DIRS.INFO The most relevant business & tech news

☆ Amazon Alexa gets more human-like with generative AI
▼ + stars: | 2023-09-20 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +5 min

CNN —Amazon’s Alexa is about to bring generative AI inside the house, as the company introduces sweeping changes to how its ubiquitous voice assistant both sounds and functions. The company announced a generative AI update for Alexa and, subsequently, of all Echo products dating back to 2014, at a press event Wednesday at its new campus in Arlington, Virginia. Generative AI refers to a type of artificial intelligence that can create new content, such as text and images, in response to user prompts. ‘Alexa, let’s chat’When Limp said “Alexa, let’s chat,” it launched a special mode that allowed for a back-and-forth exchange on various topics. Rowan Curran, an analyst at Forrester Research, said the news marks a major step forward in bringing generative AI to the home and allowing it to accomplish everyday tasks.

Persons: Alexa, Dave Limp, Limp, Rowan Curran, Apple’s Siri, Microsoft’s Cortana, ChatGPT, “ We’re, ” Organizations: CNN, Alexa, Amazon, BMW, Forrester Research, Big Tech Locations: Arlington , Virginia

☆ Carbon accounting startup Plan A just raised $27 million in a round led by Lightspeed Venture Partners with this 11-slide pitch deck
▼ + stars: | 2023-09-19 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Carbon accounting startup Plan A has just secured $27 million in a round led by Californian tech investor Lightspeed Venture Partners. Berlin-based Plan A, founded in 2017, is one of many startups helping big companies measure and manage their carbon emissions. Carbon accounting companies raised $5 billion at the sector's 2021 peak, per PitchBook, as venture capitalists and large asset managers piled into the buzzy category. One way Plan A differentiates itself is its steady pace, cofounder and CEO Lubomila Jordanova told Insider. Operating in a hype market can be tricky because it deflates the value of carbon accounting in the long term, she said.

Persons: Lubomila Jordanova, Jordanova Organizations: Lightspeed Venture Partners, Visa, Deutsche Bank, Opera Tech Ventures, BNP, BMW, BMW Group, Greenhouse, TÜV Rheinland Locations: Berlin, Europe, France, Scandinavia, Paris, London

☆ New Zealand's Fox wins BMW PGA Championship
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] Golf - European Tour - BMW PGA Championship - Wentworth, Virginia Water, Britain - September 17, 2023 New Zealand's Ryan Fox celebrates with the trophy after winning the BMW PGA Championship alongside CEO of the PGA European Tour, Keith Pelley Action Images via Reuters/Paul Childs Acquire Licensing RightsSept 17 (Reuters) - New Zealander Ryan Fox recovered from an early triple bogey to claim victory in the BMW PGA Championship at Wentworth on Sunday, finding a birdie on the last hole to win by one stroke. Fox began the day three shots adrift and when he dropped three shots at the third he looked out of contention. World number two Rory McIlroy caught fire in his fourth round with a 65 to finish at 13 under. Fox had never managed a top-10 finish at the Wentworth event but arrived in good form after a finishing tied third at last week's Horizon Irish Open. He is the first New Zealander to win the tournament.

Persons: Ryan Fox, Keith Pelley, Paul Childs, Zealander Ryan Fox, Fox, Tyrrell Hatton, Aaron Rai, Jon Rahm, Viktor Hovland, Tommy Fleetwood, Rory McIlroy, Martyn Herman, Pritha Sarkar Organizations: BMW, Wentworth, BMW PGA, PGA European, Zealander, Ryder, Thomson Locations: Wentworth , Virginia Water, Britain

NAPA, Calif. (AP) — Sahith Theegala talked all week about the importance of having nearly three dozen family members and friends following him at the Fortinet Championship. It’s a team win,” Theegala said, his mom and dad by his side on the 18th green. Theegala, a son of Indian immigrants who played in college at Pepperdine, made the Tour Championship as a rookie last year. Before his breakthrough in Napa, Theegala had close calls at Phoenix, Hartford and Sea Island, endearing himself to fans. Theegala dropped a shot on the par-4 sixth hole after hitting his tee shot way right into a fairway bunker on No.

