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☆ Real Madrid earns crucial draw against Bayern Munich in Champions League semifinal
▼ + stars: | 2024-05-01 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

“We didn’t see the best Real Madrid today,” he told reporters after the game. “Let’s hope we see it in the second leg. Bayern, cheered by the ever-passionate Allianz Arena, roared back in the second half and equalized through a moment of solo brilliance from Sané in the 53rd minute. Alex Pantling/Getty ImagesWhile Madrid will be happy with the result, there were concerns over star player Jude Bellingham who came off in the second half. “We caused Real a lot of problems, especially in the second half.

Persons: Carlo Ancelotti, Blancos, Ancelotti, ”, “ It’s, Vinícius Jr, ’, Bayern’s Leroy Sané, Harry Kane, Vinícius, “, ” Harry Kane, Angelika Warmuth, Toni Kroos, Kim Min, jae, Kroos, Andriy Lunin, Jamal Musiala, clumsily, Lucas Vázquez, Dani Carvajal, Kane, Kim, Madrid’s, Alex Pantling, Jude Bellingham, He’ll, hasn’t, he’ll, ” Kane, Germain Organizations: CNN — Real Madrid, Champions League, Bayern Munich, Bayern, Allianz Arena, Madrid, ”, Bundesliga, Bayer Leverkusen, Borussia Dortmund, Paris Saint, Wembley Locations: Santiago, Germany, Spain, Real Madrid, Madrid, Bayern Munich, Paris

john magaroYeah I mean, that’s a lot of what they ate. I mean, I think it’s about love and lost love and misconnections and eating. I think that’s — you know, I think that’s great advice for a relationship. john magaroYeah, but it feels — but, you know, that’s what Arthur is doing. anna martinI mean, I — and I don’t know if, you know —john magaroAs I say, aigoo.

Persons: anna martin, ” I’m Anna Martin, ”, anna martin I, anna martin I’m, John Magaro, John, Celine Song, Andrew ”, Sarah Pepitone, I’ll, anna martin You, Cookie, Lewis, Clark, anna martin That, anna martin Really, you’re, we’ve, anna martin Wow, anna martin John, let’s, Andrew, I’d, we’d, Angelika, syrupy, New York Times ”, He’d, hadn’t, Toro, he’d, We’d, sashimi, anna martin It’s, anna martin That’s, Sarah, anna martin Right, I’ve, you’ve, you’ll, it’s, anna martin Me, — anna martin That’s, anna martin Poof, they’re, she’s, — anna martin Right, that’s, anna martin There’s, won’t, I’m, anna martin Just, anna martin No, It’s, Arthur, Nora, Greta Lee, Arthur can’t, Hae, Hae Sung, anna martin Huh, She wasn’t, you’d, anna martin Wait, anna martin Yes, You’re, anna martin Aigoo, he’ll, we’re, anna martin What’s Organizations: The New York Times, NYU, New York Times, Bushwick, magaro, vey, Netflix Locations: Paisanos, Brooklyn, Oregon, West, Philadelphia, New York, Korean, There’s, Nora, Korea, Canada, America, Pittsburgh

☆ Sony World Photography Awards 2024: The year’s best images unveiled
▼ + stars: | 2024-02-27 | by ( Oscar Holland | ) edition.cnn.com time to read: +4 min

CNN —Images of a rhino in captivity, a Slovakian spa facility and a German finger wrestling champion are among the finalists and shortlisted entries in the prestigious Sony World Photography Awards 2024. The World Photography Awards organizes several different competitions each year, including youth and student prizes, with its national and regional winners unveiled last month. Liang Chen/Sony World Photography AwardsA photo by Angelika Jakob shows Josef Utzschneider, light heavyweight champion in the German finger wrestling championship. Angelika Jakob/Sony World Photography AwardsAn image by James Rokop, official photographer for the USA Artistic Swimming team. Helen McLain/Sony World Photography AwardsHaider Khan documented two rhinos in captivity in Germany and India.

