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Mercedes will also offer a lithium-iron-phosphate, or LFP, battery in the new CLA model lineup due to hit showrooms in early 2025, a first for any Mercedes EV, the CEO said in an interview. Mercedes will preview the future electric CLA with a prototype to be unveiled at the IAA auto show in Munich, Germany on Sunday. Getting more driving range using less energy from the battery is the key target for the German automaker's future EV development, Kaellenius said. Driving range remains a critical competitive benchmark in the EV market. Mercedes engineers have been testing ways to improve EV efficiency using long road trips in a prototype vehicle called the Vision EQXX.
Persons: Ola Kaellenius, Mercedes, Tesla, Kaellenius, Joe White, Susan Fenton Organizations: DETROIT, Benz, Reuters, EV, Tesla, Sunday, VW, Consumers, Thomson Locations: China, Munich, Germany, Europe, United States
Turkey's Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. Yet five foreign investors told Reuters that this week's rate hike signalled a new independence among policymakers who are serious about addressing unrelenting pressure on the currency and reining in inflation expectations. "It feels like they are correcting the mistakes they made with their first rate hike decisions," said Viktor Szabo, portfolio manager at abrdn in London. Erdogan, who has fired four central bank chiefs in four years, has said little about the rate hikes. Reuters GraphicsTurkish stock, Eurobond and CDS markets are more attractive targets this year and next, especially after the rate hike, investors and officials say.
Persons: Umit, Erdogan's unorthodoxy, Mehmet Simsek, Goldman Sachs, Tayyip Erdogan's, Viktor Szabo, Ola El, Van Eck, ERDOGAN, Erdogan, Simsek, Hafize Gaye Erkan, Cevdet Yilmaz, Blaise Antin, TCW, Kaan, Neuberger Berman, Jonathan Spicer, Marc Jones, Jorgelina, Hugh Lawson Organizations: Turkey's Central Bank, Finance, Goldman, Reuters, abrdn, Emerging Markets, Wall Street, JPMorgan, Reuters Graphics, CDS, Yeni, United Nations, International Monetary Fund, Thomson Locations: Ankara, Turkey, ANKARA, LONDON, New York, London, Van, Los Angeles, Reuters Graphics Turkish, Yeni Safak, Morocco, Japan, Singapore, Hong Kong, Istanbul, Rosario
Some investors and economic analysts are sceptical that expansion will lead to increased foreign direct investment (FDI) within the bloc. Still, BRICS leaders and other investors touted the increased economic heft from the expansion. Increasing use of national currencies to reduce U.S. dollar dependence was another goal BRICS leaders discussed at the summit in Johannesburg. And with oil producer heavyweights among the newcomers, investors said this would feed speculation that Saudi Arabia might increasingly switch to non-dollar-denominated currencies for oil trade. "The short-term consequences could be seen in oil," said Kaan Nazli, a portfolio manager at asset manager Neuberger Berman in London.
Persons: Brazil Luiz Inacio Lula da Silva, China Xi, Cyril Ramaphosa, India Narendra Modi, Sergei Lavrov, Viktor Szabo, Li Kexin, Ola El, Chris Turner, Jakob Ekholdt Christensen, Hasnain Malik, abrdn's Szabo, Kaan Nazli, Neuberger Berman, Rachel Savage, Karin Strohecker, Bansari Mayur, Marc Jones, Jorgelina, Emelia Sithole Organizations: Russia's, Iran, United Arab Emirates, abrdn, Emerging Markets, ING, Reuters Graphics, China, International Monetary Fund, Thomson Locations: China, India, Sandton, Saudi Arabia, UAE, Iran, JOHANNESBURG, LONDON, Argentina, Brazil, Russia, South Africa, Ethiopia, Egypt, Johannesburg, United States, Saudi, London, Van Eck, New York, Copenhagen, Dubai, Bangalore, Rosario
The woman spoke to CNN on condition of anonymity, fearing ostracization from her community where the subject of sexually transmitted infections remains taboo. Cervical cancer is the fourth most common type of cancer among women globally, says WHO, and in 2020 it killed some 342,000 women globally. The ministry has also advised women to take the HPV vaccine. The HPV vaccine costs between 800 EGP ($25.9) to 1,000 EGP ($32) per dose. Other Middle Eastern countries have added the HPV vaccine to their national immunization programs, including Saudi Arabia, the United Arab Emirates and Libya.
