News
Truckmaker Volvo’s second-quarter profit rises, North America orders jump
6+ hour, 13+ min ago (371+ words) STOCKHOLM, July 17 (Reuters) – Swedish truckmaker Volvo Group reported on Friday a 35% rise in second-quarter profit and said order intake in North America more than doubled after years of sluggish demand. Volvo, one of the world’s biggest makers of trucks, buses…...
Volvo Cars posts smaller profit for the second quarter
6+ hour, 43+ min ago (234+ words) STOCKHOLM, July 17 (Reuters) – Sweden’s Volvo Cars on Friday reported a decline in profits for the second quarter compared with the first three months while the automaker hopes to speed up its recovery with deliveries of the new EX60 electric model in…...
Lucid rejects take-private, bankruptcy report after shares plunge
2+ day, 17+ hour ago (10+ words) WKZO...
German automakers hit by sharp China sales drop in second quarter
6+ day, 20+ hour ago (374+ words) BERLIN, July 10 (Reuters) – German carmakers’ sales collapsed further in China during the second quarter, as a protracted slowdown in the world’s biggest auto market cranked up the pressure on legacy brands in a bruising battle with local competitors. Volkswagen, Mercedes-Benz…...
Skoda Auto says it is not directly impacted by VW overhaul plans
6+ day, 22+ hour ago (176+ words) PRAGUE, July 10 (Reuters) – Skoda Auto, the Czech unit of Volkswagen, does not expect any direct impact from the parent company’s overhaul plan to cut capacity and model lines, the company said on Friday. • Volkswagen said on Thursday that it planned…...
EV maker Polestar’s quarterly sales volumes slide amid US market ban
1+ week, 1+ day ago (345+ words) STOCKHOLM, July 9 (Reuters) – Sweden’s Polestar reported a 4% fall in quarterly sales volumes on Thursday, weeks after the EV maker was handed a U.S. market ban starting in the 2027 model year, adding to its ongoing struggles to turn a profit. In…...
Senate committee to vote on bill to tighten US ban on Chinese vehicles
1+ week, 1+ day ago (359+ words) WASHINGTON, July 8 (Reuters) – The U.S. Senate Commerce Committee will vote on July 15 on bipartisan legislation to toughen a U.S. government ban on Chinese automakers entering the American market. Republican Senator Bernie Moreno of Ohio and Democratic Senator Elissa Slotkin of Michigan…...
Mercedes-Benz Q2 sales fall, China competition intensifies
1+ week, 2+ day ago (166+ words) July 8 (Reuters) – German carmaker Mercedes-Benz said on Wednesday sales in its core car business continued to fall in the second quarter, declining 8% year-on-year due to intense competition in China. • Car deliveries fell to 417,800 in the April-June period, the company said…...
Legal AI startup Norm Ai hits $1.2 billion valuation after $120 million funding
1+ week, 2+ day ago (174+ words) July 7 – Norm Ai said on Tuesday it had raised $120 million in a Series C funding round led by Khosla Ventures, valuing the legal AI startup at $1.2 billion. New York-based Norm Ai is among a growing number of startups developing AI…...
EV maker Rivian expects increase in quarterly revenue
1+ week, 3+ day ago (89+ words) WKZO EV maker Rivian expects increase in quarterly revenue July 6 (Reuters) – Electric vehicle maker Rivian on Monday said it expects to report an increase in second-quarter revenue, driven primarily by higher vehicle deliveries. The company expects revenue between $1.55 billion and…...