3 min read
Apple Inc (AAPL.O) is in early-stage talks with China’s CATL (300750.SZ) and BYD (002594.SZ), about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.
The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.
2 min read
The Indian car Industry saw a decent run from January 2021 up to April 2021. However, last month May did throw the production out of gear and we saw a dip in production last month. Despite the consistent lockdowns and halt in production, we are poised to grow this calendar year over 2020, and grow handsomely. June will see a strong comeback since the production has started at almost all OEMs. Another point to note is, the growth figures this year will seem high for the obvious reason that last year we had zero production in the month of April 2020, which means we are a full month ahead of last year.
2 min read
Toyota overtakes Mercedes-Benz claiming the Numero Uno position as the world’s most valuable automobile brand with a brand value of US$59.5 billion.
Toyota has dethroned Mercedes to claim the number 1 position as the world’s most valuable automobile brand. The obvious reasons for this achievement are the fact that Toyota handled the Pandemic situation much better. The volume impact was relatively lesser. Toyota had almost 2% growth in their brand value at reached 59.5 Billion USD.
Continue reading “World’s Top 10 Most Valuable Automobile Brands of 2021!”
Mathieu Rosemain
Reuters 3 min read
Google (GOOGL.O) said it would make changes to its global advertising business to ensure it did not abuse its dominance, bowing to antitrust pressure for the first time in a landmark settlement with French authorities.
The deal with the French competition watchdog could help rebalance the power over advertising in favour of publishers, which held sway over the business in the pre-internet era but lost control with the rapid rise of Google and Facebook (FB.O).
Continue reading “Google to change global advertising practices in landmark antitrust deal”
Reuters
2 min read
Amazon’s billionaire founder Jeff Bezos said on Monday he and his brother Mark will fly on the first crewed space flight from his rocket company Blue Origin next month.
“Ever since I was five years old, I’ve dreamed of traveling to space. On July 20th, I will take that journey with my brother,” Bezos, who is one of the richest people in the world, said in an Instagram post.
Continue reading “Amazon’s billionaire founder Jeff Bezos to fly to space next month”
Reuters
1 min read
Production for Tesla Inc’s (TSLA.O) longest-range Model S Plaid+ is canceled, CEO Elon Musk said in a tweet on Sunday.
“Plaid+ is canceled. No need, as Plaid is just so good.” Musk tweeted.
Continue reading “Musk says Tesla cancels the longest-range Model S Plaid+”
Reuters
3 min read
Daimler AG’s (DAIGn.DE) main China joint venture with BAIC Motor (1958.HK) plans to add a shift and working days at two Beijing plants that will boost nominal capacity to make Mercedes-Benz cars by 45%, a document on the venture’s Chinese website showed.
The projected upgrade at Beijing Benz Automotive Co (BBAC), 49%-owned by Stuttgart-based Daimler and the latter’s main business in China, was set out in a document posted on the BBAC website last month to seek public opinion on the expansion.
India has lost a youth icon ; A poster boy of entrepreneurship & business success, Dr Ankur Bhatia, Executive Director, Bird Group.
He was born in 1973 to Mr. Vijay Bhatia & Mrs Radha Bhatia. In 1994, at a young age of 21, he steered a JV with Spanish Travel Software Amadeus and launched their software which is till date used by travel agents and Airlines and is a clear market leader.
Continue reading “A Tribute to Dr. Ankur Bhatia, Executive Director, Bird Group”
Reuters
1 min read
White House national economic director Brian Deese said on Friday the administration will discuss its review on supply chain problems next week.
Deese told reporters at the daily White House briefing the White House review will address short-term bottlenecks seen this year including housing, construction materials, transportation and logistics. He said the administration has identified concrete solutions on semiconductor supply chains.
Continue reading “White House plans to discuss its supply chain review next week”
Reuters
1 min read
Nissan Motor Co Ltd (7201.T) and Honda Motor Co Ltd (7267.T) saw lower sales in May in China, the world’s biggest vehicle market, while Toyota Motor Corp (7203.T) reported higher sales.
Nissan said in a statement on Friday that it sold 111,096 vehicles, down 14.6% from a year earlier, while Honda’s sales fell 4.1% to 128,713 cars.
