by Priyanka Sharma | November 20, 2024 | Automotive, Mergers & Acquisitions
Abdulla bin Touq Al Marri, Minister of Economy, held a meeting with Peec Mobility officials to learn about the company’s future plans for the UAE market and their contribution to promoting the circular economy and sustainable transportation. The meeting forms part of...
by Priyanka Sharma | November 13, 2024 | Automotive, News
Volkswagen Group (VW) and electric vehicle (EV) maker Rivian have announced a strengthened joint venture aimed at advancing EV technology and reducing production costs. The German automaker has increased its investment in the partnership to $5.8 billion, up from an...
by Jibran Munaf | November 9, 2024 | Automotive
Tesla’s stock surged 8% on Friday, propelling the electric vehicle giant’s market capitalization past $1 trillion as investors cheered the recent U.S. election outcome. The week-long rally comes after Donald Trump’s presidential win, sparking optimism among investors...
by Jibran Munaf | November 7, 2024 | Automotive
Tesla CEO Elon Musk’s high-profile support for Donald Trump’s re-election is paying off for shareholders, with Tesla stock surging amid Trump’s victory. However, investors are speculating about what Musk’s relationship with the new administration will mean for Tesla’s...
by Jibran Munaf | October 30, 2024 | Automotive
China’s commerce ministry announced its strong opposition to the European Union’s recent tariff hikes on Chinese electric vehicles (EVs), which have been raised to as high as 45.3% as of Wednesday. The new tariffs, aimed at countering alleged subsidies for Chinese...
by Jibran Munaf | October 30, 2024 | Automotive, Corporate Finance
Volkswagen, the German automotive giant, announced a 42% decline in third-quarter operating profit on Wednesday, citing high costs and restructuring efforts as key pressures. Operating profit for the quarter dropped to €2.86 billion ($3.1 billion), while sales revenue...
