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☆ How to back a lagging lithium miner and still generate income using options
▼ + stars: | 2024-04-29 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Today, I'm focusing my attention on minerals used in modern technology and presenting a way to use options to play a lithium miner. The strategy gives a lower-risk way to get somewhat long this beaten-up miner without going all-in, and generating some income in the process. Lithium is used, as the name suggests, in lithium-ion batteries which are crucial for portable electronics, energy storage, and electric vehicles. Combined with understandably elevated options premiums this could set as a spot to begin entering a partial position, with some options overlays. Or, if the stock falls, would add to the long position at the short-put strike.

Persons: Tesla, Elon Musk, Albemarle Organizations: Albemarle Corporation, Volkswagen, BMW, Mercedes, Hyundai, GM, Ford, Toyota, Kia, Renault, Nissan Locations: Charlotte , NC, U.S, Albemarle, ALB

☆ What if no one wants a cheap Tesla?
▼ + stars: | 2024-04-24 | by ( Matt Turner | Hayley Peterson | ) www.businessinsider.com time to read: +6 min

Even at a lower price, say $25,000, it's a very significant purchase — likely one of the most expensive purchases a person will make. AdvertisementSo let's for a second look at why a lower ticket price might not be a panacea for Tesla. There are many other Tesla buyers, of course, but as Tesla introduces lower-cost models in search of different buyers, needs will shift. Musk and Tesla are politicizedAs Tesla looks to lure potential new buyers with a cheaper car, it will have to contend with souring consumer sentiment toward the EV maker. Maybe the pool of buyers for a cheap Tesla will be ginormous.

Persons: —, Tesla, Elon Musk, TSLA, EVs, It's, BYD, Musk, it's Organizations: Service, Business, Tesla, EV, UBS, Infrastructure, Honda Civic, Toyota, Reuters, Bloomberg, Association, Renault, Elon Locations: California, headwinds, China, India

☆ Renault first-quarter sales rise 1.8%, helped by financing business
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +1 min

A Renault Scenic electric vehicle (EV) at the Munich Motor Show (IAA) in Munich, Germany, on Tuesday, Sept. 5, 2023. French car maker Renault said on Tuesday its first-quarter revenue grew 1.8%, with good performance in its financing business offsetting a drop in turnover in core automotive sales. The group sold 549,099 units over the period, with revenue reaching 11.7 billion euros ($12.47 billion). Leading EV maker Tesla is cutting prices in several key markets, piling more pressure on European firms. Revenues from financing activity grew 27.9% to 1.25 billion euros, helped by higher interest rates.

Persons: Twingo, Tesla Organizations: Renault, Tesla Locations: Munich, Germany, China

Politicians and auto executives on both sides of the Atlantic are calling for more protectionist measures. After Tesla lost its crown to BYD as the world’s biggest E.V. Otherwise, the Tesla C.E.O. said, Chinese E.V. The continent’s auto sector employs 13 million people and generates 8 percent of the bloc’s G.D.P.

Persons: China Tesla, —, Warren Buffett, Tesla, Elon Musk, ” Luca de Meo, Vivienne Walt, DealBook, ”, June’s E.U Organizations: Renault Group’s, Airbus Locations: China, Europe, June’s

☆ As new vehicles become more like computers, what car shoppers need to know about protecting their data
▼ + stars: | 2024-03-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

New cars today are loaded with high-tech features for car shoppers, from their own operating systems to navigation and remote unlock. Almost every new vehicle collects different types of details about you — and they will share and sell that data, according to a September report by Mozilla, a data privacy advocate, which looked at the privacy practices of 25 different car brands. Only two car brands currently allow users to delete their personal data, Mozilla found: Renault and Dacia. "This is still kind of the 'Wild, Wild West' of data collection and aggregation," said Theresa Payton, the founder, president and chief executive officer of Fortalice Solutions, a cybersecurity advisory firm. While it remains to be difficult to do your own research, there are three steps car shoppers can take as they assess potential new cars, experts say.

Persons: Ivan Drury, Theresa Payton, Tom McParland, Said Drury Organizations: Mozilla, Finance, Renault, Dacia, Fortalice Solutions, Automatch Consulting Locations: Edmunds, West

“Special services and law enforcement agencies in the Bryansk region, near the border with Ukraine, detained four suspects from among those who committed a terrorist attack in the Crocus City Hall concert hall,” the committee said. The terrorist attack in Crocus City Hall was carefully planned.”Neither agency specified the nature of the alleged contacts. Suspects detainedVideo footage from the Crocus City Hall showed the vast complex, which is home to both a music hall and shopping center, on fire with smoke billowing into the air. A person places flowers at a makeshift memorial in front of the Crocus City Hall. On Friday, following reports of the Crocus City Hall attack, it advised US citizens not to travel to Russia.