Persons: Monica Allende, Karol Pałka, Nick Ng, Sujata Setia, Diana, Nygren, Diana Cheren Nygren, Brent Stirton, Jens Juul's, Jens Juul, Maurizio Di Pietro's, Maurizio Di Pietro, Katie Orlinksy's, Katie Orlinsky, Eddo Hartmann, Ekrem Sahin, Angelika Kollin's, Angelika Kollin, Adali Schell, Liang Chen, Angelika Jakob, Josef Utzschneider, James Rokop, Beth Galton, Helen McLain, Haider Khan Organizations: CNN, Sony, London’s Somerset House, World, Soviet Union, USA Locations: Slovakian, German, London’s, Uganda, Nairobi, Kenya, Roskilde, Denmark, Anaktuvuk, Kazakhstan, Soviet, Guangdong province, Germany, India

☆ Bayern Munich vs Union Berlin: Soccer head coach sent off after twice pushing opposition player in the face
▼ + stars: | 2024-01-25 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Union Berlin’s head coach Nenad Bjelica was sent off for twice pushing Bayern Munich forward Leroy Sané in the face during a feisty Bundesliga encounter on Wednesday. As players and coaching staff rushed in to separate the pair, Bjelica again put his hand in Sané’s face. On the pitch, Bayern Munich was keen to hit back after losing to Werder Bremen last time out. Despite all its first-half dominance, Bayern began to creak as the game wore on and Union Berlin had a number of chances to equalize. The referee waved away the protests from Union Berlin’s players and Bayern managed to hold on for an important win.

Persons: Nenad Bjelica, Leroy Sané, Sané, Bjelica, “, ” Bjelica, Frederik Rønnow, Angelika Warmuth, Harry Kane, Raphaël Guerreiro, Kane, Union Berlin, Kevin Behrens, Konrad Laimer, Leon Goretzka Organizations: CNN — Union Berlin’s, Bayern Munich, Bayern, Werder Bremen, Reuters, Union, Union Berlin’s, ” Bayern, Bundesliga, Bayer Leverkusen

☆ Raducanu withdraws from Macau exhibition match
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Tennis - WTA 500 - Stuttgart Open - Porsche Arena, Stuttgart, Germany - April 18, 2023 Britain's Emma Raducanu during her round of 32 match against Latvia's Jelena Ostapenko REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsNov 13 (Reuters) - Former U.S. Open champion Emma Raducanu has pulled out of a December exhibition match at the Macau Tennis Masters as she continues to recover from wrist and ankle surgery, her management company IMG said on Monday. Raducanu was poised to return to action after her May surgeries but, on her 21st birthday, has decided to extend her time on the sidelines. Raducanu started light training in August and said she is targeting a comeback for next season. The inaugural Grand Slam of the year kicks off in Australia on Jan. 15. Reporting by Tommy Lund in Gdansk; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Emma Raducanu, Latvia's Jelena Ostapenko REUTERS, Angelika Warmuth, Raducanu, Tommy Lund, Ken Ferris Organizations: Porsche, Former U.S, Macau Tennis Masters, IMG, Briton, Wimbledon, Thomson Locations: Stuttgart, Germany, Former, New York, Australia, Gdansk

☆ Porsche to integrate Google Maps, Assistance into future cars
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

A Porsche logo is seen on a vehicle displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth Acquire Licensing RightsBERLIN, Oct 30 (Reuters) - Porsche (P911_p.DE) will integrate Google Maps, Google Assistance and other apps from Google Play (GOOGL.O) into its future cars, it said on Monday. Porsche said in January it was considering fully integrating Google software into its car cockpit, following the end of its cooperation with Volkswagen's Cariad unit on software research and development. Carmakers including General Motors, Renault, Nissan and Ford use embedded Google technology in their vehicles via a Google Automotive Services (GAS) package, offering features like Google Maps, Google Assistant and other applications. Reporting by Victoria Waldersee; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Porsche, Volkswagen's, Victoria Waldersee, Matthias Williams Organizations: REUTERS, Rights, Porsche, Google, General Motors, Renault, Nissan, Ford, Google Automotive Services, Thomson Locations: Munich, Germany

☆ Bayern midfielder Kimmich banned for two league games after red card
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Soccer Football - Bundesliga - Bayern Munich v SV Darmstadt 98 - Allianz Arena, Munich, Germany - October 28, 2023 Bayern Munich's Joshua Kimmich walks off the pitch after being shown a red card REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsBERLIN, Oct 30 (Reuters) - Bayern Munich midfielder Joshua Kimmich has been banned for two Bundesliga matches following his fourth minute red card in their 8-0 win over Darmstadt 98 on Saturday, the German Football Association (DFB) said on Monday. The ban means Kimmich will miss Bayern's match at Borussia Dortmund on Saturday and the home game with promoted Heidenheim next week. Germany international Kimmich was shown a straight red card when he failed to control a pass from his own goalkeeper Manuel Neuer and then pulled down Marwin Mehlem at the edge of the box. Champions Bayern are in second place on 23 points, two behind leaders Bayer Leverkusen. Dortmund are fourth on 21.