Persons: CNN —, , ostracization, Lobna Darwish, Egypt’s, they’ve, , Ola Arafa, Rafik Barakat, Arafa, ” Arafa, Barakat, ” Darwish, Nisreen Salah Omar Organizations: CNN, World Health Organization, WHO, World Bank, Egyptian, Personal Rights, Manchester, University of Mansoura, United Arab, Representatives, Mansoura University Locations: Egypt, Cairo, Mansoura, , Saudi Arabia, United Arab Emirates, Libya
Victor Moriyama para The New York TimesVictor Moriyama para The New York TimesCredit... Victor Moriyama para The New York TimesPolicías deteniendo a un hombre en mayo en Durán, en Ecuador. Durante la detención, la madre del hombre, Ana, insistía en que su hijo era un consumidor de drogas, no un traficante. Policías deteniendo a un hombre en mayo en Durán, en Ecuador. Durante la detención, la madre del hombre, Ana, insistía en que su hijo era un consumidor de drogas, no un traficante.Credit...Victor Moriyama para The New York Times
A man checks his mobile phone as he waits while recharging his Ola electric scooter at an electric vehicle charging station in New Delhi, India, February 12, 2022. REUTERS/Aditi Shah/File PhotoPOCHAMPALLI, TAMIL NADU, Aug 15 (Reuters) - Ola Electric, India's largest maker of electric scooters, launched its most affordable rides on Tuesday, in an effort to woo more buyers as the price of e-scooters moves closer to gasoline models. The cheapest gasoline scooter in India costs about 64,000 rupees. The Softbank Group-backed (9984.T) company on Tuesday said it has opened 100 more service centres across the country, taking their total tally to 500. ($1 = 83.3916 Indian rupees)Reporting by Varun Vyas in Pochampalli, Riddhima Talwani in New Delhi and Biplob Kumar Das in Bengaluru, editing by Aditi Shah and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
Persons: Aditi Shah, Ola, Varun Vyas, Riddhima, Biplob Kumar Das, Sonia Cheema Organizations: REUTERS, Softbank, Thomson Locations: New Delhi, India, Pochampalli, Bengaluru
Forest sign U.S. keeper Turner from Arsenal
  + stars: | 2023-08-09 | by ( ) www.reuters.com   time to read: +1 min
Aug 9 (Reuters) - Nottingham Forest have signed goalkeeper Matt Turner from Arsenal with the United States international signing a four-year deal, the two clubs announced on Wednesday. No financial details were given but British media said Forest will pay seven million pounds ($8.92 million) for Turner plus three million in performance-related add-ons. Turner shot to fame in Major League Soccer where he made 111 appearances for New England Revolution before moving to Arsenal last year. It's felt right from the start and I'm happy it's got done." Arsenal are expected to replace Turner with Brentford keeper David Raya, according to British media.
Persons: Matt Turner, Turner, Aaron Ramsdale, Steve Cooper, It's, Ola Aina, Anthony Elanga, David Raya, Rohith Nair, Ken Ferris Organizations: Nottingham Forest, Arsenal, United States, CONCACAF Gold, CONCACAF Nations League, Major League Soccer, New England, Gunners, Premier League, Brentford, Thomson Locations: Nottingham, Bengaluru
The shift to zero-emission mobility should be viewed as a marathon not a sprint, according to the CEO of Germany's Mercedes-Benz. His comments came as the Mercedes-Benz Group reported earnings for the second quarter this week. "We have a whole host of our, so to speak, first generation electric vehicles on the market now," Kallenius told CNBC Thursday. "So we are bullish on electric vehicles and zero emission driving and we're putting billions into it," he added. "In this case, our production network is flexible to produce both high-tech electrified combustion engines and electric vehicles," he added.
