DIRS.INFO The most relevant business & tech news

☆ Ford buys EV charging startup in bid to help rescue its electric dreams
▼ + stars: | 2023-11-03 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Ford has bought an electric charging startup called AMP, TechCrunch reported. AdvertisementAdvertisementFord is buying an electric charging startup as it tries to reinvigorate its flagging EV push. The auto giant is purchasing Auto Motive Power (AMP), an electric charging startup that makes battery management software, as it seeks to overhaul its charging technology and reduce the cost of its electric vehicles. A Ford representative told TechCrunch that the deal aimed to accelerate its efforts to encourage EV adoption and improve its charging technology. Other car makers have taken a similarly cautious approach to electric vehicles in recent months, with several ditching ambitious targets amid slowing demand.

Persons: —, Ford, it's, Bill Ford, Harald Wilhelm, Elon, carmaker Organizations: Ford, TechCrunch, Service, Auto Motive, The New York Times, Benz, EV, GM, Subaru Locations: California, Kentucky

☆ See Inside Honda's New HondaJet Echelon Private Jet That Can Fly Transcon
▼ + stars: | 2023-11-03 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

Honda runs a private jet division that builds a fleet of multi-million dollar business planes. Honda Aircraft Company recently unveiled the name of its latest plane, the HondaJet Echelon. Honda Motors established a wholly-owned subsidiary, Honda Aircraft Company, in August 2006 to produce light twin-engine private jets. Since the first delivery of its original HondaJet in December 2015, the planemaker has also produced the HondaJet Elite, the HondaJet Elite S, and the HondaJet Elite II. AdvertisementAdvertisementNow, the company's latest business jet concept is expected to set industry records as the only light jet capable of transcontinental travel.

Persons: —, Tom Cruise Organizations: Honda, Honda Aircraft Company, Service, Honda Motors

☆ Some Tesla workers say they'd never work in a unionized factory, even as Ford and GM workers are set to get a major pay boost
▼ + stars: | 2023-11-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

While Elon Musk has spoken out against unions, a major Tesla factory reportedly has a UAW organizing committee that's speaking with workers. Some Tesla workers say they wouldn't join a unionized company and predicted the UAW would struggle to find footing at Tesla. AdvertisementAdvertisementThe United Auto Workers might have set its sights on Tesla, but some workers at the EV company told Insider they'd be hard-pressed to join a union. Even before the 36-day strike, Ford and GM already spent over $20 more per hour on factory workers than Tesla, according to analysts. Still, other workers told Insider they wouldn't jump ship even for a better pay package at a unionized company.

Persons: Elon Musk, —, Shawn Fain, Tesla, Musk, they'd, Metall, Marquard, it's, you've, Fain, Elon Organizations: UAW, Tesla, Service, United Auto Workers, EV, Detroit automakers, Ford, General Motors, GM, Fremont, Elon Musk's, National Labor Relations Board, Buffalo New, NLRB, Bloomberg, Workers Locations: Fremont, California, Buffalo New York, rehire, company's Brandenburg, Tesla, Tesla's

☆ Elon Musk says Tesla is aiming to make 200,000 Cybertrucks a year. 2 weeks ago, he said the carmaker dug its own grave with the car.
▼ + stars: | 2023-11-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Tesla is aiming to produce 200,000 Cybertrucks a year, CEO Elon Musk told Joe Rogan on a podcast. Tesla previously said it had the capacity to make more than 125,000 Cybertrucks a year. Just two weeks ago, Musk said on a Tesla earnings call that the company had "dug our own grave with Cybertruck." AdvertisementAdvertisementTesla first unveiled the Cybertruck in November 2019, and Musk said at the time the company received 250,000 pre-orders in days. Musk also shared more details about the Cybertruck during the podcast, and spoke of a "beast mode version" of the vehicle.

