Financial terms were not disclosed for the deal, announced Monday and expected to close by the third quarter.
Source: autonews.com
India may become dumping ground for chinese EVs amid western tariff hikes: GTRI
By: HT Auto Desk | Updated on: 16 May 2024, 18:05 PM Share via: <!--The United States and the European Union have significantly raised tariffs on Chinese EVs and batteries, with the US imposing nearly 100 per cent duties. As a result, India could find itself inundated with Chinese electric vehicles (EVs) and batteries, according to GTRI.--> The United States and the … [Read More...]
Honda 'steadily and surely moving ahead' on EVs, announces large investment
TOKYO — Japanese automaker Honda reaffirmed its commitment to electric vehicles Thursday, saying it will invest 10 trillion yen ($65 billion) through fiscal 2031 to deliver EV models around the world, including the U.S. and China. “Honda has not changed its belief that EVs are the most effective solution in the area of small mobility products such as motorcycles and automobiles,” the Tokyo-based … [Read More...]
Ford issues 'call to action' for EV suppliers
Ford's memo offers a look into how heavily the automaker is leaning on suppliers for help with EVs. It comes even as many of those suppliers grapple with dramatically lower volumes and production delays. Source: autonews.com … [Read More...]
Hybrids replace EVs on industry's center stage
Consumer preferences shift to hybrids and plug-in hybrids as interest in fully electric vehicles cools. Source: autonews.com … [Read More...]
Swedish court rejects Tesla appeal in license plate case
Labor unions have, among other things, prevented Tesla from importing cars via Swedish ports, and have launched a postal blockade to make access to license plates for new vehicles more difficult. Source: autonews.com … [Read More...]
Tesla’s Largest Single Investor Shares Proof He Voted Against Reinstating Elon Musk’s $56 Billion Compensation Package—Debate Ensues Whether Musk Could Leave Tesla & Take With Him the Entire AI & FSD Team
Follow us today... In 2018, Tesla shareholders voted by a supermajority to award Elon Musk the biggest CEO compensation package in history. Although enormous, Elon Musk's compensation package is not without conditions. The CEO award is entirely performance-based and intricately tied to Tesla's stock price and financial performance. Musk could serve Tesla for free if … [Read More...]
The 2025 Bentley Continental GT Will Have 771 Horsepower
The more powerful new GT will come with a plug-in-hybrid powertrain, plus four-wheel steering, all-wheel drive, and torque vectoring. Source: caranddriver.com … [Read More...]
Toyota tests new EV pickup truck ahead of mass production in Thailand
BANGKOK, (Reuters) – Toyota Motor is testing the new battery-electric Hilux pickup truck to assess its performance in different conditions as the car maker prepares to manufacture the vehicle in Thailand by the end of 2025, an executive said on Thursday. Pickup trucks make up more than half of total vehicle sales in Thailand, a critical market for Toyota that has been flooded by a wave of Chinese … [Read More...]
Japan’s Honda raises electrification investment to $65 bln through FY2030
TOKYO, (Reuters) – Japan’s Honda Motor pledged to double its electrification and software investment to about $65 billion over the 10 years running through the 2030 business year, it said on Thursday. Honda CEO Toshihiro Mibe told a press conference the automaker planned to spend a total of 10 trillion yen ($64.88 billion) on electrification and software over the period, doubling the amount it had … [Read More...]
Mahindra to go heavy on electrification, announces ₹120 billion investment
By: Reuters | Updated on: 16 May 2024, 16:29 PM Share via: MAHINDRA-RESULTS:India's Mahindra to invest $1.44 billion in EV unit, SUV sales propel Q4 profit beat <div class="imgWrapper" data-item-event="image_clicked" data-ga-widget="Image Interactions" … [Read More...]