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Tesla Inc
Tesla scouts sites for $3bn India car plant in boost for Modi
...Indian steelmaker JSW last month launched a $1.5bn tie-up with China’s SAIC Motor to build and sell EVs in India....
April 3, 2024
Clayton Dubilier & Rice Inc
US buyout firm CD&R hires former Tesco chief Dave Lewis
...Under its ownership, Morrisons’ sales have lagged behind many UK competitors. Lewis said he did not have “any formal involvement” with Morrisons or MFG....
January 15, 2024
FT Live
Future of the Car
The technology and new business models shaping the next decade in automotive
Tuesday, 7 MaySancroft, Paternoster Square, London EC4M 7DQ, UK
Tesla Inc
Tesla to cut 10% of global workforce
...Drew Baglino, senior vice-president leading Tesla’s engineering and technology development for batteries, motors and energy products, announced on X today that he would leave after 18 years at the auto group...
April 15, 2024
Inchcape PLC
Inchcape to sell UK dealerships for £346mn
...The transaction is also the latest in a series of takeovers in the UK motor retail sector where consolidation has meant only Vertu and Caffyns remain....
April 15, 2024
Inside BusinessJune Yoon
BYD’s $230,000 electric sports car signals plan to take on VW and Toyota
...Total hybrid sales of about 1.2mn cars matched EV sales figures. For Toyota, hybrid sales increased 47 per cent year on year in the December quarter, far outpacing total group sales growth of a tenth....
March 5, 2024
Tesla Inc
Tesla and BYD sales fall as concerns mount over electric shift
...Sales growth of electric cars has slowed in the past year, with carmakers increasingly forced to discount models in order to generate sufficient consumer demand, while companies from General Motors and Ford...
April 2, 2024
FT Live
TNW Conference 2024 - The Next Web
Europe’s leading tech event for corporates, startups, investors and governments
Thursday, 20 JuneAmsterdam, Netherlands
Unhedged
Where Tesla departs from the Mag 7 Premium content
...Yet sales, the same data set predicts, will lag even further behind. EV interest last year resulted in sales of 9.5mn vehicles, but the figure is only expected to be 9.8mn this year....
April 3, 2024
Berkshire Hathaway Inc
Warren Buffett’s Berkshire Hathaway pares its stake in Apple
...That was down from 49 12 months earlier, as it exited stakes in companies including General Motors, UPS and Procter & Gamble earlier in the year....
February 14, 2024
LexApple Inc
Apple is not the only company backing away from driverless cars Premium content
...Cruise, the self-driving car subsidiary of General Motors, targeted annual revenues of $1bn by 2025. Last year, the business reported sales of just $102mn amid a $3.4bn loss....
March 7, 2024
Apple Inc
Apple cancels secretive electric car project in shift to focus on AI
...In January, Tesla warned that flagging demand, high interest rates and intensifying competition would lead to slower sales growth rates this year....
February 27, 2024
News in-depthApple Inc
China’s love affair with Apple and Tesla hits rocky patch
...Shanghai’s state-owned carmaker SAIC Motor, for example, had its 15 per cent tax rate for being a “high-tech enterprise” renewed four times since 2008....
March 10, 2024
Electric vehicles
‘The early adopters have adopted’: US carmakers slow their EV growth plans
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
October 28, 2023
Rivian Automotive, Inc.
Electric-truck maker Rivian projects no production growth in 2024
...Sales grew by 55 per cent between January 2022 and January 2023....
February 21, 2024
Tesla Inc
Tesla shares drop 12% after sales growth warning
...A number of EV makers have recently scaled back expansion plans, including Ford and General Motors, while rental group Hertz is selling one-third of its electric fleet to buy more petrol vehicles....
January 25, 2024
News in-depthApple Inc
Apple parks its electric car project in sign of EV industry’s struggles
...Then, last week, fellow start-ups Rivian and Lucid Motors also announced lacklustre results, sending their shares tumbling....
February 28, 2024
FT Live
Building an AI-First Organisation
How can business leaders use AI to drive value?
Thursday, 25 AprilHôtel Lutetia, Paris, France
Berkshire Hathaway Inc
Warren Buffett’s Berkshire Hathaway cashes in on blue-chip US stocks
...The company disclosed it had sold off its remaining position in carmaker General Motors during the three months to the end of September, an investment that was worth roughly $850mn in the previous quarter...
November 15, 2023
The Week Ahead
A run of elections while the WTO gathers in Abu Dhabi
...Also, Keir Starmer: The Biography by Tom Baldwin is published by William Collins....
February 25, 2024
Mergers & Acquisitions
CD&R’s Morrisons sells petrol forecourts to sister company MFG for £2.5bn
...The deal comes as Morrisons seeks to improve its sales performance under new chief executive Rami Baitiéh and service its £5.5bn net debt pile following sale-and-leaseback deals on some of its properties...
January 30, 2024
Electric vehicles
Sales of electric vehicles in the US are accelerating
...Tesla, General Motors and Rivian all reported strong US sales and deliveries for EVs during the second quarter, as did BYD in China....
July 8, 2023
Commercial property
‘Skyscraper queen’ leaves CBRE as New York property crisis deepens
...Signs of distress and dislocation abound in the New York City office market, the world’s largest, where Stacom bagged many of her biggest deals, including the $2.8bn sale of the General Motors Building in...
February 5, 2024
#techAsia
Asians woo Tesla, Taiwan’s Kinsus mulls Malaysia substrate play Premium content
...An independent panel revealed that Daihatsu Motor, a subsidiary of Toyota Motor, had been cheating on safety and quality tests for over 30 years, delivering a blow to the auto group’s reputation — the most...
January 18, 2024
Due Diligence
How buying Teslas hurt Hertz Premium content
...Saying goodbye to ice cream means hiving off a division that accounts for about 16 per cent of Unilever’s overall sales....
March 20, 2024
FirstFT
FirstFT: Apple abandons secretive electric vehicle project
...The cancellation comes as the sale of electric vehicles has slowed in Europe and the US in recent months....
February 28, 2024
Pendragon PLC
Pendragon to sell UK car dealerships to US group Lithia in £280mn deal
...“The strategic partnership with Pinewood Technologies and acquisition of Pendragon’s UK motor and vehicle management divisions is a massive step in delivering on our longer term growth strategy,” said Lithia...
September 18, 2023
European prime property
Will a US-style upgrade draw homebuyers to Crans-Montana?
...“Vail Resorts have done good things quickly,” says Russell Collins, Andermatt’s head of sales, including chairlift upgrades, improved snow-making and expanding the Epic Pass ski area to the village of Disentis...
December 12, 2023

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