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...The U-turns included pushing back a ban on the sale of new petrol and diesel cars from 2030 to 2035 and diluting the phaseout of fossil fuel boilers....
...Slowing growth of electric vehicle sales has caused a series of corporate U-turns. While sharp swerves are never fun, the change in direction is sensible....
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...Tuesday’s share price drop extended the plunge in the Austin-based carmaker’s stock this year to 33 per cent, making it one of the worst performers in the S&P 500 with a trajectory that continues to diverge...
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...The benchmark S&P 500 rose 0.3 per cent and the tech-heavy Nasdaq Composite added 0.7 per cent shortly after the opening bell in New York....
...That gives Beijing a near-monopoly on permanent magnets used in electric vehicles, wind turbines and fighter jets....
...Voters across the bloc are turning right in protest at falling living standards, rising immigration and the costs of going green, such as for new boilers and electric cars....
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...Together with the rapidly increasing investments going into battery manufacturing, this makes a U-turn away from them improbable and impractical....
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