Persons: Joshua Kimmich, Angelika Warmuth, Kimmich, Manuel Neuer, Karolos Grohmann, Ken Ferris Organizations: Soccer Football, Bundesliga, Bayern Munich, SV Darmstadt, Allianz Arena, Bayern, Rights, Darmstadt, German Football Association, Borussia Dortmund, Bayer Leverkusen, Dortmund, Thomson Locations: Munich, Germany, Heidenheim, Darmstadt

☆ Volkswagen says commodity markets still uncertain after Q3 hedge hit
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies Volkswagen AG FollowBERLIN, Oct 26 (Reuters) - Europe's largest automaker Volkswagen (VOWG_p.DE) on Thursday warned the outlook for commodity markets remained uncertain after confirming it took a major hit to its third-quarter profit from raw materials hedges. Like many other industrial firms, automakers hedge against commodity price swings, potentially leading to non-cash gains or losses, usually at the end of each quarter. This led to a 2.5 billion euro ($2.64 billion) non-cash loss in the third quarter that it will be unable to offset by the end of the year. "The further development of the commodity markets remains unpredictable," Volkswagen said. Volkswagen on Thursday confirmed it posted 78.8 billion euros in third-quarter sales and a 14% rise in operating profit to 4.9 billion euros.

Persons: Angelika Warmuth, Arno Antlitz, Victoria Waldersee, Nick Carey, Rachel More, Jamie Freed Organizations: Volkswagen, REUTERS, BERLIN, Thomson Locations: Munich, Germany

☆ Porsche confirms outlook on strong sales in North America, Europe
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Porsche Mission X is displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth Acquire Licensing RightsBERLIN, Oct 25 (Reuters) - Porsche AG (P911_p.DE) reported nine-month results in line with its annual forecast on Wednesday as strong demand in North America and Europe compensated for lower China sales. The luxury carmaker reported an 18.3% return on sales with operating profit up 9% to 5.5 billion euros ($5.83 billion), even as it faced added costs of preparing for four upcoming product launches next year. Its 2023 forecast expects a 17-19% return on sales of 40 to 42 billion euros, betting on the resilience of luxury demand even amid high inflation and an uncertain global economy. ($1 = 0.9436 euros)Reporting by Victoria Waldersee, Editing by Friederike Heine and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Victoria Waldersee, Friederike Heine, Miranda Murray Organizations: REUTERS, Rights, Porsche AG, Thomson Locations: Munich, Germany, North America, Europe, China

☆ Management of bankrupt Volta Trucks seeking buyer - source
▼ + stars: | 2023-10-19 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

A Volta Zero electric truck is seen during the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 6, 2023. REUTERS/Angelika Warmuth Acquire Licensing RightsCompanies Volta Trucks AB FollowLONDON, Oct 19 (Reuters) - The management of bankrupt electric truck maker Volta Trucks is urgently seeking a buyer to take the company out of administration and help it complete the ramp-up to mass production, a source familiar with the issue told Reuters. The startup had picked a factory in Austria to make its trucks and had been working toward mass production. Representatives of executives at Alvarez & Marsal Europe (A&M), who have been appointed as bankruptcy administrators for Volta Trucks' UK operations, could not be reached for comment. A few, including EV parts supplier Proterra and electric pickup truck maker Lordstown Motors, have begun bankruptcy proceedings.

Persons: Angelika Warmuth, Nick Carey Organizations: REUTERS, Volta, Reuters, Volta Trucks, Management, Alvarez, Marsal Europe, EV, Lordstown Motors, Thomson Locations: Munich, Germany, Sweden, United Kingdom, Austria

☆ At NY Dog and Cat Film Festivals, Love, Licks and Looniness
▼ + stars: | 2023-10-18 | by ( Laurel Graeber | ) www.nytimes.com time to read: +1 min

The cinematic events debuting at the Village East by Angelika this weekend won’t feature any of the acclaimed actors from the recently concluded New York Film Festival. But that’s no surprise: They’re among the four-legged performers in the sixth annual NY Cat Film Festival and the eighth annual NY Dog Film Festival. Each offers short documentary and fictional works illustrating how people affect the lives of animals, and how animals affect the lives of people — usually in positive ways. “I try to keep them to films that are lighter and that simply uplift you,” Tracie Hotchner, the founder of both festivals, said in a video interview. And even though some of the featured dogs and cats are in difficult circumstances, the movies, she added, are “more of a celebration of the groups that rescue them.”