Persons: Theegala, ” Theegala, It’s, it’s, Kim, Cam Davis, Justin Thomas, Max Homa, Thomas ’, I’ll, They’ve, I’ve, steadied, “ That’s, ”, “, ” Kim, Thomas, Zach Johnson's, ___ Organizations: Silverado, PGA, Ryder, Pepperdine, BMW Championship, Phoenix Locations: NAPA, Calif, California, It’s, Rome, East Lake, Napa, Hartford

☆ Bale becomes playable character in golf video game
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +1 min

Golf - European Tour - BMW PGA Championship - Wentworth, Virginia Water, Britain - September 14, 2023 Former footballer Gareth Bale is seen during the first round Action Images via Reuters/Paul Childs/file photo Acquire Licensing RightsSept 16 (Reuters) - Gareth Bale's love for golf has been well-documented and the former Real Madrid and Wales forward has swapped the pitch for the green after becoming a playable character in the PGA Tour 2K23 video game. Bale, 34, made his PGA Tour debut at the Pebble Beach Pro-Am in February after calling time on his glittering soccer career at the start of the year. The former Wales captain, who featured on the cover of Electronic Arts' FIFA 14 video game alongside Lionel Messi, has now been added to PGA Tour 2K23, which includes a course custom-designed by him. I'm here getting scanned in PGA Tour 2K23," he said in a video shared on social media. Bale's tally of 111 caps and 41 international goals are both records for the Wales men's team.

Persons: Gareth Bale, Paul Childs, Gareth Bale's, Bale, Rory McIlroy, Lionel Messi, I'm Gareth Bale, I'm, Hritika Sharma, Kim Coghill Organizations: BMW, Wentworth, Real, PGA, Wales, Electronic Arts, FIFA, Southampton, Tottenham Hotspur, Wales men's, Thomson Locations: Wentworth , Virginia Water, Britain, Real Madrid, Wales, Madrid, Qatar, Hyderabad

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat it's like to drive the world's fastest EV — the Rimac NeveraRimac is Croatia's first and only automaker. Its 35-year-old founder, Mate Rimac, started tinkering with electric vehicles after he blew the engine in an old BMW he raced as a teen. After rebuilding it with an electric drivetrain – and winning some races – he founded Rimac Automobili in 2009, and today the company has released an electric supercar, the Nevera. CNBC's John Rosevear gives the $2.1 million EV a test drive in the canyon roads above Malibu to find out if it lives up to the hype.

Persons: Mate Rimac, Rimac Automobili, CNBC's John Rosevear Organizations: BMW Locations: Malibu

The Swedish sensation got up-and-down from a bunker on the par-5 18th for one last birdie to put him on 16-under 200. He is making it look easy, even if it doesn't feel that way to him. “I wish this game was easy but it’s not,” Aberg said. Four of them are within five shots of Aberg, starting with Fleetwood and including Sepp Straka and Tyrrell Hatton at 11-under 205. He looked certain to make double bogey until he poured in the bogey putt and couldn't help but smile.

Persons: — Ludvig Aberg, Connor Syme, Tommy Fleetwood, “, ” Aberg, I’m, Syme, Fleetwood, Callum Shinkwin, Aaron Rai, Ryan Fox, Jon Rahm, Rory McIlroy, Captain Luke Donald —, Sepp Straka, Tyrrell Hatton, Aberg, Swede, ” Fleetwood, “ It’s, ” Organizations: Wentworth, Ryder, BMW PGA, Aberg, Texas Tech, PGA, University, Fleetwood Locations: VIRGINIA, England, Sweden, Swedish, Switzerland

☆ Ryder Cup rookie Aberg shares lead at BMW PGA Championship, McIlroy just makes cut
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Earlier, Soderberg had taken the clubhouse lead at Wentworth with a second-round 64 despite a bogey on the first hole. The Swede made seven birdies and finished with an eagle from over 15 feet at the 18th. However, he is nine shots off the lead having made par on Thursday. All 12 members of the European team made it safely through to the third round, with Tommy Fleetwood sitting one shot behind the leaders. Reporting by Rohith Nair in Bengaluru; editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Sweden's Ludvig Aberg, Paul Childs, Ludvig Aberg, Sebastian Soderberg, Rory McIlroy, Aberg, Luke Donald's, Soderberg, Swede, McIlroy, Tommy Fleetwood, Rohith Nair, Pritha Sarkar Organizations: BMW, Wentworth, Ryder, BMW PGA, Thomson Locations: Wentworth , Virginia Water, Britain, Swedish, Rome, United States, Bengaluru