Persons: Tesla, Elon Musk, Joe Rogan, Musk, —, It's Organizations: Service

☆ Aston Martin lowers volume outlook on DB12 model production issues
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsNov 1 (Reuters) - British luxury carmaker Aston Martin (AML.L) posted a wider-than-expected quarterly loss on Wednesday and lowered its 2023 volume outlook due to production issues for its new sports car DB12. Aston Martin started delivery of its next-generation sports car DB12 last quarter, and expects its 2023 volume to come in at 6,700 units, from an earlier forecast of about 7,000 units. "Given the initial delays experienced with the DB12 ramp up during Q3, we have marginally updated our FY volume outlook as the impact limits production capacity for the full year," the company said in a statement. The London-listed company, which retained the rest of its 2023 outlook, reported an adjusted operating loss of 48.4 million pounds ($58.82 million) on revenue of 362.1 million pounds in the three-month period ended Sept. 30. Analysts on average had expected an adjusted operating loss of 38 million pounds on net revenue of 370 million pounds.

Persons: Aston Martin, Thomas Peter, AML.L, Yadarisa, Sherry Jacob, Phillips Organizations: REUTERS, Thomson Locations: Beijing, China, London, Bengaluru

☆ Aston Martin shares plunge on volume target cut, lingering debt
▼ + stars: | 2023-11-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Company shares had plunged by as much as 20% in earlier trade. Aston Martin reported an adjusted operating loss of £48.4 million ($58.8 million) for the three months to the end of September and a net revenue of £362.1 million, below a company-compiled consensus of £370 million. "The DB12 production ramp up was temporarily affected as supplier readiness and integration of the new EE platform that supports the fully redeveloped infotainment system was delayed," Aston Martin said in its earnings report on Wednesday. Aston Martin Executive Chairman Lawrence Stroll said the launch of the DB12 has seen "extraordinary demand" and is bringing in new customers, with 55% of initial DB12 buyers new to the brand. "With the shares trading at a tenth of the level at which they listed in 2018, the optimistic comparisons Aston Martin made for itself with Italian rival Ferrari look as fanciful as they ever did."

Persons: Aston Martin, Lawrence, Aston, Russ Mould, AJ Bell, Aston Martin's, " Mould, Ferrari Organizations: Company, Aston, Aston Martin, Saudi Arabia's Public Investment Fund Locations: London

☆ Stellantis says it least affected by N.America strikes among Detroit Three
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

[1/4] A Stellantis employee works on the e-GMP electric engine assembly line at the carmaker Stellantis engines factory in Tremery near Metz, France, June 29, 2022. And I think you will continue to hear more about that mitigation as we go forward," she said in a media briefing. Presenting its third-quarter sales results, Stellantis on Tuesday confirmed its forecast for a double-digit margin on adjusted operating profit and positive industrial free cash flow this year. "We believe we continue to be in a very strong position globally and in the U.S.," Knight said. Consolidated shipments rose 11% in the quarter to 1.427 million vehicles, Stellantis said.

Persons: Gilles Guillaume Acquire, Natalie Knight, Stellantis, Knight, Giulio Piovaccari, Gilles Guillaume, Federico Maccioni, Jason Neely Organizations: REUTERS, Detroit Three, Detroit, Thomson Locations: Tremery, Metz, France, North America, United States, Canada, U.S

MILAN (AP) —Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits —less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%.

Persons: Stellantis, Natalie Knight, Ford, Knight Organizations: MILAN, Fiat, Peugeot, GM, CES, LA, Saturday, United Auto Workers Union, Jeep, North Locations: North America, Europe, Asia, U.S, Las Vegas, Michigan, Ohio

☆ Tesla Wins Suit That Blamed Its Software for Deadly Crash
▼ + stars: | 2023-10-31 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

A California jury ruled on Tuesday that a crash that killed a Tesla owner and seriously injured two passengers was not the fault of the carmaker’s driver-assistance software. It is the first verdict involving a fatal crash in which lawyers representing the victims blamed Tesla’s Autopilot system. The technology allows a car to drive with a degree of autonomy but has been criticized as unreliable. Elon Musk, the Tesla chief executive, has convinced many Wall Street analysts and investors that self-driving software will be a lucrative source of profit for the company. Tesla charges as much as $199 per month for its most advanced driver-assistance system, Full Self-Driving.

