June 23, 2022 10:33 am
Toyota Motor Corp (7203) on Wednesday revised down its global production plan for July by 50,000 vehicles, as chip crunch and pandemic-related parts supply disruptions continued to weigh on output. “As it remains difficult to look ahead due to the shortage of semiconductors and the spread of COVID-19, there is a possibility that the production […]
Read moreJune 22, 2022 9:26 am
At a conference in Doha on Tuesday, Exxon Mobil’s (XOM) Chief Executive Officer Darren Woods said the oil major was in talks with the US government to speed up the expansion of the Golden Pass LNG project. According to a report by S&P Global Platts, the $10 billion project is expected to begin in 2024. […]
Read moreJune 22, 2022 8:34 am
The first quarter of 2022 saw Xbox Series X/S unit sales surpass those of PlayStation 5 by a significant margin for the first time since the release of both consoles in November, 2020. In Q1 2022 Microsoft sold about 200,000 more consoles than Sony, which is a gap of over 10%. However, both manufacturers’ sales […]
Read moreJune 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 […]
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