A written White House summary of the talks said countries expressed willingness to work together to make supply chains more resilient. By Jeff Mason and Jan Strupczewski ROME: U.S. President Joe Biden and 16 other world leaders on Sunday discussed action to make supply chains more resilient in the face of any future health crises,… Continue reading World leaders seek ways to strengthen global supply chains
Author: Economic Times of India Online News
SK Innovation flags steady Q4 growth in refining margins
“The third quarter operating profit of petrochemical business edged up marginally as upward swing in crude prices and key product crack concentrated mostly in September,” SK Innovation said in a statement. SK Innovation Co Ltd, owner of South Korea’s top refiner SK Energy, said on Friday that it expects steady fourth-quarter growth in refining margins… Continue reading SK Innovation flags steady Q4 growth in refining margins
EV startup REVOS launches peer to peer charging point at Rs 1
In the next two years, REVOS aims to install more than 1 million BOLT charging points across 500 cities and other emerging markets. BOLT is available on the REVOS website for Rs 3,000 without the launch offer. EV infrastructure provider REVOS on Tuesday launched BOLT, peer-to-peer charging points which will be available at a launch… Continue reading EV startup REVOS launches peer to peer charging point at Rs 1
Takeover target Veoneer’s losses narrow ahead of Qualcomm deal
Chipmaker Qualcomm Inc and SSW Partners said this month they had reached an agreement to buy Veoneer for $4.5 billion. STOCKHOLM: Swedish automotive technology group Veoneer reported on Tuesday a narrower third-quarter loss amid a global chip shortage and said it would no longer provide an outlook as it focused on its looming merger. Chipmaker… Continue reading Takeover target Veoneer’s losses narrow ahead of Qualcomm deal
GM, Ford results likely to reflect chip shortage’s varying impacts on sector
DETROIT: General Motors Co and Ford Motor Co are likely to show investors both the positive and negative financial impacts of the global semiconductor chip shortage when the U.S. automakers report third-quarter results on Wednesday. GM and Ford have had to bring some assembly lines to a halt for lack of semiconductors, and contend with… Continue reading GM, Ford results likely to reflect chip shortage’s varying impacts on sector
LG Chem Q3 results miss estimates, hit by GM Bolt recall cost
Revenue rose 41% to 10.6 trillion won, LG Chem said in a regulatory filing. South Korea’s LG Chem Ltd posted a 20% fall in quarterly profit on Monday, hurt by a one-off expense associated with the recall of General Motors‘ Bolt electric vehicles. It reported an operating profit of 727 billion won ($617.55 million) for… Continue reading LG Chem Q3 results miss estimates, hit by GM Bolt recall cost
Evergrande, EV unit shares set to jump after chairman signals business shift
Evergrande chairman Hui Ka Yan said late on Friday that the company would aim to make its new electric vehicle venture its primary business instead of property within 10 years. Shares in China Evergrande Group are set to open up more than 4% on Monday after the embattled property developer announced it planned to give… Continue reading Evergrande, EV unit shares set to jump after chairman signals business shift
RevFin raises $4 million in pre-series A funding round
RevFin, which runs a digital lending platform that finances electric vehicles for commercial use, has raised $4 million (about Rs 30 crore) in pre-series A funding round with both equity and debt. The funding round was led by Redcliffe Life Solutions founder Dheeraj Jain. Other investors in the round included Let’s Venture Angel Fund; Anuraag… Continue reading RevFin raises $4 million in pre-series A funding round
Taiwan’s Foxconn shows off three electric vehicle prototypes
Foxtron Vice Chairman Tso Chi-sen told reporters that electric vehicles would be worth a trillion Taiwan dollars to Foxconn in five years time – a figure equivalent to around $35 billion. TAIPEI: Taiwan tech giant Foxconn unveiled its first three electric vehicle prototypes on Monday, underscoring ambitious plans to diversify away from its role of… Continue reading Taiwan’s Foxconn shows off three electric vehicle prototypes
Maker Village sees more startups in EV segment
According to Mohammed, there is a trend of EV startups happening now. Kochi: Startups operating in the electric vehicle (EV) or automobile space are getting traction and the Maker Village, the country’s largest hardware incubator, is finding a high number of such startups among their applicants. Currently, there are at least seven startups operating in… Continue reading Maker Village sees more startups in EV segment