Persons: Vladimir Putin, “, ”, ” “, Maria Zakharova, Andrey Vorobyov, Rescuers, Putin, Stringer, Adrienne Watson, Washington Organizations: CNN, ISIS, Crocus City, Novosti, FSB, Security Service, Russian Federation, RIA Novosti, Tass, Russian Foreign Ministry, Renault, CNN State, ”, Telegram, Russian Emergencies Ministries, Kremlin, Getty, US National Security, State Department Locations: Moscow, Ukraine, Bryansk, Crocus, Crocus City, responsibiliity, Russia, ” Moscow, AFP, Russian, ”, Khorasan, Afghanistan

☆ Remembering Marcello Gandini, designer of the world’s most famous supercar
▼ + stars: | 2024-03-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —Look at almost any modern high-horsepower supercar and you will see the work of auto designer Marcello Gandini. Sharp lines, a low stance, doors that swing up; all were influenced by Gandini’s seminal work, the Lamborghini Countach. Gandini designed both of those cars and, if he had done nothing else, he would still be remembered. But in addition to his work for Lamborghini, Gandini produced cars for automakers including BMW, Fiat and Ferrari. The Lamborghini LP500, a first prototype for the Countach sports car, designed by by Marcello Gandini of Gruppo Bertone, circa 1972.

Persons: Marcello Gandini, Gandini’s, Lamborghini Countach, Stefano Guidi, Lamborghini Miura, Gandini, —, Miura, Lamborghini, ” Gandini, “, ” Marcello Gandini's, “ Gandini, ” Bertone, ” Organizations: CNN, Lamborghini, BMW, Fiat, Ferrari, Volkswagen Polo, Renault, Bertone, Geneva, Hulton, Museo Nazionale dell’Automobile, National Automobile Museum, Lancia, Museo Nazionale dell'Automobile, Porsche, Gooding, Co Locations: Turin, Italy, United States, Pebble Beach , California

☆ Moscow's ties to Beijing are paying off as Russian firms flourish amid lucrative deals with China
▼ + stars: | 2024-03-13 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Some Russian companies are seeing their business boom thanks to trade with China, Reuters reported. Analysts warn of China's potential losses if sanctions extend to companies there that do business with Russia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As China buys more Russian energy supplies, Chinese companies are supplying Russian firms with machinery and vehicles, Reuters said. AdvertisementStill, experts warn of underlying risks in Russia's economic reliance on China, as China may have much to lose if sanctions extend to domestic companies.

Persons: —, Vladimir Putin, Dmitry Peskov Organizations: Reuters, Service, China, Volkswagen, Renault, Chery Locations: China, Beijing, Russia, Ukraine, Moscow

☆ Renault CEO: EV pricing is challenging, but industry must 'fight' for the technology
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenault CEO: EV pricing is challenging, but industry must 'fight' for the technologyRenault Group CEO Luca de Meo speaks on the automaker's full-year results, its "prudent" guidance and the electric vehicle market.

Persons: Luca de Meo Organizations: Renault

☆ Renault shares up 7% as carmaker plans dividend hike
▼ + stars: | 2024-02-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Shares of Renault climbed in morning trade on Thursday, after the French carmaker said it would propose raising its dividend per share to 1.85 euros ($1.99) for the financial year, up from 0.25 euros previously. The company on Wednesday reported a full-year group operating margin of 7.9%, which comes in towards the top end of its prior guidance. Group revenue rose 13% to 52.4 billion euros, while net profit was slightly below forecasts, Reuters reported. The automaker is targeting a group operating margin at or above 7.5% and free cash flow of at least 2.5 billion euros in 2024, down from 3 billion euros in 2023. The company said its focus will be on its "unprecedented" 10 upcoming vehicle launches, on optimizing cost structure and on accelerating its electric vehicle (EV) and software strategy.