☆ Buying a car? What the UAW strike means – and doesn’t mean – for auto sales
▼ + stars: | 2023-09-15 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

New York CNN —Now that the United Auto Workers union has started a strike, the US auto market is about to be thrown into turmoil all over again. Auto sales hadn’t entirely recovered from the pandemic, but car shopping in the United States could change once more. The auto manufacturing crises of recent years have left auto dealers better prepared to deal with disruptions, said Scott Kunes, chief operating officer of Kunes Auto and RV Group, which owns more than 40 dealerships in the Midwest. It pays to be flexibleBefore the strikes started, auto dealerships had reasonably healthy inventories of new vehicles, according to Michelle Krebs, an analyst with AutoTrader. That means they’ll still have vehicles to sell for a few weeks, but, as the strike wears on, the choices available will start to dwindle.

Persons: They’re, Jonathan Smoke, Scott Kunes, ” Kunes, “, Kunes, Tyson Jominy, JD Power, Thomas Goldsby, Jominy, Michelle Krebs Organizations: New, New York CNN, United Auto Workers, Auto, Ford, GM, Cox Automotive, Kunes, RV Group, Toyota, BMW, Hyundai, Nissan, Volvo, Subaru, South Korean, JD, University of Tennessee, Trailblazer, Dodge, AutoTrader Locations: New York, United States, Michigan, Canada, Mexico, South Korea

☆ Audi exec says lower tax on imported EVs will help test India market
▼ + stars: | 2023-09-15 | by ( Hritam Mukherjee | ) www.reuters.com time to read: +2 min

The Audi Q8 Sportback e-tron electric sport utility vehicle (SUV) is unveiled during its launch in Mumbai, India, August 18, 2023. Reuters reported last month that the Indian government is working on a new EV policy that would slash import taxes for automakers that commit to some local manufacturing. Audi is trying to catch up with its peers, BMW (BMWG.DE) and Mercedes (MBGn.DE), in the transition to electric. Currently, the company's India arm only makes internal combustion engines locally, which is used in its petrol cars. After four models launched last month, six out of 16 models in Audi India's offerings are electric cars, which are entirely imported and sold in the country priced between $136,000 and $234,000.

Persons: Francis Mascarenhas, Balbir Singh Dhillon, Dhillon, Piyush Goyal, Hritam Mukherjee, Maju Samuel Organizations: Audi, REUTERS, Rights, Reuters, BMW, Mercedes, Thomson Locations: Mumbai, India, Bengaluru

Still, it could hurt perceptions of Chinese EV makers as they expand abroad, Bernstein analysts said in a client note. Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment. Shares in European carmakers were also among the biggest fallers on the euro zone stock index (.STOXXE50) in early trading. STRAINED RELATIONSThe anti-subsidy probe, initiated unusually by the European Commission and not from any industry complaint, comes amid broader diplomatic strains between the EU and China. It accounted for 40.25% of EV exports from China between January and April 2023.

Persons: Annegret, Ursula von der Leyen, Bernstein, BYD, CATL, Cui Dongshu, EVs, Donny Kwok, Brenda Goh, Ryan Woo, Anne Marie Roantree, Tom Hogue, Jamie Freed, Mark Potter Organizations: REUTERS, China, EV, EU, European, Ministry of Commerce, Eurasian Group, Reuters Graphics, Reuters Graphics Hong Kong, HK, Geely, SAIC, BMW, Volkswagen, Mercedes, European Commission, China Passenger Car Association, EVs, for Strategic, Internal Studies, Reuters, Thomson Locations: Berlin, Germany, Europe, China, SHANGHAI, BEIJING, Beijing, EU, Brussels, Southeast Asia, Reuters Graphics Hong, Shanghai, Xpeng, Shenzhen, SZ, Moscow, Russian, Ukraine, U.S, Hong Kong

Here are the big questions about the move, which led to a slide in shares of Chinese EV makers on Thursday:WHY EXPORT TO EUROPE AND HOW MUCH HAS IT GROWN? That is mainly due to Beijing's decade-old industry promotion policy of incentives and subsidies that enabled China to become the world's biggest EV market and control the global EV supply chain, including raw materials. The single largest exporter is Tesla, accounting for 40% of China's EV exports between January and April, U.S. thinktank the Center for Strategic and International Studies says. Chinese state subsidies for electric and hybrid vehicles totalled $57 billion between 2016 and 2022, consultants AlixPartners have estimated. It paid out nearly $15 billion to encourage EV purchases through 2021, China Merchants Bank International has estimated.

