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☆ Mercedes applies for tax relief for projects at two U.S. plants
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsCompanies Mercedes Benz Group AG FollowBERLIN, Sept 25 (Reuters) - German carmaker Mercedes-Benz (MBGn.DE) has applied for tax breaks for potential projects at two of its U.S. plants under the Inflation Reduction Act (IRA), a company spokesperson said on Monday. "We have decided to participate in the application process for production-related tax relief" under the IRA for the plants in Alabama and South Carolina, according to the spokesperson. A final decision is expected later this year or early next year, Handelsblatt reported. Mercedes did not want to comment on the production plan for the electric GLS. Reporting by Ilona Wissenbach, Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, Mercedes, Handelsblatt, Ilona Wissenbach, Miranda Murray, Friederike Heine Our Organizations: Benz, REUTERS, Companies Mercedes Benz Group, Thomson Locations: Woodstock , Alabama, U.S, Alabama, South Carolina, United States

☆ UAW workers strike at Mercedes supplier ZF's plant in Alabama
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Striking United Auto Workers members picket outside the Stellantis Jeep plant, in Toledo, Ohio, U.S. September 19, 2023. REUTERS/Rebecca Cook Acquire Licensing RightsSept 20 (Reuters) - The United Auto Workers (UAW) union said on Wednesday that 190 workers went on strike at Mercedes-supplier ZF's plant in Alabama, demanding higher pay and better healthcare benefits. The workers are also seeking an end to the tier system of wages, under which older employees get higher pay than newer workers for the same job. ZF, which makes front axles used by Mercedes, said the plant in Tuscaloosa would operate while talks with the union continue. UAW members are also on a separate strike at three plants operated by the Detroit Three automakers - Ford Motor (F.N), General Motors (GM.N) and Stellantis (STLAM.MI) - demanding better contracts from the companies.

Persons: Rebecca Cook, Mercedes, Mercedes Benz, Abhinav Parmar, Arun Koyyur Organizations: United Auto Workers, REUTERS, UAW, Mercedes, Detroit Three, Ford, General Motors, Thomson Locations: Toledo , Ohio, U.S, Alabama, Tuscaloosa, Bengaluru

☆ Tim Scott and Nikki Haley attack unions as UAW strike threatens to escalate ahead of GOP debate
▼ + stars: | 2023-09-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Several Republican presidential candidates have gone on the attack against unions in response to the United Auto Workers' strike, despite strong support for organized labor among the American public. Sen. Tim Scott on Monday said striking workers should be fired, saying he would emulate President Ronald Reagan who terminated more than 11,000 striking air traffic controllers in 1981. Haley said President Joe Biden had "emboldened" the UAW by proclaiming he is the "most pro-union president in American history." The UAW strike also enjoys solid support with 54% of U.S. adults approving the work stoppage, according to a Morning Consult poll. The autoworkers strike could escalate ahead of the Republican primary debate next week at the Ronald Reagan Presidential Library in Simi Valley, California.

Persons: Sen, Tim Scott, Monday, Ronald Reagan, Scott, Nikki Haley, Mercedes, Haley, Joe Biden Organizations: Republican, United Auto Workers, GOP, Palmetto State, Mercedes Benz, Volvo, Fox News, UAW, Ronald Reagan Presidential Locations: South Carolina, Fort Dodge , Iowa, U.S, Simi Valley , California

☆ EV charging needs big improvements soon if the auto industry's transition is going to work
▼ + stars: | 2023-09-19 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +11 min

Simply put, America's patchwork of CCS chargers offers spotty coverage, hard-to-use devices, and, too often, chargers that are broken. Not to mention, there are fewer than 12,000 CCS fast chargers across the U.S. today. Opening up the Tesla charging network to our customers, that's about them and it scales very quickly for them. watch nowThe broad uptake of Tesla's charging tech is generally good news. What's more, Tesla's chargers all work the same way, whereas CCS chargers from rival companies may have very different procedures.

