Category: News Site

Lithium producers must wait as pandemic slows electric vehicle revolution

JOHANNESBURG/HOUSTON (Reuters) – The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets. FILE PHOTO: A parking sign for electric vehicles is pictured, where U.S. electric vehicle pioneer Tesla announced to build its first European factory and… Continue reading Lithium producers must wait as pandemic slows electric vehicle revolution

Aston Martin chief leaves after 94% share price collapse

Struggling luxury UK carmaker Aston Martin has announced that chief executive Andy Palmer has stepped down. Tobias Moers is taking over from 1 August, with Keith Stanton filling the gap as interim chief operating officer. Mr Moers joins from Mercedes’ high-performance subsidiary AMG, where he is currently chief executive. Aston Martin was struggling before the… Continue reading Aston Martin chief leaves after 94% share price collapse

McLaren to cut 1,200 jobs as virus hits demand

UK supercar maker and Formula 1 team McLaren plans to cut more than a quarter of its workforce after the coronavirus crisis hit sales and advertising revenue. The firm employs about 4,000 people, and of the 1,200 to be made redundant, the vast majority will be in the UK. Formula 1 racing has been suspended,… Continue reading McLaren to cut 1,200 jobs as virus hits demand

Farasis Energy To Launch $480 Million IPO: Daimler To Participate?

The Chinese lithium-ion battery manufacturer Farasis Energy has received an approval to raise about 3.44 billion yuan ($480 million) in an initial public offering (IPO) on STAR board (Chinese equivalent of NASDAQ). According to Reuters‘ unofficial sources, Daimler is expected to participate in the IPO, as the German company already ordered batteries from Farasis, and… Continue reading Farasis Energy To Launch $480 Million IPO: Daimler To Participate?

Carqon electric cargo bike review: urban transport, solved

If you still think cars, even electric cars, are the future of urban transportation, the Carqon electric cargo bike is here to convince you otherwise. Cargo bikes are a way of life for many European families. For a decade, I bicycled my three kids everywhere in Amsterdam using a traditional “bakfiets.” My three-speed Dutch cargo… Continue reading Carqon electric cargo bike review: urban transport, solved

Aston Martin confirms sacking of chief after share collapse

Aston Martin Andy Palmer, who had been head of car firm since 2014, will be replaced by Tobias Moers Aston Martin chief executive Andy Palmer in 2018 as the company was floated on the London Stock Exchange. Photograph: Sarah Lee/The Guardian The luxury carmaker Aston Martin Lagonda has confirmed it has sacked its chief executive… Continue reading Aston Martin confirms sacking of chief after share collapse

China’s SVOLT to become first automotive battery supplier to launch Cobalt-free battery

Chinese battery supplier, SVOLT has announced that it will launch two Cobalt-free batteries for automotive application with start-of-production slated to begin from June 2021. The company says American EV maker Tesla had earlier revealed its plan to use cobalt-free batteries on Made-in-China Tesla Models. However, Tesla’s cobalt-free battery is still being launched a little late.… Continue reading China’s SVOLT to become first automotive battery supplier to launch Cobalt-free battery

Daimler to invest in Chinese EV battery maker Farasis’ $480 million IPO: sources

BEIJING/HONG KONG (Reuters) – Daimler AG (DAIGn.DE) plans to invest in Farasis Energy’s planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said. FILE PHOTO: Employees wearing face masks work at a plant of Daimler-BAIC… Continue reading Daimler to invest in Chinese EV battery maker Farasis’ $480 million IPO: sources

Volvo Limits Speed To 180 Km/h: Side Effect Is Positive For EVs

Volvo recently announced that all new models are now limited to a top speed of 180 km/h (112 mph) to reduce serious injuries and fatalities in accidents. Some might perceive it as a quite controversial move. Directly, it’s not related to electric cars, but it’s quite interesting and actually it might bring a significant positive… Continue reading Volvo Limits Speed To 180 Km/h: Side Effect Is Positive For EVs