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...Another heavily-traded company that until recently was a penny stock is Mullen Automotive....
...The people with knowledge of Tesla’s plans said it would send a team from the US by late April to study sites for the plant, focusing on states with existing automotive hubs, including Maharashtra and Gujarat...
...This story was corrected to reflect that Group 1 Automotive has 55 sites in the UK, not 51 as indicated in a previous version....
...Look at the company’s spending decisions and it seems as if everything is targeted towards addressing the 13 per cent drop in automotive revenues....
Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
...Excluding the effects of regulatory credits, the gross margin from its automotive unit — a closely watched measure of its core operations — fell to 16.4 per cent for the quarter, down from 19 per cent a...
...In the last quarter, US chip designer Nvidia revealed that revenue from its automotive business fell 4 per cent year over year. In some regards, Apple had the right idea....
...Ansys, which has headquarters in Pennsylvania and has its origins in structural analysis tools, makes engineering simulation software used in industries from automotive and construction to healthcare and...
...The fastest-growing sectors include life sciences, automotive, and media and entertainment, she reports....
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...Daniel Kollar, an automotive expert at consultancy Intralink, said Tesla’s China performance had remained strong but the company faced challenges from local competition, a renaissance of hybrid cars and...
...Arc furnaces produce steel by melting down scrap, which the UK currently exports. However, the quality of steel produced is not suitable for some applications, such as automotive....
...gave Christie campaign $2mn after backing Trump (FT) US regional banks hope for profit revival as pain from SVB fallout eases (FT) Betting group Flutter proposes moving listing from UK to New York (FT) Arc...
...The industry-leading gross profit margin on Tesla’s automotive operations briefly topped 30 per cent in 2021....
...The acquisition by Berkshire, whose related interests include car insurer Geico and dealership Berkshire Hathaway Automotive, was regarded as a vote of confidence in the US economy and more particularly...
...raises record $6.4bn for Asia fund in infrastructure rush (FT) Volvo Cars to stop funding Polestar electric sports car business (FT) Vivendi’s Canal+ offers to buy biggest pay-TV group in Africa (FT) Arc...
...Pendragon, one of the UK’s largest automotive retailers, is to sell all of its car dealerships for £280mn and focus on software, ending a tumultuous period in which the company’s attempts to sell itself...
...“If steel production were to disappear from here, [Germany] would not only lose steel, but also the automotive industry and the supplier industry,” he said, expressing a widespread fear of creeping deindustrialisation...
...Excluding the effects of regulatory credits, the gross margin from Tesla’s automotive unit — a closely watched measure of its core operations — increased to 17.2 per cent for the quarter, slightly ahead...
...By contrast, many other businesses inside Icahn’s empire, which span automotive services, real estate and even sausage packaging, have struggled to generate meaningful earnings....
Also in today’s newsletter, extreme weather spells trouble for Asian textile producers
...A record 313,000 electric vehicles were sold in the US in the third quarter, according to data group Cox Automotive....
...“The company is facing tougher competition in the US and Europe as more automakers opt for cheaper LFP [lithium iron phosphate] batteries,” said Lee from the automotive institute....
...Highlights Amer Sports, the parent company of tennis racket maker Wilson, hiking and skiing equipment company Salomon, and high-end outdoor gear brand Arc’teryx, has filed to list on the New York Stock...
...But in the US, companies such as Nucor use scrap supplemented by pure iron to produce just about everything, including high-quality products destined for the automotive industry....
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