Month: February 2023

ROME — Stellantis has invested $155 million to buy a minority stake in a copper mine in Argentina as part of its global push to secure raw materials for electric-vehicle batteries. The company acquired a 14.2 percent stake in McEwen Copper, a subsidiary of Canada’s McEwen Mining, which owns the Los Azules project in Argentina,
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5:00 AM ET Struggling with where your support should lie this Formula One season? This is the guide for you. Although without Sebastian Vettel, Daniel Ricciardo and Mick Schumacher this year, F1 is packed full of great drivers and compelling characters. There’s plenty of candidates for your favourite team or driver in 2023. Here we
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MILAN — Stellantis plans to cut as many as 2,000 jobs in Italy this year to further reduce its workforce in Fiat’s former home country as the transition to electric vehicles takes its toll. The automaker, formed from the merger of PSA Group and Fiat Chrysler, and local unions agreed on the reductions that represent
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American Car Center last week told employees the business was closing its doors, a day after it pulled a $222 million bond sale from the market, according to people familiar with the matter. The used car lender, which tends to target consumers regardless of their credit history, said in an email to employees the firm
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SHANGHAI — CATL, the world’s largest battery maker, has offered to cut costs for Chinese automakers, a move that demonstrates its market power and could also widen China’s cost advantage in electric vehicles. China’s CATL has offered smaller domestic electric-vehicle makers discounted prices on batteries, according to four people with knowledge of the terms. The discount
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In this article FSR FSR Follow your favorite stocksCREATE FREE ACCOUNT Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Patrick T. Fallon | AFP | Getty Images Electric
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LONDON — Recharge Industries has bought Britishvolt, the collapsed startup which had struggled to fund a major electric-vehicle battery factory in northern England, the Australian company said in a statement. Recharge Industries, privately owned by New York-based investment fund Scale Facilitation, emerged this month as the preferred bidder for Britishvolt, which had outlined plans for
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Volkswagen Group will build its own production plant in the U.S. for its new Scout brand, company sources told Automotive News Europe sister publication Automobilwoche. The automaker was considering using contract manufacturers Foxconn or Magna to build the vehicles. However, those plans are off the table. “The decision to build the plant ourselves has been
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Feb 23, 2023 SAKHIR, Bahrain — Reigning world champion Max Verstappen started the 2023 Formula One season where he left off in 2022 by topping the first morning of testing in Bahrain. The Red Bull driver set a 1:32.959 — 2.5 seconds off last year’s pole position time at the same circuit — as all
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Twice a year, roughly 50 luxury vehicle clients get a chance to drive their vehicles on Sebring International Raceway, North America’s oldest permanent road racetrack. Select vehicle owners who attend Dimmitt Automotive Group’s track days can drive at high speeds at novice, intermediate or advanced levels. “Sure, highway speeds can make an engine purr, but
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