Zeekr, one of Chinese automaker Geely’s upmarket electric car brands, has confidentially filed for a U.S. initial public offering, aiming to raise more than $1 billion, three sources with direct knowledge of the matter told Reuters. In what would be the first major Chinese float in the United States in more than a year and… Continue reading Geely electric car brand Zeekr a seeks over $1b in US IPO
Tag: Tesla
Elon Musk Heads to Court to Defend His Billions in Tesla Pay
Tesla has made Elon Musk a billionaire many times over by paying him generously in shares for his work as chief executive of the electric carmaker. On Wednesday, Mr. Musk is expected in court to defend that compensation, much of which derives from a record-setting pay deal he struck in 2018 with Tesla’s board of… Continue reading Elon Musk Heads to Court to Defend His Billions in Tesla Pay
Toyota seeks suppliers to support new strategy to better compete with EV leaders
After seeing the success and demand automakers like Tesla and BYD are having with electric vehicles, Toyota is reportedly looking to grab its share. Toyota is set to make significant adjustments to its EV strategy in its upcoming meeting with suppliers next year. Anyone following the auto industry’s transition to electric vehicles by now knows… Continue reading Toyota seeks suppliers to support new strategy to better compete with EV leaders
Biden gives GM and LG a $2.5B loan to build 3 battery factories in 3 states
The Biden administration today announced that it’s closed a $2.5 billion loan for Ultium Cells, a joint venture between GM and South Korean battery maker LG Energy Solution. The loan will go toward financing the construction of new lithium-ion battery cell factories in Ohio, Tennessee, and Michigan. Ultium Cells will manage battery cell production at… Continue reading Biden gives GM and LG a $2.5B loan to build 3 battery factories in 3 states
Tesla is ordered to upgrade self-driving computer for free over ‘false advertising’
A judge has ordered Tesla to upgrade a customer’s self-driving computer for free in order to subscribe to Tesla’s Full Self-Driving program. It’s a victory for customers frustrated with Tesla’s approach to selling self-driving to customers before achieving the capacity. Since 2016, Tesla has claimed that all its vehicles produced going forward have “all the… Continue reading Tesla is ordered to upgrade self-driving computer for free over ‘false advertising’
Tesla is becoming a partisan brand, says survey
Tesla is becoming a partisan brand – losing the support of Democrats and gaining support from Republicans, according to a survey. Leaders of large companies selling consumer products, like automakers and tech companies, generally refrain from showing direct support to any political party, especially in the US. Due to the polarizing nature of politics in… Continue reading Tesla is becoming a partisan brand, says survey
Tesla to create ‘statewide market design pilot’ virtual power plant in Texas
Tesla has been approved to create a “statewide market design pilot” for a virtual power plant (VPP) in Texas. The company will be able to band its Powerwall customers together to deliver grid services in the state and get them compensated for it. Tesla virtual power plant We have seen Tesla putting a lot of… Continue reading Tesla to create ‘statewide market design pilot’ virtual power plant in Texas
Elon Musk is no longer the richest person in the world
SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, June 13, 2019. Mike Blake | Reuters Tesla CEO Elon Musk is no longer the richest person in the world. He ceded that title to LVMH chairman… Continue reading Elon Musk is no longer the richest person in the world
Detroit Three trail competitors on emissions, fuel economy, EPA reports
Washington — The Detroit Three automakers again produced vehicles with the most emissions and the lowest fuel economy of any major manufacturers in model year 2021, according to new data from the U.S. Environmental Protection Agency. Stellantis NV came in last in a field of 14 automakers for both measures, General Motors Co. was second-to-last… Continue reading Detroit Three trail competitors on emissions, fuel economy, EPA reports
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WASHINGTON, Dec 12 (Reuters) – The U.S. new vehicle automotive fleet’s fuel efficiency was flat in the 2021 model year as automakers sold more sport utility vehicles and pickup trucks compared to cars, while the Detroit Three lagged behind foreign competitors. The U.S. Environmental Protection Agency said Monday the fleetwide real-world average was 25.4 miles… Continue reading Untitled