Fuso, Mitsubishi Motors and Mitsubishi Corporation to operate an online platform JV providing information and one-stop services relating to electric vehicles (EV). 

2,300,000 Class A ordinary shares were sold during the underwritten public offering, which closed on 6 March, at a price of USD6.50 per share.

Build it and they will come. This is the approach being taken by the Moroccan government to grow its automotive industry, which is the largest in Africa but still modest by global standards. The kingdom already has major plants owned by Renault and Stellantis, alongside components production from European, American, and Japanese firms. Relying on foreign companies to do all the work can have variable outcomes, however: for example, a new EV plant which was proposed by Chinese automaker BYD in 2017 has failed to materialise.

Executives claimed that they have an annual production capacity of 5,000 buses and a strategy to target the Middle Eastern and African markets.

Rose replaces former chairman Arik Steinberg, who is stepping down from REE’s Board of Directors.

MCV will produce the buses under licence at its facility in Egypt, employing chassis supplied from Volvo’s factories in Sweden.

Higer completed the delivery of 780 Higer Buses worth USD55m to the Kingdom of Saudi Arabia under the “Belt and Road Initiative”, signifying the largest ever bus export from China to Saudi Arabia.

The company now aims to acquire certificates from FMVSS, as well as the California Air Resources Board and the Environmental Protection Agency, before the end of the year, making its ‘P7’ vehicles roadworthy and eligible for incentives.

The new test centre, jointly operated by FEV Group, in Oued Zem complements two cold weather sites in Finland, north of the Arctic Circle.

The vehicle presented at the show was a first demonstrator, but Schaeffler and VDL have plans to produce more, with the aim of commencing customer pilots in Germany in 2025.

Why do tech startups tend to concentrate in certain countries and regions? Or, to put it another way, why are some places more favourable to the growth of new companies than others? These are questions that bear greater relevance to the commercial vehicle industry today, as manufacturers search for partners to work with on the digital technologies which will make our trucks and buses smarter and more connected.

Articulated, full low floor and with capacity for 130 passengers, the urban AzureA18BR is imported CBU from China and offers an average range of 270 kilometres.