Persons: Annegret, Bill Russo, EVs, BYD, AlixPartners, Brenda Goh, Ellen Zhang, Miyoung Kim, Clarence Fernandez Organizations: REUTERS, Rights, European Commission, EV, EU, Volkswagen, Renault, BMW, WHO, Center for Strategic, International Studies, Volvo, SAIC's, MG, HK, China Merchants Bank International, Thomson Locations: Berlin, Germany, China, Shanghai, Europe, United States, CHINA, Netherlands, Denmark

☆ Are Teslas worth the price? How EVs compare with gas-powered vehicles
▼ + stars: | 2023-09-14 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

After credits and other costs, the upfront price of Tesla's Model Y is only about $100 more than the Audi Q5. At $29,135, the 2023 Leaf has a higher sticker price than the 2023 Sentra, which goes for $21,295, according to Edmunds. However, it would take nearly 12 years to make up the $10,000 difference in upfront costs when compared with the Sentra. Overall, that works out to an upfront cost of $49,130 — $4,335 more than the 330i. With annual cost savings of $1,675, Model 3 owners would cover the upfront price difference in just over two and a half years.

Persons: Edmunds, Kelley, Fueleconomy.gov Organizations: Tesla, Audi, Nissan Leaf, Nissan Sentra, ICE, Leaf, BMW Locations: Edmunds

The United States also offers tax credits of up to $7,500 for buyers of new electric cars, and several more for manufacturers of EVs and EV components. And each government views the support they provide as merely also doing "whatever it takes" to keep their own industries competitive. The mere threat of a probe into China's subsidies might actually be enough to slow the pace of imports from China while allowing sales of European cars to pick up further. Shares of major European car producers have heavily lagged U.S. and China EV rivalsIn that way, the EU Commissioner will have provided a valuable service to Europe's manufacturers without needing to actually dig too deeply into China's subsidy practices. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ursula von der Leyen, von der Leyen, Gavin Maguire, Josie Kao Organizations: EU Commission, European EV, European Union, EV, United, Volkswagen, BMW, Renault, China EV, Reuters, Thomson Locations: LITTLETON , Colorado, Europe, Beijing, European, United States, Germany, China, EU

VIRGINIA WATER, England (AP) — Europe’s 12 Ryder Cup players delivered a mixed bag of scores in the first round of the BMW PGA Championship. Of the Europeans heading to Rome for the Ryder Cup in two weeks, Matt Fitzpatrick (66), Ludvig Åberg (68) and Tyrrell Hatton (68) posted the best rounds at Wentworth. “I think we are all a little bit in the Ryder Cup mindset,” said No. Fitzpatrick, who went out with Robert MacIntyre and Justin Rose (both 72), played the best of the Ryder Cup squad after starting with four birdies in his first six holes. “I’ll start focusing on the Ryder Cup once Sunday finishes.”They are all chasing the 26-year-old Helligkilde, who is coming to the end of his second season on the European tour.

Persons: —, Marcus Helligkilde, Dane, Matt Fitzpatrick, Ludvig Åberg, Tyrrell Hatton, Nicolai Hojgaard, Luke Donald, Adrian Meronk, Rory McIlroy, Jon Rahm, ”, Viktor Hovland, Marco Simone, ” Hovland, McIlroy, Swede, Åberg, ” Åberg, “ Ludvig, “, Hovland, Donald, Shane Lowry, Tommy Fleetwood, Sepp Straka, Fitzpatrick, Robert MacIntyre, Justin Rose, Richie Ramsay, ” Fitzpatrick, birdies, Helligkilde Organizations: Ryder, BMW PGA, Wentworth Locations: VIRGINIA, England, Rome, “