Persons: Germany's Mercedes, Ola Kallenius, CNBC's Annette Weisbach, Kallenius, Mercedes, Benz's EVs Organizations: Benz, Benz Group, CNBC
Mercedes-Benz CEO talks product pipeline, China and India
  + stars: | 2023-07-27 | 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 EmailMercedes-Benz CEO talks product pipeline, China and IndiaMercedes-Benz CEO Ola Källenius made his comments during an interview with CNBC's Annette Weisbach.
Persons: India Mercedes, Ola Källenius, CNBC's Annette Weisbach Organizations: Mercedes, Benz Locations: China, India
Delivering affordable electric vehicles (EVs) has become a priority for car makers worldwide as the shift to cleaner driving has come with high prices, due largely to battery costs. In 2022, Chinese car makers had a 9% share of Europe's EV market, nearly double the previous year's figure, according to forecasts by consultancy Inovev. Tavares said Western car makers needed to use "the same weapons" as their Chinese rivals, sourcing parts in lower cost countries and striking partnerships with battery suppliers that offer the best combination of energy, cost and weight. Once-dominant Western automakers are also striving to regain ground in China itself, the world's largest car market, after losing share to local manufacturers. Mercedes-Benz (MBGn.DE) said on Thursday it was sticking to its strategy and would not engage in a price war to "buy" market share in China.
Persons: France's, Thierry Pieton, Luca de Meo, Tesla, Carlos Tavares, Tavares, Mercedes, Ola Kaellenius, Kaellenius, Victoria Waldersee, Silvia Aloisi, Mark Potter Organizations: Western, France's Renault, Finance, Renault, SAIC, Inovev, Jato, Tesla, Peugeot, Fiat, Benz, Mercedes, Thomson Locations: Europe, U.S, Western, China, Berlin
FRANKFURT, July 23 (Reuters) - Mercedes-Benz (MBGn.DE) is making China, the world's top auto market, central to its next electric vehicle (EV) campaign starting in 2025, its CEO told German magazine Automobilwoche. From 2025, all of Mercedes-Benz's new vehicle platforms will only make EVs under a strategy the German luxury automaker outlined in 2021. A senior executive told Automobilwoche the models the company plans to launch in China based on the upcoming MB.EA platform were being reviewed to ensure they better meet the needs of local customers, singling out space and digital content. China remains the most relevant market for Germany's automakers, but local brands are in control with an 81% share of the Chinese EV market in 2022, Counterpoint Research found. China also has a significant stake in Mercedes-Benz, whose top two shareholders are Beijing Automotive Group Co Ltd (1958.HK) and Geely (GEELY.UL) Chairman Li Shufu.
Persons: Ola Kaellenius, Automobilwoche, Li Shufu, Christoph Steitz, Barbara Lewis Organizations: Benz, Mercedes, EV, Research, Beijing Automotive Group Co, HK, Thomson Locations: FRANKFURT, China, Berlin, Ukraine
Mercedes to extend CEO Kaellenius' contract - source
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: 1 min
BERLIN, July 6 (Reuters) - Mercedes-Benz wants to extend Chief Executive Ola Kaellenius' contract, a source with knowledge of the matter told Reuters on Thursday, confirming a report in the Handelsblatt business daily. The person said no surprises were expected on the question of another term for Kaellenius, which would keep the 54-year-old at the helm of the German carmaker until at least mid-2029. Kaellenius' contract is currently set to expire in May 2024. Handelsblatt reported that a supervisory board decision was expected on the matter this summer. Reporting by Ilona Wissenbach; writing by Miranda Murray and Rachel More; editing by Sabine Wollrab, Matthias Williams, Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.