Persons: carmaker Organizations: Renault, Reuters Locations: Paris, London

☆ European markets mixed with earnings, U.S. inflation in focus
▼ + stars: | 2024-02-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — European markets were a mixed bag on Tuesday morning, as investors assessed incoming corporate earnings reports and awaited a key U.S. inflation print. The pan-European Stoxx 600 index slipped 0.15% in early trade, with tech stocks shedding 1.3% to lead losses while mining stocks added 0.5%. Headline inflation is expected to come in at 0.2% month-on-month and 2.9% annually, according to economists polled by Dow Jones. The regional Stoxx index has recorded a muted February so far, following a strong end to January. This week will see reporting from several major European businesses, including Heineken, Airbus, Renault, NatWest and Commerzbank.

Persons: DAX, Dow Jones Organizations: LONDON, Japan's Nikkei, Dow Jones Industrial, Federal Reserve, Heineken, Airbus, Renault, NatWest, Commerzbank Locations: Frankfurt, Germany, U.S, London, Europe

☆ European stocks head for higher open as sentiment remains cautious
▼ + stars: | 2024-02-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

After a strong end to January, the pan-European Stoxx 600 index has recorded a muted February so far, dipping 0.17% to date. European markets are heading for a higher open to kick off the new trading week, as investors continue to monitor corporate earnings and the interest rate outlook. Investors may pay particular attention to consumer stocks and what they suggest about the strength of certain economies, as central banks monitor the state of growth and inflation. Many major Asia-Pacific stock markets were closed on Monday for the Lunar New Year, while Chinese markets are shut for the week. The U.S. consumer price index will be released Tuesday.

Organizations: Heineken, Airbus, Renault, Natwest, Commerzbank, Sony Locations: Asia, Pacific, U.S

FRANKFURT, Germany (AP) — The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil company Lukoil, one of the biggest deals for Western-held companies to exit Russia since the invasion of Ukraine. He subsequently condemned Russia's invasion as “barbaric.” The Nasdaq exchange suspended trading in Yandex shares days after the invasion. After the sale, Yandex NV would be left with its international businesses — employing 1,300 people — including self-driving technology and generative artificial intelligence as well as a data center in Finland. Yandex NV Chairman John Boynton said the company had faced “exceptional challenges” since the start of the war. None of the purchasers have been sanctioned, Yandex NV said, and the cash part of the transaction would be conducted in Chinese yuan outside of Russia.

Persons: Vladimir Putin's, Arkady Volozh, Dmitry Peskov, ”, —, Alexander Chachava, Pavel Prass, Alexander Ryazanov, John Boynton, Boynton, McDonald’s, France’s Renault, Baltika Organizations: Western, Nasdaq, Yandex, Google, Yahoo, European Union, Companies, Baltika Breweries, Danone Locations: FRANKFURT, Germany, Russian, Russia, Ukraine, Moscow, Netherlands, Israel, Finland, Avtovaz, Western

☆ Stocks making the biggest moves premarket: Estee Lauder, Nvidia, McDonald's, Caterpillar and more
▼ + stars: | 2024-02-05 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell: Estee Lauder — The cosmetics stock jumped 15% after Estee Lauder beat expectations with its latest results. In its second quarter, Estee Lauder reported adjusted earnings of 88 cents per share, topping the FactSet consensus estimate of 54 cents per share. Caterpillar — Shares of the heavy machinery maker popped more than 4% after the company reported adjusted earnings per share of $5.23 for the fourth quarter. In its first quarter, the industrial gas supplier reported adjusted earnings of $2.82 per share, weaker than earnings of $3.00 per share expected by analysts polled by StreetAccount. Stellantis — Stellantis shares slid 1.7% after Italian daily Il Messaggero , citing financial sources, reported the French government is reviewing a merger between Stellantis and Renault to compete with German and Chinese automakers, according to FactSet.

Persons: Estee Lauder, Catalent, Goldman Sachs, Il, McDonald's, — CNBC's Brian Evans, Michelle Fox, Fred Imbert, Hakyung Kim, Pia Singh Organizations: Novo Holdings, Caterpillar —, Revenue, North America . Air Products, Chemicals, Air Products, StreetAccount, JPMorgan, Nvidia —, Stellantis, Renault, McDonald's, Merck Animal Health, Mattel —, Warner Bros Locations: North America, StreetAccount .

Only 5.7% of the 1.3 million eligible voters cast ballots at the 39 voting stations around the city, the newspaper Le Monde said. Demur said heavier cars make congestion “even more complicated” and that ”one must consider the ecology, the parking issues." It’s about freedom.”The vote follows another City Hall consultation last year on whether to ban for-hire electric scooters. In a country of car-lovers, home to Renault, Citroen and Peugeot, Hidalgo has worked for years to make Paris less car-friendly. It’s become a central Paris haven for cyclists, runners, families and romantics since Hidalgo closed it to motor traffic in 2016.

