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...Another heavily-traded company that until recently was a penny stock is Mullen Automotive....
...The people with knowledge of Tesla’s plans said it would send a team from the US by late April to study sites for the plant, focusing on states with existing automotive hubs, including Maharashtra and Gujarat...
...This story was corrected to reflect that Group 1 Automotive has 55 sites in the UK, not 51 as indicated in a previous version....
...FBI director Christopher Wray this week said ByteDance was “beholden” to the Chinese government, although TikTok has denied claims that Beijing has control over the app....
...Of Tesla’s total quarterly sales of $21.3bn, 82 per cent were indeed “automotive revenues” while the rest were energy and services....
...US security professionals, including most recently FBI director Christopher Wray, have raised increasing concerns about the app’s Chinese ownership....
...A version of this article was first published by Nikkei Asia on May 1. ©2024 Nikkei Inc. All rights reserved....
...Testifying before Congress on Monday, FBI director Christopher Wray said he agreed with the view that ByteDance would have to hand over the data that made TikTok’s algorithm so successful if so ordered by...
...Look at the company’s spending decisions and it seems as if everything is targeted towards addressing the 13 per cent drop in automotive revenues....
Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
...In recent congressional testimony, FBI director Christopher Wray said the streaming service was a tool that was ultimately under the control of the Chinese government and that it “screams out with national...
...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...
...Excluding the effects of regulatory credits, the gross margin from its automotive unit — a closely watched measure of its core operations — fell to 16.4 per cent for the quarter, down from 19 per cent a...
...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...
...FBI director Christopher Wray recently said on Capitol Hill that ByteDance would be required to hand over data to Beijing if requested because of Chinese national security laws that outline that obligation...
...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...
...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...
...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....
Also in today’s newsletter, extreme weather spells trouble for Asian textile producers
...“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....
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