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Toyota-Panasonic Battery JV To Boost Efficiency To Catch Up With Chinese Rivals
The joint battery venture between Toyota and Panasonic is called Prime Planet Energy & Solutions Inc, and is now the world's largest supplier of batteries for hybrid vehicles.
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Daimler Posts Forecast-Beating Results For Q3 2020 As Demand Rebounds
European car registrations rose slightly in September, the first increase this year, industry data showed, suggesting a recovery in the auto sector in some European markets where coronavirus infections were lower.
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Auto Start-ups Chasing Tesla Race Past Red Flags To Go Public
Lining up on the success of Tesla, the new EV-related start-ups want to go public but few have products ready to sell or any likelihood of generating significant revenue anytime soon.
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Daimler Lifts 2020 Profit Outlook As Mercedes-Benz Margins Rebound
With improved pricinga and a fall in fixed costs, the adjusted return on sales on Mercedes-Benz Cars & Vans division rose to 9.4 per cent in the last quarter, up from 7 per cent a year earlier
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Oil Prices Slip As U.S. Inventory Build Stokes Fears Of Supply Glut
Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, data from industry group the American Petroleum Institute showed.
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GM Plans Investments To Expand Electric Vehicle Production
GM Chief Executive Mary Barra has outlined plans to invest $20 billion by 2025 in new electric vehicles and electric vehicle battery technology.
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BMW Says Third-Quarter Cash Flow In Auto Segment Was Above Expectations
An optimisation of working capital and a reduction of fixed costs and capital expenditure had helped to bolster earnings, but earnings forecasts for the individual segments and the multi-brand carmaking group remain unchanged.
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Driverless Race Steps Up With Cruise Allowed To Drive Empty In San Francisco
Cruise, which is majority owned by General Motors Co and counts Honda Motor Co Ltd and SoftBank Group as investors, has been testing 180 self-driving cars in San Francisco with a safety driver behind the wheel.
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India's Car, Motorbike Sales Surge As Dealerships Stock Up Ahead Of Festive Season
India's auto sector was already facing poor demand last year when Prime Minister Narendra Modi's government imposed a nationwide lockdown in March to curb the virus' spread, bringing businesses to a standstill.
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Volkswagen Raises Navistar Bid To $44.50 Per Share To Clinch Trucks Deal
The announcement follows hours of negotiations, with Navistar's board saying the offer would need to be raised to $44.50 per share to win shareholders' backing, hours before Traton's $43 per share offer was due to expire.
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Uber Seeking Options Including Partial Sale For Uber Elevate: Axios
Uber Technologies Inc is seeking options for its Uber Elevate business, including strategic partnerships or a partial sale, Axios reported on Friday, citing multiple sources.
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Taiwan's Foxconn Says It's Eyeing Electric Vehicle Market
Taiwan's Foxconn aims to take a 10 per cent market share in the electric vehicle segment globally between 2025-2027. The company is in talks with other carmakers for future cooperation.
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Tesla Co-Founder Straubel Aims To Build World's Top Battery Recycler
Chief Executive Elon Musk said he was looking at recycling batteries to supplement the supply of raw materials from mining as Tesla escalates vehicle production.
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Nissan Says China Sales Rose 5.1 Per Cent In September
Nissan Motor said on Sunday its sales in China rose 5.1% in September from a year earlier, to 141,595 vehicles.
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ONGC Sees Gas Revenue Hit By $1 Billion Due To Price Cut
India has slashed prices of gas produced from old blocks - handed to explorers without bidding - by about a quarter to a multi-year low of $1.79 per million metric British thermal units.
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India's September Fuel Demand Posts First Monthly Gain Since June
Demand in August was the weakest since April, hurt by a throttling of economic activity and transport due to restrictions.
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Daimler To Cut Fixed Costs By More Than 20 Per Cent By 2025
By 2025, Mercedes-Benz AG is aiming for a return on sales within a mid to high single-digit range, even under unfavourable market conditions.
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Toyota, Nissan Seek Customs Reimbursement From UK If Brexit Talks Fail: Report
Toyota and Nissan want payments to cover the additional 10 per cent tax on automobile imports from Britain that the EU would impose should Britain crash out of the EU without an agreement.
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India To Extend Surcharge On Taxes On Luxury Cars Beyond 2022
The surcharge on luxury goods, which varies from 12% to 200%, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.
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Honda Confirms 17th U.S. Death In Takata Airbag Rupture
The most recent previous fatal confirmed U.S. incident was the June 2018 death of a driver after the crash of a 2002 Honda Civic in Buckeye, Arizona.
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