Persons: Elon Musk Organizations: Wall Street Locations: California, Riverside , Calif, United States

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

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. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

Politicians from across the spectrum have visited the garrison of workers permanently stationed outside the Crevalcore plant, less than 40 kilometres from Ferrari's headquarters. Marelli has put the plan on hold but confirmed it wants to abandon the plant, leaving workers in a limbo. Samira Chouri, 50, has worked at the Crevalcore plant for 18 years. Some 37% of the EU's 800 billion euros ($845 billion) post-pandemic recovery fund is earmarked for climate friendly investment. Climate change think tank ECCO said Italy needed to spend between 7-13 billion euros more per year to meet Europe's decarbonisation goals.

Persons: Marelli, Grazia Vitiello, Samira Chouri, Calsonic, I'm, Sergio Manni, Francesco Simeri, Chouri's, Giovanni Sanfelice, ANFIA, Francesco Zirpoli, Zirpoli, Giorgia Meloni's, Europe's, Vittorio Sarti, Giulio Piovaccari, Vagnoni, Toby Chopra Organizations: U.S, KKR, Volkswagen, BMW, Fiat Chrysler, FCA, Venice University, Center, Automotive, Mobility, Thomson Locations: Italy, Italy's, Emilia Romagna, Marelli, Stellantis, France, Crevalcore, Europe, Rome, Italian

☆ Insider Today: Judging an AI career coach
▼ + stars: | 2023-10-28 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +8 min

In case it doesn't work out, I tried using an AI assistant career coach — released as part of Meta's new series of AI assistants — to see what advice it'd give. The big storyAn AI career coachsorbetto/Getty ImagesInstead of AI taking away your job, what if it could help you find a new one? I messaged him on Instagram about different career advice and broke down what I liked and didn't like about "him." Instead of coming across as an expert, Leo felt like a conversational search engine with lukewarm search results. Instead of coming across as an expert, Leo felt like a conversational search engine with lukewarm search results.

Persons: —, Dixie D'Amelio, sorbetto, He's, Naomi Osaka, Snoop, Leo isn't, Leo, Google's Bard, chatbots, I've, Bing, Leo's, Al Capone, Chris Williams, they've, sriracha, Erin McDowell, Joseph Hendrickson Organizations: Service, Meta, Nissan, Nissan Nissan, Historic Landmark, Microsoft Locations: Alcatraz, Arizona

☆ Americans are so anxious about going electric that they're willing to pay up for hybrids
▼ + stars: | 2023-10-28 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWhile car companies try desperately to gin up demand for their latest electric models, consumers are begging for a compromise: hybrids. In the auto industry, the same logic applies to hybrids, which can provide a more convenient bridge to full EV adoption. Hybrid revolutionThis need for hybrids isn't new. Ford said this week it would postpone $12 billion in new EV investment as the company assesses demand going forward.

Persons: isn't, —, –, they're, Chris Harto, Harto, Akio Toyoda, Cameron Johnson, Ford, Martin French Organizations: Industry, Service, Consumer, EVs, Auto, Consumer Reports, Toyota, Dealers, Magic City Auto Group, Honda Locations: Edmunds, Virginia

☆ The World’s Biggest Carmaker Made a Huge Bet on Tech. Things Went Wrong Fast.
▼ + stars: | 2023-10-27 | by ( River Davis | Photographs Ko Sasaki For The Wall Street Journal | ) www.wsj.com time to read: 1 min

TOKYO— Toyota sells more cars each year than any other company, and it had similarly big dreams when it created its own in-house technology startup in 2021. It picked an American tech whiz to run it and envisioned building software for its cars that would become a standard for the whole industry. So great were the startup’s ambitions that one of its projects was building an entire new city in the foothills of Mount Fuji where it could test self-driving cars, robots and hydrogen for power production. Then-Chief Executive Akio Toyoda said the new unit would help Toyota navigate a “once-in-a-century period of profound change” in which cars become electric, internet-connected, autonomous and heavily reliant on software.

