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...Honda is falling further behind in the battery EV race after scrapping a $5bn plan to develop affordable battery-powered cars with General Motors last year....
...The transaction is expected to create “significant synergies across fuel retail” and other services, the companies said....
...In India, Tata Motors shares rose as much as 7.9 per cent in early trading after the group announced it would be split into two listed companies....
...This synergy estimate is likely to be conservative....
...But as it examined the technology used in the programme, “we’ve found areas where we’re going to have synergies between the work General Motors is doing and Cruise, that is going to allow us to be more efficient...
...However, it warned that many companies were “struggling to promptly provide the data we need” and said it would extend its review if it did not receive “comprehensive data promptly from a range of firms”...
...Where are the synergies between the two rivals? BHP has signalled that any deal could deliver “meaningful synergies” by sharing procurement and eliminating duplication at mine sites....
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...Hyundai Motors share price rose after announcing its fourth quarter results on Thursday, despite missing operating profit estimates....
...Car owners have been squeezed by a surge in insurance prices since their pandemic lows, as companies try to reflect a surge in claims costs....
...The UK’s top financial regulator has launched an investigation into historical commission agreements at motor finance companies after finding that companies were rejecting “most” of the “high number” of...
...But each of the company’s past two pay increases topped $2 an hour....
...However, carmakers are huge global companies with revenues often in the hundreds of billions of pounds....
...Any lenders funding motor finance should worry about how this problem could mushroom....
...The company has responded to the pessimism, recently announcing a new midterm plan to boost sales and launch 30 new models, half of which will be electrified or hybrid....
...The alliance also includes smaller partner Mitsubishi Motors....
...He praised Felisa’s contributions to the company, and said there would be an orderly handover between the two men....
...One customer requested wood from his own forest be used in the interior, while another put €400,000 worth of carbon fibre on to the vehicle, the company said....
...This was offset by a positive contribution from other business lines, such as home insurance and motor rescue....
...Many companies across multiple industries seek to become consolidators that create platforms to extract synergies, increasingly funded by private equity....
...Shares in Li Auto dropped 6.1 per cent after the company announced new price cuts across its line-up on Monday morning in an effort to boost slowing sales growth....
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