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...Another heavily-traded company that until recently was a penny stock is Mullen Automotive....
...While the number of car suppliers worldwide have risen, thanks to growth in China and the US, Germany’s network of suppliers have continued to lose market share to Chinese rivals....
...The lay-offs and lower-than-expected production projection come as EV sales are growing at a slower rate in the US....
...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....
...German automotive supplier ZF, which is building a chip factory in the western region of Saarland with US group Wolfspeed, said it was worried about the consequences for Germany as a place to do business...
...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...
...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...
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...The industry-leading gross profit margin on Tesla’s automotive operations briefly topped 30 per cent in 2021....
...Renesas, a key supplier of chips to the automotive industry, has been on a deal spree as it looks to diversify, which included adding the Apple supplier Dialog to its stable....
...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...
...US group Lithia, which already has 50 UK sites, will buy the showrooms, Pendragon said on Monday....
...“Those global corporates already proved that even the biggest automotive [manufacturers] today have to purchase China’s solutions in order to save time as well as get a lot more competitive products,” Li...
...The US electric-car maker told investors in an earnings report released after the stock market closed on Wednesday that it was “between two major growth waves”....
...A record 313,000 electric vehicles were sold in the US in the third quarter, according to data group Cox Automotive....
...There are also times when our hedge book can go against us and overwhelm the performance of our long positions.”...
...According to Mastercard SpendingPulse, which measures activity in stores and online across all forms of payment, US retail sales on Friday excluding automotive categories were up 2.5 per cent year on year...
...At midnight last night the biggest US car workers’ union began its first ever co-ordinated strike against all three of the major Detroit carmakers....
...“In 2019, Tesla created a frenzy at the Cybertruck reveal by claiming the electric pickup’s starting price would come in below $40K,” said Jessica Caldwell, an analyst at automotive industry insights platform...
...“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....
...While EV sales continue to accelerate, they still represent less than 9 per cent of US new vehicle sales....
...The Alliance for Automotive Innovation, a trade group that includes major carmakers, has said stringent US emissions standards proposed in April mark “a significant movement of the country’s electrification...
...“It is very hard to measure, but if you look at the readiness of deployment and availability of technology, [China] is probably no more than one or two years behind,” said Raymond Tsang, an automotive technology...
...There is a big difference to [US union] UAW. Maybe that is why Musk gets it wrong”....
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
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