Tesla chief executive officer Elon Musk bought 72,500 shares of the company’s common stock, a regulatory filing showed on Wednesday. Musk bought the shares at between $342.44 and $347.44 per share in multiple transactions on Tuesday and Wednesday. He is already the electric car maker’s largest shareholder and now owns 33.74 million shares worth about… Continue reading Elon Musk buys 72,500 of Tesla shares
Author: Economic Times of India Online News
Peugeot to start Nigeria assembly plant by Q1
The DS 7 Crossback, launched this month in China, is the first vehicle to benefit from the CVMP. By Chijioke Ohuocha and Alexis Akwagyiram LAGOS: PSA Peugeot Citroen plans to start assembling cars in Nigeria by first quarter of 2019, via a joint venture with Africa’s richest man Aliko Dangote and five state governments, one… Continue reading Peugeot to start Nigeria assembly plant by Q1
Electric vehicle startup SF Motors takes over Indiana plant
The company says it will spend $160 million to buy, renovate and retool the factory, which will serve as the company’s main US manufacturing plant. It plans to employ up to 467 workers. MISHAWAKA, Ind.: An electric vehicle startup announced Wednesday that it is retooling an Indiana factory and hopes to conduct trial runs for… Continue reading Electric vehicle startup SF Motors takes over Indiana plant
PSA production move wins deal with German unions, angers French
Major French companies operating in Iran include PSA, rival carmaker Renault and oil major Total, while Airbus has also won orders from IranAir. PARIS: French carmaker PSA Group said on Wednesday it will move production of the Opel Grandland X model from France to Germany under a deal with Opel unions, drawing immediate criticism from… Continue reading PSA production move wins deal with German unions, angers French
Gati launches electric vehicle for its last mile deliveries
HYDERABAD: Gati flagged off its first environment-friendly electric vehicle for last mile delivery operations. A pilot project is being progressed in Hyderabad and NCR region with an ultimate objective of converting one-fourth of its 1500 plus business partner fleet in ground operations. Gati remains invested in the e-Commerce sector with footprint expansion and new product… Continue reading Gati launches electric vehicle for its last mile deliveries
Hyundai investing $388 mn to update Alabama plant, build other
Gov. Kay Ivey says the investment will create 50 jobs in the area with an average annual salary of $52,000. MONTGOMERY, Ala.: Officials say Hyundai is planning to invest more than $350 million to build a plant in Alabama and also update an existing one there. News outlets report the automotive manufacturer with headquarters in… Continue reading Hyundai investing $388 mn to update Alabama plant, build other
OLA, Uber drivers on hunger strike from today
Last month in April, the strike went on for nine days but ended when companies agreed to some of their demands and promised to reconsider others. JAIPUR: The app based taxi drivers of OLA and Uber companies are going on a hunger strike from Friday against the high rates of commission charged by their respective… Continue reading OLA, Uber drivers on hunger strike from today
BMW targets group pre-tax margins of more than 10%
FRANKFURT: Germany’s BMW will target a group pre-tax profit of more than 10 billion euros ($11.9 billion) this year, finance chief Nicolas Peter told newspaper Handelsblatt on Tuesday, as the carmaker seeks to achieve double-digit margins in the long run. “We are striving to keep group pre-tax profit (margins) sustainably above 10 percent,” Peter said… Continue reading BMW targets group pre-tax margins of more than 10%
Fiat Chrysler CEO says company may ‘redirect’ Mexican auto exports
The revised agreement would not threaten the automaker’s Mexican production, he said. WASHINGTON: Fiat Chrysler Automobiles chief executive Sergio Marchionne said on Friday proposed changes to automotive rules by the US government may prompt the Italian-American automaker to shift exports of the company’s Mexican-made vehicles. Marchionne told Reuters that changes planned for automotive rules under… Continue reading Fiat Chrysler CEO says company may ‘redirect’ Mexican auto exports
ElringKlinger to supply battery systems for Sono Motors’ solar car
Some of the city of Pittsburgh’s fleet of electrical vehicles are parked under solar charging panels before a news conference announcing the facility debut, Wednesday, April 18, 2018, in Pittsburgh. The press release from the city says that they currently have four electric vehicles and later this year they will receive six more cars that… Continue reading ElringKlinger to supply battery systems for Sono Motors’ solar car