Persons: Anne Hidalgo, Le, Hidalgo, “, Demur, Hall's, Leicester Organizations: PARIS, Socialist, Le Monde, Renault, Citroen, Peugeot, Paralympic Games Locations: Paris ’, Paris, It’s, Hidalgo, Le Pecq, France

☆ Renault shares jump after scrapping plans to list Ampere EV unit
▼ + stars: | 2024-01-30 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Shares of French car maker Renault jumped 5% in early deals on Tuesday, after the company canceled plans to publicly list its new electric vehicle and software business. Renault's share price rose 5.13% at the market open Tuesday before dipping to trade up 1.7% by 8:30 a.m. London time. De Meo originally announced plans to take Ampere public in 2022, as part of a wider strategy to overhaul the automaker and capitalize on the growing EV market. De Meo said Monday that "market conditions" and the increased profitability of the wider business made the listing untenable. He also pointed to a slowdown in EV sales in Europe, but insisted that the electric market would remain "dominant" in the region due to its decarbonization regulations.

Persons: Luca de Meo, De Meo, Ampere Organizations: Renault, Chinese EV, Financial Times Locations: Chinese, London, Europe

☆ This Swiss auto parts maker's stock could soar by 75%, Vontobel says
▼ + stars: | 2024-01-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Switzerland-listed car parts manufacturer Autoneum's share price could increase by over 70% in the next year, according to Vontobel. The investment bank raised its price target on Autoneum to 215 Swiss francs ($248), representing a potential 74% upside from the current share price of 123.80 francs. However, Autoneum's organic sales grew only 7.2%, lagging the broader recovery, according to the car parts maker's full-year revenue results, released Monday. CHF= 1Y line When excluding negative currency effects that lowered sales by 7.2%, Autoneum's 2023 revenue was 2.43 billion Swiss francs, meeting the company's own guidance. In contrast to Vontobel's bullish outlook, Swiss bank UBS has a neutral view of the stock, with a price target of 110 CHF — 10% below the current share price.

Persons: Vontobel, Arben Hasanaj Organizations: BMW, Ford, Renault, Mercedes, GM, Volvo, UBS, — Locations: Switzerland, Zurich, Asia, Swiss

☆ Pope Francis takes on vested interests to speak out on humanitarian crises
▼ + stars: | 2024-01-23 | by ( Analysis Christopher Lamb | ) edition.cnn.com time to read: +18 min

Pope Francis received an emotional welcome on the island during a visit showing solidarity with migrants fleeing war and poverty. ARIS MESSINIS/AFP/Getty Images Pope Francis confesses in St. Peter's Basilica during the Vatican's Penitential Celebration on Friday, March 4, 2016. Alessandro Di Meo/AP Pope Francis arrives for his visit with prisoners in Santa Cruz, Bolivia, on Friday, July 10, 2015. Franco Origlia/Getty Images Pope Francis and Ecumenical Patriarch Bartholomew I address the faithful in Istanbul on Sunday, November 30, 2014. Gokhan Tan/Getty Images Pope Francis speaks during the feast-day Mass while on a one-day trip to Italy's Calabria region in June 2014.

