FILE PHOTO: Workers enter Skoda Auto’s factory as the company restarts production after shutting down last month due to the coronavirus disease (COVID-19) outbreak in Mlada Boleslav, Czech Republic, April 27, 2020. REUTERS/David W Cerny PRAGUE (Reuters) – Czech carmaker Skoda Auto, part of the Volkswagen Group (VOWG_p.DE), reported a 25% drop in first-quarter operating… Continue reading VW’s Skoda braces for second-quarter hit after earnings drop
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VW’s Skoda operating profit drops 25% in first-quarter, expects biggest hit in first-quarter
FILE PHOTO: Workers enter Skoda Auto’s factory as the company restarts production after shutting down last month due to the coronavirus disease (COVID-19) outbreak in Mlada Boleslav, Czech Republic, April 27, 2020. REUTERS/David W Cerny PRAGUE (Reuters) – Operating profit at Czech carmaker Skoda Auto, part of the Volkswagen Group (VOWG_p.DE), fell 25% in the… Continue reading VW’s Skoda operating profit drops 25% in first-quarter, expects biggest hit in first-quarter
German car sector morale plunges ahead of crunch Merkel meeting
BERLIN (Reuters) – The business climate in Germany’s auto sector suffered its biggest slump in April and hit its lowest level since 1991, when the Ifo economic institute began collecting data post-reunification, a survey showed on Monday. FILE PHOTO: A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe’s largest… Continue reading German car sector morale plunges ahead of crunch Merkel meeting
German manufacturing output posts record contraction in April: PMI
FILE PHOTO: Automated vehicles carry parts for building Porsche Taycan electric cars at Porsche’s Zuffenhausen manufacturing complex, in Stuttgart, Germany, September 9, 2019. Picture taken September 9, 2019. REUTERS/Joe White BERLIN (Reuters) – German factory output shrank at the fastest rate on record in April and firms in the export-oriented sector cut jobs at the… Continue reading German manufacturing output posts record contraction in April: PMI
First Cobalt pioneers cobalt production for electric cars in North America
LONDON (Reuters) – First Cobalt said on Monday it expects to start making cobalt sulphate around the turn of the year and become North America’s first producer of the component crucial for batteries used in electric vehicles. The Canadian company’s plans for its cobalt refinery in Ontario, would be a step towards helping North America… Continue reading First Cobalt pioneers cobalt production for electric cars in North America
Elon Musk talks Tesla cars playing augmented reality games while driving
In a new comment, Elon Musk talks about possibly developing a game for Tesla cars using augmented reality game while driving… or Minecraft. For the last two years, Tesla has been spending some resources to involve video games into its user experience and it plans to do more of it in the future as Musk… Continue reading Elon Musk talks Tesla cars playing augmented reality games while driving
Exclusive: Nissan to retrench further in new plan to focus on U.S., Japan, China
(Reuters) – Nissan Motor Co Ltd (7201.T) will pull back from Europe and elsewhere to focus on the United States, China and Japan under a plan that represents a new strategic direction for the embattled carmaker, people with direct knowledge of the plan told Reuters. FILE PHOTO: People walk past a dealer shop of Nissan… Continue reading Exclusive: Nissan to retrench further in new plan to focus on U.S., Japan, China
Silver Lake to invest $747M in India’s Jio Platforms
Weeks after Facebook invested $5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $746.8 million) in Jio Platforms for about 1.15% stake in the Indian… Continue reading Silver Lake to invest $747M in India’s Jio Platforms
Tesla has applied for a license to become a UK energy provider
Sponsored Links Mark Brake via Getty Images Tesla has applied for a licence to become an energy provider in the UK, according to the Telegraph. That means it might bring it’s lithium-ion PowerPack battery technology to Britain, much as it did with its 100 megawatt Hornsdale PowerPack installation in South Australia. It may also be… Continue reading Tesla has applied for a license to become a UK energy provider
GM Korea to cut output of key SUV as virus hits U.S. exports: document
FILE PHOTO: The logo of GM Korea is seen at its Bupyeong plant in Incheon, South Korea, March 29, 2018. REUTERS/Kim Hong-Ji SEOUL (Reuters) – General Motors Co’s (GM.N) South Korean unit plans to sharply cut output this month at a factory producing its new Trailblazer sport-utility vehicle (SUV), as the coronavirus outbreak weighs on… Continue reading GM Korea to cut output of key SUV as virus hits U.S. exports: document