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...Peter Rawlinson said the company, which is 60 per cent owned by Saudi Arabia’s Public Investment Fund, was “looking at every aspect of cost” as it battles to reduce spending and raise output of its luxury...
...The group is also building a plant in Mexico that is expected to come online in 2026....
...GM’s quarterly investments in Cruise run to about $700mn. Its driverless vehicles have been operating in certain US cities including San Francisco as a taxi service....
...The slowdown has seen carmakers delaying investment plans, and Renault canning a stock market listing of its EV unit, partly citing weak demand....
...Life insurers, particularly those linked to private equity groups, have pushed deeper into asset-backed securities in pursuit of investments that are a good match for their long-term liabilities but offer...
...Decisions on possible new UK investments were not “imminent” though, he said....
...You make money, you can make good investments in equity, bonds, real estate, but your lifespan is limited, so you also have fun.”...
...He added: “We see the big three [Ford, GM, Stellantis] backing off on big EV investments and going into hybrids.”...
...The group experienced “slight delays to the initial production ramp up of DB12”, its latest luxury touring car, which it blamed on a supplier....
...Most of it is expected to flow through to the ship’s reinsurers, a large group including Axa XL, a division of the French insurer. Axa said any impact would be “non-material” at group level....
...The UK operations of struggling electric van group Arrival have gone into administration, putting more than 170 jobs at risk....
...Stellantis secured about £30mn of UK state support in 2021 as part of a £100mn investment to transform Ellesmere Port to EV production....
...Tesla rival Nio has secured a $2.2bn investment from Abu Dhabi-backed CYVN Holdings in a boost for the Chinese electric vehicle maker as Middle East groups and Beijing increasingly join forces in the clean...
...This is particularly crucial as the business faces steep investment demands into electric cars, self-driving systems and software in the coming years....
...“We offered ownership to this incredible investment group knowing the enormous value they bring to FMX, which will benefit all market participants,” said Lutnick....
...BYD has not disclosed investment figures yet because it is still in negotiations with the EU over financial support for the project, he said....
...Politicians said that unionising could dissuade the carmakers from expanding and make it harder to court other investments....
...The company will launch an electric Range Rover this year, part of a £15bn investment into electric vehicles in the coming years....
...“We need to be listened to by politicians, we are the people who are putting the money in and risking the investments.”...
...US private equity group Apollo Global is in discussions with Sony Pictures Entertainment about making a joint takeover bid for Paramount Global that would rival ongoing talks between controlling shareholder...
...Yet, much like EVs, autonomous vehicles have suffered a reality check following years of investment and hype....
...Its battery supplier, Chinese group Envision, is expected to contribute the rest of the investment. Envision owns AESC, which supplies Nissan and already runs one large battery plant in Sunderland....
...Half of Tuesday’s press release was dedicated to the phalanx of lawyers and investment bankers needed to untangle this web. Endeavor never really caught the fancy of the large mutual funds....
...It concluded that Apollo’s limited partnership agreements, with pensions and sovereign wealth groups, stated that such travel and dining expenses should be borne by Apollo, not the funds and its investors...
...He said a final decision on a UK factory would be taken in the “near future”, though he stressed that the group had yet to consider specific locations....
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