Persons: Ola Kaellenius, Kaellenius, Handelsblatt, Ilona Wissenbach, Miranda Murray, Rachel More, Sabine Wollrab, Matthias Williams, Madeline Chambers Organizations: Benz, Reuters, Thomson Locations: BERLIN
Tesla CEO Elon Musk is scheduled to meet India's Prime Minister Narendra Modi today in New York during Modi's visit to the United States, according to two sources familiar with the situation. Musk and Modi are expected to discuss Tesla's ambitions in the country, setting up a manufacturing base and possible incentives for battery production. Tesla has discussed operating in India in the past, but so far hasn't reached an agreement there. Tesla's largest manufacturing base outside the U.S. is in China, and it's also working on a major facility outside Berlin. While India is widely seen as a growth market for the broader automotive industry, the International Energy Agency projects electric car sales still represent a small share of the global market.
Persons: Elon Musk, Narendra Modi, Modi, Tesla, it's Organizations: India's, Tata Motors, Mahindra, Ola, EV, International Energy Agency Locations: New York, United States, India, U.S, China, Berlin, Mexico, Europe
REUTERS/Fabrizio BenschSummarySummary Companies Germany unveils first ever National Security StrategyDocument reflects growing focus on security over economyContains strong criticism of China but does not mention TaiwanImplementation could be hampered by lack of Security CouncilBERLIN, June 14 (Reuters) - China poses a growing threat to global security, Germany said in its first national security strategy on Wednesday, underscoring Berlin's shift in emphasis from economic interests to geopolitics following Russia's invasion of Ukraine. It also omits some major issues, such as Taiwan, and as expected, does not create a National Security Council that would help its implementation. "We paid for every cubic metre of Russian gas twofold and threefold with our national security." Russia is the top threat to European peace "for now", the National Security Strategy (NSS) said. "The good thing is that German companies are drawing similar conclusions to the German federal government," she said.
Persons: Olaf Scholz, Fabrizio Bensch, cyberattacks, Chancellor Olaf Scholz, Annalena Baerbock, Ola Kaellenius, Baerbock, Noah Barkin, Norbert Roettgen, Scholz, Christian Lindner, Andreas Rinke, Miranda Murray, Rachel More, Madeline Chambers, Christoph Steitz, Angus MacSwan, Mark Potter, Alexandra Hudson Organizations: REUTERS, Germany, Security, BERLIN, Security Council, National Security, NSS, Volkswagen, BASF, BMW, Benz, NATO, Alexandra Hudson Our, Thomson Locations: Berlin, Germany, China, Taiwan, Ukraine, Beijing, Asia, Russia, Moscow, Europe, Moldova, Georgia
New York will get a new dance festival this fall: Van Cleef & Arpels, the French luxury jeweler, announced on Tuesday that it would sponsor a 16-day event partly aimed at bringing more international choreographers and ensembles to the city. The festival, Dance Reflections, will feature groups like LA(HORDE), a French collective that will perform a work set to electronic music with the Ballet National de Marseille. The festival will open with an American classic: “Dance,” a 1979 collaboration between the postmodern choreographer Lucinda Childs and the composer Philip Glass, performed by the Lyon Opera Ballet on Oct. 19 at New York City Center. “We want to combine together very different approaches and to promote the diversity and richness of dance,” Serge Laurent, director of dance and culture programs for Van Cleef & Arpels, said in an interview. “It’s important for the development of artists and audience to be exposed to different approaches, and to have another view of the international scene.”The lineup also includes work by the experimental choreographer Gisèle Vienne and U.S. premieres by Rachid Ouramdane, who directs the Chaillot-Théâtre National de la Danse in Paris; the contemporary choreographer Dimitri Chamblas, in a collaboration with Kim Gordon; the Polish-born choreographer Ola Maciejewska; and the British-Rwandan artist Dorothée Munyaneza.
Persons: Van Cleef, Lucinda Childs, Philip Glass, ” Serge Laurent, , Gisèle Vienne, Rachid Ouramdane, Dimitri Chamblas, Kim Gordon, Ola Maciejewska, Dorothée Munyaneza Organizations: Ballet, de Marseille, Lyon Opera Ballet, New York City Center, Danse, British Locations: York, French, Paris, Polish, Rwandan
With the IPO still some way off, Ola is embarking on investor meetings earlier than usual to explain the business potential of India's nascent EV market. Aggarwal plans to meet investors, including BlackRock (BLK.N), Singapore's sovereign wealth fund GIC, and mutual funds such as T Rowe Price (TROW.O), the first source said. Ola Electric declined to comment. Ola Electric is likely to file regulatory papers on the IPO for approval by August, the two sources said. Ola competes with other startups and bigger companies like TVS Motors (TVSM.NS), Ather Energy and Hero Electric, which are ramping up their EV scooter plans.