Persons: Angelika, “, Tracie Hotchner, ” Organizations: New, Film, NY

☆ China's electric vehicle giant BYD sees Q3 net profit as much as doubling
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

People stand next to BYD Company vehicles, at the 2023 IAA Mobility auto show, in Munich, Germany, September 10, 2023. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies BYD Co Ltd FollowHONG KONG, Oct 17 (Reuters) - Chinese electric vehicle giant BYD (002594.SZ) on Tuesday said it expects third-quarter net profit to as much as double thanks to robust sales and effective cost control. The Shenzhen-based company forecasts net profit for the July to September period at between 9.55 billion yuan ($1.31 billion) and 11.55 billion yuan, an increase of 67% to 102% from a year earlier. "Despite the increasingly intensified competition in the automobile industry in the third quarter, the company continued to record profit," BYD said in the filing. Net profit in the nine months through September is expected to rise 120-142% year-on-year to between 20.50 billion yuan and 22.50 billion yuan, it said, up from a net profit of 9.31 billion yuan in the year ago period.

Persons: Angelika Warmuth, BYD, Twinnie Siu, Jan Harvey Organizations: BYD Company, REUTERS, BYD, Tashkent Municipal, Thomson Locations: Munich, Germany, HONG KONG, Shenzhen, Uzbekistan, Tashkent

☆ Electric truck maker Volta Trucks files for bankruptcy in Sweden
▼ + stars: | 2023-10-17 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

A Volta Zero electric truck is seen during the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 6, 2023. REUTERS/Angelika Warmuth/File photo Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Electric truck maker Volta Trucks said on Tuesday it has decided to file for bankruptcy proceedings in Sweden, after difficulties at suppliers made it hard for the startup to raise funds. Volta said it will also shortly file for bankruptcy in Britain. The electric truck maker had raised around 300 million euros ($316 million) from investors and said it had an order book of more than 5,000 vehicles. Volta Trucks had picked a factory in Austria to make its trucks and had been working toward mass production.

Persons: Angelika Warmuth, Nick Carey, Louise Heavens, Sharon Singleton Organizations: REUTERS, Volta, Volta Trucks, Thomson Locations: Munich, Germany, Sweden, United Kingdom, Britain, Austria

☆ Porsche: deliveries up in every region but China in first 9 months of 2023
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: 1 min

A Porsche logo is seen on a vehicle displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/File photo Acquire Licensing RightsCompanies Dr Ing hc F Porsche AG FollowBERLIN, Oct 13 (Reuters) - Porsche (P911_p.DE) said on Friday that deliveries worldwide for the first nine months of 2023 were up 10% on the year, reaching 242,722 vehicles, with growth seen in every region but China. China sales fell 12% in the same January to September period, reaching 60,748 vehicles, due to the continuing challenging economic situation in the region, it said. Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Ing, Miranda Murray, Friederike Heine Our Organizations: REUTERS, Ing hc F Porsche, BERLIN, Porsche, Thomson Locations: Munich, Germany, China

"The backlash, like a boomerang, can be bigger than what one imagined," he said, referring to potential retaliation by China on European carmakers. While 90% of BMW cars sold in China are produced locally, some materials are shipped from Europe to China, Mertl said. China has condemned the EU investigation, which formally began on Thursday, as out of line with World Trade Organization rules and detrimental to the global growth of EV sales. Asked whether the premium carmaker was seeing dampened demand for EVs reported by Volkswagen (VOWG_p.DE) in recent weeks, Mertl said EV sales were rising and the company was on track to hit its goal of 15% fully-electric sales for the year. Some supply chain problems in logistics and transport persisted and could carry on for the next six months, he added.