Persons: Pope Francis, Cardinal Michael Czerny, Francis, “, ”, Regina Coeli, Vincenzo Pinto, Juan Manuel Santos, Santos, Alessandra Tarantino, L'Osservatore Romano, VINCENZO PINTO, Simon Bar Sabbae, Pope, FILIPPO MONTEFORTE, Karekin, TIZIANA FABI, Giuseppe Ciccia, MAX, Pope Francis tries, Pope Benedict XVI, Alessandro Di Meo, Evo Morales, OSSERVATORE ROMANO, Vladimir Putin, Putin, Federico Lombardi, Lombardi, Gregorio Borgia, Getty Pope Francis, Raul Castro, Castro, GABRIEL BOUYS, ANDREAS SOLARO, Kurukkal SivaSri, Mahadeva, Pope Francis in, Eranga, Franco Origlia, Bartholomew I, Gokhan Tan, San Gregorio Magno, Queen Elizabeth II, Prince Philip , Duke of Edinburgh, Oli Scarff, Barack Obama, SAUL LOEB, Santa Sabina, Max ROSSI, Daniele De Sanctis, Pope Francis ', FABIO FRUSTACI, Benedict XVI, Benedict, L'OSSERVATORE ROMANO, Osservatore Romano Pope Francis, Vinicio Riva, Riva, CLAUDIO PERI, Rainbow Association Marco Iagulli Onlus, Fotografia, Father Don Renzo Zocca, Osservatore Romano, LUCA ZENNARO, Jorge Saenz, Dan Kitwood, Jesus, Internationalis Paulus VI, Argentine Cardinal Jorge Mario Bergoglio, Roman Catholic Church's, Peter Macdiarmid, Pope Francis Prev, it’s, He’s, Filippo Monteforte, Donald Trump’s, Czerny, Trump, Donald Trump, Melania, Evan Vucci, Reuters “, ” Cardinal Czerny, Cardinal Czerny, doesn’t, Francis ’, “ Jesus Organizations: CNN, Getty Images, Colombian, Revolutionary Armed Forces, International Catholic Rural Association, Vatican, AFP, Getty, Catholic Chaldean, St, Mercy, ARIS MESSINIS, MAX ROSSI, Getty Images Bolivian, Cuban, Sunday, Queen, getty, Rainbow Association, Renault, Catholic, Roman Catholic, Intelligence, Warner Bros, Discovery, “, Republican, Reuters Locations: St, AFP, Colombia, Rome, Tbilisi , Georgia, Auschwitz, Birkenau, Poland, Etchmiadzin, Yerevan, Armenia, Vatican City, Moria, Lesbos, Peter's, Mexican, Havana, Cuba, Mexico, Santa Cruz , Bolivia, South America, Ecuador, Paraguay, La Paz, Bolivia, Italian, Ukraine, Iraq, Syria, Havana and Washington, Vatican, Pope Francis in Colombo, Sri Lanka, Istanbul, Italy's Calabria, Jerusalem's Old City, Argentina, Roman Parish, San, Rome's, Santa, Brazil, Rio de Janeiro, Argentine, America, Gaza, Nove, Lampedusa, Italy, Ciampino, Czechoslovakia, Canada, United States, Africa

☆ Analysts love these EV-related stocks, giving 2 of them more than 100% upside
▼ + stars: | 2023-11-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The Global X Autonomous and Electric Vehicles exchange-traded fund, which includes companies across multiple parts of the EV supply chain, is up around 16% in the year to date. The Global X Autonomous and Electric Vehicles ETF is one of a number of ETFs that offer a way to invest in a basket of stocks across the supply chain. About a third of the 76 holdings are tech and communications stocks, with industrials, materials, auto stocks and others making up the rest. For investors who want to buy EV-related stocks, CNBC Pro screened the Global X Autonomous and Electric Vehicles ETF for stocks with more than 30% upside over the next 12 months. Lithium producers include Livent and Piedmont Lithium — the latter attracted the only 100% buy rating from analysts and a whopping potential upside of 165.1%.

Persons: Geely Organizations: Autonomous and Electric Vehicles, Analysts, Autonomous and Electric Vehicles ETF, CNBC Pro, Global, EV, General Motors, Renault, Luminar Technologies, . Semiconductor, Nvidia, Infineon Locations: U.S, French

☆ EU October car sales up 14.6%, EV sales jump more than 36%
▼ + stars: | 2023-11-21 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

REUTERS/Abdul Saboor/File Photo Acquire Licensing RightsLONDON, Nov 21 (Reuters) - New car sales in the European Union rose 14.6% in October, boosted in part by a big jump in sales of fully electric cars, while hybrid electric vehicles accounted for nearly three of every 10 vehicles sold in the economic bloc. Sales of fully electric cars rose 36.3% from a year earlier and full hybrid sales were up nearly 39% as the EU recorded its 15th consecutive month of sales growth, the European Automobile Manufacturers Association (ACEA) said on Tuesday. The ACEA said fully electric cars made up 14.2% of sales in October, overtaking sales of diesel cars for the third time. For the ten months through October, sales of fully electric cars were up 53.1%. Reuters GraphicsTesla's (TSLA.O) sales rose nearly 150%, accounting for nearly 12% of fully electric car sales in the EU.

