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March 5, 2021

Automobiles / Auto Parts (Legacy)

Stellantis to distribute its stake in Faurecia to shareholders

Reuters
A view shows the logo of Stellantis at the entrance of the company’s factory in Hordain, France, March 3, 2021. REUTERS/Pascal Rossignol MILAN (Reuters) – Stellantis on Thursday announced distribution of the stake it still holds in auto parts maker Faurecia to its shareholders. Stellantis shareholders will decide on the......

UK new car sales slump in February amid COVID-19 hit

Reuters
FILE PHOTO: Parked cars are seen at the Vauxhall plant as the outbreak of the coronavirus disease (COVID-19) continues, in Ellesmere Port, Britain March 16, 2020. REUTERS/Phil Noble/File Photo LONDON (Reuters) – British new car registrations fell by roughly 36% year-on-year in February, according to preliminary data from an industry......

Volkswagen considering entry to more sustainable F1 – BBC

Reuters
LONDON (Reuters) – Porsche and the Volkswagen Group would consider entering Formula One if the next engine regulations due to be introduced in 2025 promote sustainable fuels, the BBC reported on Wednesday. The broadcaster quoted Porsche Motorsport vice-president Fritz Enzinger as saying it would be “of great interest if aspects......

Volkswagen considering entry to more sustainable F1 – BBC

Reuters
LONDON (Reuters) – Porsche and the Volkswagen Group would consider entering Formula One if the next engine regulations due to be introduced in 2025 promote sustainable fuels, the BBC reported on Wednesday. The broadcaster quoted Porsche Motorsport vice-president Fritz Enzinger as saying it would be “of great interest if aspects......

California startup touts battery-swapping to juice demand for electric vehicles

Reuters
(Reuters) – Ample, a seven-year-old San Francisco startup, wants to skirt one of the big hurdles to widespread adoption of electric vehicles by reviving the idea of quick, automated battery swaps for owners concerned about running out of juice while driving. The main benefits, according to co-founders Khaled Hassounah and......

Upbeat brokers lift Volkswagen’s market value above 100 billion euros

Reuters
FILE PHOTO: An employee fixes a VW sign at a production line of the electric Volkswagen model ID.3 in Zwickau, Germany, February 25, 2020. REUTERS/Matthias Rietschel/File Photo FRANKFURT (Reuters) – Shares in Volkswagen, the world’s second-largest carmaker, rose to their highest in more than three years on Wednesday, boosted by......

Volkswagen expects strong rebound in sales, deliveries in 2021

Reuters
FILE PHOTO: The logo of German carmaker Volkswagen is seen on car in a showroom of a Volkswagen car dealer in Brussels, Belgium July 9, 2020. REUTERS/Francois Lenoir FRANKFURT (Reuters) – Volkswagen, the world’s second-largest carmaker, on Friday said it expects revenues and deliveries to rebound strongly in the current......

Analysis: Hedge funds worry about market fallout from Tesla, ARK and spiking yields

Reuters
(Reuters) – Some hedge fund managers are getting concerned about the money that has flooded into high-flying stocks like Tesla and the popular ARK fund as bond yields spike and growth stocks take a hit. FILE PHOTO: Traders wear masks as they work on the floor of the New York......

Biden says he will push for funding for semiconductor legislation

Reuters
U.S. President Joe Biden delivers holds a semiconductor chip as he speaks prior to signing an executive order, aimed at addressing a global semiconductor chip shortage, in the State Dining Room at the White House in Washington, U.S., February 24, 2021. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – U.S. President Joe Biden......

Tesla shares set to skid into the red for the year

Reuters
LONDON (Reuters) – Shares in Tesla were set to plunge into the red for the year on Tuesday, hit by a broad selloff of high-flying technology stocks and the fall of bitcoin, in which the electric carmaker recently invested $1.5 billion. By 1029 GMT, Tesla was down over 8% in......

Baidu-Geely EV venture names Mobike co-founder as chief

Reuters
BEIJING/SHANGHAI (Reuters) – China’s Baidu Inc and automaker Geely hired Mobike co-founder and former chief technology officer Xia Yiping as chief executive of their new electric vehicle venture, the search engine giant said on Monday. Baidu last month had announced it would set up a company with Zhejiang Geely Holding......

Foxconn chairman says expects ‘limited impact’ from chip shortage on clients

Reuters
FILE PHOTO: A sign of Foxconn is seen inside its office building in Taipei, Taiwan November 12, 2020. REUTERS/Ann Wang TAIPEI (Reuters) – The chairman of Apple Inc supplier Foxconn said on Saturday he expects his company and its clients will face only “limited impact” from a chip shortage that......

Geely departs from convention with plan for new EV unit: sources

Reuters
SHANGHAI (Reuters) – China’s Geely plans to set up a firm to explore new approaches to product planning, marketing and sales of electric vehicles (EV), sources said, departing from industry convention whereby EVs are marketed and sold alongside traditional cars. FILE PHOTO: A building of the Geely Auto Research Institute......

GRAPHIC-Take Five: Here comes the bull

Reuters
1/GONG HEI FAT CHOY! It’s the Lunar Year of the Ox. Since the same Chinese character can be used to denote a bull, some investors might see that as a good omen for world markets. Higher bond yields could spoil the party at some point, but for now equity markets......

White House working to address semiconductor shortage hitting auto production

Reuters
FILE PHOTO: U.S. President Joe Biden delivers remarks to Defense Department personnel during a visit to the Pentagon in Arlington, Virginia, U.S., February 10, 2021. REUTERS/Carlos Barria WASHINGTON (Reuters) – The White House said Thursday administration officials are working to address a growing shortage of semiconductor chips that has slowed......

Profits aside, GM’s EV plans are driving a now-rising stock

Reuters
DETROIT (Reuters) – General Motors Co is expected to report a healthy fourth-quarter profit on Wednesday thanks to strong demand for gas-burning pickup trucks and SUVs, but the company’s future electric vehicles are now driving the stock, shareholders and analysts said. Since November, when Chief Executive Mary Barra outlined plans......

South Korea regulator not probing Hyundai executives’ share sales: official

Reuters
FILE PHOTO: The logo of Hyundai Motors is seen on a steering wheel on display at the company’s headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji SEOUL (Reuters) – South Korea’s Financial Supervisory Service (FSS) is not currently investigating Hyundai Motor executives’ share sales, a regulatory official said......

Ethereum gets bulk of crypto flows in latest week -CoinShares

Reuters
By Gertrude Chavez-Dreyfuss NEW YORK, Feb 8 (Reuters) – Investment inflows into cryptocurrency funds and products amounted to $245 million last week, with 80% of the money going into ethereum ahead of the listing of its futures on the Chicago Mercantile Exchange, according to the latest data on Monday from......

Asian chipmakers rush to boost production to meet global shortage

Reuters
By Ben Blanchard, Joyce Lee TAIPEI/SEOUL (Reuters) – Asian chipmakers are rushing to expand their production capacity to meet a global shortage that has been acutely felt by carmakers, but the firms warn that the supply gap may take many months to plug as they struggle to keep up with......

Porsche to set up assembly plant in Malaysia: The Edge

Reuters
FILE PHOTO: A logo of Porsche is seen outside a Porsche car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman KUALA LUMPUR (Reuters) – German sports car maker Porsche AG is setting up an assembly plant in Malaysia under a partnership with trading......

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