Persons: Akio Toyoda Organizations: Toyota, Mount Fuji Locations: TOKYO, American, Mount

☆ Ford misses on earnings, as warranty costs move carmaker back near the penalty box
▼ + stars: | 2023-10-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Ford (F) reported weaker-than-expected earnings on Thursday as warranty costs ate into profits. Earnings before interest and taxes (EBIT) increased 22% from last year to $2.2 billion but fell short of the $2.7 billion analysts forecasted. Ford shares moved more than 3% lower in after-hours trading in reaction to the disappointing quarter. Ford said the strike has caused Ford to trim about 80,000 units from its plan, reducing 2023 EBIT by $1.3 billion. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Ford, we've, Jim Farley, John Lawler, Jim Cramer's, Jim Cramer, Jim, James Farley, Emily Elconin Organizations: Ford, United Auto Workers union, LSEG, UAW, Ford Model, Management, Ford Pro, United Auto Works, CNBC, Ford Motor Co, Rouge Electric Vehicle, Bloomberg, Getty Locations: EVs, Dearborn , Michigan, U.S

The company on Thursday reported a 12.4% adjusted return on sales in its cars division in the third quarter. Mercedes-Benz described the market environment as "subdued", but Wilhelm said "we are beyond the worst" when it comes to inflation and energy pricing. Mercedes-Benz earlier this month reported a 4% drop in overall third-quarter sales, with top-end sales down 11%, partly caused by model changeovers and a shortage in 48-volt systems supplied by Bosch. Car revenue dipped 3.8% due to the fall in deliveries, but the average selling price remained stable, the company said. ($1 = 0.9485 euros)Reporting by Victoria Waldersee; Editing by Rachel More, Jacqueline Wong and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, BEV, Harald Wilhelm, Wilhelm, Mercedes, Tesla, Victoria Waldersee, Rachel More, Jacqueline Wong, Jan Harvey Organizations: Mercedes, Benz, Japan, REUTERS, EV, BMW, VW, Ford, Porsche, Bosch, Thomson Locations: Tokyo, Japan, BERLIN, Germany, United States, China, stoke

☆ Mercedes-Benz shares fall 6% as profit falls; CFO bemoans 'brutal' EV pricing
▼ + stars: | 2023-10-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Mercedes-Benz shares were sharply lower Thursday after the German carmaker reported a decline in profit and revenue as challenges from electrical vehicle competition to supply chains. On an analyst call regarding the results, Chief Financial Officer Harald Wilhelm described the EV market as a "pretty brutal space," Reuters reported. "I can hardly imagine the current status quo is fully sustainable for everybody," Wilhelm said, according to the news agency. Group earnings before interest and taxes (EBIT) fell 7% to 4.8 billion euros ($5.06 billion) in the third quarter. Revenue was down 1.4% to 37.2 billion euros, below the consensus estimate, as passenger car sales dropped 5%, partially due to supply chain challenges.

Persons: Harald Wilhelm, Wilhelm Organizations: Mercedes, Benz, Reuters, Revenue Locations: Brussels, Belgium, Frankfurt, London, EVs

☆ A time-honored investing strategy is under pressure. But don’t panic
▼ + stars: | 2023-10-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —An age-old investing strategy is losing its shine, but investors aren’t ready to cast it aside. Common wisdom suggests that when investors are fearful, stock prices tend to fall, and bond prices rise as people seek safer investments. When yields rise, bond prices fall, and Treasuries have been sinking in recent months. Those are characteristics of the perfect storm that sent the 60-40 portfolio nosediving in 2022. The 60-40 portfolio shed roughly 17% last year, its worst performance since 2008, according to data from Vanguard.

Persons: Bonds, Stocks, ”, Amy Arnott, Jerome Powell, Brian Henderson, Henderson, Chris Isidore, Marlon Pando, White Lotus, Alicia Wallace, — Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Vanguard, Morningstar, Treasury, BOK Financial, Auto, United Auto Workers, General Motors, Ford, GM, Wednesday, Disney Locations: New York, New Jersey, United States

☆ Jeep, Dodge maker Stellantis to invest $1.6 billion in Chinese EV startup Leapmotor
▼ + stars: | 2023-10-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCStellantis on Thursday said it will invest 1.5 billion euros ($1.58 billion) in Chinese electric vehicle startup Leapmotor , as traditional automakers look for a way to compete in China's cutthroat market. The companies will form the Leapmotor International joint venture, aiming to boost sales of the Chinese brand's electric cars overseas. China, the world's biggest electric vehicle market, is dominated by domestic company BYD , as well as U.S. automaker Tesla . Traditional vehicle companies have been seen to be too slow to transition to manufacturing electric vehicles, hampering potential growth in the Chinese market. Stellantis eyes China boostThe deal could boost Stellantis' efforts in China, by having a local partner lead the way.

