Today: September 12, 2024
Today: September 12, 2024

Electric Vehicles

Business|Technology

Rivian to face trial in Tesla trade secrets theft case, judge says

Electric car maker Rivian Automotive will go on trial over allegations that it encouraged its employees who defected from Elon Musk's Tesla to steal trade secrets, according to a tentative

Rivian to face trial in Tesla trade secrets theft case, judge says
Asia|Business|Europe|Technology

LGES in talks with Chinese material firms to make low-cost EV batteries for Europe

South Korea's LG Energy Solution (LGES) is in talks with about three Chinese suppliers to produce low-cost electric vehicle batteries for Europe, a senior executive

LGES in talks with Chinese material firms to make low-cost EV batteries for Europe
Business|Economy|Europe

Renault sticks to 2024 outlook as first-half profit beats estimates

Renault posted a better-than-expected operating profit for the first half of the year on Wednesday due to strong pricing and new vehicle launches,

Renault sticks to 2024 outlook as first-half profit beats estimates
Business|Economy|Technology

Ford profit disappoints, stock falls 11% as quality issues dog automaker

Ford Motor reported a dip in second-quarter adjusted profit on Wednesday as the automaker continues to battle costly quality issues and an EV business that is

Ford profit disappoints, stock falls 11% as quality issues dog automaker
Asia|Business|Economy

Japan's Honda to close China plant, halt production at another factory

Japan's Honda Motor will close a factory in China and halt vehicle production at another plant, the automaker said on Thursday, as it seeks to start producing more electric vehicles amid

Japan's Honda to close China plant, halt production at another factory
Asia|Business|Technology

LGES cuts sales target on weak EV demand, flags US election risk

South Korean battery maker LG Energy Solution (LGES) said on Thursday its revenue would plunge more than 20% this year and that it would ease capacity

LGES cuts sales target on weak EV demand, flags US election risk
Asia|Business|Economy

Hyundai Motor posts record Q2 profit on strong US sales, to boost hybrid lineups

Hyundai Motor reported record quarterly profit and revenue on Thursday on strong sales of high-margin cars and said it would expand hybrid lineups to

Hyundai Motor posts record Q2 profit on strong US sales, to boost hybrid lineups
Business|Economy|Finance|Stock Markets

Ford slips as higher costs, EV unit take a toll on profit growth

Ford Motor's shares tumbled over 13% to a near six-month low on Thursday after the automaker missed second-quarter profit estimates, as it struggles with quality-related

Ford slips as higher costs, EV unit take a toll on profit growth
Business|Economy|Finance

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes

Nissan has lowered its full fiscal year outlook after the Japanese automaker reported a 73% decline in profit in the April-June quarter compared to the previous year

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes
Business|Finance|Technology

GM co-leads $39 million funding for EV battery materials startup Addionics

Israeli battery technology company Addionics has raised $39 million from investors including General Motors' venture capital arm to help commercialise its copper and

GM co-leads $39 million funding for EV battery materials startup Addionics
Asia|Business|Technology

SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say

India's IPO-bound Ola Electric has suspended its electric car launch plans as the Softbank-backed company wants to focus on its e-scooter business,

SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say
Business|Economy|Finance

Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays

Investors are punishing automakers’ stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices

Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays
Business|Economy|Environment|Technology

Rio Tinto, BYD and LG Energy show interest in Chile's Altoandinos lithium site

Twelve companies including global miner Rio Tinto and Chinese electric vehicle maker BYD have submitted proposals to extract lithium in Chile's Altoandinos salt flats, the state

Rio Tinto, BYD and LG Energy show interest in Chile's Altoandinos lithium site
Asia|Business|Economy

Chinese firms seek to cut stakes in new Indonesian nickel smelters

Chinese companies are in talks with potential investors to reduce their stakes in Indonesian nickel smelters amid efforts to make their products eligible for

Chinese firms seek to cut stakes in new Indonesian nickel smelters
Asia|Business|Technology

Toyota to build EV battery plant for Lexus cars, Nikkei reports

Japan's Toyota Motor plans to build a battery plant for electric vehicles in the southwestern prefecture of Fukuoka and supply its batteries to a factory that makes luxury Lexus brand

Toyota to build EV battery plant for Lexus cars, Nikkei reports
Asia|Business|Economy

Thailand to offer investment incentives for makers of hybrid vehicles

Regional auto making hub Thailand will introduce investment incentives for manufacturers of hybrid vehicles, its Board of Investment (BOI) said on Friday, with excise taxes for

Thailand to offer investment incentives for makers of hybrid vehicles
Asia|Business

Nissan cuts output at top Japanese plant, sources say

Nissan cut planned production by a third at its top Japanese plant this month, a move that will also see it slash output of a flagship crossover model

Nissan cuts output at top Japanese plant, sources say
Asia|Business|Finance|Stock Markets

Chinese EV battery maker CATL posts faster profit growth in Q2

Chinese electric vehicle battery giant CATL recorded faster profit growth in the second quarter, even as EV demand slows in the world's largest auto market while geopolitical

Chinese EV battery maker CATL posts faster profit growth in Q2
Business|Economy|Technology

Turkey's Erdogan announces $30 billion in incentives for high tech areas

Turkey will launch a $5 billion package to boost its annual production of electric vehicles to one million cars, President Tayyip Erdogan said on Friday, adding that Ankara would

Turkey's Erdogan announces $30 billion in incentives for high tech areas
News|Political|Technology|World

China says EU probe into Chinese electric vehicle exports, subsidies is protectionist

China's Commerce Ministry has protested a decision by the European Union to investigate exports of Chinese electric vehicles, saying it is a protectionist action aimed at distorting the supply chain

China says EU probe into Chinese electric vehicle exports, subsidies is protectionist
News|Political

Biden sending aides to Detroit to address autoworkers strike, says 'record profits' should be shared

President Joe Biden says he’s dispatching two of his top aides to Detroit to help resolve the strike by unionized autoworkers

Biden sending aides to Detroit to address autoworkers strike, says 'record profits' should be shared
Business|Economy|Technology

Electrify America charging network must navigate patchwork of utility rates, government regulations

If Jigar Shah doesn’t do his job correctly, the company with the second-highest number of fast-charging electric vehicle plugs could lose money or EV owners could have to pay more to fill up

Electrify America charging network must navigate patchwork of utility rates, government regulations
Environment

EV sales growth points to oil demand peaking by 2030 − so why is the oil industry doubling down on production?

The International Energy Agency moved up the date when it expects oil demand to peak to before 2030. Electric vehicle growth is a big part of the reason.

EV sales growth points to oil demand peaking by 2030 − so why is the oil industry doubling down on production?
Business|News

The UAW strike is growing, again. What to know as 7,000 more auto workers join the union’s walkouts

The United Auto Workers strike against Detroit automakers has spread to dozens of facilites nationwide

The UAW strike is growing, again. What to know as 7,000 more auto workers join the union’s walkouts
Business|News|Technology

More money pledged from Michigan for a $3.5 billion electric vehicle battery plant after Ford pauses

More money is being pledged in Michigan for the development of a $3.5 billion electric vehicle battery plant after Ford said it would pause construction until it’s sure it can run the factory competitively

More money pledged from Michigan for a $3.5 billion electric vehicle battery plant after Ford pauses

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