Persons: Angelika Warmuth, Walter Mertl, Mertl, Victoria Waldersee, Christina Amann, Friederike Heine, Mark Potter Organizations: BMW, REUTERS, Rights, World Trade Organization, Volkswagen Locations: Munich, Germany, China, Europe, Beijing, European

☆ Porsche AG confirms 2023, long-term margin outlook
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

A Porsche logo is seen on a vehicle displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/file photo Acquire Licensing RightsFRANKFURT, Sept 28 (Reuters) - Luxury carmaker Porsche AG (P911_p.DE) on Thursday confirmed its 2023 outlook, saying demand for its cars remained strong despite the challenging macroeconomic environment. This also influenced the price of the (Porsche AG) share." Still, the company said it still expects an operating return on sales of 17%-19% in 2023 on sales of 40 billion to 42 billion euros ($42.05 billion to $44.15 billion), as well as a return on sales of more than 20% long-term. ($1 = 0.9512 euros)Reporting by Christoph Steitz, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Porsche, Christoph Steitz, Rachel More Organizations: REUTERS, Rights, Porsche AG, Porsche, Thomson Locations: Munich, Germany, China

☆ Tesla to face EU anti-subsidy probe over China exports- FT
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: 1 min

Tesla's Model 3 is displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowSept 26 (Reuters) - Tesla (TSLA.O) and European carmakers that export from China to the EU will be part of the bloc's probe into whether the country's electric vehicles industry is receiving unfair subsidies, the Financial Times reported on Tuesday, citing Brussels' most senior trade official. Reporting by Shivani Tanna in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Shivani Tanna, Shinjini Organizations: REUTERS, Financial Times, Thomson Locations: Munich, Germany, China, Brussels, Bengaluru

☆ BYD says talk of leaked commercial secrets 'purely rumours'
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

People stand next to BYD Company vehicles, at the 2023 IAA Mobility auto show, in Munich, Germany, September 10, 2023. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies BYD Co Ltd FollowBEIJING, Sept 22 (Reuters) - Online discussions saying BYD workers leaked commercial secrets are purely rumours, the Chinese automaker said in a social media post on Friday. BYD also said the person responsible for spreading the rumour has been apprehended by police and that the firm plans to take legal action. In the statement, BYD posted screenshots of social media posts of the rumour which said an employee at the company's semiconductor foundry division had leaked a client's chip engineering drawing to U.S. politicians. BYD is the top-selling auto brand in China by sales in the first eight months of the year with pure electric and plug-in hybrid models.

Persons: Angelika Warmuth, BYD, Liz Lee, Jason Neely Organizations: BYD Company, REUTERS, BYD, Beijing, Thomson Locations: Munich, Germany, BEIJING, China

☆ Raducanu targets comeback next season after injury-hit 2023
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Raducanu, who won her maiden Grand Slam title in New York as an 18-year-old qualifier in 2021, has not played since April, missing the French Open, Wimbledon and U.S. Open and dropping to number 214 in the rankings. "Next season I'll be back," she told the BBC. Raducanu has not crossed the second round of a Grand Slam since her Flushing Meadows triumph and has come in for her fair share of criticism. "The fact they're still talking about me even though I'm not at these events is just a compliment," the former world number 10 said. "Someone told me, 'worry when they're not talking about you'.

Persons: Emma Raducanu, Latvia's Jelena Ostapenko REUTERS, Angelika Warmuth, Raducanu, I'm, they're, It's, Shrivathsa Sridhar, Peter Rutherford Organizations: Porsche, Former U.S, Wimbledon, Briton, BBC, Thomson Locations: Stuttgart, Germany, Former, New York, Flushing, Bengaluru

☆ Explainer: How France aims to discourage buying of Chinese EVs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

WHY IS FRANCE REVISING ITS EV BONUS ELIGIBILITY RULES? However, in the absence of cheap European-made EVs, a third of all incentives are going to consumers buying EVs made in China, a French finance ministry source said. Because Chinese industry generally relies heavily on coal-generated electricity, the criteria are likely to put the bonus out of Chinese carmakers' reach. But French car buyers will have to wait because Stellantis' (STLAM.MI) Slovakia-made e-C3 city car and Renault's (RENA.PA) France-made R5 are not due to hit the market until 2024. The model is currently one of the best-selling electric car's in France with the Tesla Y, Peugeot's e-208, Fiat's 500e, the Megane eTech and MG4.

Persons: Angelika Warmuth, EVs, Emmanuel Macron, Stellantis, MG4, Lorraine Morard, Luca De Meo, Tesla, BYD, Gilles Guillaume, Leigh Thomas, Sharon Singleton Organizations: Company, REUTERS, Rights, Reuters, SAIC, P Global, Renault, Thomson Locations: Munich, Germany, France, China, Europe, FRANCE, French, Slovakia, Dacia Spring

Analysts said the probe could slow capacity expansion and the capital spending cycle of China's battery suppliers, although the move should not pose a big downside risk for Chinese EVs. Hong Kong shares of market leader BYD fell more than 3%. Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment. GROWING MARKET SHAREEU officials believe Chinese EVs are undercutting the prices of local models by about 20% in the European market, piling pressure on European automakers to produce lower-cost electric vehicles. It accounted for 40.25% of EV exports from China between January and April 2023, up from 36.5% in 2022.