Persons: Mark Blinch, Reuters There's, General Motors, it's, Joe Biden, Tesla, Justin Sullivan, JD Power, Brent Gruber, Ford, John Lawler, Lawler, We're, Elon Musk, EVgo Organizations: Benz, Canadian, Reuters, Ford Motor, General, Volkswagen, Cox Automotive, Consumer, Energy, Institute, University of Chicago, Associated Press, NORC, for Public Affairs Research, United Auto Workers, EV, Public, U.S . Department of Energy, —, Detroit, CCS, University of California, JD, Ford EV, Ford, GM, Volvo, Mercedes, SAE International, ABB Locations: Toronto , Ontario, Canada, U.S, San Rafael , California, Berkeley, Bay, Swiss

☆ Lionel Messi: Even when Inter Miami start doesn’t play he’s still star of the show MLS
▼ + stars: | 2023-09-18 | by ( Don Riddell | ) edition.cnn.com time to read: +7 min

Like, wait, did he not travel to Atlanta?” added Trivedi, referring to Atlanta United’s Major League Soccer (MLS) game against Inter Miami on Saturday. “I feel bad,” Galdamez told CNN. Seeing him would have made the money worth it, because he’s like a God!” Rohan Jhanjee told CNN. “We’re thankful for the fact that he’s here in the US,” Lacey Hunt told CNN. They must also hope that his absence from a crucial league game wasn’t too costly.

Persons: Lionel Messi’s, Rishi Trivedi, ”, Trivedi, “, he’s, Jenil Patel, Gonzalo Pineda, ” Lionel Messi, Megan Briggs, Messi, Mercedes, they’d, Angel Galdamez, ” Galdamez, Irma Lopez, Hector Vivas, It’s, it’s, he’d, we’d, Rohan Jhanjee, Leonardo DiCaprio, Prince Harry, Selena Gomez, “ We’re, ” Lacey Hunt, Brad Penner, he’ll, Miami’s Organizations: CNN, CNN Sport, Atlanta United’s Major League Soccer, Inter Miami, Inter, Atlanta, Inter Miami CF, Florida Blue Training, Getty, MLS, Atlanta United, United, Miami, Leagues Cup, Sporting Kansas City, Leagues, Orlando City SC, Messi, New York Red Bulls, Red Bull Arena, USA, Network, Reuters, Houston, Eastern Conference Locations: Argentine, Miami, Atlanta, Fort Lauderdale , Florida, United States, Argentina, North America

☆ Mercedes-Benz threatened with recalls of Euro 6 cars over defeat devices
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

The logo of Mercedes-Benz is seen outside a Mercedes-Benz car dealer in Brussels, Belgium June 1, 2023. In the letter published on DUH's website, the KBA referred to three devices found in cars produced under the Euro 6 standard, the most recent and stringent limits for harmful tailpipe emissions from petrol or diesel-powered vehicles. Mercedes-Benz was obliged to take remedial measures or face an order to remove the cars from the road, it said, based on a ruling by the European Court of Justice that deemed such devices illegal in certain driving conditions. In a statement, Mercedes-Benz said it was co-operating fully with the KBA and that it believed it had already developed the technology required to tackle the issue via software updates. Reporting by Victoria Waldersee; Editing by Rachel More and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, Benz, carmaker, Victoria Waldersee, Rachel More, Clarence Fernandez Organizations: Mercedes, Benz, REUTERS, Companies Mercedes Benz Group, Deutsche, European Court of Justice, Thomson Locations: Brussels, Belgium

☆ 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

☆ German engineering production to fall further in 2024- VDMA association
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsBERLIN, Sept 12 (Reuters) - Germany's engineering association (VDMA) expects production in the sector to extend its decline next year, falling 2% dragged by weak orders domestically and abroad, its Chief Economist Ralph Wiechers said. Wiechers confirmed VDMA production forecast for 2023 of a 2% drop, adding that losses in the second half of the year would eat up the 1.7% growth recorded in the first six months. "2024 will be a kind of transition year," Wiechers told Reuters. German exports to China grew by 4.4% in the first half of the year but growth was still significantly less than in the United States where sales rose by 21.6%. Reporting by Tom Kaeckenhoff; Writing by Riham Alkousaa; Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Kuka, Mercedes Benz, Kai Pfaffenbach, Ralph Wiechers, Wiechers, Tom Kaeckenhoff, Riham Alkousaa, Tomasz Janowski Organizations: Daimler, REUTERS, Rights, Reuters, Thomson Locations: Rastatt, Germany, Ukraine, China, United States

☆ The world’s biggest national park is larger than most countries
▼ + stars: | 2023-09-12 | by ( Joe Yogerst | ) edition.cnn.com time to read: +8 min

Sagarmatha National Park in Nepal safeguards the southern slopes of Mt Everest, the world’s highest peak at 8,849 meters (29,032 feet). Venezuela’s Canaima National Park is home to Angel Falls, the world’s tallest waterfall at 979 meters (3,212 feet). Larger than Delaware and roughly the same size as Wales, Yellowstone was considered huge when it became the world’s first national park in 1872. North AmericaSprawling across nearly half of the world’s largest island, Northeast Greenland National Park is currently the globe’s single largest national park and biggest land-based protected area. Imaginechina Limited/Alamy Stock PhotoDespite being the largest continent, Asia has fallen behind in the race for the world’s largest national parks.

