June 21, 2022 10:55 am
ABB has once again postponed the planned IPO of its electric vehicle charging business, citing turbulent stock market conditions. “The listing of the business remains an important part of ABB’s strategy. However, recent market conditions have made it challenging to proceed with a planned share offering in the second quarter of 2022,” the Swiss company […]
Read moreJune 20, 2022 10:50 am
Last Friday General Motors Co (GM) raised the price of its Hummer EV pickup truck by $6,250 in an attempt to mitigate the effect of rising commodity and shipping costs as demand for cars and trucks surges. Currently priced within a range of $80,000 to $110,000, GM’s Hummer EV has over 77,500 existing bookings. Yet, […]
Read moreJune 17, 2022 11:11 am
Sony Corp and Honda Motor Co Ltd said this week they had officially agreed to establish an equally owned joint venture with the aim to begin selling electric vehicles by 2025. The two companies will invest JPY 5 billion in the venture each. Senior Honda executive Yasuhide Mizuno will assume the roles of Chairman and […]
Read moreJune 17, 2022 7:58 am
Walmart Inc (WMT) said earlier this week it would raise the average pay of pharmacy workers to over $20 per hour and offer them more frequent and automatic pay raises as part of the company’s new “progressive wage model”. Under this plan, new pharmacy technicians will receive raises of up to $4 to their hourly […]
Read moreJune 15, 2022 7:35 am
Ford Motor Co (F) announced on Tuesday the recall of nearly 49,000 Mustang Mach-E electric vehicles in the United States, as a part could overheat and lead to propulsion power loss. DC fast charging and repeated wide-open pedal events may cause the high-voltage battery main contactors to overheat, the company warned. The US auto maker […]
Read moreJune 14, 2022 10:44 am
Energy giant TotalEnergies (TTEF) intends to acquire a 25% stake in India’s Adani New Industries Ltd, as part of an agreement with Adani Enterprises Ltd over the development of the world’s largest green hydrogen ecosystem. Adani New Industries Ltd intends to invest $50 billion during the next 10 years in green hydrogen and associated ecosystem. […]
Read moreJune 14, 2022 7:20 am
The economy minister of Brandenburg Joerg Steinbach said at a conference on Monday that Tesla Inc (TSLA) was hiring 500 to 600 people per month at its Gruenheide factory and was cooperating with the national employment agency to recruit workers no longer needed at German auto makers. A total of 4,100 to 4,500 employees have […]
Read moreJune 13, 2022 7:21 am
Netflix Inc (NFLX) shares closed 5% lower on Friday, after Goldman Sachs downgraded the company due to risks of slower consumer spending and intense competition from Walt Disney Co and Amazon. Netflix Inc’s services suspension in Russia after the Ukraine invasion has also had an impact on the streaming company. Goldman Sachs cut its rating […]
Read moreJune 10, 2022 11:05 am
Mastercard Inc said on Thursday that it was collaborating with a number of NFT marketplaces and web3 infrastructure providers in an attempt to facilitate the process of purchasing NFTs. The company said it was working with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and MoonPay to make the process easier and safer. […]
Read moreJune 10, 2022 8:23 am
General Motors Co (GM) said earlier this week it intended to initiate production of its Chevrolet Tracker SUV in Argentina in July. Production plans were discussed by Shilpan Amin, a GM senior vice president and president of GM International, and Argentine President Alberto Fernandez during a meeting in Los Angeles. A spokesperson for the US […]
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