According to foreign media reports, British battery startup Volklec is working with Chinese battery supplier Far East Battery to build a £1 billion super battery factory in the UK. Volklec, based in Coventry, UK, is supported by British investment firm Frontive Group. Frontive Group is funded by brothers Imran Khatri and Sameer Khatri, former investors in another British battery company, British Volt, who tried to get it out of the bankruptcy administration process two years ago to get it out of the situation. It is reported that Volklec […]
According to Bloomberg, U.S. President Donald Trump said the 25% tariff imposed on Canada and Mexico will take effect on March 4 and announced an additional 10% tariff on products imported from China. This move will further exacerbate trade disputes between the United States and its major trading partners. Trump announced on February 3 that he would suspend the full imposition of tariffs on Canada and Mexico for one month as leaders of Canada and Mexico announced new border security measures. However, Trump’s recent remarks about whether these tariffs will be imposed after the […]
According to a statement released on February 26, the Italian Agnelli family is selling about 3 billion euros ($3.15 billion) of shares in Ferrari Auto through its controlling investment company Exor NV. However, even after selling 7 million common shares of the luxury automaker, the Italian century-old family will remain Ferrari’s largest shareholder, retaining about 30% of the voting rights. Exor NV’s statement said the shares sold are equivalent to about 4% of Ferrari’s issued share capital and will be completed through an accelerated bookkeeping issuance for institutional investors. Goldman Sachs […]
According to foreign media reports, on February 26, Stellantis Chairman John Elkann said in a conference call with analysts that the Trump administration should avoid imposing 25% import tariffs on Mexican and Canadian products, but instead impose tariffs on imported cars that do not contain any U.S. parts. Stellantis Group believes that Trump’s tariff policy will seriously impact automakers that produce most of the cars in the United States like Stellantis. John Elkann also said: “If the Trump administration really wants to increase jobs in the United States, promote manufacturing and attract investment, the real […]
According to foreign media reports, on February 25, Suzuki’s Indian subsidiary Maruti Suzuki completed the first phase of construction and officially started production in the new Kharkhoda factory in Haryana, northern India. It is expected that the factory will become one of the largest passenger car manufacturing bases in Asia by 2028. The last time the India’s largest sales carmaker opened a new factory in India was in 2017, located in Gujarat, the hometown of Prime Minister Modi. Maruti Suzuki’s new factory will eventually accommodate four production units, each with an annual […]
According to foreign media reports, the U.S. General Services Administration (GSA), which manages the U.S. federal government-owned buildings, is planning to close about 8,000 electric vehicle charging piles nationwide, calling them “non-mission critical facilities.” As the agency responsible for managing government fleet contracts, GSA is also considering disposing of newly purchased electric vehicles. Official guidance on instructing federal staff to start closing the charging piles will be announced within the agency next week, according to a source with knowledge of the plans. Some regional offices have been notified to start closing their charging piles. Currently, […]