Continue reading “Nissan, Honda report lower China sales in May, Toyota up”
Trevor Hunnicutt, Ernest Scheyder
5 min read
President Joe Biden’s strategy to make the United States a powerhouse in electric vehicles will include boosting domestic recycling of batteries to reuse lithium and other metals, according to government officials.
As Biden makes fighting climate change and competing with China centerpieces of his agenda, the administration is set to wrap up a 100-day review on Friday of gaps in supply chains in key areas, including electric vehicles (EV).
Continue reading “EXCLUSIVE Biden’s electric vehicle plan includes battery recycling push”
Nivedita Balu, Joseph White
4 min read
General Motors Co(GM.N) said Wednesday it expects first half profits will be “significantly better” than previously forecast, in part because of success shifting scarce semiconductors to boost production of highly profitable trucks in North America.
The Detroit automaker told investors in early May it expected first half earnings before interest and taxes would be “around $5.5 billion,” factoring out one-time gains and charges. For the full year, GM said it expected pretax profits “at the higher end” of a $10 billion to $11 billion range. Continue reading “GM raises profit outlook as it shifts chips to trucks”
Tom Westbrook
3 min read
Bitcoin slipped 4% on Friday after Tesla boss Elon Musk was at it again – this time firing off a few tweets that appeared to lament a breakup with the cryptocurrency.
Tesla’s big position in bitcoin and Musk’s large personal following often set crypto markets on edge whenever he tweets, and the price fell after he posted “#Bitcoin”, a broken-heart emoji and a picture of a couple discussing a breakup.
Continue reading “Musk ‘trolling’ puts brakes on bitcoin’s rebound”
David Shepardson
2 min read
Ford Motor Co (F.N) said Thursday it could face up to $1.3 billion in penalties in a long-running dispute over import duties paid on Ford Transit Connect vehicles.
The No. 2 U.S. automaker said after the Supreme Court declined to hear its appeal in 2020 that it paid increased duties for some prior imports, plus interest. U.S Customs and Border Protection (CBP) is now seeking additional duties of $181 million and is considering seeking a monetary penalty of “as much as $652 million to $1.3 billion,” Ford said. The automaker added that it would vigorously defend its actions and noted any penalty “would be based on our level of culpability as determined by the courts.”
Continue reading “Ford says it could face $1.3 billion in new penalties in Transit imports”
Renju Jose
3 min read
Australia’s Victoria state authorities said on Friday they had detected the highly infectious Delta COVID-19 virus variantfor the first time in the latest outbreak in Melbourne, stoking concerns of a major spike in cases.
The Delta variant, which has been classified by the World Health Organisation (WHO) as among the four COVID-19 variants of concern due to evidence that they spread more easily, likely caused the latest devastating outbreak in India.
Continue reading “Australia finds highly infectious Delta variant in Melbourne virus outbreak”
Reuters
1 min read
German luxury automaker BMW (BMWG.DE) said on Thursday its factories in China plan to reach carbon emissions neutrality by the end of this year, while its total carbon emissions in its Chinese production chain will fall 80% by 2030.
In China, the world’s biggest car market, BMW is making vehicles with Brilliance China Automotive (1114.HK) in the northeastern city of Shenyang. It is aiming for a quarter of its sales in China to be battery electric vehicles by 2025.
Continue reading “BMW says China car factories to reach carbon neutrality this year”
Reuters
1 min read
David Beckham has taken a 10% stake in Lunaz, a UK-based car restoration and electrification firm, as the former England soccer captain builds on diverse investments in companies related to e-sports, cannabis and now automobiles.
Beckham had invested in Lunaz through his investment vehicle, DB Ventures, the company said on Thursday, but did not disclose the value of the deal.
Continue reading “Spend it like Beckham: Soccer star buys stake in electric-car firm Lunaz”
Reuters
1 min read
Celonis, a German process mining software startup, raised $1 billion in its Series D funding round, taking its post-money valuation to more than $11 billion, the company said on Wednesday.
Celonis also appointed former Wall Street analyst and Google (GOOGL.O) executive Carlos Kirjner as its chief financial officer.
Continue reading “Celonis raises $1 billion, taps Google exec as CFO”
4 min read
Leaders of South Korea’s largest conglomerates urged President Moon Jae-in on Wednesday to pardon Jay Y. Lee, the jailed vice chairman of Samsung Electronics Co Ltd (005930.KS), to maintain the country’s edge in the chip industry.