Persons: Abdul Saboor, Nick Carey, Matthew Lewis Organizations: Citroen, REUTERS, Union, EU, European Automobile Manufacturers Association, Reuters Graphics, Volkswagen, Europe's, Renault, European Free Trade Association, Thomson Locations: Meudon, Paris, France, EU, Britain, London

☆ Reynolds makes Alpine F1 investment more visible
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

Reynolds, whose various interests include co-owning Welsh soccer side Wrexham with fellow-actor Rob McElhenney, last June joined a group of investors taking a 24% equity stake in the F1 team. The Canadian-born actor is the chief creative officer of MNTN and invested in Alpine through his Maximum Effort Investments. Alpine said the MNTN logo would be on their cars at this weekend's Las Vegas Grand Prix and at key races in future seasons. "A few years ago, if you had said I’d be bringing together my performance marketing software firm and Alpine F1 Team, I would have told you to get out of my living room -- after asking you to explain what some of those words meant," Reynolds said in a statement. French driver Esteban Ocon will be wearing a Deadpool-themed helmet for Saturday night's race, showing it off to a suitably-impressed Reynolds.

Persons: Milton Keynes, Ryan Reynolds, Ed Sykes, Reynolds, Rob McElhenney, I’d, Esteban Ocon, Alan Baldwin, Ken Ferris Organizations: Soccer Football, England, Wrexham, Milton, Milton Keynes Dons, Formula, Renault, Las Vegas, Alpine F1, Thomson Locations: Wrexham, Britain, London

☆ Aston Martin F1 team gets investment from PE firm Arctos
▼ + stars: | 2023-11-16 | by ( Anousha Sakoui | ) www.reuters.com time to read: +1 min

The Aston Martin logo is seen on a V12 Vantage car at the company’s factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsNov 16 (Reuters) - The Aston Martin Formula One team said on Thursday it had agreed on an investment by U.S. private equity firm Arctos Partners in exchange for a minority shareholding. The stake sale values the car racing group at 1 billion pounds ($1.24 billion), a person with knowledge about the matter told Reuters. "They share our vision for our ultra-luxury brand, and they are extremely passionate about the sport and its prospects," Aston Martin Formula One Executive Chairman Lawrence Stroll said in a statement. The F1 team is sponsored by the eponymous British luxury carmaker in which Stroll holds the largest shareholding of over 25%.

Persons: Aston Martin, Phil Noble, Lawrence, French carmaker, Ryan Reynolds, Rob McElhenney, Prerna Bedi, Maju Samuel Organizations: Aston, REUTERS, Aston Martin Formula, U.S, Arctos Partners, Reuters, French carmaker Renault, Alpine, Thomson Locations: Gaydon, Britain, French, Bengaluru

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The group set out financial targets for the unit, including revenue of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day in Paris. Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time," finance chief Thierry Pieton said. ($1 = 0.9195 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Thierry Pieton, Gilles Guillaume, Silvia Aloisi, Kirsten Donovan Organizations: Renault, Viva Technology, Porte de, REUTERS, Ampere, Reuters, Twingo, Thomson Locations: Porte, Paris, France, PARIS, Europe

☆ Renault sets out targets for EV unit, says won't sell it cheap
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Nov 15 (Reuters) - French car maker Renault said on Wednesday its electric vehicles unit Ampere, which it plans to list on the market next year, forecast 10 billion euros ($10.8 billion) in revenues in 2025, more than doubling to 25 billion euros in 2031. Finance chief Thierry Pieton told reporters ahead of the presentation Renault would not sell off Ampere cheap and had ample cash flow to keep financing it should it not get the valuation it wanted for an IPO. Asked if Renault could decide to distribute Ampere shares to existing Renault shareholders instead of proceeding with an IPO, he said: "Renault is always open to other options for Ampere, but the IPO is the preferred option." Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time."

Persons: Gonzalo Fuentes, Luca de Meo's, Thierry Pieton, Ampere, Pieton, Renault, Gilles Guillaume, Silvia Aloisi Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, Finance, Thomson Locations: Porte, Paris, France, Europe

The Managem Group in a statement denied the findings published in German newspaper Suddeutsche Zeitung that pointed to increased levels of arsenic in the water near its century-old cobalt mine at Bou Azzer in the central Moroccan desert. The newspaper's investigation, published last weekend, found those levels of arsenic were hazardous. At the mine itself, they found almost 19,000 micrograms of arsenic per liter in the water. Political Cartoons View All 1250 ImagesIn its statement, Managem — a subsidiary of King Mohammed VI’s Al Mada Group — said its own monitoring had yielded no evidence of health or water quality issues. The German manufacturer said in a statement this week that it had spoken about the new allegations to Managem, which denied wrongdoing.

Persons: Sidi Blal, Managem, King Mohammed VI’s Al, —, Bou Azzer Organizations: Managem, Suddeutsche Zeitung, BMW, Renault, AFP Locations: RABAT, Morocco, Bou Azzer, Moroccan, United States, China, Europe, Congo, Australia, Bou

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