☆ German carmaker stocks dip amid China-EV probe dispute
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Alternatively, punitive tariffs on imports from China could accelerate Chinese EV makers' plans to build in Europe, analysts said, raising competition for domestic carmakers. "Volkswagen could gain from lower mass-market competition, but is the most exposed ... premium OEMs ...face the risk of retaliation and might see their China-export plans sent awry," he added. By 1210 GMT, the STOXX Europe 600 Auto (.SXAP) index was down 1.46%, while the broader market was steady. BMW, which exports the iX3 from China and plans to export the Mini from 2024, fell 2.08%, with Mercedes-Benz down 1.56% and Volkswagen down 1.83%. Stocks of carmakers Renault and Stellantis, which are less exposed to the Chinese market than their German counterparts, saw smaller dips of 1.33% and 0.81% respectively.

Persons: Annegret, Emmanuel Macron, Daniel Roeska, Bernstein, Danilo Masoni, Victoria Waldersee, Josephine Mason, Thomas Leigh, Michel Rose, Sharon Singleton, David Holmes Organizations: REUTERS, EV, HK, European Commission, Renault, Volkswagen, BMW, Mercedes, Benz, Porsche, carmakers Renault, Thomson Locations: Berlin, Germany, Beijing, China, Europe, France

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

☆ VIEW Reactions to EU probe of Chinese electric cars imports
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +6 min

EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN"Global markets are now flooded with cheaper electric cars. "So I can announce today that the Commission is launching an anti-subsidy investigation into electric vehicles coming from China. UK TRADE MINISTER KEMI BADENOCH"I think it just highlights the difficulties that all countries are having with the supply chain for electric vehicles. "China's apparent advantage and cost-competitive imports are already impacting European auto makers' domestic market share, with a massive surge in electric vehicle imports in recent years. At the same time, the US Inflation Reduction Act (IRA) is also a game-changer in the electric vehicle value chain.

Persons: Annegret, URSULA VON DER, LAURENCE BOONE, BRUNO LE MAIRE, Von der, KEMI BADENOCH, MATTEO SALVINI, SIGRID DE VRIES, AIWAYS, ALEXANDER KLOSE, Aiways, KINGSMILL, they've, They've, STUART COLE, AJ BELL, DANNI HEWSON, Josephine Mason, Catherine Evans, Louise Heavens Organizations: REUTERS, European Commission, European Union, FRENCH FINANCE, EU, League, GENERAL, Volkswagen, BMW, Tesla, INSTITUTE SENIOR, CITI, Reuters, Thomson Locations: Berlin, Germany, China, Europe, Brussels

Brussels/London CNN —The European Union is launching an investigation into China’s state support for makers of electric vehicles as soaring imports of their cars stoke fears for the future of European auto manufacturers. “So I can announce today that the commission is launching an anti-subsidy investigation into electric vehicles coming from China.”Europe levies a duty of 10% on cars imported from China. That compares with duty of 27.5% in the United States, and China’s manufacturers have taken advantage to carve out a significant and rapidly growing foothold in the European market. And in the last five years, EU imports of Chinese cars have quadrupled. The European Commission investigation could lead to the imposition of tariffs on Chinese EV imports, and von der Leyen’s announcement rattled the stocks of China’s biggest EV companies listed in Hong Kong.

Persons: Ursula von der Leyen, “, ” von der Leyen, von der, Warren Buffett, Nio, Li Yunfei, Oliver Zipse, Luca de Meo, ”, Sigrid de Vries, Laura Organizations: London CNN, China Passenger Car Association, UBS, The, EV, European Automobile Manufacturers ’ Association, Senior, EU, Jato Dynamics, BMW, Renault, European Locations: Brussels, London, Europe, China, United States, Hong Kong

☆ Nick Faldo Is Home on the Range(s)
▼ + stars: | 2023-09-13 | by ( Michael Arkush | ) www.nytimes.com time to read: +1 min

For the first time since 2006, England’s Nick Faldo wasn’t in the booth this past season as the lead golf analyst for CBS. He was on the range — and not just the driving range. Faldo, 66, the only four-time winner of the BMW PGA Championship, which begins Thursday at the Wentworth Club in Surrey, England, discussed recently those victories and the game that has meant so much to him. I loved being with the guys, but I had enough of being out there every week. [Golf course] design work is going very well.

