Auto Industry

Reuters

Dec 26, 2021, 4:34 PM

EV Maker Lucid Gets SEC Subpoena On $24-Billion Blank-Check Deal

Lucid's deal with veteran dealmaker Michael Klein's blank-check firm earlier this year gave the combined company a pro-forma equity value of $24 billion, making it one of the biggest deals with Special Purpose Acquisition Companies (SPACs).

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  Reuters | Dec 26, 2021

  Canoo Revs Up U.S. Electric Vehicle Production Plan As Drops Overseas Deal

  Canoo said starting production in Oklahoma remains on track for late 2023, but it also now expects to begin building electric vehicles in Arkansas next year, instead of using the VDL Nedcar plant.

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  Reuters | Dec 26, 2021

  Elon Musk: I'm Almost Done With Tesla Stock Sales

  On Wednesday, Musk sold another 934,091 shares, bringing the total he has offloaded to 14.77 million - nearly 90% of the 17 million or so shares he had been expected to sell.

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  Reuters | Dec 26, 2021

  India's Crude Imports Hit 10-Month Peak As Refiners Bank On Strong Demand

  Crude oil imports last month rose 7.5% versus October and were also 0.5% higher than a year ago at 18.37 million tonnes, data on the website of the Petroleum Planning and Analysis Cell (PPAC) showed on Thursday.

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  Charanpreet Singh | Dec 25, 2021

  Battrixx To Raise Up To Rs. 301 Crore To Fund Production, New Technologies

  The company aims to enhance its annual production capacity in phases from the existing 1 lakh battery packs to 7 lakh by end of FY24 to meet the growing demand in the EV industry and other energy storage applications.

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  Reuters | Dec 25, 2021

  Chinese Autonomous Driving Startup Raises $157 Million From Hillhouse, Meituan

  Haomo will use the funds raised from investors to build its talent pool and enhance its R&D capability, the company said in a statement on Wednesday.

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  Reuters | Dec 25, 2021

  Micron Results Beat Forecasts, Sees Chip Shortages Easing In 2022

  Micron said data center revenue grew 70% and that automotive revenue grew 25%, with the automotive growth coming from the increasing amount of memory required in cars with advanced driver safety systems.

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  Reuters | Dec 25, 2021

  Musk Says Tesla's Cybertruck Will Have Four-Motor Variant

  Calling the electric pick-up truck "insane technology bandwagon," Musk said the Cybertruck would have both front and rear-wheel steer that would "not just (turn) like a tank - it can drive diagonally like a crab."

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  Reuters | Dec 25, 2021

  BP Buys EV Charging Provider AMPLY In Green Energy Push

  BP aims to double earnings from its global convenience and mobility businesses by 2030 and grow its global network of EV charging points by over six-fold to 70,000 during the same period.

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