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German carmaker looks to droids as it struggles to recruit reliable workers
...BYD submitted a proposal to build a plant in India last year in partnership with an Indian company, Megha Engineering....
...The company has sold only 300,000 vehicles in its history — the same number produced by Volkswagen’s Porsche brand every year....
...The two companies agreed that Hertz “keep the cars longer than a year, we work with them, and we have the right to first refusal whenever they want to take them out of the fleet”, he said....
...Lucid is also planning a smaller, more affordable vehicle from 2026 that will be produced first at a factory in Saudi Arabia that the company is building....
...The votes will take place at the company’s annual meeting on June 13....
...One client, from a US tech company, studied aerodynamics and opted to draw his own vehicle, which Ferrari made....
...The first van that the company made using the factory later turned out to have been largely hand built. The document also shows the spread of debts, both inside and outside the company....
...Both companies are globe-spanning....
...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....
...peter.campbell@ft.com...
...But the Japanese company’s hybrid models have been a massive success, so it seems like Toyota was right. Well, at least for now. Peter Campbell is the FT’s global motor industry correspondent....
...“I still love the company....
...The Italian company is valued at £75bn, with an earnings multiple of a luxury business such as LVMH....
...Shares were down almost 5 per cent by Thursday afternoon to 85.5p after the company said that it expected flat revenues this coming year, due to weaker orders....
...The company posted sales of 386,810 cars in the first quarter, down from 484,507 in the fourth quarter of 2023 and lower than the 422,875 it delivered a year earlier....
...Li Yunfei, general manager of branding and public relations at BYD, said in a recent social media post that the company was starting “a grand showdown with gas cars”....
...The company said it received a letter from the Securities and Exchanges Commission informing it that it “will suspend trading in the Company’s securities at the open of business on January 30, 2024”....
...The companies — the world’s top two sellers of EVs — have cut prices in order to stimulate demand as they face increased competition, especially in China....
...But to manufacture models in Europe for this price, the companies must look to cut costs further....
...However, carmakers are huge global companies with revenues often in the hundreds of billions of pounds....
...Chinese companies will build factories in Europe and when that happens our car industry needs to be ready.”...
...But each of the company’s past two pay increases topped $2 an hour....
...A spokesperson for Dyson said the company did not comment on private meetings....
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