02 Aug Fiat Chrysler’s Magneti Marelli to Acquire Self-Driving Tech Startup Magneti Marelli, a components business that is part of Fiat Chrysler Automobiles, plans to acquire a French startup focused on self-driving car technology. Read more...
02 Aug Sacramento Partners With Self-Driving Firm for Driverless Tests on City Streets Sacramento has signed a deal with a Silicon Valley firm to use downtown streets as a testing ground for self-driving vehicles that will be monitored by remote “drivers” sitting at computers. Read more...
02 Aug DOT Seeks Members to Serve on Human Trafficking Committee The U.S. Department of Transportation is seeking individuals to serve on a special committee that will provide information, advice and recommendations on matters relating to human trafficking and recommended best practices for state and local transportation stakeholders in combating human trafficking. Read more...
02 Aug Meritor Net Income, Revenue Post Double-Digit Gains in Fiscal-Year 3Q Commercial vehicle supplier Meritor Inc. notched higher revenue and net income in its fiscal-year third quarter, citing new business wins and higher production in all of its major markets. Read more...
02 Aug US Electric Vehicle Charging Market Could Reach $18.6 Billion by 2030 Falling prices and government mandates are set to boost sales of electric vehicles globally, making owning and operating charging infrastructure an attractive area for investment. Read more...
02 Aug Fed Describes Economy as ‘Strong’ for the First Time Since 2006 The Federal Reserve described economic activity as “strong” in a statement Aug. 1, the first time it has done so since it called it “quite strong” in May 2006 — in the late stages of the last economic expansion, shortly before the housing market drove the economy into meltdown. Read more...
02 Aug Schumer Calls for More Inspectors After Concrete Falls From Rail Bridge Sen. Charles Schumer (D-N.Y.) called on the Federal Railroad Administration to increase the number of independent inspectors that examine rail bridges. Read more...
02 Aug China Says US Tariff Threat Runs Against Trend of the Times BEIJING — China’s foreign minister said Aug. 1 that U.S. threats to hike tariffs run against the trend toward globalization and will hurt U.S. businesses and consumers. Read more...
02 Aug Trump Administration Cites Safety to Freeze Mileage Standard WASHINGTON — The Trump administration says people would drive more and be exposed to increased risk if their cars get better gas mileage, an argument intended to justify freezing Obama-era toughening of fuel standards. Read more...
02 Aug Spending on Future Tech Eats Into BMW Profits FRANKFURT, Germany — BMW’s profit fell 6% in the second quarter as it spent more on developing new technologies for electric, autonomous and digitally connected automobiles, the luxury carmaker said Aug. 1. Read more...