The plea was made during a luncheon between Moon and chiefs of four major business empires – Samsung, Hyundai, LG and SK – designed to boost economic cooperation after Moon and U.S. President Joe Biden agreed to bolster the global supply chain for high-tech manufacturing. read more
Continue reading “Korea’s business leaders call on Moon to free jailed Samsung boss Lee”
Reuters
2 min read
Creating a digital euro could boost the single currency’s international status by making it easier to use for paying or saving, the European Central Bank said on Wednesday.
The European Commission has made it a goal to boost the euro’s use outside the euro area, which has stagnated for years and declined slightly in 2020 as a result of the coronavirus pandemic.
Continue reading “Digital euro could boost single currency’s international use, ECB says”
Hyunjoo Jin
5 min read
Tesla Inc (TSLA.O) has dropped radar sensors from its semi-autonomous driving system, Autopilot, raising concerns over the safety of the camera-only version, Tesla Vision.
Tesla aims to make the driver-assist system fully self-driving, and many in that young industry are skeptical that a vision-only system will work, saying such systems face challenges in darkness, sunny glare and poor weather conditions.
Continue reading “Explainer: Tesla drops radar; is Autopilot system safe?”
Melanie Burton
3 min read
Tesla (TSLA.O) said it expects to spend more than $1 billion a year on battery raw materials from Australia given the country’s reliable mining industry and responsible production practices.
Robyn Denholm, chair of the U.S. carmaker, said on Wednesday that Australia, which is rich in minerals used for batteries like lithium and nickel, is poised to benefit as developing supply chains for electric vehicle batteries and the green energy age focus on environmental, social and governance (ESG).
Continue reading “Tesla to buy more than $1 bln of Australian battery minerals a year”
Reuters
2 min read
London’s transport operator will receive a funding deal worth 1.1 billion pounds ($1.53 billion) from the government, the third emergency support package since the pandemic hit as it scrambles to find more savings amid a drop in income.
Ridership is at nearly 60 percent of pre-pandemic levels, according to Transport for London which will need to make savings, raise income from new sources and review its pensions scheme as part of the agreement.
Continue reading “London transport operator in third emergency financing deal since COVID”
Reuters
3 min read
Stellantis (STLA.MI), might pick Italy to build a new gigafactory in Europe, to support its expansion into electric mobility, as the carmaker is discussing conditions of the project with Rome, a source close to the matter said on Tuesday.
In April Stellantis, which was formed at the beginning of this year through the merger of Fiat Chrysler and Peugeot maker PSA, said additional gigafactories in Europe and in the United States would be decided this year.
Continue reading “Stellantis discussing conditions with Rome to build gigafactory in Italy – source”
Foo Yun Chee
4 min read
Daimler (DAIGn.DE) has agreed to pay Nokia (NOKIA.HE) for using its patents, ending a row that highlighted a battle between tech and car companies over royalties for key technologies.
Nokia, which makes 1.4 billion euros ($1.7 billion) in licensing revenues every year, and carmaker Daimler had sued each other in German courts in recent years, with mixed results.
Continue reading “Daimler to pay Nokia patent fees, ending German legal spat”
Reuters
2 min read
Electric-truck startup Rivian Automotive Inc could target a valuation of about $70 billion in its potential public listing later this year, Bloomberg news reported on Friday.
Amazon.com Inc (AMZN.O) and Ford Motor Co (F.N)-backed Rivian had a valuation of $27.6 billion, Reuters reported in January, after a $2.65-billion investment round led by T. Rowe Price.
Continue reading “Electric-vehicle firm Rivian could seek $70 bln valuation in IPO- Bloomberg News”
Aditi Shah, Sudarshan Varadhan
5 min read
An Indian court on Monday ordered officials to inspect coronavirus-related safety protocols at Renault-Nissan’s Tamil Nadu car plant, where workers are on strike over allegations that social distancing rules are not being followed.
Workers at the southern Indian factory, jointly owned by Renault (RENA.PA) and alliance partner Nissan Motor (7201.T), did not report for duty on Monday over COVID-related safety concerns, the workers’ union said.
Continue reading “Indian court orders COVID-related audit of Renault-Nissan plant”
Ashok Leyland has consistently relied on its in-house R&D talent and indigenous technology for leading innovations in the CV (Commercial Vehicle) industry.
Continue reading “Team Star Performer 1615 at Ashok Leyland inducted to WAF Innovators Club”
