Exclusive: Tesla readies revamped Model 3 with project ‘Highland’ -sources

Exclusive: Tesla readies revamped Model 3 with project ‘Highland’ -sources

Nov 28 (Reuters) – Tesla (TSLA.O) is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year-old electric sedan. One focus of the redesign codenamed “Highland” is to reduce the number of … Read more

Buffett’s Berkshire discloses $4.1 bln TSMC stake

Buffett’s Berkshire discloses .1 bln TSMC stake

Nov 14 (Reuters) – Berkshire Hathaway Inc (BRKa.N) said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing (2330.TW), , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. The news sent shares in TSMC up more than 6% in Taiwan on Tuesday, as it boosted investor sentiment … Read more

Tesla slashes China prices by up to 9% as analysts warn of ‘price war’

Tesla slashes China prices by up to 9% as analysts warn of ‘price war’

SHANGHAI, Oct 24 (Reuters) – Tesla (TSLA.O) has cut starter prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of increases across the industry amid signs of softening demand in the world’s largest auto market. The price cuts, posted in listings on the electric vehicle … Read more

Chinese EV giant BYD flags huge jump in quarterly profit, shares surge

Chinese EV giant BYD flags huge jump in quarterly profit, shares surge

Oct 18 (Reuters) – BYD Co (002594.SZ), China’s biggest electric car maker, said third-quarter net profit likely more than quadrupled due to robust sales and a better product mix, sending its shares surging. It estimated that net profit for the July-September quarter came in between 5.5 billion yuan to 5.9 billion yuan ($765 million-$820 million), … Read more

Tesla’s China-made sales hit record following Shanghai factory upgrade

Tesla’s China-made sales hit record following Shanghai factory upgrade

Oct 9 (Reuters) – Tesla Inc (TSLA.O) delivered 83,135 China-made electric vehicles (EVs) in September, smashing its monthly record, according to a report released on Sunday by the China Passenger Car Association (CPCA). The number marks an 8% increase from August and set a record for Tesla’s Shanghai factory since production began in December 2019, … Read more

Porsche debuts with $72 bln price tag in bumper IPO

Porsche debuts with  bln price tag in bumper IPO

FRANKFURT, Sept 29 (Reuters) – Porsche AG made its debut on the stock market on Thursday, with a price tag of about 75 billion euros ($72.45 billion) after Volkswagen (VOWG_p.DE) priced shares at the top end of the range, braving turbulent market conditions. The bumper flotation, expected to generate around 19.5 billion euros ($19.0 billion), … Read more

Biden, unions, rail executives struggle for deal as shutdown looms

Biden, unions, rail executives struggle for deal as shutdown looms

DETROIT/LOS ANGELES, Sept 14 (Reuters) – Biden administration officials hosted labor contract talks late on Wednesday to avert a potential rail shutdown that could disrupt cargo shipments and impede food and fuel supplies, but one small union rejected a deal and Amtrak canceled all long-distance passenger trips. Railroads including Union Pacific (UNP.N), Berkshire Hathaway’s (BRKa.N) … Read more

Porsche wants to be ready for IPO as early as possible, exec tells Il Sole 24 Ore

Porsche wants to be ready for IPO as early as possible, exec tells Il Sole 24 Ore

Employees of German car manufacturer Porsche install the windshield of a Porsche 911 at the Porsche factory in Stuttgart-Zuffenhausen, Germany, February 19, 2019. Picture taken February 19, 2019. REUTERS/Ralph Orlowski/File Photo Register now for FREE unlimited access to Reuters.com Register MILAN, Sept 10 (Reuters) – Porsche AG wants to be ready for a planned stock … Read more

Volkswagen expected to rubber-stamp landmark Porsche IPO plan -source

Volkswagen expected to rubber-stamp landmark Porsche IPO plan -source

Attendees look at the 2022 Porsche 718 Cayman GT4 RS during the 2021 LA Auto Show in Los Angeles, California, U.S. November 17, 2021. REUTERS/Ringo Chiu Register now for FREE unlimited access to Reuters.com Register HAMBURG/FRANKFURT, Sept 5 (Reuters) – Volkswagen’s (VOWG_p.DE) supervisory board is expected to approve a plan to list sportscar maker Porsche … Read more

China’s scorching southwest extends power curbs as drought, heatwave continue

China’s scorching southwest extends power curbs as drought, heatwave continue

China announces 11th consecutive heat ‘red alert’ Sichuan extends industrial power use curbs until Aug. 25 Chongqing cuts working hours of commercial venues Shortages could affect Tesla SHANGHAI, Aug 22 (Reuters) – China’s scorched southwestern regions extended curbs on power consumption on Monday as they deal with dwindling hydropower output and surging household electricity demand … Read more