Auto Industry

Reuters

Feb 27, 2023, 6:08 PM

Ford Posts Lower Profit, Issues Downbeat Outlook; Shares Drop

Ford blamed chip shortages and other supply chain issues and production "instabilities" that raised costs, along with lower-than-expected volumes. Ford shares dropped more than 6% in after-market trading.

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  Reuters | Feb 27, 2023

  Xiaomi Demands Payout From Supplier After Car Designs Leaked

  Xiaomi CEO Lei Jun also circulated the note on his personal Weibo page.

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  Reuters | Feb 27, 2023

  Berkshire Hathaway Sells $44.9 Million Of Shares In China's BYD

  The sale lowered Berkshire's holdings in BYD's issued H-shares to 12.9% on Jan. 27, down from 13.04%, the filing to the Hong Kong Stock Exchange showed on Thursday.

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  Reuters | Feb 27, 2023

  Honda To Start Producing New Hydrogen Fuel Cell System Co-Developed With GM

  Honda will target annual sales of around 2,000 units of the new system in the middle of this decade, the company said on Thursday, aiming to boost that to 60,000 units per year in 2030.

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  Reuters | Feb 27, 2023

  EV Maker Rivian To Cut 6% Of Jobs Amid Price War -Internal Memo

  Layoffs at Rivian come amid falling EV prices kicked off by cuts made recently by Elon Musk-led Tesla and Ford Motor Co.

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  Reuters | Feb 27, 2023

  SK On Confirms Termination Of Non-Binding Agreement To Build Battery Cell Venture In Turkey

  SK On - whose parent SK Innovation Co Ltd counts Hyundai Motor Co, Volkswagen AG and Ford among its customers - announced the joint venture to make electric vehicle (EV) battery cells in Turkey last year.

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  Reuters | Feb 27, 2023

  Hertz Has Fewer Tesla's In Its Fleet Than Planned

  Hertz did not give details on why it has added fewer Tesla's than it originally planned to order.

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  Reuters | Feb 27, 2023

  Mexico President Says Two Locations Primed For New Tesla Plant

  Lopez Obrador referred to both states as a possibility when asked about the firm's plans, which Tesla has not yet commented on, during a regular news conference.

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  Reuters | Feb 27, 2023

  India's MRF Reports Q3 Profit Jump On Softer Raw Material Prices, Solid Demand

  MRF's total expenses rose 14% to 53.81 billion rupees, nearly half of the increase in the first six months of the current fiscal year.

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