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Tesla Will Use Prismatic LFP Cells From CATL, Says British Company

First, Tesla and CATL confirmed they had signed a supply deal. Then Reuters said that CATL would sell Tesla a cobalt-free solution: lithium iron phosphate (LFP) cells. Now, Simon Moores, the managing director for Benchmark Mineral Intelligence, revealed that Tesla will buy prismatic LFP cells from CATL solely for cost reasons. Benchmark Mineral Intelligence presents… Continue reading Tesla Will Use Prismatic LFP Cells From CATL, Says British Company

UPDATE 2-General Motors to lay off all 1,500 plant workers in Thailand following sale

FILE PHOTO: A general view of the General Motors (GM) plant in the Eastern Seaboard Industrial Estate in Rayong province, Thailand February 22, 2011. REUTERS/Chaiwat Subprasom/File Photo BANGKOK (Reuters) – General Motors will begin laying off around 1,500 employees in Thailand in June, after announcing the sale of its production plants in the country, a… Continue reading UPDATE 2-General Motors to lay off all 1,500 plant workers in Thailand following sale

Renault shares fall after Moody’s cuts its debt to ‘junk’ status

PARIS (Reuters) – Renault’s (RENA.PA) shares fell on Wednesday after Moody’s cut its rating on the French carmaker’s debt to “junk” status, citing weaker profitability as the company restructures and grapples with falling demand. FILE PHOTO: The logo of French carmaker Renault is seen before the company’s 2019 annual results presentation at their headquarters in… Continue reading Renault shares fall after Moody’s cuts its debt to ‘junk’ status

Hyundai Motor chairman to give up board seat as succession looms

FILE PHOTO: Hyundai Motor Group Chairman Chung Mong-koo arrives to attend a hearing at the National Assembly in Seoul, South Korea, December 6, 2016. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – Hyundai Motor Group (005380.KS) Chairman Mong-Koo Chung plans to give up his board seat, in the latest sign that the octogenarian patriarch of South Korea’s… Continue reading Hyundai Motor chairman to give up board seat as succession looms

General Motors to lay off all 1,500 plant workers in Thailand following sale

BANGKOK, Feb 19 (Reuters) – General Motors will begin laying off around 1,500 employees in Thailand in June, after announcing the sale of its production plants in the country, a government official said on Wednesday. GM said on Monday it would sell its two plants in the eastern industrial province of Rayong to China’s Great… Continue reading General Motors to lay off all 1,500 plant workers in Thailand following sale

UPDATE 1-Ally Financial to buy CardWorks in $2.65 bln deal

(Reuters) – Auto lender Ally Financial Inc (ALLY.N) on Tuesday agreed to acquire privately held CardWorks for $2.65 billion as it looks to diversify its consumer product offerings, supported by a growing and low-cost deposit base. CardWorks, which is a non-prime credit card and consumer finance lender, has $4.7 billion in assets and $2.9 billion… Continue reading UPDATE 1-Ally Financial to buy CardWorks in $2.65 bln deal

SsangYong Motors UK adds York dealership to its network

SsangYong Motors UK has announced the addition of a new franchised dealership to its network. Optimum Vehicles, trading as SsangYong York, has been supplying vehicles to customers for over 10 years. Nick Laird, managing director of SsangYong Motors UK said: “Optimum Vehicles has a well-established presence and excellent reputation in Yorkshire and the north, and… Continue reading SsangYong Motors UK adds York dealership to its network

Tesla May Buy CATL’s Lithium Iron Phosphate Cobalt-Free Cells

Frequent readers of InsideEVs probably remember when CATL and Tesla signed a battery supply agreement. It was on February 3, and that led CATL to be one of the three battery suppliers Tesla currently has. Besides Panasonic, LG will also sell to the American EV manufacturer. Now Reuters reports that the companies are discussing the… Continue reading Tesla May Buy CATL’s Lithium Iron Phosphate Cobalt-Free Cells