Renault partners Coscharis in a distribute and assemble deal

French carmaker Renault and Nigerian conglomerate Coscharis Group have formed a partnership to assemble and distribute Renault vehicles in Nigeria, the companies said on Thursday. The Coscharis Group plant will start assembling Renault Logan and Renault Duster vehicles and will distribute the cars through their sales network throughout Nigeria from October. “With a population of […]

BMW to spend more on autonomous driving, electric cars

Automaker BMW said this year’s profits will at least equal last year’s results as the company sinks billions into developing electric and autonomous car technology to meet expected changes in people’s mobility. Nicolas Peter, the chief financial officer told an annual news conference Wednesday that it expects group profit before tax to be “at least […]

Uber selling off auto-leasing business

After confirming the closure of its auto-leasing business, Xchange Leasing, Uber is now reportedly selling it, according to The Wall Street Journal. The buyer? Car ownership startup Fair.com. Uber announced in September that it would be shutting down Xchange Leasing, its Delaware-based subsidiary which partners with auto dealerships to offer vehicle leases to U.S. Uber […]