Automobile
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Honda to double investment in its electric vehicle strategy to $65 billion by 2030
May 17, 2024Japanese auto giant Honda said Thursday it will double investment in its electric vehicle strategy to $65 billion by 2030. “Honda is planning to invest approximately 10 trillion yen in resources… through 2030, when the period... -
Volkswagen and car owners in Italy reached an agreement worth more than 50 million euros to end a legal battle over the “dieselgate” emissions scandal
May 15, 2024Volkswagen and a group representing car owners in Italy have reached an agreement worth more than 50 million euros ($54 million) to end a legal battle over the “dieselgate” emissions scandal, they said on Wednesday. In... -
Nio launched the first vehicle in its new lower-priced brand Onvo aims to compete with Tesla
May 15, 2024Chinese electric vehicle maker Nio on Wednesday launched the first vehicle in its new lower-priced brand Onvo which aims to compete there with Tesla’s Model Y, the world’s best-selling EV. Nio unveiled the Onvo L60 SUV... -
Accelera, Daimler and PACCAR formed a joint venture to advance battery cell production in the United States
May 15, 2024Accelera, a zero-emissions business unit of Cummins, Daimler Trucks & Buses US Holding and PACCAR said on Wednesday they formed a joint venture to advance battery cell production in the United States. Demand for lithium-iron-phosphate (LFP)... -
Chinese automaker BYD unveiled mid-size hybrid-electric pickup truck, Shark, in Mexico
May 15, 2024Chinese automaker BYD unveiled the Shark, a mid-size hybrid-electric pickup truck, in Mexico on Tuesday, as its regional chief brushed off new U.S. tariff hikes on Chinese EVs, saying the company was not eyeing an entry... -
Tesla to lay off an additional 601 employees in California
May 15, 2024Tesla plans to lay off an additional 601 employees in California, it said in a notice to the state government, as the automaker undertakes a series of job cuts globally that began a month ago amid... -
Xiaomi becomes China’s eighth-largest EV upstart after selling more than 7,000 units of its first model
May 15, 2024Chinese smartphone maker Xiaomi has become the country’s eighth-largest electric vehicle upstart after selling more than 7,000 units of its first model, the SU7 sedan, in April, according to industry data. Xiaomi’s strong entry into China’s... -
Car giants vie for EV crown at Beijing’s Auto China show
Apr 26, 2024Chinese automakers engaged in a brutal pricing battle arrive in the nation’s capital on Thursday to kick off the Auto China show, hoping to grab attention and customers in the largest electric vehicle market globally as... -
General Motors posted quarterly results that topped Wall Street targets and raised its annual forecast
Apr 24, 2024General Motors on Tuesday posted quarterly results that topped Wall Street targets and raised its annual forecast, citing stable pricing and demand for its gas-engine vehicles, sending shares up 5%.The Michigan automaker upped its adjusted pre-tax... -
Shares of Tesla gained ahead of the electric car maker’s Q1 results
Apr 24, 2024Shares of Tesla gained on Tuesday ahead of the electric car maker’s first-quarter results, with analysts expecting its lowest gross profit margin in more than six years due to price cuts and slowing demand.The stock rose...
