Electric Mobility News

The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in the company.

CalPERS, which has approximately $492 billion under management, bought slightly more than 305,000 shares in the company, while the $191 billion Teacher Retirement System of Texas fund took a position of about 33,000 shares in the company.

The buses, made by NFI Group unit Alexander Dennis Limited (ADL) with powertrain and motor supplied by BYD Co Ltd, will be run by National Express in the British city of Coventry.

In the first two years, the measures will focus on encouraging widespread domestic use of EVs by providing tax breaks and subsidies for imported models and those made locally, he said.

Spurred on by looming bans on combustion engines in China and Europe, major automakers are striving to bring their commercial electric vehicles (EV) to market fast and ensure they don't get caught out again by another Tesla.

GM said it planned to resume production of the Bolt at its Orion Township, Michigan plant the week of April 4.

Carmakers around the world have been hit by a shortage of semiconductors caused by COVID-19 supply-chain disruptions as well as soaring semiconductor demand at consumer electronic companies.

Tesla Inc's new "yoke" steering wheel installed in Model S sedans and Model X sport utility vehicles is so difficult to use that it dropped the most valuable automaker's position in the Consumer Reports.