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News
Tesla beats delivery estimates on sales boost before EV tax credit expiry
11+ mon, 1+ week ago (424+ words) (Reuters) -Tesla’s third-quarter deliveries trounced analysts’ estimates on Thursday as a rush to buy EVs in the U.S. before the expiry of a popular tax credit more than offset slumping demand for its vehicles in Europe. Shares of the…...
Tesla’s Cybercab event set for Thursday, with few details
1+ week, 3+ day ago (593+ words) By Chris Kirkham and Akash Sriram Sept 3 (Reuters) – Tesla will unveil its two-seater Cybercab at an event in Texas on Thursday, offering a closer look at the autonomous vehicle that CEO Elon Musk has said is key to transforming the…...
Volvo Cars to close Stockholm office
1+ week, 6+ day ago (89+ words) HELSINKI, Aug 31 (Reuters) - Sweden's Volvo Cars said on Monday it will close its Stockholm office, where 450 people currently work, relocating responsibilities to its Gothenburg headquarters as part of an effort to cut costs and boos... Volvo Cars to close Stockholm…...
Polestar gets Nasdaq notice on potential delisting due to slumping stock
10+ mon, 1+ week ago (214+ words) (Reuters) -Polestar said on Friday it was notified by the Nasdaq for not meeting the exchange’s listing rules related to maintaining a minimum bid price of $1, as the Swedish EV firm’s shares fall pressured by intensifying competition. Polestar has rolled…...
VW’s Blume says overhead costs 30% above rivals, 50,000 jobs figure a guide
3+ week, 1+ day ago (239+ words) BERLIN, Aug 21 (Reuters) – Volkswagen CEO Oliver Blume said the German carmaker’s overhead costs remain over 30% higher than those of comparable firms and that it must reduce that disadvantage to stay competitive, according to an internal company interview. “The frequently cited…...
Trading Day: Tech, tariffs & Treasuries
2+ week, 5+ day ago (463+ words) ORLANDO, Florida, Aug 24 (Reuters) – U.S. bond yields fell and tech weighed on U.S. stocks on Monday, as investors digested a raft of economic measures and developments coming out of Washington: U.S. Treasury’s plans to increase buybacks of long-dated bonds, new…...
Tesla teases Tuesday event as focus shifts to affordable EVs
11+ mon, 1+ week ago (180+ words) (Reuters) -Tesla on Sunday teased an October 7 event, as investors and analysts await a more affordable model to sustain sales momentum. Tesla has previously delayed rolling out a lower-cost version of the Model Y in the United States. The company…...
Factbox-Shein reveals financials, valuation in Hong Kong IPO filings
1+ mon, 2+ week ago (544+ words) HONG KONG, July 27 (Reuters) – Online fast-fashion retailer Shein swung to a $99 million quarterly loss due to slowing sales after the U.S. removed an import duty exemption on small packages and a hefty one-time accounting charge. The loss and other financial…...
Tesla reduces Berlin staff by 1,700, Handelsblatt reports
7+ mon, 3+ week ago (129+ words) BERLIN, Jan 21 (Reuters) – Tesla’s workforce at its gigafactory outside Berlin has shrunk by some 1,700 employees, the Handelsblatt business daily reported on Wednesday. The Gruenheide plant south-east of the German capital, Tesla’s only production site in Europe, currently has 10,703 workers, the…...
Trump’s energy pivot accelerates US solar and wind power mergers, asset sales
11+ mon, 2+ week ago (469+ words) By Pooja Menon and Sumit Saha (Reuters) -The Trump administration’s rapid retreat from renewable energy has kicked off consolidation and asset sales among smaller U.S. solar and wind power companies as they scramble to stay afloat, industry insiders and analysts…...