Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after he polled Twitter users about selling 10% of his stake. In his first share sale since 2016, Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while he also sold… Continue reading Elon Musk sells $5bn in Tesla shares after Twitter poll
Author: Nikki News Feed
Toyota, Nissan, GM jump-start production as chip crunch eases
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Nissan lifts annual net profit forecast thanks to strong demand
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China EV startup Byton misses payroll as bankruptcy looms
Byton, a formerly highflying Chinese electric-vehicle startup, missed payments to workers and idled production lines as a local court started bankruptcy hearings. A court in Nanjing, Jiangsu province, held a hearing Monday on the request of Shanghai Huaxun Network System Co., a Byton creditor. Shanghai Huaxun demanded a bankruptcy proceeding for Nanjing Zhixing New Energy… Continue reading China EV startup Byton misses payroll as bankruptcy looms
Biden’s EV subsidy plan draws ire of Japan and European automakers
NEW YORK/WASHINGTON — Japanese and European automakers have cried foul over Washington’s plans to subsidize electric vehicles made by union labor, declaring that the treatment would amount to a two-tiered system favoring a select group of manufacturers. The Biden administration and Democratic lawmakers look to finalize a scheme that would grant a $4,500 tax credit… Continue reading Biden’s EV subsidy plan draws ire of Japan and European automakers
Toyota announces $461m Kentucky investment
GEORGETOWN, Ky. (AP) — Toyota Motor is investing $461 million into its first U.S. plant to add new technology, increase production flexibility and reduce its carbon footprint, the company said Friday in a statement. The announcement didn’t include new jobs at the central Kentucky facility, but officials said 1,400 temporary jobs would be converted into… Continue reading Toyota announces $461m Kentucky investment
Toyota in hot pursuit of Tesla, unveiling EV with 500 km range
NAGOYA, Japan — Toyota Motor shook up the auto industry over two decades ago when it offered the world’s first mass-produced hybrid, but the Japanese company has been late to embrace full electrics. It hopes to make up lost ground by debuting its first full-electric vehicle, touting a range approaching that offered by Tesla. The sport… Continue reading Toyota in hot pursuit of Tesla, unveiling EV with 500 km range
Toyota harnesses quantum computers to develop battery materials
TOKYO — Toyota Motor seeks to rev up its development of batteries used in electric vehicles by employing quantum computing to research new materials that can increase performance. The automaker will tie up with Tokyo-based QunaSys, which has expertise in quantum computing software, to perform simulations to determine the properties of a wide range of materials.… Continue reading Toyota harnesses quantum computers to develop battery materials
German chipmaker Infineon calls for rethink of auto supply chain
SINGAPORE — German chip giant Infineon Technologies is urging automakers to rethink their “just-in-time” supply chain strategy and instead start building up stockpiles of semiconductors as the global shortage of the key components drags on. The company, a leading provider of auto-related chips, predicts the chip crunch could last through the end of next year,… Continue reading German chipmaker Infineon calls for rethink of auto supply chain
Samsung SDI and Stellantis to set up EV battery venture in U.S.
SEOUL (Reuters) — South Korea’s Samsung SDI on Friday said it had entered an agreement for a joint venture with automaker Stellantis NV to produce electric vehicle battery cells and modules in the United States. The joint venture aims to start operations by the first half of 2025 with an initial annual battery production capacity… Continue reading Samsung SDI and Stellantis to set up EV battery venture in U.S.