automotive-industry
TechnologyXiaomi Chief Touts Nurburgring Record Ahead of Ev Launch
FinanceItaly to Cut Automotive Industry Support by Around $5 Billion
BusinessWolfspeed Shelves Plans to Build Chip Factory in Germany
BusinessForvia Clinches New Supply Deals With China’s Byd and Xiaomi, Shares Jump
French Bank Credit Agricole to Buy 50% of GAC’s Leasing Unit
Date: October 16, 2024
By Mathieu Rosemain and Sudip Kar-Gupta PARIS (Reuters) -Credit Agricole is planning to buy a 50% stake in the leasing unit of Chinese carmaker Guangzhou Automobile Group (GAC) as part of a broader deal that makes the French bank a partner of GAC to finance its car sales in Europe. Credit Agricole’s Personal Finance...
Tesla’s Sporty, Two-Seater Robotaxi Design Puzzles Experts
Date: October 15, 2024
By Abhirup Roy and Chris Kirkham SAN FRANCISCO (Reuters) -Tesla’s reveal of a robotaxi designed as a low-slung, two-seater, sporty coupe – quite the opposite of a typical taxi with room for several passengers and luggage – flummoxed investors and analysts. CEO Elon Musk served up the cool design for the prototype of the...
Varta Seals Auto Battery Investment From Porsche
Date: October 9, 2024
GDANSK (Reuters) – Struggling German battery maker Varta said luxury car maker Porsche AG would invest in its business unit for large-format lithium-ion cells through a majority stake in its automotive battery unit V4Drive. In order to implement the investment, a capital increase will be carried out at V4Drive Battery GmbH,” Varta said. The...
Exclusive-Germany to Vote Against EU Tariffs on Chinese Electric Vehicles, Sources Say
Date: October 4, 2024
By Andreas Rinke FRANKFURT (Reuters) -Germany on Friday will vote against the introduction of European Union tariffs on Chinese electric vehicles, people with knowledge of the matter told Reuters on Thursday. Germany abstained in a first non-binding vote in July on the European Commission’s proposal to impose the tariffs, but since then industry has...
Analysis-Investors Shun European Car Stocks Despite Rock Bottom Valuations
Date: September 20, 2024
By Sruthi Shankar and Danilo Masoni (Reuters) – European auto stocks are so unpopular right now that investors keep reducing their exposure even as the scale of the industry’s problems has driven valuations close to record lows, which would normally be a big incentive for would-be buyers. The STOXX 600 Autos and Parts index...
Germany Considering Ways to Support Vw, Economy Minister Says
Date: September 20, 2024
FRANKFURT/BERLIN (Reuters) -Germany’s government is considering ways to support Volkswagen, German economy minister and vice chancellor Robert Habeck said on Thursday, when asked about the threat of job cuts at the country’s largest carmaker. Volkswagen said this month it needed to cut costs significantly at its namesake brand in Germany, citing high costs, low...