped C&G to boost its sale of motorcycles and tuk-tuks, which are hugely popular modes of transport in Kenya. The microlender funds acquisition of the two and three-wheeled autos including brands sold by C&G…

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Ford Motors invests US$1.06b to build next Ranger in South Africa

SOUTH AFRICA – Ford Motor Company of Southern Africa Ltd has announced that it will invest US$1.0 billion to upgrade its Silverton plant in Gauteng, South Africa as it prepares to build the next-generation Ranger bakkie for both local and export markets. The announcement is another boost to South Africa’s motor manufacturing industry and comes after Toyota announced last week that it planned to build the Corolla Cross in South Africa from later this year. Ford says it expects the new Ranger to go into production in 2022, although no…

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Investors pump US$553m into struggling British car maker, Aston Martin to save it from near collapse

UNITED KINGDOM – Aston Martin, a British independent manufacturer of luxury sports cars and grand tourers has received a a 500-million-pound cash injection from investors led by Canadian billionaire Lawrence Stroll. Analysts say that the new cash injection will help stabilize the finances of the the cash-strapped vehicle manufacturer even as it moves ahead with plans to produce its first sport utility vehicle (SUV). Stroll agreed to buy up to 20% of the 107-year-old company and will become the Executive Chairman of James Bond’s automaker of choice, which has gone…

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