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...Cruise, the self-driving car subsidiary of General Motors, targeted annual revenues of $1bn by 2025. Last year, the business reported sales of just $102mn amid a $3.4bn loss....
...The FT visited Detroit this week to take the pulse of the Motor City — stay tuned for our report later this weekend. The history of the Lions overlaps with the history of Detroit itself....
...Sales growth of electric cars has slowed in the past year, with carmakers increasingly forced to discount models in order to generate sufficient consumer demand, while companies from General Motors and Ford...
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...But as of September last year, autonomous vehicles in China had driven a cumulative total of 70mn kilometres, on a par with the US, according to data from Bain....
...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....
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...The California company built almost 14,000 trucks in the second quarter, nearly 3,000 more than Wall Street expected....
...Toyota, the world’s biggest carmaker by annual unit sales, has laid out plans to sell 3.5mn battery powered vehicles every year from 2030....
...Musk previously suggested Tesla would make a cheaper model than its $39,000 Model 3, which is provisionally called the Model 2....
...Tesla has also placed less emphasis on its flagship models, withdrawing them from right-hand drive markets such as the UK, in order to push its more affordable Model 3 and Model Y cars....
...The LPO issued $31.6bn in loans in fiscal year 2022, with estimated losses of about $1bn, well below the $5bn set aside for losses and a rate on par with commercial institutions....
...India’s exports are already on par with its major south-east Asian rivals....
...A version of this article was first published by Nikkei Asia on January 3. ©2023 Nikkei Inc. All rights reserved....
...Modern Art is not joining this year’s coinciding Paris+ par Art Basel fair as, Shave says, “I am really mindful about what we take on.”...
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...The EV manufacturer will open up at least 7,500 chargers to drivers of any EV model, including 3,500 along US highways....
...The country also aims to create 3.3mn jobs....
...For the rest of us, perhaps 0-62 in 3.7 seconds and a top speed of 186mph will suffice....
...Here’s how his $1tn+ valuation breaks up: Tesla the car business is valued at the mid-cycle ebitda valuation of Ford and General Motors: For full-self-driving software licencing “we take our 2035 revenue...
...In the rest of the US, government subsidies are expected to cut EV costs by $3,000-$9,000, Exeter said. These trends are a good sign for the environment....
...The Tesla Model 3 saloon now starts as low as $32,740 after federal tax credits worth $7,500. Nearly all of the vehicles shipped last quarter were the mass-market Model 3 and the Model Y SUV....
...A version of this article was first published by Nikkei Asia on August 4. ©2023 Nikkei Inc. All rights reserved....
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