FILE PHOTO: People pass in front of a Volkswagen logo ahead of the Shanghai Auto Show, in Shanghai, China April 15, 2019. REUTERS/Aly Song/File Photo BERLIN (Reuters) – Volkswagen’s supervisory board is on the brink of announcing the automaker’s entry into battery cell production, two people familiar with the matter told Reuters on Monday. Production… Continue reading Volkswagen set to announce battery production plans: sources
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Exclusive: Scania signs Northvolt battery deal, in talks on equity
FILE PHOTO: Scania’s President and Chief Executive Office Henrik Henriksson speaks at Mobile World Congress in Barcelona, Spain, February 27, 2017. REUTERS/Eric Gaillard STOCKHOLM (Reuters) – Volkswagen truck brand Scania has signed a battery supply deal with Sweden’s Northvolt and is in talks about making an equity investment as part of the startup’s efforts to… Continue reading Exclusive: Scania signs Northvolt battery deal, in talks on equity
Exclusive: China’s BAIC seeks to buy 5 percent Daimler stake – sources
BEIJING/FRANKFURT (Reuters) – China’s BAIC Group is seeking to buy a stake of up to 5 percent in Daimler as a way to secure its investment in Chinese Mercedes-Benz manufacturing company Beijing Benz Automotive, three sources familiar with the matter told Reuters. FILE PHOTO: The logo of Beijing Automotive Group (BAIC) is seen during the… Continue reading Exclusive: China’s BAIC seeks to buy 5 percent Daimler stake – sources
Uber fizzles in Wall Street debut, opens below $45 IPO price
(Reuters) – Uber Technologies Inc’s shares made a disappointing market debut on Friday, marking a rocky start for the most anticipated initial public offering of the year as other high-profile startups such as Slack and WeWork look to go public. The fall in shares undermined Uber’s strategy of pricing its oversubscribed IPO conservatively at $45… Continue reading Uber fizzles in Wall Street debut, opens below $45 IPO price
EU car wifi plan delayed as countries await legal advice
BRUSSELS (Reuters) – The European Commission’s plan for a wifi-based standard for cars endorsed by Volkswagen faces a two-month delay as EU countries wait for legal advice on the proposal, giving a glimmer of hope to backers of the rival 5G technology. Envoys from the 28 EU countries met on Wednesday and agreed to extend… Continue reading EU car wifi plan delayed as countries await legal advice
Volvo Cars is cutting several hundred jobs: Swedish radio
FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front of a showroom of Stierli Automobile AG company in St. Erhard, Switzerland April 11, 2019. REUTERS/Arnd Wiegmann STOCKHOLM (Reuters) – Swedish carmaker Volvo, which is owned by China’s Geely, is cutting several hundred jobs, Swedish radio reported on Friday… Continue reading Volvo Cars is cutting several hundred jobs: Swedish radio
Peugeot signals openness to deals after JLR report
The logo of Tata Motors is pictured at at the 37th Bangkok International Motor Show in Bangkok, Thailand, March 22, 2016. REUTERS/Chaiwat Subprasom/File Photo LONDON/PARIS (Reuters) – PSA Group said on Thursday it was ready to consider potential tie-ups, after the French carmaker’s shares briefly rose on a report that it was in advanced talks… Continue reading Peugeot signals openness to deals after JLR report
Albemarle says new technology will boost Chilean lithium output by 30 percent
May 9 (Reuters) – Albemarle Corp said on Thursday it is moving forward on a project to boost Chilean lithium production by 30 percent without using more brine from the environmentally sensitive Salar de Atacama, the world’s driest desert. The company, the world’s largest producer of the white metal used to make electric vehicle batteries,… Continue reading Albemarle says new technology will boost Chilean lithium output by 30 percent
UPDATE 3-Panasonic flags first profit drop in 8 years, EV battery costs bite
TOKYO (Reuters) – Panasonic Corp warned profit this financial year would fall for the first time in eight years as costs to boost battery output rise and it moves to overhaul some businesses amid investor pressure to find new avenues of growth. FILE PHOTO: The Harley Davidson LiveWire electric motorcycle, developed in collaboration with Panasonic… Continue reading UPDATE 3-Panasonic flags first profit drop in 8 years, EV battery costs bite
Mitsubishi Motors switches gears to slower growth in post-Ghosn era
TOKYO (Reuters) – Mitsubishi Motors Corp forecast on Thursday a 19 percent fall in operating profit this year as it reins in aggressive growth amid slowing global car demand and charts a new course after the ouster of former chairman Carlos Ghosn. A Mitsubishi Motors logo is displayed at the 89th Geneva International Motor Show… Continue reading Mitsubishi Motors switches gears to slower growth in post-Ghosn era