Persons: Venezuela’s, there’s, ”, Mette Pike Barselajsen, Mercedes, China’s, Martin Harvey, Naukluft, it’s, Claire Christian Organizations: CNN, National, United Nations, Nanu, South America, Colombia Oculta, Simpson, Mercedes Benz G, Imaginechina, Bank, Getty, Conservation, Antarctic & Southern Ocean Coalition, Antarctic Locations: Nepal, Mt, Angel Falls, Angkor, Cambodia, Delaware, Wales, Yellowstone, North America, Greenland, Ittoqqortoormiit, “, East Greenland, South, Patagonia, Colombia, Australia, South Australia, Asia, Qinghai Province, Europe, Africa, Africa’s, Zambia, Zimbabwe, Mozambique, Angola, Namibia, Antarctica

☆ Global automakers scramble to reset China strategies as sales slow
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +6 min

Global automakers, who for years have dominated the market along with their Chinese state-run partners, have been slow to pivot to the fast-growing market for EVs with competitive offerings. "This major collaboration between Volkswagen and Xpeng is a milestone for our electrification strategy 'in China for China'," said Ralf Brandstatter, a VW board member on his social media account. Their deeper pockets give established foreign automakers who are determined to fight for share in China, the ability to play a long game. Kia (000270.KS) is to enter China's EV market with its first EV, the EV6 crossover, via imports in August. "The German brands benefit from significant global scale," said He Lei, CEO of Chinese EV trading platform xChuxing.

Persons: Aly, Yale Zhang, Ralf Brandstatter, We've, Mary Barra, Tu Le, Yang Honghai, Kia, Mercedes Benz, Volkswagen's Audi, Lei, It's, Bill Russo, Automobility, Zhang Yan, Brenda Goh, Kevin Krolicki Organizations: Audi, Volkswagen, Auto, REUTERS, General Motors, Toyota, China Association of Automobile Manufacturers, Global, BMW, Mitsubishi, Automotive Foresight, GM, Reuters Graphics Volkswagen, BYD, China's Xpeng, HK, SAIC, VW, Buick, Chevrolet, Cadillac, CHINA EV INC, Tesla, China EV Inc, Volkswagen's, EV, Mitsubishi Motors, Nissan, Ford, Renault, Thomson Locations: Auto Shanghai, Shanghai, China, SHANGHAI, CHINA, Kia China, KS

Tesla, which accounted for more than 60% of U.S. EV sales last year, has the largest network of fast-chargers with almost 18,000 Superchargers. Tesla said earlier this year it would open part of that charging network to EVs from rivals in order to be eligible for a share of funding from $7.5 billion in federal subsidies. The new charging company will support both charging standards but will compete with Tesla's network. CEOs of the seven auto brands said a charging network built out like gas stations with restrooms, food service and retail operations would support a faster EV rollout. Automakers, however, lack the necessary electricians or experience working with retailers, said Andres Pinter, co-CEO at installation and maintenance company Bullet EV Charging Solutions.

Persons: Tesla, Mercedes Benz, Akshay Singh, Karine Jean, Pierre said, Biden, TESLA, Carlos Tavares, Steve Marcus, –, Andres Pinter, Andre Barlow, Doyle Barlow, Mazard, Abhirup Roy, Jarrett renshaw, Kevin Krolicki, Ben Klayman, Paul Lienert, Diane Bartz, Chizu Nomiyama, Bernadette Baum, Marguerita Choy Organizations: General Motors, Hyundai Motor, Kia, Honda, BMW, EV, Tesla, Industry, White House, U.S, REUTERS, GM, Hyundai, BMW –, American, Solutions, VW, Daimler, Ford, Justice, Justice Department, White, Thomson Locations: U.S, North America, Las Vegas , Nevada, America, Europe, San Francisco, Washington

☆ In challenge to Tesla, major automakers launch EV charging network
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +3 min

July 26 (Reuters) - A group of major automakers on Wednesday said they were forming a new company to provide electric vehicle charging in the United States in a challenge to Tesla and a bid to take advantage of Biden administration subsidies. Tesla (TSLA.O), which accounted for more than 60% of U.S. EV sales last year, has the largest current network of fast-chargers with almost 18,000 Superchargers in the United States. The new charging company will support both CCS and the Tesla standard. “A strong charging network should be available for all – under the same conditions – and be built together with a win-win spirit,” Stellantis CEO Carlos Tavares said in a statement. The new company would compete against established EV charging companies, including Volkswagen's (VOWG_p.DE) Electrify America, ChargePoint (CHPT.N) and EVGo (EVGO.O), which are also looking to accelerate the rollout of chargers with federal funding.

