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EV Maker Lucid Files For New Offering To Raise $8 Billion In Stages
Lucid filed for a new offering of up to $8 billion as the luxury electric-vehicle maker looks to beef up working capital at a time when supply snarls have crimped its production.
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India's Zoomcar Seeks U.S. Listing Through $456 Million SPAC Deal
The Bengaluru-based startup expects to list on the Nasdaq as Zoomcar Holdings Inc after being acquired by Innovative International Acquisition Corp in the first half of 2023.
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Piedmont To Build Lithium Plant In Tennessee For EV Market
Piedmont Lithium will build a lithium processing plant in Tennessee to supply the rapidly-growing electric vehicle (EV) industry.
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EU, U.S. Eye Level Playing Field For EU Electric Cars In U.S. Market
The EU says that while it allows government tax breaks or subsidies for purchases of U.S. electric cars such as those made by Tesla, the United States makes such support conditional on the car, or parts of it, being made in the United States.
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Stocks Eye 3% Weekly Loss, Dollar Sky High Before U.S. Jobs Data
World stocks were heading for a 3% loss on the week while the dollar hit 24-year highs against the yen for a second day ahead of key U.S. jobs data, as investors brace for aggressive rate hikes from the Federal Reserve.
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TomTom Shares Fall As 2023 Uncertainties Outweigh Q3 Beat
The Amsterdam-based group, whose customers range from major car companies to global tech firms, forecast free cash flow at break-even for next year, compared with a previous outlook for an inflow of at least 5% of revenues.
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Musk Looks To Delay Twitter Trial Following Whistleblower Claims
Elon Musk is seeking to delay until November a trial over his intention to back out of a $44 billion deal to buy Twitter Inc and amend his complaint against the social media company, according to court filings, after a whistleblower provided him with fresh ammunition.
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Intel's Mobileye IPO Eyes Significantly Lower Valuation - Report
Mobileye, which was originally expected to land a roughly $50 billion valuation, is now set to target one of under $20 billion and sell a smaller number of shares than originally planned, according to the report.
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GM Startup Cruise Recalls And Revises Self-Driving Software After Crash
General Motors startup Cruise LLC said it had recalled and updated software in 80 self-driving vehicles after a June crash in San Francisco that left two people injured.
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Intel's Mobileye Seeks Drastically Lower $16 Billion Valuation In IPO
Reuters, citing sources, had reported in April that the stock market flotation could value Mobileye at as much as $50 billion.
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Germany To Spend 6.3 Billion Euros On Push For Electric Car Charging Points
The plan envisages a 14-fold increase in the number of charging stations, climbing to 1 million by 2030 from around 70,000 now. It would focus on building them in local municipalities which are currently undersupplied.
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Mercedes Signs 1.5 Billion Eur Deal With Rock Tech Lithium To Push E-Car Drive
The deal allows the luxury carmaker to supply its battery partners with raw material, starting in 2026, including a qualification period, in order to rapidly scale up production of fully electric vehicles, it said in a statement.
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Castrol India Reports Flat Profit For Inflation-Hit September Quarter
Net profit came in at Rs. 1.87 billion ($22.59 million) for the three months ended Sept. 30, compared with Rs. 1.86 billion a year earlier. Revenue from operations increased by 4.5 per cent to Rs. 11.21 billion.
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Twitter Lawsuit Halted So Elon Musk Can Close Deal
The ruling followed days of uncertainty about Musk's intentions and removed the threat that the erratic entrepreneur would have to testify under oath this week about his claims that Twitter fraudulently misled him.
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China's Evergrande Delivers First Electric Vehicles
The company, a unit of heavily indebted property developer China Evergrande Group, launched production of the vehicle at a plant in the northern city of Tianjin last month.
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Twitter & Elon Musk Could Reach Out Of Court Deal Soon
Twitter and Elon Musk are set to reach an out of court settlement soon after the world's richest man tried to back out of the acquisition.
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Factbox-Who Is Financing Elon Musk's $44 Billion Deal To Buy Twitter?
While Musk will provide much of the funding after selling down his stake in electric vehicle maker Tesla Inc and by leaning on equity financing from large investors, major banks have committed to provide $13 billion.
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Apollo, Sixth Street No Longer In Talks For Musk Twitter Deal
Apollo Global Management and Sixth Street Partners will not be providing financing for Elon Musk's acquisition of Twitter.
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Self-Driving Cars Face Uncertain Path To US Deployment: Report
Following a GM petition as well as a June crash involving an autonomous vehicle, the City and County of San Francisco said in its comments GM and Cruise failed to provide sufficient data and fell "short of documenting or analyzing the safety performance" of the self-driving vehicles.
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Oil Settles Up 5% As Further Interest Rate Hikes Loom
Though fears of global recession capped gains, Brent crude futures settled up $3.99 to $98.57 per barrel, a weekly gain of 2.9%.
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