Uncategorized – Page 247 – I wish I had more to offer

Audi CEO: planning electric car factory in U.S. due to IRA, article with image

BERLIN, Feb 24 (Reuters) – German carmaker Audi is planning an electric car factory in the United States to take advantage of the subsidies offered through the Inflation Reduction Act (IRA), Chief Executive Markus Duesmann told the Frankfurter Allgemeine Sonntagszeitung. “We don’t have a factory in the U.S. yet. With the American government’s Inflation Reduction… Continue reading Audi CEO: planning electric car factory in U.S. due to IRA, article with image

Technologycategory

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Exclusive: Hyundai to divest Alabama subsidiary following child labor revelations

NEW YORK, Feb 24 (Reuters) – South Korean automaker Hyundai Motor Co (005380.KS) on Friday told shareholders that it would divest its controlling stake in a major Alabama auto parts plant where Reuters last year documented children as young as 12 were working. In a Feb. 24 letter to shareholders from Hyundai Chief Executive Jaehoon… Continue reading Exclusive: Hyundai to divest Alabama subsidiary following child labor revelations

Human Rightscategory

Elon Musk’s challenge: Stay ahead of the competition

DETROIT, Feb 24 (Reuters) – Elon Musk will confront a critical challenge during Tesla’s Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead. Tesla Inc (TSLA.O) was the No. 1 EV maker worldwide in 2022, but China’s BYD… Continue reading Elon Musk’s challenge: Stay ahead of the competition

Exclusive: EV maker Nio plans new 40 GWh battery plant in China, article with gallery

SHANGHAI, Feb 24 (Reuters) – Nio (9866.HK) plans to build its first battery plant to produce big cylindrical cells similar to those used by Tesla, two people familiar with the matter said, as the Chinese EV maker seeks to cut its reliance on suppliers like CATL (300750.SZ). The new plant will have an annual capacity… Continue reading Exclusive: EV maker Nio plans new 40 GWh battery plant in China, article with gallery

UK auto body calls for competitive help amid protectionism fears, article with image

Feb 24 (Reuters) – Britain’s auto industry said on Friday it was looking to the upcoming budget to help boost competitiveness and investment in the sector in light of “increasing protectionism” that could hurt the UK economy. The call comes amid concerns in Europe that the U.S. Inflation Reduction Act (IRA), which promises hundreds of… Continue reading UK auto body calls for competitive help amid protectionism fears, article with image

Worldcategory

Ford names Sam Wu as new CEO for Ford China, article with image

Feb 23 (Reuters) – Ford Motor Co (F.N) said on Thursday Sam Wu managing director and COO of Ford joint venture in China has been named as its chief executive and president. Anning Chen the current president and chief executive of Ford China will retire on Oct. 1 and Wu’s assignment will begin on March… Continue reading Ford names Sam Wu as new CEO for Ford China, article with image

Carvana’s net loss widens on cooling used car demand, article with image

Feb 23 (Reuters) – Carvana Co (CVNA.N) said on Thursday its net loss rose over nine-fold in the fourth quarter hurt by shrinking demand for pre-owned vehicles, sending its shares down 5% in extended trade. The debt-laden used car retailer has been struggling to sell cars it acquired at elevated rates last year when semiconductor… Continue reading Carvana’s net loss widens on cooling used car demand, article with image