Category: Automotive

Exclusive: Tesla expects global shortage of electric vehicle battery minerals -sources

WASHINGTON (Reuters) – Tesla Inc expects global shortages of nickel, copper and other electric-vehicle battery minerals down the road due to underinvestment in the mining sector, the company’s global supply manager for battery metals told an industry conference on Thursday, according to two sources. FILE PHOTO: The logo of Tesla is seen in Taipei, Taiwan… Continue reading Exclusive: Tesla expects global shortage of electric vehicle battery minerals -sources

Asia in charge of electric car battery production

China also has 80 percent of the world’s capacity to produce refined cobalt using chemical processes. Paris: Global production of batteries for electric cars is concentrated in Asia, with Chinese, Japanese and South Korean firms dominating the sector and building factories in Europe to conserve their supremacy. However Europe is looking to strike back, with… Continue reading Asia in charge of electric car battery production

Tesla ends ‘Spartan diet’ and seeks $2.3 billion to fund expansion

(Reuters) – Tesla Inc will raise up to $2.3 billion in new capital, renouncing what Elon Musk called a “Spartan diet” and easing Wall Street concerns about the money-losing company’s ability to overcome a drop in sales and build new product lines. Tesla’s plan to issue shares and convertible debt comes after the company repeatedly… Continue reading Tesla ends ‘Spartan diet’ and seeks $2.3 billion to fund expansion

GM considers investing $1 billion in its Missouri plant, state officials say

FILE PHOTO: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio WASHINGTON (Reuters) – General Motors Co is considering a $1 billion investment at its Missouri assembly plant where it builds vans and trucks, state officials said on Thursday. Missouri Governor Mike Parson… Continue reading GM considers investing $1 billion in its Missouri plant, state officials say

Kia reveals upgraded Sportage with enhanced design and new powertrain technology

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Updated exterior design for Kia’s global best-selling vehicleModernized interior with new upholstery and driver instrumentsNew 1.6-liter ‘SmartStream’ diesel engine available in Korea and Europe2.0-liter diesel available with new eight-speed automatic transmissionKia’s first mild-hybrid powertrain available in Europe with all-wheel drive New powertrains sit alongside range of gasoline enginesGlobal sales of 2018 Kia Sportage commence during Q3 2018Kia Motors has revealed details of the upgraded 2018 Kia Sportage, the brand’s global best-selling vehicle. The new model boasts a refreshed exterior and interior design, as well as new safety and infotainment technologies. The mid-sized crossover utility vehicle (CUV) also offers buyers a range of new or upgraded powertrains that deliver high levels of efficiency. Ho Sung Song, Executive Vice President and Chief Operating Officer of Global Operations Division, Kia Motors Corporation, commented: “The..

Kia Motors posts global sales of 230,878 vehicles in July

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Kia Motors Corporation announced its July 2018 global sales figures for passenger cars, recreational vehicles (RVs) and commercial vehicles, recording a total of 230,878 units sold, an increase of 5.1% from 2017. This marks a year-on-year increase for five consecutive months. Overseas sales climbed 4.4% compared to the previous year, posting 183,878 units. Strong sales of RV models led the momentum, as Sportage saw sales rise more than 31 percent compared with the same month last year with 38,704 total units in markets other than Korea. Sales in Korea totaled 47,000 units, representing an increase of 7.8% year on year. The K900 passed the 1,000 unit mark for the fourth straight month, which is the first time the luxury sedan achieved the feat since the introduction of its first-generation model in 2012. Kia’s best-selling model in the global markets during July 2018 was the Sportage compact SUV with 41,949 units sold. The Rio subcompact sedan ..

Dana Incorporated Appoints Leader for Dana India

MAUMEE, Ohio, May 2, 2019 /PRNewswire/ — Dana Incorporated (NYSE: DAN), a leading provider of propulsion technologies in India for more than 50 years, today announced that Gajanan Gandhe is joining the company as country leader of Dana India, effective today.  In this role, Mr. Gandhe will work across Dana, including the company’s business units, functional… Continue reading Dana Incorporated Appoints Leader for Dana India

Dana Incorporated Announces Record First-quarter 2019 Financial Results

MAUMEE, Ohio, May 2, 2019 /PRNewswire/ — First-quarter Highlights Record first-quarter sales of $2.2 billion, an increase of $25 million compared with first-quarter 2018; represents 5 percent growth on a constant-currency basis Net income attributable to Dana of $98 million; diluted EPS of $0.68 Record adjusted EBITDA of $257 million, an increase of $9 million… Continue reading Dana Incorporated Announces Record First-quarter 2019 Financial Results

Hyundai Ioniq Electric Gets Boosted Range, Stronger Motor, New Look

Automaker’s original electric gets a boost in power and range to keep up with rivals. Hyundai has given its Ioniq Electric some attention – and arguably not a moment too soon. An updated Ioniq range of hybrid and plug-in hybrid models, along with the Electric, were announced Thursday in a bid to give it some… Continue reading Hyundai Ioniq Electric Gets Boosted Range, Stronger Motor, New Look