Cars

Reuters

Oct 29, 2022, 2:40 PM

Intel's Mobileye Unit Valued At $22 Billion As Shares Cruise Higher

The debut comes after a turbulent period when Mobileye settled for merely a third of the $50 billion valuation it was targeting earlier in its IPO.

2 Min

• 
  Reuters | Oct 29, 2022

  Truck Maker Volvo To Build Battery Modules Plant In Belgium

  The new manufacturing line would be able to use battery cells both from partners and from a planned battery cell plant in Sweden.

  1 min read
• 
  Reuters | Oct 29, 2022

  Western Officials Finalizing Plans For Russia Oil-Price Cap

  Officials said no price range has been decided yet, however one person familiar with the process said the cap will be determined in line with the historical average of $63-64 a barrel - a level that could form a natural upper limit.

  3 mins read
• 
  Reuters | Oct 29, 2022

  U.S. Autonomous Vehicle Group Picks Ex-Senate Aide As Director

  The Autonomous Vehicle Industry Association (AVIA) has tapped Jeff Farrah as its first executive director.

  2 mins read
• 
  Reuters | Oct 29, 2022

  Chip Shortage Forces Temporary Closure Of Volvo Cars Factory - GP

  Volvo Cars will temporary close one of its factories due to a chip shortage, the company told newspaper Goteborgs-Posten on Tuesday.

  0 mins read
• 
  Reuters | Oct 29, 2022

  Intel Unit Mobileye Prices IPO Above Range To Raise $861 Million

  The IPO values Mobileye at $16.7 billion, a far cry from the $50 billion valuation that Intel was initially hoping to achieve.

  2 mins read
• 
  Reuters | Oct 29, 2022

  Automakers To Double Spending On EVs, Batteries To $1.2 Trillion By 2030

  The EV investment figure, which has not previously been published, dwarfs previous investment estimates by Reuters and is more than twice the most recent calculation published just a year ago.

  2 mins read
• 
  Reuters | Oct 29, 2022

  Tesla Faces U.S. Criminal Probe Over Self-Driving Claims - Report

  The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla's driver assistance system Autopilot, which was activated during the accidents, the people said.

  4 mins read
• 
  Reuters | Oct 29, 2022

  U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies

  The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the electric vehicle (EV) market.

  1 min read