Persons: Ola, Bhavish Aggarwal, Rowe Price, Bhavish, Ola Electric, T Rowe Price, Goldman Sachs, Sriram, Scott Murdoch, Aditya Kalra, Jane Merriman Organizations: Blackrock, Bank of America, Temasek, BlackRock, Reuters, TVS Motors, Ather Energy, Hero, EV, Citi, ICICI Securities, Thomson Locations: Singapore, UK, U.S, GIC, MUMBAI, United States, United Kingdom, India
"We'll make your life easier and help you set up shop here," he told ProLogium's Chief Executive Vincent Yang. It is one of four such gigafactories Macron hopes will transform the poor, former coal mining area near Belgium into a hub for the EV battery industry, creating jobs and helping to put France at the forefront of Europe's energy transition. "Results don't just fall from the sky," Macron told Reuters in Dunkirk. At the moment, however, France lags well behind Germany when it comes to attracting battery makers. Still, the IRA almost threw ProLogium's investment in France off course, one French presidential adviser told Reuters.
Persons: Emmanuel Macron, Vincent Yang, Ludovic Marin, Taiwan's ProLogium, Macron, Yang, ProLogium, we've, it's, ACC's, Heiner Heimes, Stellantis, Mercedes, Ola Kaellenius, Marc Mortureux, We're, GUY, Xavier Bertrand, ProLogium's Yang, Fabien Roussel, Leigh Thomas, Michel Rose, Silvia Aloisi, David Clarke Organizations: Business, EV, Macron, ACC, Mercedes, Reuters, RWTH Aachen University, Automotive Cells Company, Franco, Benz Group, EU, PFA French, U.S . IRA, French Communist Party, Thomson Locations: of Versailles, Paris, France, Versailles, Dunkirk, Germany, Netherlands, Taiwan, Belgium, EUROPE, Korean, United States, Europe, French, Hungary, Italy, Brussels, Washington
France inaugurates first of four gigafactories in the north
  + stars: | 2023-05-30 | by ( ) www.reuters.com   time to read: +2 min
[1/4] French Finance Minister Bruno Le Maire visits the gigafactory of Automotive Cells Company (ACC), a joint venture of Stellantis, TotalEnergies and Mercedes, during its inauguration in Billy-Berclau-Douvrin, northern France, May 30, 2023. REUTERS/Pascal Rossignol/PoolBILLY-BERCLAU, France, May 30 (Reuters) - France will inaugurate on Tuesday a battery-making gigafactory, the first of four such plants European and Asian companies plan to build in the north of the country. It highlights the race between European governments to attract global car makers as they seek to bring the supply of components for electric vehicles closer to their main markets. French President Emmanuel Macron, who personally lobbied to secure at least one the gigafactories in the Dunkirk region, has set a production target of 2 million electric vehicles made in France by 2030. ($1 = 0.9084 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.
Ukrainian and Russian officials got into a physical altercation at a conference in Turkey. The most heated incident happened after a Russian official ripped a Ukrainian flag from a holster. In one video from the conference, an apparent Russian official rips a Ukrainian flag from a holster, and the Ukrainian parliament member Oleksandr Marikovski chases him down, initiating a brief fistfight. In the video, Marikovski lands a punch on the Russian official and corners him, retrieving the flag before the two are quickly separated by security staff. An earlier video shows officials from the two camps verbally clashing and pushing each other as Russia's Ola Timofeeva speaks during the conference.
