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...The company’s fleet consists of EVs made by Indian conglomerate Tata; MG Motor India, a subsidiary of Chinese carmaker SAIC Motor; and BYD, a Chinese rival to Tesla that has embarked on an aggressive international...
...India’s government has set targets to increase the proportion of electric motor sales to 30 per cent of all private cars and 80 per cent of two and three-wheelers by 2030, a large jump from current market...
...Other creditors include Savills, LinkedIn, Amazon Web Services, and an immigration agency....
...Disney has defeated a challenge to its board from activist investor Nelson Peltz “by a substantial margin”....
...Then, last week, fellow start-ups Rivian and Lucid Motors also announced lacklustre results, sending their shares tumbling....
...The share of electric cars sold in the UK declined for the first time in 2023, down to 16.5 per cent from 16.6 per cent in 2022, according to figures released by the Society of Motor Manufacturers and Traders...
...Tata Motors is the top-selling EV brand in India’s small market for battery-powered vehicles, followed by Chinese-owned MG Motor and Indian brand Mahindra....
...Nikola will not support a slate of board nominees proposed by its founder Trevor Milton, putting a dent in his plan to regain influence over the troubled electric truck start-up after he was convicted of...
...It is the second-largest domestic producer of industrial robots and an important maker of motors and other components for electric vehicles....
...“Toyota doesn’t do this stuff out of the kindness of their hearts,” said Paul Hohenshell, a production worker with 25 years of service....
...Before rejoining the agency last year, Whitaker worked as chief operating officer at Supernal, Hyundai Motor Group’s nascent electric aircraft business....
...Replacing him is Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit....
...In total, 20 per cent of UK motor mechanics, or 45,300 people, are now also officially qualified to work on EVs....
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...The company has sought to capitalise on the shift to electric cars by developing ultrarapid charging hubs for these types of vehicles....
...The California Department of Motor Vehicles had already ordered Cruise to take its driverless cars off the roads....
...A review of motor finance commissions has roiled lenders in that market this year, something Lex has written about here....
...Elon Musk’s Tesla and Chinese rival BYD both reported sharp falls in electric vehicle sales yesterday, adding to concerns over the slowing shift towards EVs....
...The expected service revenues of €5bn are included in its 2030 revenue target....
...Utilities have long been dependable motors of Warren Buffett’s Berkshire Hathaway conglomerate, turning out steady profits at rates of return approved by regulators....
...Smart reads Peltz’s sequel Billionaire Nelson Peltz lost big in his battle against Disney....
...Scherr, who was previously chief financial officer of Goldman, will be replaced by Gil West, a veteran of Delta Air Lines and General Motors....
...Separately, India’s government signed off on a plan to lower import taxes on some higher-priced, imported electric vehicles....
...Another point of tension has been the automobile industry’s transition towards electric vehicles....
...In today’s newsletter: AHO turns to telco PE’s big windfall Japan steels itself for more M&A ‘As Nelson Mandela said . . . ’ Yesterday, DD formally bid farewell to Credit Suisse....
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