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Volkswagen Gets Reality Check After Tesla's Week Of Milestones
Tesla shares surged as much as 14.9% to $1,045.02, making it the world's most valuable automaker according to Reuters calculations based on its latest filing.
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VW Labour Boss Wants Faster Electric Car Rollout At Wolfsburg
Under its Trinity project, VW has been developing a flagship electric sedan to be built at Wolfsburg from 2026.
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Spanish Ride-Hailing App Cabify Bets On Grocery Delivery Amid E-Commerce Boom
Cabify, which also offers e-scooter hire and electric moped rental, did not provide financial projections for the new venture but said it would help avoid unnecessary trips, cut emissions and allow for a more efficient use of resources.
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Ford JV Partner SK Sees U.S. Battery Shortage Persisting Until 2025
Tight supplies of batteries pose a challenge to the Biden administration, which aims to boost EV production and reduce the country's reliance on imports for battery cells, components and materials.
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Oil Settles Down But Off 2-Week Low; Supply Concerns In Focus
U.S. crude stocks rose by 4.3 million barrels last week, the U.S. Energy Department said on Wednesday, more than double the 1.9 million-barrel gain forecast by analysts.
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Oil Drops More Than 1% As U.S. Stockpiles Rise Sharply
Crude oil inventories rose by 4.3 million barrels last week, according to the U.S. Energy Department, more than the expected 1.9 million-barrel gain.
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India September Crude Imports Hit 5-Month High As Business Activity Pick-Up
Crude oil imports rose 16% to 17.61 million tonnes from a year earlier, according to data on the website of the Petroleum Planning and Analysis Cell.
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Ford, GM Juggle High Prices, Supply Chain Pressure In Tesla's Shadow
The results Ford and GM reported on Wednesday show managing the supply chain pressure will not be easy, and that investors are watching the companies closely and critically.
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Europe's Top Carmakers Count Mounting Cost Of Chip Crunch
Volkswagen AG cut its outlook for deliveries, toned down sales expectations and warned of cost cuts as it reported lower-than-expected quarterly operating profit.
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Toyota Eyes Cost Cuts, Scale With First Of EV-Only bZ Series
The model would also initially be built on a mixed line with gasoline-engine cars, both in Japan and China. It will be sold in Japan, North America, China and Europe starting in mid-2022.
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Taiwanese Battery Maker ProLogium Likely Valued At $2-$3 Billion In New Funding Round
The company plans to use the capital to expand its mass production of solid-state lithium batteries in Asia, Europe and the United States between 2023 and 2025.
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Panasonic Raises Profit Outlook 12% On Share Valuation Gain
Panasonic raised its profit forecast for the year to March 31 to 370 billion yen ($3.25 billion) from 330 billion yen.
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Volvo Cars Hopes Downsized IPO Can Rev Up Investors' Electric Dreams
The listing comes at a time when investor appetite for the electric vehicle (EV) sector is robust, with Elon Musk's Tesla seeing its market value cross $1 trillion for the first time this week.
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STMicro Expects High Chip Demand To Extend Well Into 2022
STMicroelectronics expects high demand for the group's wide range of semiconductors to extend well into 2022.
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Japan's Factory Output Hit By Supply Snags As Outlook Darkens
Seven out of eight Japanese automakers are seeing global output drop in September, as the global parts and chip shortage weighed on the sector.
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Bosch To Invest More Than 400 Million Euro In Chip Production
The largest part of Bosch's budget will be spent on a faster expansion of its Dresden, Germany factory for 300-millimeter wafers, which the group inaugurated in June.
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Chinese Electric Vehicle Maker BYD's Third-Quarter Profit Drops 27.5%
The Shenzhen-based car company sold 452,744 vehicles in the first nine months this year, 63% higher from a year earlier, thanks to popular plug-in hybrid vehicles.
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Rome Airport Readies For Flying Taxis By 2024
Startup Volocopter hopes to make Fiumicino Airport a pioneer site for the rotor-bladed, battery-powered two-seater air taxi it is developing.
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Hertz Says It May Expand Supply Of Teslas To Uber To 150,000 Units
Hertz earlier this week said it would order 100,000 Tesla vehicles by the end of 2022, half of which would be offered exclusively as a rental option for Uber drivers by 2023.
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U.S. Battery Startup Redwood Materials Sets Deal With Korea's L&F
Redwood has signed a multi-year deal to use L&F's design and manufacturing technology at a new U.S. facility to make enough battery cathodes to supply up to 1 million electric vehicles a year by 2025.
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