Thailand, Southeast Asia’s largest auto production hub, is offering incentives to encourage joint ventures (JVs) in the automotive parts sector, specifically targeting electric vehicles (EVs). The Board of Investment (BOI) announced on Thursday that it …
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STMicroelectronics Cuts Full-Year Outlook Again, Shares Plunge 13.5%
STMicroelectronics (STM), a leading chipmaker supplying companies like Tesla and Apple, has slashed its full-year revenue and profit forecasts for the second time. The company attributed the revision to a “longer and more pronounced correction …
Continue readingRivian to Face Trial in Tesla Trade Secrets Case
Rivian Automotive will face trial over allegations that it encouraged its employees who defected from Tesla to steal trade secrets. A California judge, Theodore C. Zayner, tentatively denied Rivian’s motion to dismiss the lawsuit, stating …
Continue readingPorsche Could Take Stake in Battery Maker Varta as Part of Restructuring
German battery maker Varta is in talks with luxury sportscar maker Porsche about a potential investment that could see the carmaker take a stake in the company. Varta is currently exploring two restructuring scenarios that …
Continue readingChina Lithium Prices Surge on Chile Earthquake, But Demand Concerns Remain
China’s lithium prices jumped on Friday after a powerful earthquake struck Chile’s major lithium-producing region, but persistent demand concerns weighed on the metal used in electric vehicle batteries. The most-traded November lithium carbonate futures on …
Continue readingEU New Car Sales Soar in June, But Electric Vehicle Growth Stalls
New car sales in the European Union rose by 4.3% in June, reaching their highest level since July 2019. This increase was driven by strong performances in major markets like Italy, Germany, and Spain. However, …
Continue readingGM to Invest $900 Million in Michigan Plant for EV Production
General Motors (GM) is set to invest at least $900 million to retool its Lansing Grand River Assembly Plant in Michigan for electric vehicle (EV) production. This announcement came from Energy Secretary Jennifer Granholm, who …
Continue readingTesla Raises Model 3 Prices in Europe Due to Chinese EV Tariffs
Tesla has raised prices of its Model 3 electric vehicles in several European countries, including Germany, the Netherlands, and Spain. The price hike, which amounts to €1,500, is attributed to new tariffs imposed by the …
Continue readingTreasury Tightens Grip on Foreign Land Purchases Near Military Sites
The US Treasury has announced a significant expansion of its security review authority over foreign purchases of real estate near military bases. This move, which adds 56 facilities across 30 states to the review list, …
Continue readingStellantis Italian Production Faces Sharp Decline as EV Incentives Fail to Boost Demand
Stellantis, the multinational automotive giant, is facing a potential decline in Italian production this year as demand, particularly for electric vehicles (EVs), remains sluggish. The FIM-CISL union predicts a drop to 500,000 vehicles, down from …
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