General Motors said on Tuesday that its profit in the final three months of 2023 was depressed by the cost of a 40-day strike at some of its U.S. plants and an accounting charge related to electric vehicles. The automaker, which has been banking on a rapid rise in sales of battery-powered models, earned $2.1… Continue reading G.M. Profits Hurt by Electric Car Business and Strike
Category: US Motoring Press
Toyota investing $1.3 billion in Kentucky to build all-electric, three-row SUV
Akio Toyoda, Chairman of Toyota Motor Corporation. Yoshikazu Tsuno | Gamma-rapho | Getty Images Toyota Motor is investing $1.3 billion in a Kentucky plant to produce a new all-electric, three-row SUV for the U.S. market, the company said Tuesday. The vehicle is expected to go into production between late 2025 and early 2026, according to… Continue reading Toyota investing $1.3 billion in Kentucky to build all-electric, three-row SUV
Ford tops fourth-quarter estimates, guides toward strong 2024
Ford CEO Jim Farley poses for a photo before announcing at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. Bill Pugliano | Getty Images… Continue reading Ford tops fourth-quarter estimates, guides toward strong 2024
PSM-backed EESL’s 3825 e-buses tender sees participation from OEMs
Amid the government’s push to boost electric bus adoption through a payment security mechanism (PSM), Energy Efficiency Services Limited’s (EESL) latest tender for the first tranche of 3,825 e-buses of the 10,000 electric buses under the government’s most ambitious PM E Sewa scheme has seen active participation from original equipment makers. Major firms that have participated in… Continue reading PSM-backed EESL’s 3825 e-buses tender sees participation from OEMs
Facelifted Skoda Octavia to be revealed on 14 February
The Skoda Octavia hatchback and estate are primed to be facelifted later this month, following updates to the Kodiaq and Superb, with a debut date set for 14 February. Now the new design has been previewed by a series of sketches that reveal sleeker styling for both variants. Skoda has also confirmed that the Sportline and range-topping vRS variants will continue. The biggest… Continue reading Facelifted Skoda Octavia to be revealed on 14 February
French start-up to race striking hybrid at Pikes Peak
French start-up Quarkus, established in November 2020, has announced it will enter a modified version of its P3 sports car in this year’s Pikes Peak International Hill Climb. The P3 is a mid-engined two-seater claimed by its maker to have been developed entirely in-house. It’s underpinned by a carbonfibre chassis and is powered by a mild-hybrid… Continue reading French start-up to race striking hybrid at Pikes Peak
SKF appoints Manish Bhatnagar as President of Industrial Region Americas
SKF has announced immediate changes in Group Management to accelerate strategic transformation and drive profitable growth. Manish Bhatnagar, the current President of Industrial Region India and Southeast Asia (ISEA), has been appointed as the new President of Industrial Region Americas, effective immediately. He will continue to serve as the Managing Director of SKF India Limited… Continue reading SKF appoints Manish Bhatnagar as President of Industrial Region Americas
SIAM Hosts third edition of Global Electrification Mobility Summit (GEMS) at Bharat Mobility Global Expo 2024
The Society of Indian Automobile Manufacturers (SIAM) convened the 3rd Global Electrification Mobility Summit (GEMS) during the Bharat Mobility Global Expo 2024 at Pragati Maidan. Themed ‘Vidhutikaran’ (Electrification): Electrifying India’s Journey towards Sustainable Mobility,” the summit aimed to foster collaboration among stakeholders to advance electrification initiatives, aligning with SIAM’s objective of Building the Nation Responsibly.… Continue reading SIAM Hosts third edition of Global Electrification Mobility Summit (GEMS) at Bharat Mobility Global Expo 2024
Following Rs 1,200 crore pledge, Ashok Leyland invests Rs 662 crore into EV arm
Chennai-based Ashok Leyland, which had previously approved an equity infusion of Rs 1,200 crore into its electric vehicle arm Optare in November last year, made a significant investment of Rs 662 crore during the quarter ending December 2023 (Q3 FY24). According to the company’s management, the remaining amount will be infused into one or more… Continue reading Following Rs 1,200 crore pledge, Ashok Leyland invests Rs 662 crore into EV arm
Vedanta chairman Anil Agarwal outlines USD 4 billion investment plan to double oil production: PTI
Mining conglomerate Vedanta Ltd will invest USD 4 billion over the next three years to double oil production, its chairman Anil Agarwal said on Tuesday as he pushed ahead with an aggressive oil and gas expansion programme, PTI reported. Vedanta is targeting 300,000 barrels per day (15 million tonnes a year) oil output in 3… Continue reading Vedanta chairman Anil Agarwal outlines USD 4 billion investment plan to double oil production: PTI