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Tesla reaches deal to build electric vehicle factory in China

Tesla has reached a deal with the Shanghai government to build a factory capable of producing 500,000 electric vehicles a year. The factory would be the automaker’s second assembly plant and aimed at serving the alluring Chinese market. Tesla and the Shanghai Municipal People’s Government announced Tuesday they had signed the cooperative agreement. Tesla announced… Continue reading Tesla reaches deal to build electric vehicle factory in China

Bike-share schemes battle for Paris turf, but it’s not all free-wheeling

PARIS (Reuters) – Grabbing a bicycle from a docking station and riding the streets of Paris used to be one of the city’s many charms, but the once-loved Velib system has fallen into disarray and some new dockless bike-share schemes are struggling to survive. FILE PHOTO: An employee of Velib’ Metropole self-service public bike by… Continue reading Bike-share schemes battle for Paris turf, but it’s not all free-wheeling

Tesla has signed an agreement to build a factory in Shanghai

The pop in Tesla’s share price is striking, he said, because the already cash-strapped Tesla just essentially made another financial commitment. “Even though a Gigafactory in China has been anticipated, now they have an agreement to finance the building of it,” he said. “That will put pressure on an already stressed balance sheet.” Even prior… Continue reading Tesla has signed an agreement to build a factory in
Shanghai

UPDATE 3-Tesla goes big in China with Shanghai plant

SHANGHAI (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk on Tuesday landed a deal with Chinese authorities to build a new auto plant in Shanghai, its first factory outside the United States, that would double the size of the electric car maker’s global manufacturing. Elon Musk and Shanghai Mayor Ying Yong shake hands.… Continue reading UPDATE 3-Tesla goes big in China with Shanghai plant

Tesla goes big in China with Shanghai plant

SHANGHAI (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk on Tuesday landed a deal with Chinese authorities to build a new auto plant in Shanghai, its first factory outside the United States, that would double the size of the electric car maker’s global manufacturing. Elon Musk and Shanghai Mayor Ying Yong shake hands.… Continue reading Tesla goes big in China with Shanghai plant

UPDATE 1-Tesla to open plant in Shanghai with annual capacity of 500,000 cars -local media

SHANGHAI (Reuters) – Tesla Inc on Tuesday signed agreements with Shanghai authorities that will allow it to open a plant in the Chinese city with an annual capacity of 500,000 cars, local media reported. FILE PHOTO: A woman sits in a Tesla Model 3 car during a media preview at the Auto China 2018 motor… Continue reading UPDATE 1-Tesla to open plant in Shanghai with annual capacity of 500,000 cars -local media

UPDATE 5-Tesla moves first to hike prices in China as trade war hits car makers

BEIJING/SHANGHAI (Reuters) – U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, the first automaker to do so in the world’s top automotive market in response to mounting trade tensions between the countries. The move is the earliest indication of how much higher Chinese… Continue reading UPDATE 5-Tesla moves first to hike prices in China as trade war hits car makers

Stefan Sommer becomes purchasing director at Volkswagen

Tuesday, 07/10/2018 09:59 clock Volkswagen brings the former boss of the supplier ZF , Stefan Sommer, on his board to Wolfsburg. The manager becomes the new purchasing manager. Volkswagen announced that the Supervisory Board had appointed Sommer effective January 1, 2019 for the procurement department. Sommer follows the long-term purchasing director Francisco Javier Garcia Sanz,… Continue reading Stefan Sommer becomes purchasing director at Volkswagen