Author: World_Newz Mon

World NM: Tesla’s dirty little secret: Its net profit doesn’t come from selling cars000804

New York (CNN Business)Tesla posted its first full year of net income in 2020 — but not because of sales to its customers. If they can’t, the automakers have to buy regulatory credits from another automaker that meets those requirements — such as Tesla. Its automotive gross profit, which compares total revenue from its car… Continue reading World NM: Tesla’s dirty little secret: Its net profit doesn’t come from selling cars000804

World NM: SsangYong Motor Q4 loss widens amid pandemic000799

SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Friday its fourth-quarter net losses widened from a year earlier due to weak sales amid the coronavirus pandemic. Mahindra acquired a 70 percent stake in SsangYong for 523 billion won in 2011 and now holds a 74.65 percent stake in… Continue reading World NM: SsangYong Motor Q4 loss widens amid pandemic000799

World NM: SsangYong Motor says deal with potential buyer is ‘still under way’000790

SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Thursday that its Indian parent company is still in talks to sell its controlling stake, denying media reports that the deal has fallen through. Ssangyong filed for court receivership on Dec. 21 after the SUV-focused carmaker failed to obtain approval… Continue reading World NM: SsangYong Motor says deal with potential buyer is ‘still under way’000790

World NM: EU jump-starts battery development projects with more subsidies 27.01.2021000780

The aim by 2025 was an EU battery industry capable of powering at least six million electric cars, EU commission vice-president Maros Sefcovic, responsible for the bloc’s strategic futures planning. The European Commission’s approval of €2.9 billion ($3.5 billion) in subsidies is the second such pan-European scheme, following €3.2 billion approved in 2019 across seven countries. Last… Continue reading World NM: EU jump-starts battery development projects with more subsidies 27.01.2021000780

World NM: Jaguar Land Rover stuck at a red light with its strategy on hold000769

There’s a saying in the West Midlands that when Jaguar Land Rover sneezes, the region catches a cold. Plans to build an electric version of the flagship XJ saloon at Castle Bromwich and make the plant a centre for electrification have been delayed by the pandemic and poor sales. JLR’s real problem remains scale, and… Continue reading World NM: Jaguar Land Rover stuck at a red light with its strategy on hold000769

World NM: Tel Aviv startup offers clear route for car computer vision000754

Carmakers are racing to meet new high-tech safety standards, such as automatic emergency braking systems, that are expected to take effect across Europe and the United States next year. Israeli startup Brodmann17 hopes that its cheaper and hyper-efficient software will lower the cost of the sophisticated artificial intelligence and machine-learning applications behind these new driving… Continue reading World NM: Tel Aviv startup offers clear route for car computer vision000754

World NM: Ford closes German plant for 1 month as global chip crisis worsens000752

London (CNN Business)Ford has ordered a month-long production halt at one of its plants in Germany, the latest sign that a global shortage of computer chips is putting carmakers under increasing pressure and threatening their recovery from the pandemic. The disruption comes at a crucial time for carmakers, which suffered a collapse in sales in… Continue reading World NM: Ford closes German plant for 1 month as global chip crisis worsens000752

World NM: Baidu unlikely to sell vehicles to individuals000749

Baidu’s decision to produce cars have caused a stir in the capital and automotive markets, but the Chinese tech company is more likely to build robotaxi fleets than sell vehicles to individual customers. Baidu did not offer details on how its vehicles will be different than those from Tesla or any other gasoline car challenger… Continue reading World NM: Baidu unlikely to sell vehicles to individuals000749