Persons: Nick Faldo wasn’t, They’ve, I’ve Organizations: CBS, BMW PGA, Wentworth Club Locations: Montana, Faldo, Surrey, England

☆ Mercedes-Benz's $100,000 electric SUV is an awesome Tesla rival — but its blob-like looks aren't for everyone
▼ + stars: | 2023-09-13 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

I drove Mercedes-Benz's new electric SUV: the EQE SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. AdvertisementAdvertisementThe 2023 Mercedes-Benz EQE 500 4MATIC SUV.

Persons: Mercedes, Tim Levin, I'm, anyone's, Elon Musk's, Tesla, iX, fanny, that's Organizations: Mercedes, Service, Benz, Subaru, BMW, Tesla's, EV Locations: Wall, Silicon, Stuttgart, Elon

[1/2] Logo of British Petrol BP is seen at a petrol station in Pienkow, Poland, June 8, 2022. BP plans to spend $55 billion to $65 billion on its new transition businesses between 2023 and 2030, when the sum will equal its investment in oil and gas. BP recently opened a new office in Hamburg which will oversee its offshore wind expansion. BP operates two refineries in Germany -- Lingen and Gelsenkirchen -- as well as Aral, Germany's largest petrol station network. Looney had defended the offshore wind bid, saying he expected strong demand for clean energy.

Persons: Kacper, Patrick Wendeler, Bernard Looney, Wendeler, Looney, Christoph Steitz, Ron Bousso, Alexandra Hudson Organizations: British, REUTERS, EV, BP, Reuters, Reuters Graphics BP, Volkswagen, BMW, Rivals, Shell, Reuters Graphics Reuters, Alexandra Hudson Our, Thomson Locations: Pienkow, Poland, FRANKFURT, LONDON, Germany, BP Europe, Hamburg, Lingen, Gelsenkirchen

☆ ABB invests $280 mln in new robotics factory in Sweden
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

The logo of ABB is seen at an office building in Zurich, Switzerland September 10, 2020. ABB, whose products range from industrial motors and drives, to chargers for electric vehicles, will build the new factory at its site in Vasteras, eastern Sweden. The new facility, due to open in 2026, will have 50% more production capacity than its old site and employ 1,300 people, ABB said. "The investment in our new campus is driven by customer demand and projected market growth," ABB CEO Björn Rosengren said in a statement. ABB said the European robotics and automation market is expected to grow by 7% per year between 2023 and the end of 2027, driven by companies bringing back production from Asia.

Persons: Arnd, Björn Rosengren, Joe Biden's, Sami Atiya, John Revill, Tomasz Janowski Organizations: ABB, REUTERS, Rights, Japan's Fanuc Corp, BMW, Scania, Volkswagen, Manufacturers, European Union, ABB’s Robotics, Thomson Locations: Zurich, Switzerland, Sweden, Swiss, Asia, Vasteras, European, United States, Washington, Beijing

☆ 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

Petrol vehicles have been the top sellers in recent years - increasing their market share to around 68.4% in January-July 2023 from 42.5% in 2014, according to data from automotive market intelligence provider JATO Dynamics. Cost-conscious Indians are preferring to buy petrol cars as they are cheaper than diesel, even though diesel cars offer better fuel efficiency. DIESEL VEHICLES:Tuesday's warning from minister Nitin Gadkari targeted diesel carmakers, whose market share has seen a steady decline to nearly 18% of passenger vehicles in January-July this year from 47.9% in 2014. But when it comes to luxury cars, diesel variants remain in vogue, with their market share rising to 33% so far this year from 31% in 2021. Among automakers, Mahindra and Mahindra (MAHM.NS) has the highest diesel car market share with 47% of unit sales so far this year, up from 28% in 2021.

Persons: Maruti Suzuki, Nitin, Tesla, Aditi Shah, Aditya Kalra, Mark Potter Organizations: Maruti, Tata Motors, Volkswagen, Society of Indian Automobile Manufacturers, JATO Dynamics, Mercedes, BMW, Audi, Mahindra, Hyundai, Kia, Thomson Locations: MUMBAI, China, United States, India

Search resuls for: "BMW"

25 mentions found