Author: World_Newz Mon

World NM: Indian CARS24 raises $20m from the Commercial Bank of Dubai001661

India-based automotive e-commerce platform CARS24 raised 75 million dirham ($20 million) in local debt funding from the Commercial Bank of Dubai. The debt funding fuels the company’s operational expansion in the UAE and provides it with significant funding flexibility, Wamda reported. The funding came following CARS24 ‘s $450 million funding round last September, and its announcement… Continue reading World NM: Indian CARS24 raises $20m from the Commercial Bank of Dubai001661

World NM: Memo From Elon Musk Asks Tesla Employees to Stop Rushing Deliveries001659

While vehicle deliveries were delayed for most brands throughout 2021 due to the chip shortage and other issues, a recent memo from Elon Musk stands out as being unusual. Tesla’s CEO urged company employees to stop rushing orders to obtain record deliveries and focus on reducing costs instead. Last year, Tesla Motors delivered almost 500,000… Continue reading World NM: Memo From Elon Musk Asks Tesla Employees to Stop Rushing Deliveries001659

World NM: Ford, GlobalFoundries partners to offset chip supplies shortage001654

RIYADH: US Ford Motor Co. will explore buying chips directly from GlobalFoundries, as a response to a global semiconductor shortage that’s crimped profits and production, Bloomberg reported. This agreement marks one of the first direct tie-ups between a major automaker and a chip producer to result from the semiconductor shortfall. The chip shortage has dented profits… Continue reading World NM: Ford, GlobalFoundries partners to offset chip supplies shortage001654

World NM: Car show to bring more than 600 exotic and rare automobiles to Riyadh001652

What is considered to be the biggest car show in the region opened its doors to the public on Thursday displaying more than 600 exotic and rare automobiles in one venue for all eyes to see. Car enthusiasts will be able to see classic and modern sports cars from prestigious manufacturers such as Ferrari, Lamborghini,… Continue reading World NM: Car show to bring more than 600 exotic and rare automobiles to Riyadh001652

World NM: Rivian sees $23bn wiped out following recent market debut001651

RIYADH: The runaway five-day rally in Rivian Automotive Inc. came to an abrupt halt on Wednesday, wiping out over $23 billion from the newly public automaker. Rivian, an American electric car manufacturer, saw its shares slide by 18 percent to $140.35 per share in New York, Bloomberg reported. Go to Source

World NM: TVR Signs Deal With Green Lithium Mining Corporation, Good News Ahead001646

TVR has signed an agreement with a company called Ensorcia Metals Corporation. The latter is a green lithium firm that will form a joint venture with TVR to build electric vehicles. Through another branch of Ensorcia, TVR will build the V8-powered Griffith, so fans of the brand should be somewhat happy. Just a few months… Continue reading World NM: TVR Signs Deal With Green Lithium Mining Corporation, Good News Ahead001646

World NM: Volvo Considers New Factory in Europe, Wants to Build More Vehicles Per Year001645

Volvo Cars is pondering the possibility of a third factory in Europe, which would boost production capacity beyond its current maximum. So, instead of up to 1.2 million vehicles per year, the Swedish marque eyes significantly more, but without disclosing the company’s targets. The alleged new factory would be built sometime by the half of… Continue reading World NM: Volvo Considers New Factory in Europe, Wants to Build More Vehicles Per Year001645

World NM: Syrena: Poland’s retro electric car rolls back the years 15.11.2021001644

After the successful launch of a combustion engine version of the iconic communist-era car, the Syrena, its Polish carmaker Fabryka Samochodow Osobowych (FSO) wants to launch an electric version. The project has been possible thanks to financial support from Polfarmex and the Polish government, and the EU’s Innovative Economy initiative providing 4.5 million zlotys (€1… Continue reading World NM: Syrena: Poland’s retro electric car rolls back the years
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