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DETROIT (Reuters) – Electric car giant Tesla’s decision to cut prices to drive up sales volume reflects the pressure it faces from competition and an ageing product line-up, Ford Chief Executive Jim Farley said on Thursday. Farley said Tesla’s price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market,…
DETROIT (Reuters) – Electric car giant Tesla’s decision to cut prices to drive up sales volume reflects the pressure it faces from competition and an ageing product line-up, Ford Chief Executive Jim Farley said on Thursday. Farley said Tesla’s price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market,…
HONG KONG (Reuters) – China’s BYD Co Ltd, the world’s largest electric vehicle (EV) maker, plans to build a $290 million lithium cathode factory in Chile’s northern Antofagasta region, said Chilean economic development agency CORFO. The South American country’s government has named BYD Chile a qualified lithium producer, CORFO said, giving it access to preferential…
MEXICO CITY (Reuters) -Mexico’s presidential jet has been sold to Tajikistan, the government said on Thursday, seemingly closing the final chapter on a political saga that President Andres Manuel Lopez Obrador used repeatedly to assail the excesses of his predecessors. Lopez Obrador announced in a post on Twitter that the agreed sale price for the…
CAIRO (Reuters) – Sudan’s paramilitary Rapid Support Forces (RSF) said it had agreed to a 72-hour truce on humanitarian grounds, effective from 6 a.m. (0400 GMT) Friday, offering a potential respite from a six-day military conflict with the Sudanese army. “The truce coincides with the blessed Eid Al-Fitr (Muslim holiday) … to open humanitarian corridors…
By Joe Skipper and Steve Gorman BOCA CHICA, Texas (Reuters) -SpaceX’s next-generation Starship spacecraft exploded minutes after liftoff in an uncrewed test flight from South Texas on Thursday, cutting short a key step in Elon Musk’s development of a rocket vessel to eventually take humans to the moon and Mars. The flight test was the…
By Steve Gorman and Arlene Eiras LOS ANGELES (Reuters) – The spectacular explosion of SpaceX’s new Starship rocket minutes after it soared off its launch pad on a first flight test is the latest vivid illustration of a “successful failure” business formula that serves Elon Musk’s company well, experts said on Thursday. Rather than seeing…
By Steve Gorman and Arlene Eiras LOS ANGELES (Reuters) – The spectacular explosion of SpaceX’s new Starship rocket minutes after it soared off its launch pad on a first flight test is the latest vivid illustration of a “successful failure” business formula that serves Elon Musk’s company well, experts said on Thursday. Rather than seeing…
TOKYO (Reuters) – The Group of Seven (G7) countries are considering a near-total ban on exports to Russia, Kyodo news agency reported on Friday, citing Japanese government sources. Bloomberg news on Thursday also reported that the United States and Ukraine’s allies were considering “an outright ban on most exports to Russia”. That report said officials…
SHANGHAI (Reuters) -China’s Foreign Minister Qin Gang said on Friday that both sides of the Taiwan Strait belong to China, and that it is right and proper for China to uphold its sovereignty. Qin made the remarks at the Lanting Forum in Shanghai, where he discussed a wide range of topics from debt, the global…
