Dunlop Brand Changes Hands: Goodyear Strikes $701 Million Deal with Sumitomo To Power Forward Plan The Goodyear Tire & Rubber Company (NASDAQ:GT) shares are trading flat premarket on Wednesday. On Tuesday, the company entered a deal to sell its Dunlop brand to Sumitomo Rubber Industries (SRI) for cash proceeds of around $701 million. The purchase… Continue reading Dunlop Brand Changes Hands: Goodyear Strikes $701 Million Deal with Sumitomo To Power Forward Plan
Author: Yarhow_Finance Online News
China’s Big EV Push Into Europe Fizzles Out on Tariffs, Slowdown
(Bloomberg) — Five years of rapid European growth for Chinese electric-car manufacturers ground to a halt in 2024, as trade barriers added to the challenge of building up sales in a stagnant market. Most Read from Bloomberg Brands led by SAIC Motor Corp.’s MG registered 3.5% fewer EVs in the region for all of 2024,… Continue reading China’s Big EV Push Into Europe Fizzles Out on Tariffs, Slowdown
GM’s 100-year-old China business can’t keep up with the EV boom there
Mary Barra, CEO of General Motors, got a question at a recent panel that almost every auto CEO has grappled with in the past year: Why is your company doing so poorly in China? Less than a decade ago, China was an easy source of cash for GM, an “automatic” $2 billion-a-year dividend for investors,… Continue reading GM’s 100-year-old China business can’t keep up with the EV boom there
Chinese EV Makers Hit EU Wall as Tariffs Add to Import Costs
(Bloomberg) — Chinese automakers captured their smallest share of Europe’s electric-vehicle market in eight months, after new tariffs added as much as 35% to the cost of importing cars to the region. Most Read from Bloomberg Manufacturers such as BYD Co. and SAIC Motor Corp.’s MG accounted for 7.4% of EV registrations across Europe in… Continue reading Chinese EV Makers Hit EU Wall as Tariffs Add to Import Costs
China’s carmakers shift up a gear
Not long ago, the message from global carmakers was clear: the internal combustion engine was a relic of the past. A long list of legacy carmakers… Go to Source
Dongfeng Motor shares surge as restructuring plans prompt merger speculation
HONG KONG (Reuters) -Shares of Dongfeng Motor soared as much as 85.8% in Hong Kong on Monday after the Chinese automaker said its parent was planning a restructuring, stoking speculation that some of the state-owned players could be merged as competition grows. The stock jumped to HK$6, its highest since July 2022, shortly after the… Continue reading Dongfeng Motor shares surge as restructuring plans prompt merger speculation
Nissan to start producing EVs for Dongfeng Motor by year-end, Nikkei reports
TOKYO (Reuters) -Nissan Motor will produce electric vehicles for its Chinese joint-venture partner Dongfeng Motor at its Wuhan factory by year-end, the Nikkei newspaper reported on Tuesday, a sign of pressure on the automaker’s China business. By producing EVs for Dongfeng, Nissan aims to reduce fixed costs and increase the operating rate of the factory,… Continue reading Nissan to start producing EVs for Dongfeng Motor by year-end, Nikkei reports
Why GM stock has gotten hit hard on earnings
General Motors’ (GM) hot stock has sprung a leak after its latest earnings report on Tuesday. Shares of the auto giant fell as much as 11% on Tuesday and closed down 9%. It marked the worst day for the stock since March 2020. The stock shed another 1% through midday trading on Wednesday. The stock… Continue reading Why GM stock has gotten hit hard on earnings
GM CEO Mary Barra: I’ve talked to President Trump about tariffs
General Motors (GM) chair and CEO Mary Barra has made her case on tariffs to President Trump. “We’ve done a lot of scenario planning and we know the levers that we can pull to minimize any impact. But having the opportunity to talk to the president, I really believe he wants a strong manufacturing sector… Continue reading GM CEO Mary Barra: I’ve talked to President Trump about tariffs
Tesla’s future under President Trump: Weigh AI potential against slowing EV demand
Tesla’s (TSLA) eye-watering post-election rally may soon resume. The stock, which has rocketed a staggering 65% since Nov. 5, has taken a breather in recent weeks, as worry over slowing demand trends and a rollback of pro-EV policies raised fears of near-term financial performance. Tesla shares fell 4% during President Trump’s first week back in… Continue reading Tesla’s future under President Trump: Weigh AI potential against slowing EV demand