According to a statement from the companies, Foxconn acquired $50 million of common stock directly from Lordstown Motors at a price of about $6.90 per share after signing the agreement in September. Apple‘s largest manufacturing partner Foxconn is moving ahead with a plan to acquire a Lordstown Motors vehicle assembly plant in Ohio for $230… Continue reading Apple supplier Foxconn buys Ohio EV factory for $230 mn
Author: Economic Times of India Online News
Net profit up 785% in Q2, this auto stock can deliver up to 28% return
Going by analyst estimates, the stock has the potential to deliver up to 28 per cent returns. Shares of Mahindra & Mahindra (M&M) climbed 3 per cent in an otherwise weak session on Wednesday, thanks to a beat on profit that surged 785 per cent in the September quarter, on a low base. This stock… Continue reading Net profit up 785% in Q2, this auto stock can deliver up to 28% return
Ford, Purdue partner on technology to speed up EV charging
Purdue researchers are trying to develop an alternative cooling method to prevent battery overheating with a charging cable that can deliver an increased current. Ford and Purdue University are partnering to develop a new charging station cable compatible with vehicle charging technology still being developed with hopes of making a broader transition to electric vehicles… Continue reading Ford, Purdue partner on technology to speed up EV charging
U.S. auto safety regulator awards over $24 mln to Hyundai Motor whistleblower
The award to ex-Hyundai Motor engineer Kim Gwang-ho is the biggest ever in a whistleblower case in the auto sector globally, according to law firm Constantine Cannon. The U.S. auto safety regulator announced on Tuesday its first-ever reward to a whistleblower, handing out more than $24 million to a former Hyundai Motor Co employee who… Continue reading U.S. auto safety regulator awards over $24 mln to Hyundai Motor whistleblower
General Electric to split into 3 public companies
The company, founded in 1892, has refashioned itself in recent years from the sprawling conglomerate created by Jack Welch in the 1980s to a much smaller and focused entity. It was heavily damaged by the financial crisis. The storied American company General Electric will divide itself into three public companies focused on aviation, healthcare and… Continue reading General Electric to split into 3 public companies
Tata Motors is best auto pick, followed by M&M and Maruti: Ashwin Patil
I think that Tata Motors is better placed followed by M&M and the third is Maruti. Tata Motors is the top pick among auto stocks because the commercial vehicle (CV) industry is performing really well in the domestic market. Also, on the JLR side, things are improving, says Ashwin Patil, Equity Research Analyst, LKP Advisory… Continue reading Tata Motors is best auto pick, followed by M&M and Maruti: Ashwin Patil
Urea shortage threatens South Korea’s transport, energy industries
Approximately two million diesel vehicles, mostly cargo trucks, are required by government to use the additive, according to industry experts. SEOUL: South Korea is flying a military oil tanker to Australia this week to airlift 27,000 litres of urea solution, used in diesel vehicles and factories to cut emissions, amid a dire shortage threatening to… Continue reading Urea shortage threatens South Korea’s transport, energy industries
M&M Q2 PAT up 214% to INR 1,929 cr
Mahindra said it sold 99,334 vehicles during the period under review, up 9% from 91,536 units in the second quarter of last fiscal. New Delhi: Mahindra & Mahindra (M&M) Group on Tuesday reported a growth of 213.6% in its consolidated PAT to INR 1,928.64 crore in Q2 FY22 as against INR 614.64 crore during Q2… Continue reading M&M Q2 PAT up 214% to INR 1,929 cr
Single-window facility to install EV chargers
Delhi now hosts the cheapest EV charging facility you can find anywhere in the country. NEW DELHI: Charging electric vehicles (EVs) is set to become easier with Delhi government launching a single-window facility that aims to make the process of installing private EV charging points at commercial, institutional or residential locations a hassle-free experience. On… Continue reading Single-window facility to install EV chargers
Installation of electric vehicle charger will cost Delhi residents Rs 2,500
Delhi government is providing a subsidy of Rs 6,000 to the first 30,000 applicants for charging stations bringing down effective cost of each charger to just around Rs 2,500. New Delhi: Delhi government will charge only Rs 2,500 to install private chargers for light electric vehicles, including two and three wheelers at malls, apartments, hospitals… Continue reading Installation of electric vehicle charger will cost Delhi residents Rs 2,500