When it comes to electric cars, however, the country is playing a game of catch up. During a recent interview with CNBC's Charlotte Reed, Thierry Koskas accepted that the market in India was "just starting." Citroën India, which launched the fully electric ë-C3 in Feb. 2023, is not alone when it comes to making a move in India's nascent electric car sector. According to the IEA, Tata was responsible for more than 85% of battery electric vehicle sales within India last year. Other Indian firms jostling for position in the sector include Mahindra and Mahindra and Ola Electric.
But Ola Kaellenius said decoupling from China, the world's second largest economy, was "unthinkable for almost all of German industry". "The major players in the global economy, Europe, the U.S. and China, are so closely intertwined that decoupling from China makes no sense," he was quoted as saying. German carmakers depend on the Chinese car market, the world's largest, and Mercedes-Benz counts China's Beijing Automotive Group Co Ltd (1958.HK) and Geely Chairman Li Shufu as its two top shareholders. China accounted for 18% of revenues and 37% of car sales at Mercedes-Benz in 2022 and Kaellenius predicted more to come. "Our sales figures in China are increasing and I am quite optimistic that we will also grow this year.
At the end of the episode, Sam takes his father to see the fractured restaurant, only to find his teammates hard at work repairing it. Now, I confess I’d spent much of the episode trying to remember why Sam had named the restaurant Ola’s; I was planning to recheck Episode 3 and even last season for clues. Keeley and JackPresumably having Aurora-Borealised to their hearts’ content last episode, Keeley and Jack mostly limit themselves to coffee this time around, even if those coffees involve signed Jane Austen first editions and jewelry-filled pastry. In between, Keeley — who’d confided to Jack her love of daisies — returns to an office overflowing with them. (Also, is it just me or is it a tad stalker-y for Jack to secretly pay for Keeley and Rebecca’s dinner?)
Ethiopia to begin negotiations with OLA rebel group
  + stars: | 2023-04-23 | by ( Dawit Endeshaw | ) www.reuters.com   time to read: +2 min
April 23 (Reuters) - Ethiopian Prime Minister Abiy Ahmed said his government will begin negotiations with rebel group the Oromo Liberation Army (OLA) in Tanzania on Tuesday. "A negotiation with Oneg Shene will start a day after tomorrow in Tanzania," Abiy said on Sunday, using another name for the OLA. The OLA is an outlawed splinter group of the Oromo Liberation Front, a formerly banned opposition party that returned from exile after Abiy took office in 2018. In October, the OLA and another Oromo group blamed the Ethiopian government for airstrikes they said had killed a number of civilians. The fighting between the OLA and the federal government is separate to the fighting in Tigray, but the OLA forged an alliance with the Tigray People's Liberation Front (TPLF) in 2021.
[1/2] A man charges an electric vehicle (EV) at the charging hub of Indian ride-hailing BluSmart Electric Mobility in Gurugram, India, December 9, 2022. SCALING UPIndia's ride-hailing market is currently worth $13.4 billion - a tenth of China's - and penetration is just 7%, according to Statista, making the country of 1.4 billion a lucrative opportunity. BluSmart, which operates in just two cities with 5,000 vehicles, says it commands 9% market share of Delhi's ride-hailing market. In February, Uber's India chief Singh dismissed concerns about BluSmart, saying Uber still offered more diverse ride options, including scooters and autorickshaws. "In a way it (BluSmart) has forced Uber to reimagine how it wants to play in India," WEF's Khurana said.
JONATHAN NACKSTRAND / Contributor / Getty ImagesThe Swedish government is now predicting a deeper than expected GDP contraction in 2023, according to data released Monday, worsening an already gloomy outlook for the country's economy. Sweden's Ministry of Finance estimated in December that GDP would shrink by 0.7%, but it now predicts a 1% downturn as it reassesses the "challenging economic environment." "We face major challenges, but we will get through them together," Sweden's Minister for Finance, Elisabeth Svantesson, said in a press release Monday. The latest CPI data shows inflation is finally starting to slow, but wages are limping behind and house prices are facing a serious downturn. Eroding real wagesMost European countries are experiencing sky-high inflation, leaving real wages lagging behind.
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