The company said it intends to file a Form 25 with the SEC on or around January 13, 2023 to delist its ADSs from the NYSE. New Delhi: Auto major Tata Motors on Wednesday said it plans to delist its American Depositary Shares (ADS) from January, almost about 18 years since they first started trading.… Continue reading Tata Motors to delist American Depositary Shares from January
Author: Economic Times of India Online News
Regaining UK market legacy, leveraging synergies for India among priorities for Switch Mobility’s new CEO Mahesh Babu
Key markets where it wants to tap this opportunity are the UK, India, Europe, and Africa. Along with the global demand for better carbon footprint and space efficient transportation solutions grow opportunities for the OEMs offering them. For Switch Mobility, the key markets where it wants to tap this opportunity are the UK, India, Europe,… Continue reading Regaining UK market legacy, leveraging synergies for India among priorities for Switch Mobility’s new CEO Mahesh Babu
Automakers, foreign governments seek changes to U.S. EV tax rules
The U.S. Treasury last month sought input from automakers and others as it implements the new law. By David Shepardson Hyundai Motor Group and other automakers want the United States to delay implementation of new electric vehicle tax credit rules that make vehicles assembled outside North America ineligible. South Korea, Japan, Brazil and the European… Continue reading Automakers, foreign governments seek changes to U.S. EV tax rules
California voters reject tax on rich for more electric cars
Newsom, who handily won a second term, did not immediately comment on the measure’s defeat. California’s wealthiest residents won’t see a tax increase after voters rejected a measure Tuesday that would have boosted rates on incomes above $2 million to help put more electric cars on the roads. Proposition 30′s defeat marks a win for… Continue reading California voters reject tax on rich for more electric cars
Canada’s Ritchie Bros to buy auto retailer IAA in $7.3 bln deal
The tie-up will also give Ritchie greater scale, while boosting its ability to cross-sell services across those industries and generate newer, fee-based revenue streams. By Kannaki Deka and Anirban Sen Canada’s Ritchie Bros Auctioneers Inc , which sells heavy industrial equipment, on Monday agreed to buy U.S.-based vehicle marketplace IAA Inc in a deal valued… Continue reading Canada’s Ritchie Bros to buy auto retailer IAA in $7.3 bln deal
Schaeffler axes 1,300 jobs as auto industry goes electric
Schaeffler shares jumped nearly 10% on news of the labour cost savings and on a 27% year-on-year rise in third-quarter revenue to 4.24 billion euros. By Tristan Chabba German automotive supplier Schaeffler plans to cut 1,300 jobs, or 1.6% of its global workforce, as the sector grapples with the shift from combustion engines to electric… Continue reading Schaeffler axes 1,300 jobs as auto industry goes electric
Elon Musk sells $3.95 billion of Tesla stock after buying Twitter
Elon Musk NEW YORK: Tesla Inc Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle maker’s shares just days after closing his buyout of Twitter Inc. Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The filings didn’t indicate that the… Continue reading Elon Musk sells $3.95 billion of Tesla stock after buying Twitter
Audio Interview: U.S. Trade Representative 4-year review of Section 301 Tariffs on China Imports
In this Audio Interview, Ron Hesse speaks with Les Glick, who is co-chair of the Butzel Long International Trade and Customs Specialty team, based in their Washington DC Office. Les was recently appointed to be co-chair of the American Bar Association, International Law section, International Trade and Customs committee that has over 400 members. He… Continue reading Audio Interview: U.S. Trade Representative 4-year review of Section 301 Tariffs on China Imports
54 per cent Indians consumers concerned about EV quality, not range
New Delhi: About 50 per cent of Indian consumers are now open to buying EVs, albeit with a caveat, while 54 per cent of consumers are still concerned about EV quality, a report showed on Monday, adding that EV range anxiety now appears to be a misperception. As per the report by CyberMedia Research (CMR),… Continue reading 54 per cent Indians consumers concerned about EV quality, not range
Italian EV startup takes on US, Chinese rivals with design
Nada has hired a former Lamborghini designer to help infuse his vehicles with Italian emotion and is emphasising aerodynamics over performance. Elon Musk’s Tesla paved the way nearly two decades ago. Now, the global transition to fully electric vehicles is littered with startups, inspired by a new era in mobility and drawn by the lower… Continue reading Italian EV startup takes on US, Chinese rivals with design