Persons: Angelika Warmuth, Ursula von der Leyen, BYD, CATL, der Leyen, Li Qiang, Cui Dongshu, EVs, Donny Kwok, Brenda Goh, Ryan Woo, Anne Marie Roantree, Tom Hogue, Jamie Freed Organizations: BYD Company, REUTERS, China, EV, European Commission, EU . European, Analysts, HK, Geely, SAIC, EU, Chamber of Commerce, China Passenger Car Association, Center, Strategic, Internal Studies, Volvo, Thomson Locations: Munich, Germany, Europe, HONG KONG, SHANGHAI, Hong Kong, Beijing, Shanghai, Xpeng, Shenzhen, SZ, China, Moscow, Russian, Ukraine, New Delhi, Brussels, U.S

☆ Tesla, suppliers to invest $15 bln in Mexico factory - local governor
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsMEXICO CITY, Sept 11 (Reuters) - A state governor in Mexico said on Monday that Tesla (TSLA.O) and its suppliers would invest $15 billion over the next two years in a factory that is still under construction, an amount that is triple what Mexican officials previously announced. In March, Tesla CEO Elon Musk said his company would open a gigafactory in northern Nuevo Leon state, part of the electric carmaker's push to expand its global footprint. At the time, Musk did not detail Tesla's investment, but Mexican officials said the factory would involve a $5 billion investment. Speaking at an event, Nuevo Leon Governor Samuel Garcia said the facility will now involve thrice that amount. Neither Tesla's press office nor Nuevo Leon officials responded after hours to a request for comment on the governor's comments.

Persons: Angelika Warmuth, Tesla, Elon Musk, Musk, Samuel Garcia, Nuevo Leon, Carolina Pulice, Beth Soloman, David Alire Garcia, Miral Organizations: REUTERS, Tesla, Nuevo Leon, Nuevo, BMW, General Motors, Ford, Reuters, Thomson Locations: Munich, Germany, MEXICO, Mexico, Nuevo Leon

☆ China's Xpeng says German carmakers ready to tackle crisis as EV race hots up
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsMUNICH, Sept 6 (Reuters) - German carmakers are ready to tackle their worst crisis, an executive at Chinese EV maker Xpeng said on Wednesday, as China's carmakers expand overseas, putting pressure on Europe in the race to electrify. Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, Brian Gu, Gu, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, Xpeng, China, U.S, Britain, France

☆ China's Xpeng says German carmakers ready to tackle crisis in EV race
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. Chinese companies including Xpeng, BYD and Leapmotor (9863.HK) are seeking the higher margins and faster growth overseas markets can offer, which means they are challenging European companies on their home turf with cheaper models. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, China's carmakers, Brian Gu, Gu, Mueller, ” Gu, “, ”, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, Automotive Industry, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, China, U.S, Britain, France

REUTERS/Angelika Warmuth Acquire Licensing RightsMUNICH, Sept 4 (Reuters) - Mercedes-Benz (MBGn.DE) does not expect its sales in Europe to be all-electric by 2030 but will have its line-up ready, Chief Executive Ola Kaellenius said in an interview at the Munich car show. The premium carmaker has long said it is targeting all-electric sales by 2030 "where markets allow", saying customers will ultimately decide what product they want and pointing to the need for infrastructure to support the transition to electric vehicles (EV). Europe's EV market had grown significantly in recent years but likely wouldn't be ready for all-electric sales by 2030, Kaellenius said on the sidelines of the Munich show. "It's not going to be 100% in 2030, obviously... from the whole European market, but probably from the Mercedes side as well," he said. EV sales in Europe grew nearly 55% in the first seven months of 2023, to about 820,000 vehicles, making up about 13% of all car sales.

Persons: Mercedes, Angelika Warmuth, Ola Kaellenius, Kaellenius, It's, Oliver Zipse, Oliver Blume, Victoria Waldersee, Miranda Murray, Susan Fenton Organizations: Benz, REUTERS, Rights, Mercedes, BMW, Volkswagen, Victoria, Thomson Locations: Munich, Germany, Europe, China

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