Persons: Arjun Kharpal, Li Auto, Stellantis, Abhik Mukherjee, Carlos Tavares, Leapmotor, Zhu Jiangming, Counterpoint's Mukherjee, Bill Russo Organizations: Leapmotor, CNBC, International, JV, Chrysler, Maserati, Tesla, Huawei, Counterpoint Research, EV, IAA, Guangzhou Automobile Company Locations: Leapmotor . China, China, Hangzhou, Munich, Greater China, Europe, Stellantis, China's Xpeng

☆ 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

☆ Japanese carmaker Mitsubishi ending production in China, world's biggest car market
▼ + stars: | 2023-10-25 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Mitsubishi Motors will stop producing vehicles in China, in the latest sign of retreat by foreign automakers in the world’s biggest car market. Following weeks of speculation, the Japanese carmaker confirmed Tuesday that it would wind down local manufacturing and exit a long-running joint venture in mainland China. The move came days after Stellantis, home to brands such as Jeep and Chrysler, moved to withdraw further from China, too. Stellantis continues to sell imported vehicles in China through dealerships. The Japanese firm will pour up to €200 million ($212 million) into Ampere, helping it push further into the European market.

Persons: ” Mitsubishi, “, Stellantis, Dongfeng, Ampere Organizations: Hong Kong CNN — Mitsubishi Motors, Mitsubishi, Guangzhou Automobile Group Company, GAC, Chrysler, Dongfeng Motor, Peugeot, Renault Locations: China, Hong Kong, Wuhan, Xiangyang, French

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Oct 23 (Reuters) - China is upping the critical minerals stakes by curbing exports of graphite, a key raw material in electric vehicle batteries. There is much potential for further escalation in this unfolding critical minerals battle between China and the West. Previous restrictions on lower-grade graphite exports destined for the steel and lubricants sectors have been rescinded. The world's graphite supply chain could well be in for a similar short-term shock. Western governments are still evaluating their response, waiting like the rest of us to see how China's graphite volumes play out in the coming months.

Persons: Fabian Bimmer, Wei Jianguo, Wei, Biden, Obama, Trump, Adam Hodge, China's Wei, David Evans Organizations: Volkswagen, REUTERS, Commerce, U.S, Chips, Benchmark Minerals, U.S . Department, Department of Defense, EV, World Trade Organization, European Union, WTO, Thomson, Reuters Locations: Salzgitter, Germany, China, U.S, Alaska, Australia, Japan

A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. The jury trial, in a California state court, featured testimony from one Tesla employee about Autopilot that the company repeatedly asked to be kept hidden from the public. The lawsuit, filed against Tesla by the passengers, accuses the company of knowing that Autopilot and other safety systems were defective when it sold the car. The electric-vehicle maker also claims it was unclear whether Autopilot was engaged at the time of the crash. But plaintiff lawyers cited testimony from Tesla engineer Eloy Rubio Blanco, who acknowledged during the trial that Tesla understood software on the car could have latent defects.

Persons: Thomas Peter, Micah Lee's, Lee, Tesla, Elon Musk, Eloy Rubio Blanco, Rubio, Dan Levine, Richard Chang Organizations: REUTERS, Tesla, Thomson Locations: Beijing, China, California, Los Angeles

The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. India taxes EVs at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars. Indian giants Tata Motors (TAMO.NS) and Mahindra & Mahindra (MAHM.NS) are backing EVs, while Toyota and Honda Motor (7267.T) want support for hybrids. Toyota has begun developing EVs while also championing hydrogen-powered cars, saying a "multi-pathway" approach is needed to solve the climate crisis. In its letter, Toyota also asks India to bring hybrid cars under a government incentive programme that offers discounts to buyers, a scheme now available only for EVs.

Persons: Anushree, Narendra Modi's, Modi's, Vikram Gulati, Gulati, Aayog, Sarita Chaganti Singh, Aditi Shah, William Mallard Organizations: Toyota, REUTERS, Tata Motors, Mahindra & Mahindra, Honda, EVs, Thomson Locations: New Delhi, India, DELHI, policymaking, Toyota's India

Search resuls for: "Carmaker"

25 mentions found