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...Improving margins in its motor business were materialising slower than expected and would remain challenging until the early part of 2024 due to high inflation, notably in labour costs, said Greenwood....
...BYD has slashed the cost of almost every model in its line-up since the start of the year under the slogan “electricity is cheaper than oil”, amid an escalating price war in the world’s largest EV market...
...Belfast’s Casement Park is in line to be a venue for Euro 2028, due to be held across the UK and Ireland....
...Direct Line’s shares were modestly higher by late-morning trading in London. Direct Line said Jon Greenwood, its acting chief executive, had chosen not to pursue the CEO role....
...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....
...The high-speed rail line had been expected to boost cross-border business as well as development of areas along the line....
...Replacing him is Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit....
...Utilities have long been dependable motors of Warren Buffett’s Berkshire Hathaway conglomerate, turning out steady profits at rates of return approved by regulators....
...Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit, will be replacing him. Instead of enjoying a boom, Hertz is in trouble again....
...Smaller companies play a big role in Japan’s electric vehicle battery supply chain, indirectly supporting the likes of Toyota Motor and Tesla....
...General Motors chief executive Mary Barra said this year that the company had ordered two “giga press” machines with the intention of using the technology for mass-market vehicles....
...The company’s acting chief executive Jon Greenwood said the earnings outlook “continues to be challenging” but stressed that Direct Line continued to “take the actions required to drive business performance...
...Progress on Rivian’s assembly lines, easing of clogged supply chains and the increased production of motors made in-house aided the outlook....
...Direct Line’s shares have plunged more than 40 per cent over the past year, compared with a 30 per cent drop for peer Admiral, which revealed last week that similar motor and weather effects had pushed it...
...As Zhang of Huanghe Science and Technology University says: “Technology is advancing fast . . . car production lines built four or five years ago don’t carry much utility value.”...
...The chief executive of Direct Line has stepped down, two weeks after the motor and home insurer issued its latest profit warning and scrapped its dividend....
...A blizzard blowing straight at the Tesla picket line did little to dull the spirit of strikers protesting this week against Elon Musk’s carmaker, in what is shaping up as a transatlantic clash of ideals....
...United Auto Workers, the 391,000 member union that represents workers at General Motors, Stellantis and Ford, elected a new president in March who has also pledged to be tougher on employers....
...The stock has jumped in the past two months as General Motors, Ford, Volvo and Amazon-backed Rivian signed deals to adopt the battery charging standard developed by Tesla, opening up a new line of revenue...
...Greenwood and Sammon favour the last two explanations, with most of the emphasis on the final one. Here is their tl;dr: Overall, the findings suggest an account along the following lines....
...The effects on Ford’s bottom line will be “relatively minor,” Jonas says. But he has his doubts about the legacy automakers’ competitive edge....
...“If you build it, they will come,” goes its famous line. The words were meant for mythical sports heroes flocking to a small field in Iowa....
...A version of this article was first published by Nikkei Asia on January 13 2023. ©2023 Nikkei Inc....
...The system assesses the dangers and the business lines involved....
...“You still have to cover the market for what people can afford,” General Motors chief executive Mary Barra told investors last month....
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