Persons: Tesla, Mercedes Benz, Tesla’s, –, ”, Carlos Tavares, Biden, Kevin Krolicki, Ben Klayman, Chizu Organizations: General Motors, Hyundai Motor, Kia, Honda, BMW, EV, Tesla, U.S, Hyundai, BMW –, American, CCS, Thomson Locations: United States, U.S, North America, America

☆ China's Huawei says it earned patent revenues of $560 million last year
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

SHENZHEN, China, July 13 (Reuters) - Chinese tech giant Huawei Technologies(HWT.UL) received $560 million in royalty revenues in 2022, Alan Fan, its head of intellectual property (IP), said on Thursday in a speech at company headquarters in the city of Shenzhen. Huawei earned more than it paid out in royalties over the last two years as the decline in handset sales meant it needed to pay less to other IP holders, Fan said. The company has entered into patent licenses with phone makers Samsung and Oppo and automakers including Audi, Mercedes Benz, BMW, Porsche, Subaru, Lamborghini and Bentley, Huawei said. Last year, Huawei spent $23 billion on research and development, with 114,000 staff, 55% of its total, working on research, the company said. From 2019, rounds of U.S restrictions after authorities there called the company a security risk reduced its access to chipmaking tools.

Persons: Alan Fan, Fan, Mercedes Benz, David Kirton Organizations: Huawei Technologies, Huawei, Samsung, Oppo, Audi, BMW, Porsche, Subaru, Lamborghini, Bentley, Thomson Locations: SHENZHEN, China, Shenzhen

☆ Mercedes sales rise in Q2 on top-end, electric vehicles
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

Companies Mercedes Benz Group AG FollowBERLIN, July 11 (Reuters) - Mercedes-Benz Group (MBGn.DE) sales in the second quarter rose 6% year-on-year - a total of 515,700 vehicles - on the back of demand for all-electric and top-end vehicles, the German carmaker said on Tuesday. Sales grew in all the carmaker's main regions - Europe, Asia and North America - with deliveries in Germany up 23%, while China was up by 12% and the United States by 6%. In the rest of the world, second-quarter sales fell 12% to 20,700 vehicles. Electric vehicles conitnued to be the main growth driver in the quarter, with passenger cars sales growing 123%, to reach 56,300 units. The top-end segment - which includes models such as AMG, Maybach and G-class - also posted solid growth of 12% for the period.

Persons: carmaker, Miranda Murray, Friederike Heine Our Organizations: Mercedes Benz Group, BERLIN, Benz Group, ., Maybach, Thomson Locations: Europe, Asia, North America, Germany, China, United States

☆ Mercedes-Benz beats Tesla for California's approval of automated driving tech
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: +1 min

The steering wheel in a moving Mercedes EQS 580 4Matic, when using the Drive Pilot, a technology of Mercedes Benz AG for autonomous driving. The California Department of Motor Vehicles on Thursday approved Mercedes-Benz 's automated driving system on designated highways under certain conditions without the active control of a driver. But the German carmaker beat Tesla to become the first carmaker to receive authorization to sell or lease cars with an automated driving system to the public in California. The 'DRIVE PILOT' system can only operate on highways during daylight at speeds not exceeding 40 miles per hour, the DMV said. Earlier this year, Mercedes-Benz also received an approval to deploy advanced automated driving systems on Nevada's roads.

