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...giant to taper its electric ambitions....
...The search group partnered with carmaker Geely Holding to set up Jidu in 2021, with Baidu holding a majority stake and keen to make a vehicle that showcases its self-driving technology....
...Following analyst criticism of its cash burn rate as it tried to boost sales, the company secured a $740mn investment in June from Abu Dhabi-backed CYVN Holdings....
...First, they decided that the century-old company would reposition itself as a forward-looking “mobility” group that would stand out in a crowded field with a fleet heavy on Tesla’s electric vehicles....
...Attorneys for shareholders who defeated Elon Musk’s $56bn Tesla pay package have asked a Delaware state court to award them shares in the electric vehicle maker worth nearly $6bn as payment....
...Tesla had tried hard to win residents round to its expansion plan, holding weekly town hall meetings where locals could air their misgivings and ask questions about the project....
...The advertisement, one in a series the car rental company has done with Brady, was part of its campaign to display its heavy investment in electric vehicles, which the company claimed would be revolutionary...
...Bird also listed European rival Tier, from whom it acquired its US subsidiary Spin in September in a $19mn deal, as holding a more than 10 per cent equity stake....
...Clive Black, a retail analyst at Shore Capital, said: “Should CD&R sell MFG, which it has owned for some years, that equity holding of Morrisons could be quite relevant.”...
...Panasonic clings to No 4 ranking Japanese electronic conglomerate Panasonic Holdings, once the world’s largest producer of electric vehicle batteries, plans to invest around $4bn in a new plant in the US...
...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...
...A place in the shake-up VinFast, the Nasdaq-listed Vietnamese electric vehicle maker, has set a target of wooing drivers in 50 markets, from the US to India, an ambitious goal given many of them have likely...
...Hertz insists that the economics of electric cars will prove favourable in the long term. But the halcyon days of 2021 seem like a long time ago....
...The bulk of the holdings have compounded high returns to date. The lesson is that valuations matter....
...It is a good time for investors to cut holdings further....
...Understandably, many customers have been writing calls against their NVDA holdings. The problem for them is that the rapid run-up in the stock has put those calls in danger of being exercised....
...Its remaining holding is worth about $2.3bn. BYD’s net profit more than doubled to Rmb21.37bn ($3bn) in the first nine months of 2023, compared with the same period a year earlier....
...A meeting with Jeff Immelt led to $500mn more from General Electric....
...The Sage of Omaha, Warren Buffett, sold off some of Berkshire Hathaway’s Chevron holdings in 2023 and some analysts have soured on the stock....
...The holding company has some assets in Hong Kong, such as an electric vehicle company and a property services company, that can now be taken over, although they also in turn hold assets in the mainland....
...The electric vehicle arm of Lotus has disclosed a $353mn half year loss and warned about risks to its business from the Chinese government, in a filing ahead of its planned $5.5bn stock market listing....
...It was set up in 2015 as a fuel-buying joint venture between two large Japanese utility companies, Tokyo Electric Power and Chubu Electric Power....
...Ogunlesi eventually rose to head investment banking at the now-defunct Swiss group before founding GIP in 2006 with backing from Credit Suisse and General Electric....
...A version of this article was first published by Nikkei Asia on November 23. ©2023 Nikkei Inc. All rights reserved....
...For risk management reasons, true believers may decide to sell their holdings prematurely if the shares come under pressure, fearing that the lack of liquidity will impede their ability to exit later....
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