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...The group is also building a plant in Mexico that is expected to come online in 2026....
...In 2021, the group bought Morrisons in a £10bn deal. It also owns assets including petrol station operator Motor Fuel Group and part of car windscreen repair company Belron....
...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....
...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...
...For Toyota, hybrid sales increased 47 per cent year on year in the December quarter, far outpacing total group sales growth of a tenth. In Asia, the trend is even more pronounced....
...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....
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...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....
...Replacing him is Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit....
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...Then, last week, fellow start-ups Rivian and Lucid Motors also announced lacklustre results, sending their shares tumbling....
...Private-equity owned UK supermarket chain Wm Morrison has agreed a £2.5bn deal to sell its petrol forecourt business to sister company Motor Fuel Group, in a move that will help Morrisons shore up its balance...
...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....
...US group Lithia, which already has 50 UK sites, will buy the showrooms, Pendragon said on Monday....
...James Whelan, president of the Real Estate Board of New York, the industry trade group, called her a trailblazer....
...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...
...Tesla, General Motors and Rivian all reported strong US sales and deliveries for EVs during the second quarter, as did BYD in China....
...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....
...U-Power last month signed a deal to supply New York-based EV start-up Olympian Motors with its skateboards....
...WM Motor, another EV start-up based in Shanghai founded by a former chair of Volvo China, told creditors last week that it had started restructuring proceedings in early October....
...China started commercial driverless development in 2013, about five years after groups in the US....
...An escalating strike against Tesla by a group of Swedish unions has been branded “insane” by Elon Musk as the industrial action threatens to disrupt the US carmaker’s operations in other parts of Europe....
...The impact on Japan’s car manufacturing will be monumental,” said Takaki Nakanishi, a veteran automotive analyst who runs his own research group....
...The unit recorded sales of ¥185bn, not including subsidies, compared with ¥2.1tn for the entire group....
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