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...Indian steelmaker JSW last month launched a $1.5bn tie-up with China’s SAIC Motor to build and sell EVs in India....
Tech giant wants suppliers to build key component in India as part of broader effort to diversify supply chain
...It also owns assets including petrol station operator Motor Fuel Group and part of car windscreen repair company Belron. CD&R has explored the possibility of selling MFG....
...JSW, a family-owned conglomerate, and other Indian partners will own 51 per cent of the joint venture, which will be called JSW MG Motor India....
...john.reed@ft.com...
...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....
...Toshihiro Suzuki president of Japan’s Suzuki Motor, one of India’s top-selling carmakers, said on Wednesday it planned to invest Rs350bn in a new plant in Gujarat that would begin making cars in 2028-29....
...India’s high tariffs on motor vehicles, meant to boost local production, have been a lingering issue for foreign carmakers, and the UK is pressing it to cut car tariffs as part of the two countries’ talks...
...duty and fully executes all of his responsibilities without any exemptions or accommodations,” Kevin O’Connor, Biden’s physician, wrote in a summary of the visit that occurred earlier in the day at Walter Reed...
Chinese EV giant is widening its range by price point and fuel type
...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....
Motor racing expands its audience in America on the back of Netflix docu-series and successful races in Miami, Austin and Las Vegas
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...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...
...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....
...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....
...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....
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...Ford and General Motors have paused plans to expand their EV manufacturing capacity in recent months, and last week Rivian announced that it would cut 10 per cent of its workforce and keep deliveries flat...
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...Tesla shareholders were even more carried away, adding $46bn to the EV maker’s market cap — more than General Motors was then worth — when it announced a stock split in August 2020....
...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...
...INC will seek to challenge Modi’s Bharatiya Janata party in a national election in the first half of 2024....
...The company disclosed it had sold off its remaining position in carmaker General Motors during the three months to the end of September, an investment that was worth roughly $850mn in the previous quarter...
...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....
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