By David Shepardson 2 Min Read WASHINGTON (Reuters) -German automaker Volkswagen AG’s U.S. unit confirmed Tuesday it will rename its U.S. operations as “Voltswagen of America” as it shifts its focus to electric vehicles. FILE PHOTO: A Volkswagen logo is show with an American flag at a car dealership in Carlsbad, California, U.S., September 23,… Continue reading VW confirms it will rebrand its U.S. unit as ‘Voltswagen’
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Musk says battery cell constraints impact production of Tesla Semi
By Reuters Staff 2 Min Read Slideshow ( 2 images ) (Reuters) -Tesla Inc chief Elon Musk tweeted on Tuesday that supply constraints related to battery cells are making it difficult to scale up production of its long-delayed Tesla Semi electric commercial truck, sending the company’s shares down nearly 2%. “Demand is no problem, but… Continue reading Musk says battery cell constraints impact production of Tesla Semi
Aviation startup Lilium to float in US via $3.3 billion SPAC deal
By Douglas Busvine 4 Min Read BERLIN (Reuters) -German air shuttle startup Lilium said on Tuesday it would float on the U.S. stock market via a reverse merger with Qell Acquisition Corp, a blank-cheque acquisition company, in a deal valuing the combined business at $3.3 billion. An undated handout picture from Munich flying taxi startup… Continue reading Aviation startup Lilium to float in US via $3.3 billion SPAC deal
Hyundai Motor to suspend some South Korea output due to chip, component supply issues
By Reuters Staff 2 Min Read FILE PHOTO: The logo of Hyundai Motors is seen on a steering wheel on display at the company’s headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – South Korea’s Hyundai Motor Co said on Tuesday it plans to temporarily suspend production at its Ulsan… Continue reading Hyundai Motor to suspend some South Korea output due to chip, component supply issues
Xiaomi announces smart EV business, to invest $10 billion over ten years
By Reuters Staff 1 Min Read FILE PHOTO: The logo of Xiaomi is seen inside the company’s office in Bengaluru, India, January 18, 2018. REUTERS/Abhishek N. Chinnappa SHANGHAI (Reuters) – Chinese smartphone maker Xiaomi Corp will invest $10 billion over the next ten years in a new smart electric vehicle (EV) business division, the company… Continue reading Xiaomi announces smart EV business, to invest $10 billion over ten years
SK Innovation says may pull its battery business out of U.S.
By Reuters Staff 2 Min Read SEOUL (Reuters) – South Korea’s SK Innovation Co Ltd said on Tuesday it is considering all options including pulling its battery business out of the United States if President Joe Biden does not overturn a trade panel’s decision against it by April 11. FILE PHOTO: The logo of SK… Continue reading SK Innovation says may pull its battery business out of U.S.
BMW has got its timing right for beefing up electric cars: CEO
By Nick Carey, Christina Amann 3 Min Read LONDON (Reuters) – BMW has timed its shift to electric cars well and its upcoming products will upend the perception the German carmaker is behind on electrification and could make its stock compete with the likes of Tesla Inc, its top executive said. Slideshow ( 5 images… Continue reading BMW has got its timing right for beefing up electric cars: CEO
Buffett-backed Chinese EV maker BYD profit up 162% in 2020
By Reuters Staff 1 Min Read Slideshow ( 2 images ) BEIJING (Reuters) – Chinese electric vehicle maker BYD Co Ltd,, which is backed by billionaire Warren Buffett, on Monday reported a 162% growth in 2020 net profit as it became a major mask maker amid the COVID-19 pandemic. BYD reported 4.23 billion yuan ($643.75… Continue reading Buffett-backed Chinese EV maker BYD profit up 162% in 2020
Toyota presses Australia to promote roll-out of hydrogen fuel stations
By Sonali Paul 2 Min Read MELBOURNE (Reuters) – Toyota Motor Corp on Monday opened its first commercial hydrogen fuel pump site in the Australian state of Victoria, urging the government to encourage the rollout of more sites to boost the take-up of cleaner cars. Slideshow ( 2 images ) The automaker is bringing in… Continue reading Toyota presses Australia to promote roll-out of hydrogen fuel stations
Tesla CEO Musk’s anti-union tweet from 2018 must be deleted: U.S. labor board
By Reuters Staff 3 Min Read (Reuters) – Tesla Inc Chief Executive Officer Elon Musk’s 2018 tweet threatening employees would lose their stock options if they formed a union was illegal and should be deleted, the U.S. National Labor Relations Board said on Thursday. FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk speaks during… Continue reading Tesla CEO Musk’s anti-union tweet from 2018 must be deleted: U.S. labor board