By Joseph White 3 Min Read DETROIT (Reuters) – General Motors Co said it has sold out the first year’s worth of its hulking GMC Hummer EV electric pickup truck after a splashy video reveal on Tuesday. FILE PHOTO: A logo of General Motors is pictured at its plant in Silao, in Guanajuato state, Mexico,… Continue reading GM sells out first year of electric Hummer production
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Honda reaches $5 million defective air bag settlement with Arizona
By Reuters Staff 1 Min Read FILE PHOTO: The Honda logo displayed at the 89th Geneva International Motor Show in Geneva, Switzerland, March 5, 2019. REUTERS/Pierre Albouy/File Photo (Reuters) – Arizona reached a $5 million settlement with Honda Motor Co’s U.S. units Wednesday in a probe into defective Takata air bag systems, state Attorney General… Continue reading Honda reaches $5 million defective air bag settlement with Arizona
Nikola shares jump after report says GM executive backs deal
By Reuters Staff 1 Min Read (Reuters) – Shares of Nikola Corp NKLA.O rose nearly 10% on Wednesday after a General Motors GM.N executive told CNBC the Detroit-based automaker still sees a partnership with the electric-vehicle start-up being a great opportunity. The report quoted GM President Mark Reuss saying there were “great” operational cost advantages,… Continue reading Nikola shares jump after report says GM executive backs deal
Uber offers more than €1 billion to buy Daimler/BMW’s freenow: Manager Magazin
By Reuters Staff 1 Min Read FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. Picture taken December 12, 2019. REUTERS/Luisa Gonzalez FRANKFURT (Reuters) – Ride-hailing firm Uber UBER.N has offered more than 1 billion euros to buy Daimler DAIGn.DE and BMW’s BMWG.DE joint mobility services company Freenow, Manager… Continue reading Uber offers more than €1 billion to buy Daimler/BMW’s freenow: Manager Magazin
Tesla supplier LG Chem to boost battery capacity
By Hyunjoo Jin, Heekyong Yang 3 Min Read SEOUL (Reuters) – Electric vehicle battery maker LG Chem 051910.KS plans to triple production capacity for cylindrical batteries used by Tesla and others, and is considering expansion in Europe and North America to meet surging demand, it said on Wednesday. FILE PHOTO: The logo of LG Chem… Continue reading Tesla supplier LG Chem to boost battery capacity
Tesla supplier LG Chem sees rising battery profit after record earnings
By Reuters Staff 1 Min Read FILE PHOTO: The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji SEOUL (Reuters) – LG Chem 051910.KS, an electric battery supplier for Tesla TSLA.O and Volkswagen VOWG_p.DE, on Wednesday forecast a further rise in its battery sales and… Continue reading Tesla supplier LG Chem sees rising battery profit after record earnings
VW gauges interest in Ducati brand as a prelude to potential sale: sources
LONDON/FRANKFURT (Reuters) – Volkswagen Group VOWG_p.DE is hosting preliminary talks with potential bidders for its Ducati brand to gauge potential interest in the motorcycle maker ahead of a November planning round, three people familiar with the matter told Reuters. Slideshow ( 2 images ) During the five-year planning round, VW will review the future of… Continue reading VW gauges interest in Ducati brand as a prelude to potential sale: sources
‘Extremely damaging’ no deal in Brexit trade talks would cut Bentley’s profits
By Reuters Staff 1 Min Read FILE PHOTO: A logo of Bentley is seen outside a Bentley car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman (Reuters) – Failure to strike a Brexit trade deal with the EU would be “extremely damaging” and cut profits by up to… Continue reading ‘Extremely damaging’ no deal in Brexit trade talks would cut Bentley’s profits
Toyota bets on start-up Tugende’s small loans to boost Africa business
By Elias Biryabarema 3 Min Read KAMPALA (Reuters) – The trading arm of the Toyota Group has invested $4 million in Ugandan start-up Tugende, saying it hopes the firm’s loans to small, independent businesses will also help customers buy the carmaker’s vehicles. Launched in 2012 in Uganda, Tugende began by offering motorcycle loans to riders… Continue reading Toyota bets on start-up Tugende’s small loans to boost Africa business
Hyundai Motor, Kia Motors flag $2.9 billion earnings hit from quality costs
By Reuters Staff 2 Min Read FILE PHOTO: The Hyundai logo is seen outside a Hyundai car dealer in Golden, Colorado, November 3, 2014. REUTERS/Rick Wilking SEOUL (Reuters) – Hyundai Motor 005380.KS and affiliate Kia Motors 000270.KS said on Monday that their third-quarter earnings would reflect quality-related costs amounting to a combined 3.36 trillion won… Continue reading Hyundai Motor, Kia Motors flag $2.9 billion earnings hit from quality costs