Category: News Site

China’s Li Auto surges more than 50% after Nasdaq debut

(Reuters) – Li Auto Inc’s stock soared more than 50% following its debut on Nasdaq on Thursday, after the Chinese electric vehicle maker sold shares to investors in its $1.1 billion initial public offering (IPO) for a higher-than-expected price. The stock opened at $15.5 and extended gains to rise as much as $17.50, adding to… Continue reading China’s Li Auto surges more than 50% after Nasdaq debut

China’s electric SUV maker Li Auto raises $1.1 billion in U.S. IPO

Trade tensions between China and the U.S. have not stopped Chinese companies from eyeing to list on American stock exchanges. Li Auto, a five-year-old Chinese electric vehicle startup, raised $1.1 billion through its debut on Nasdaq on Thursday. The Beijing-based company is targeting a growing Chinese middle class who aspire to drive cleaner, smarter, and… Continue reading China’s electric SUV maker Li Auto raises $1.1 billion in U.S. IPO

Panasonic boosts energy density, trims cobalt in new 2170 battery cell for Tesla

Production to start at Tesla gigafactory in September Kirsten Korosec 13 hours Panasonic has developed new battery technology for the ‘2170’ lithium-ion cells it produces and supplies to Tesla, a change that improves energy density by 5% and reduces costly cobalt content. The new, higher-energy dense 2170 cells will be produced by Panasonic at Tesla’s… Continue reading Panasonic boosts energy density, trims cobalt in new 2170 battery cell for Tesla

Honda opens bookings for2 020 CBR1000RR-R Fireblade, Fireblade SP

Honda Motorcycle & Scooter India (HMSI) has opened bookings for its litre-class motorcycle – the CBR1000RR-R Fireblade and Fireblade SP – in the super sports category. Both machines will be introduced as completely built-up units (CBUs) in India, with deliveries commencing from end-August 2020. The CBR1000RR-R Fireblade and Fireblade SP were first showcased at the 2019… Continue reading Honda opens bookings for2 020 CBR1000RR-R Fireblade, Fireblade SP

Lanxess disinfectant claims to kill coronavirus SARS-CoV-2 in 60 seconds

Lanxess, the 6.8 billion euro German specialty chemicals company can help automobiles get lighter with various solutions. It can now also kill SARS-Cov-2, the virus that causes Covid-19. Lanxess says that its Rely+On Virkon broad spectrum disinfectant, ‘demonstrates extremely rapid efficacy against the SARS-CoV-2 virus’. The claim is based on the finding of a recent… Continue reading Lanxess disinfectant claims to kill coronavirus SARS-CoV-2 in 60 seconds

SMMT CEO: 11,000 UK automotive job losses “the tip of the iceberg”

The UK automotive sector could suffer a significantly higher number of job losses than the 11,000 estimated by the Society of Motor Manufacturers and Traders, its chief executive has said. Speaking during the inaugural Autocar Business Live event, SMMT boss Mike Hawes admitted it will be “difficult to forecast” the total number of losses that… Continue reading SMMT CEO: 11,000 UK automotive job losses “the tip of the iceberg”

A Chinese Tesla competitor skyrockets nearly 350% in just 2 days after announcing it will launch vehicles in the US next month (KNDI)

Visual China Group/ Getty Images/ Shares of Kandi Technologies have surged as much as 350% from Tuesday’s close, fueled by the electric-vehicle maker’s announcement that it will launch two of its cars in the US next month.   Kandi Technologies is a Chinese electric-vehicle maker that competes with the likes of Tesla and Nio. On Tuesday, Kandi… Continue reading A Chinese Tesla competitor skyrockets nearly 350% in just 2 days after announcing it will launch vehicles in the US next month (KNDI)

UK car production slumps to lowest level since 1954

The number of cars built in the UK over the past six months has slumped to the lowest since 1954, according to the industry’s trade body. A total of 381,357 cars were made the six months to June, down 42% on the period last year, said the Society of Motor Manufacturers and Traders (SMMT). The… Continue reading UK car production slumps to lowest level since 1954