Persons: Tesla Organizations: Mercedes, Mercedes Benz AG, The California Department of Motor Vehicles, Benz, DMV, Motors Locations: California, Bay Area, Central Valley, Los Angeles , Sacramento, San Diego, Southern California, Nevada

☆ Mercedes won't join Renault's new electric van project-sources
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 2 (Reuters) - Mercedes Benz Group (MBGn.DE), a longtime partner of Renault (RENA.PA) in vans, won't take part in the French company's FlexEvan electric project and will focus instead on its own premium electric vehicle VAN.EA, two sources with knowledge of the matter said. A spokeswoman of Mercedes confirmed that the group had no plan to launch a mid-sized van or a large one on a different platform than VAN.EA. Renault has long sought to expand its cooperation in vans with Mercedes, but in vain. "It is true that for light commercial vehicles, the bulk (of the cooperation with Mercedes) has been done", one of the sources said. Reporting by Gilles Guilaume; Editing by Silvia Aloisi and David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: FlexEvan, Mercedes, Luca de Meo, Carlos Ghosn, Gilles Guilaume, Silvia Aloisi, David Holmes Organizations: Mercedes Benz Group, Renault, Nissan, Renault Trucks, Sweden's Volvo, Mercedes, Daimler, Thomson Locations: U.S

☆ Factbox: Companies invest in EV battery factories in Europe
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +6 min

Below are recent investments announced by companies:GERMANYSweden's Northvolt said on May 13 it will invest 3-5 billion euros ($3.3-5.5 billion) in an EV battery plant in Heide in the northern state of Schleswig-Holstein as long as subsidies are approved. Volkswagen (VOWG_p.DE) plans to build six battery factories in Europe totalling 240 gigawatt (GWh) of capacity by 2030. Production at its first battery plant, "SalzGiga", in Salzgitter in the Lower Saxony region will start in 2025. Slovakian battery manufacturer InoBat said last October it had signed a declaration of intent with the Spanish government to set up an EV battery factory in central Spain's city Valladolid, expected to cost 3 billion euros. POLANDLG Chem EV battery in Wroclaw started production in the second half of 2017, with a capacity of 100,000 batteries per year.

Persons: Helena Soderpalm, GERMANY Sweden's Northvolt, China's CATL, Germany's, Mercedes Benz, Elon Musk, Berclau, Taiwan's ProLogium, Jean, Luc Monfort, Mata, BASQUEVOLT, InoBat, China's BYD, AEHRA, Poland's, Alessandro Parodi, Tiago Brandao, Matteo Allievi, Barbara Lewis, Milla Nissi Organizations: REUTERS, Volkswagen, EV, Germany's BASF, Automotive Cells Company, ACC, Stellantis, Tesla, FRANCE Joint, France, Renault, Basque Country, Spanish, India's Tata Group, ITALY Joint, POLAND LG, European Commission, SWEDEN Northvolt's Skelleftea, Thomson Locations: Vasteras, Sweden, Europe, Asia, United States, GERMANY, Heide, Schleswig, Holstein, Salzgitter, Lower Saxony, China, Erfurt, Thuringia, Schwarzheide, Brandenburg ., Ludwigsfelde, Berlin, Kaiserslautern, Rhineland, Palatinate, Gigafactory, FRANCE, Billy, France, Dunkirk, Douai, Ruitz, Ergué, Quimper, Montreal, SPAIN Spain, Europe's, Germany, Navalmoral de, Extremadura, Sagunto, Valencia, Spain, Basque, Slovakian, Spain's, Valladolid, Britain, ITALY, Termoli, POLAND, Wroclaw, HUNGARY

☆ The business case for green sports stadiums and arenas is growing
▼ + stars: | 2023-04-29 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

A general exterior view of Climate Pledge Arena before the game between the Seattle Kraken and the Carolina Hurricanes on October 17, 2022. Much like the broader world of commercial real estate, arenas, and stadiums have been slowly adopting sustainable practices over the last few decades, from recycling programs to energy efficiency efforts. That led to what has become the Climate Pledge Arena. AMBSE has even created a "playbook" for other stadium operators to follow if they also want to get to zero waste. It's reached a level of critical mass where people have moved past greenwashing, and they're making substantive changes to their business practices," Cannon said.

☆ Mercedes-Benz reports Q1 adjusted return on sales of 14.8%
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

Companies Mercedes Benz Group AG FollowBERLIN, April 20 (Reuters) - Mercedes-Benz on Thursday posted first-quarter group adjusted return on sales of 14.8%, above market expectations, boosted by higher prices and strong demand. "Mercedes-Benz Cars delivered an adjusted return on sales of 14.8%, due to healthy net pricing, higher sales and a good product mix," the carmaker said in a statement. Analysts expected an average adjusted return on sales of 13.4%. First-quarter group earnings before interest and taxes rose to 5.5 billion euros and adjusted return and industrial free cash flow was at 2.2 billion euros. Adjusted return on sales of the vans division rose to 15.6% due to improved net pricing and higher sales, the company added.

