Tag: Geely

Polestar to cut 10% of workforce as delays push upcoming SUV to 2024

Polestar 3 Courtesy: Polestar Swedish electric vehicle maker Polestar on Thursday trimmed its full-year production guidance, saying that its upcoming Polestar 3 SUV will be delayed until 2024 because of software issues. The company also said it will cut about 10% of its workforce to reduce costs. Shares fell sharply following the news and ended… Continue reading Polestar to cut 10% of workforce as delays push upcoming SUV to 2024

Hyundai explains how it plans to become one of the world’s top three EV makers by 2030

A presenter stand next to Hyundai’s all-electric SUV ‘IONIQ 5’ during its launch at the Auto Expo 2023 on January 11, 2023 in Greater Noida, India. Ajay Aggarwal | Hindustan Times | Getty Images South Korean automaker Hyundai Motor Company is ramping up its production capabilities as it aims to become one of the world’s… Continue reading Hyundai explains how it plans to become one of the world’s top three EV makers by 2030

Eicher Motors FY23 PAT up 73.8% at INR 2,914 cr

For the quarter ended March 31, 2023, Eicher Motor’s Profit After Tax stood at INR 906 crore, an increase of 48.4% compared to INR 610 crore during the same period last year. New Delhi: For the Financial Year ended March 31, 2023, Eicher Motors recorded Profit After Tax at INR 2,914 crore, up by 73.8%… Continue reading Eicher Motors FY23 PAT up 73.8% at INR 2,914 cr

Volvo delays EX90 production to resolve software issues

Owners will be able to use their smartphone as a key for the car, with the firm’s app also designed to give access to an ‘ecosystem’ of services, including public charging stations and smart home charging management. The EX90 will support ‘Plug and Charge’, which, when launched, will automatically start charging the machine and sort… Continue reading Volvo delays EX90 production to resolve software issues

Goodyear (GT) Q1 Earnings Miss Estimates, Sales Rise Y/Y

Goodyear Tire GT delivered first-quarter 2023 adjusted loss per share of 29 cents wider than the Zacks Consensus Estimate of 22 cents and down from the earnings of 37 cents per share reported in year-ago quarter. Lower-than-anticipated sales in the Americas and Asia Pacific segments weighed on the results. The company generated net revenues of… Continue reading Goodyear (GT) Q1 Earnings Miss Estimates, Sales Rise Y/Y

Eicher Motors’ turnover scales US$ 4 billion in FY23, Company to invest Rs 1,000 crore in FY24

In a bid to cater to the growing demand for its Royal Enfield motorcycles and commercial vehicle business, Eicher Motors intends to invest over Rs 1,000 crore in FY24.  The company will invest Rs 1,000 crore for Royal Enfield’s expansion of its portfolio and diversification of its electric vehicle business. Separately, the company’s commercial vehicle… Continue reading Eicher Motors’ turnover scales US$ 4 billion in FY23, Company to invest Rs 1,000 crore in FY24

Goodyear (GT) Q1 Earnings Miss Estimates, Sales Rise Y/Y

Goodyear Tire GT delivered first-quarter 2023 adjusted loss per share of 29 cents wider than the Zacks Consensus Estimate of 22 cents and down from the earnings of 37 cents per share reported in year-ago quarter. Lower-than-anticipated sales in the Americas and Asia Pacific segments weighed on the results. The company generated net revenues of… Continue reading Goodyear (GT) Q1 Earnings Miss Estimates, Sales Rise Y/Y

Volvo may have gone too hard on software because now the EX90 is getting delayed

/ The all-electric SUV was expected to hit showrooms in early 2024, but now it won’t start production until the first half of the year. The reason? Software, of course. Image: Volvo Volvo announced that it was delaying production for its next-generation flagship electric SUV, the 2024 EX90, citing a need for further “software testing… Continue reading Volvo may have gone too hard on software because now the EX90 is getting delayed