Category: News Site

Volkswagen says WLTP could cause burden of more than 1 bln eur.

FRANKFURT, Aug 1 (Reuters) – Resolving bottlenecks caused by tougher emissions rules could cost Volkswagen more than 1 billion euros, Chief Financial Officer Frank Witter said on Wednesday. The auto industry is struggling to adapt its vehicles to meet the new Worldwide Harmonized Light Duty Vehicles Test Procedure, known as WLTP, which takes effect from… Continue reading Volkswagen says WLTP could cause burden of more than 1 bln eur.

Elon Musk trolls billionaire betting against Tesla: ‘Will send Einhorn a box of short shorts’

Alberto E. Rodriguez | Getty Images Elon Musk, co-founder and chief executive officer of Tesla Inc. David Einhorn’s hedge fund Greenlight Capital said the firm’s bet against Tesla shares “was our second biggest loser” in the most recent quarter. The billionaire also said in the Greenlight letter he was “happy that his Model S lease… Continue reading Elon Musk trolls billionaire betting against Tesla: ‘Will
send Einhorn a box of short shorts’

VW CEO says anti-pollution rules may hit profits, car sales

FRANKFURT (Reuters) – Volkswagen Group’s (VOWG_p.DE) Chief Executive Herbert Diess warned that new anti-pollution tests pose a risk to the carmaker’s profit targets. VW has warned that production of up to 250,000 cars will be delayed as it struggles to adapt its vehicles to a new anti-pollution test, the Worldwide Harmonized Light Duty Vehicles Test… Continue reading VW CEO says anti-pollution rules may hit profits, car sales

UPDATE 1-Ferrari confirms guidance as new CEO takes the wheel

MILAN (Reuters) – Ferrari (RACE.MI) reported a 7 percent rise in second-quarter adjusted core earnings and confirmed its outlook for the year as a new boss takes charge at the Italian supercar maker following the death of Sergio Marchionne. FILE PHOTO: The Ferrari Insignia is seen at the back of a Ferrari Testarossa during a… Continue reading UPDATE 1-Ferrari confirms guidance as new CEO takes the wheel

Hypercar manufacturer Lister to move HQ to Hyndburn Rocket Centre

By Tim Aldred Posted on: 27th July, 2018 at 8:07 am Hypercar manufacturer Lister has announced major expansion plans which include new premises with a HQ in Hyndburn Rocket Centre. A ray of sunshine for the automotive sector shines on Lancashire. The iconic Rocket Centre, with over 25,000 square ft. of showroom space will be… Continue reading Hypercar manufacturer Lister to move HQ to Hyndburn Rocket Centre

Volkswagen mulls own production of battery cells in Europe

WOLFSBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) is eyeing producing its own solid state battery cells, with possible serial production from 2024 or 2025, its chief executive said on Wednesday. A Volkswagen logo is pictured during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt “We must not make ourselves dependent… Continue reading Volkswagen mulls own production of battery cells in Europe

Tesla plans to invest $5 billion building factory in China: Bloomberg

(Reuters) – Tesla Inc (TSLA.O) is planning to invest $5 billion to build a factory in China, Bloomberg reported on Wednesday, citing a source. FILE PHOTO: A Tesla logo adorns a ‘Model S’ car in the dealership in Berlin, Germany, November 18, 2015. REUTERS/Hannibal Hanschke/File Photo Tesla is considering raising funds in China to finance… Continue reading Tesla plans to invest $5 billion building factory in China: Bloomberg

Uber Kills Self-Driving Truck Division, Clearing the Road for Tesla

BYE, BYE AUTONOMOUS SEMI. Just under two years ago, Uber bought Otto, a startup focused on developing self-driving trucks. Now, Uber is bidding adieu to its plans for autonomous shipping, at least for the time being. On Monday, the company revealed in a statement that it’s closing its self-driving truck division. Uber’s self-driving trucks were seen on… Continue reading Uber Kills Self-Driving Truck Division, Clearing the Road for Tesla