☆ China's Zeekr launches electric SUV, targets Europe
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Zoey ZhangCHENGDU, China, April 12 (Reuters) - Chinese electric vehicle maker Zeekr on Wednesday launched a compact, all-electric sport utility vehicle, as it targeted a premium market in China that has been dominated by German automakers. The Geely-owned [RIC:RIC:GEELY.UL] brand said it also planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Western Europe without saying when that would be. The company will start delivering the Zeekr X in China from June with a target of delivering 40,000 this year, An said. After Europe, Zeekr will target Asian markets outside China, An said without providing details. It sold 15,234 of its two existing models - the 001 sedan and the 009 multi-purpose vehicle - in the first quarter, accounting for just 2% of China's battery electric vehicle sales.

☆ Financial experts share their greatest money regrets — all have one thing in common
▼ + stars: | 2023-04-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Here, CNBC Financial Advisor Council members share their greatest money mishaps, and what they do differently now. "For my first five years in financial planning, I made the same amount of money." Money mistake: Leasing 'too much' carThianchai Sitthikongsak | Moment | Getty Images"My biggest money mistake was back when I was working at Smith Barney as an early financial advisor," said Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, based in Irvine, California. So, Sun, a member of the CNBC Financial Advisor Council, splurged on her dream car. Money mistake: Unloading inherited stock "My wife had inherited shares of Phillip Morris stock from her father," said Lee Baker, a CFP based in Atlanta.

☆ China's BYD bets on self-developed chassis suspension system
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, April 10 (Reuters) - China's BYD launched on Monday a new chassis suspension system as the electric vehicle maker ramps up efforts to move upmarket with premium products. The system, BYD DiSus Intelligent Body Control System, is similar to the chassis suspension systems available in premium and luxury cars, such as Porsche's Dynamic Chassis Control and Mercedes Benz's Magic Body Control. The DiSus system will come in three variations and will be used in BYD's luxury off-road SUV Yangwang U8 initially, BYD said in a statement. BYD launched its first luxury car brand Yangwang in January with an off-road SUV and a sportscar priced above 1 million yuan. BYD has benefited from its strategy to use self-developed batteries and powertrain systems.

☆ EU car data access rules in progress but no timeline
▼ + stars: | 2023-04-03 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

Data ownership, however, is not clearly defined in EU law, resulting in the current dispute between carmakers and those who want to access it. "The Commission is working on the preparation of a sector-specific proposal on in-vehicle data. It will aim to complement the proposal for a Data Act, published in February 2022," a spokesperson for the EU executive told Reuters in an email. "At this stage we cannot prejudge the content of the final impact assessment and subsequent timeline for adoption." ($1 = 0.9188 euros)Reporting by Foo Yun Chee; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Car services groups warn of unfair competition as EU data plan stalls
▼ + stars: | 2023-03-31 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, March 31 (Reuters) - Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from U.S. and Chinese tech companies. Car services groups are already concerned about the small number of players in the industry with access to the data, said Benjamin Krieger, secretary general of the European Association of Automotive Suppliers (CLEPA). Unfair access could soon mean the sector "will be dominated by players from the United States and China", he told reporters. Car makers in turn said the Commission's proposed Data Act gives users control over data generated by vehicles, providing third parties fair and non-discriminatory access to the data. Last month, Mercedes Benz (MBGn.DE) teamed up with Google to offer traffic information and automatic rerouting in its cars.

☆ Faraday Future starts EV production of FF 91 after months-long delay
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Faraday Future Intelligent Electric Inc (FFIE.O) said on Wednesday it has started production of its much-delayed first luxury electric car, FF 91 Futurist, at its California factory. "This shows that FF has entered a new phase under the governance and operation of the new board and management," founder YT Jia said in a statement. The FF 91 Futurist is expected to be offered in both the U.S. and China markets, with initial 2023 sales to begin in Los Angeles, San Francisco, New York, Shanghai and Beijing, the company said. Deliveries in the U.S. will begin at the end of April 2023, a spokesperson for Faraday Future told Reuters, but did not give details on who the first customers would be. Reporting by Yana Gaur and Jyoti Narayan in Bengaluru; Editing by Sherry Jacob-Phillips and Uttaresh VenkateshwaranOur Standards: The Thomson Reuters Trust Principles.

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