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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....
...Its announcement to invest $14bn to develop smart cars to take on rivals in the premium segment last month follows its launch of its electric supercar and luxury off-road hybrid sport utility vehicle....
...Motors, power and network technologies may be repurposed for communications satellite uses....
...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....
...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....
...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...
...Its cyber space regulator announced last year that children under 18 should be limited to a maximum of two hours a day on smart devices....
...Replacing him is Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit....
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...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...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....
...In today’s automotive infrastructure environment, traffic control devices and other motor vehicles are not communicating out to other smart partners in the overall environment....
...“Steve is a super smart guy with a great pedigree. But he was a numbers guy not an EV or turnaround expert,” said Ian Zaffino, an equity research analyst at Oppenheimer....
...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....
...That’s even with some quirks in the inflation data that smart folks online have been pointing out....
...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...
...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....
...More than that, it doesn’t seem a particularly smart trading strategy. Buying or dumping en masse is a huge signal to the market....
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...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...
...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...
...Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
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