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Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
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...PIF has already spread itself across several high-end automotive companies, taking a stake in Aston Martin last year, and is the cornerstone investor in luxury electric start-up Lucid....
...In the last quarter, US chip designer Nvidia revealed that revenue from its automotive business fell 4 per cent year over year. In some regards, Apple had the right idea....
...Ansys, which has headquarters in Pennsylvania and has its origins in structural analysis tools, makes engineering simulation software used in industries from automotive and construction to healthcare and...
...Liyabrairie leather book bag, €295 When Lego met McLaren To celebrate its 60th anniversary, McLaren teamed up with Lego to create two toy supercars – the McLaren F1 LM in papaya orange from the 1990s,...
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...Daniel Kollar, an automotive expert at consultancy Intralink, said Tesla’s China performance had remained strong but the company faced challenges from local competition, a renaissance of hybrid cars and...
...The industry-leading gross profit margin on Tesla’s automotive operations briefly topped 30 per cent in 2021....
...The acquisition by Berkshire, whose related interests include car insurer Geico and dealership Berkshire Hathaway Automotive, was regarded as a vote of confidence in the US economy and more particularly...
...MSP Sports Capital and other investors took a minority stake in McLaren Racing at a £560mn valuation in the same year....
...Pendragon, one of the UK’s largest automotive retailers, is to sell all of its car dealerships for £280mn and focus on software, ending a tumultuous period in which the company’s attempts to sell itself...
...Excluding the effects of regulatory credits, the gross margin from Tesla’s automotive unit — a closely watched measure of its core operations — increased to 17.2 per cent for the quarter, slightly ahead...
Also in today’s newsletter, extreme weather spells trouble for Asian textile producers
...By contrast, many other businesses inside Icahn’s empire, which span automotive services, real estate and even sausage packaging, have struggled to generate meaningful earnings....
...A record 313,000 electric vehicles were sold in the US in the third quarter, according to data group Cox Automotive....
...Renesas, a key supplier of chips to the automotive industry, has been on a deal spree as it looks to diversify, which included adding the Apple supplier Dialog to its stable....
...“The company is facing tougher competition in the US and Europe as more automakers opt for cheaper LFP [lithium iron phosphate] batteries,” said Lee from the automotive institute....
Company reports narrowing loss as volumes forecast to hit 52,000 this year
...“Those global corporates already proved that even the biggest automotive [manufacturers] today have to purchase China’s solutions in order to save time as well as get a lot more competitive products,” Li...
...According to Mastercard SpendingPulse, which measures activity in stores and online across all forms of payment, US retail sales on Friday excluding automotive categories were up 2.5 per cent year on year...
...“In the automotive space, not everyone can win,” and right now, it is “the Wild West out there”....
...Automotive manufacturers are using AR and VR to develop the next wave of in-car entertainment systems, as well as providing route navigation....
...The other [opportunity] is automotive. We have built a very strong position in automotive with our Snapdragon digital chassis and the immersive digital cockpit....
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