On Monday, in a statement Kia Motors said, production at three car plants in South Korea have come to a grinding halt due to a shortage of auto parts. Production at Kia Motors’ Gwangju and Sohari plants will be suspended… Read More ›
production
Toyota & Panasonic teams up to produce prismatic electric vehicle batteries
On Monday, in a joint statement, Toyota Motor Corp and Panasonic Corp stated, they have agreed to set up a joint venture which will specialize in producing prismatic electric vehicle batteries. Prismatic electric vehicle batteries developed by the joint venture… Read More ›
Chinese tech companies continue to hum despite coronavirus pandemic
On Monday, Huawei Technologies Co Ltd stated, production at its consumer devices and carrier equipment divisions have resumed and are working normally. Huawei is among other Chinese tech companies who are continuing to keep their factories running despite the Chinese… Read More ›
Tesla extends profit run backed on record deliveries
Tesla has posted its second quarterly profit in a row following a record number of vehicle deliveries; it said it expects to deliver more than 500,000 units in 2020. With the news reaching the market on Wednesday, the electric carmaker’s… Read More ›
Jointly operated Saudi-Kuwaiti oil field to produce 320,000 bpd by Dec. 2020
As per a report from Saudi-owned al-Arabiya TV, the Kingdom’s Khafji oil field, which is jointly operated with Kuwait, will produce 320,000 oil barrels per day (bpd) by the end of 2020. The announcement by was made by Prince Abdulaziz… Read More ›
Germany takes steps to protect key industries from takeover by foreign powers
On Friday, in a significant development, German Economy Minister Peter Altmaier said, it is critical that Germany sets up a new government body which will have the power to quickly decide whether it should take stakes in strategic domestic companies… Read More ›
Tesla’s futuristic Cyber makes a bold entry into the pickup truck segment
Tesla Inc has unveiled an electric pickup truck which features a futuristic angular body in gunmetal gray that somewhat resembles an armored vehicle. The Cyber truck, with starting price of $39,900, is less expensive than was initially flagged. During the… Read More ›
Aston Martin launches its first SUV
On Wednesday, in a statement Aston Martin said, is it launching its first sport utility vehicle, as it hopes for a turnaround. Share prices of the sports carmaker have plunged this year following sales unable to meet analysts’ expectations after… Read More ›
Volkswagen new energy vehicle plant in Shanghai to begin production in 2020
In a statement Volkswagen’s CEO Herbert Diess disclosed production at Volkswagen’s and SAIC Motor Corp’s $2.5 billion new energy vehicle plant in Shanghai has commenced. He made these comments to reporters while taking a tour of the plant. In a… Read More ›
Brexit contributing to slowdown in British car manufacturing
Already hit by falling sales in China, and from the U.S.-China trade war, the automotive industry is going through a turbulent time. On Thursday, an industry body in Britain disclosed, British car production has dropped by an annual 3.8% in… Read More ›
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