By David Shepardson WASHINGTON (Reuters) -Tesla Inc is recalling just over 40,000 2017-2021 Model S and Model X vehicles that may experience a loss of power steering assist when driving on rough roads or after hitting a pothole. The Texas-based electric vehicle manufacturer has released an over-the-air software update to recalibrate the system after it…
PARIS (Reuters) – French carmaker Renault on Tuesday announced a big overhaul to split its operations into five businesses, deepen ties with China’s Geely and list its electric vehicle unit on the market from next year. Here are the main planks and financial targets unveiled in a strategy presentation to investors. FIVE BUSINESSES: Renault will…
ISTANBUL (Reuters) – Turkey has started paying for some its natural gas from Russia in roubles, Turkish Energy Minister Fatih Donmez said on Tuesday. In an interview with broadcaster TRT Haber, Donmez said that in the coming months the share of local currency payments in energy trade with Russia would increase. Russia, hit by Western…
By Norihiko Shirouzu and Gilles Guillaume BEIJING/PARIS (Reuters) -France’s Renault and China’s Geely announced a 50-50 joint venture on Tuesday for gasoline engines and hybrid technology, aiming to cut costs in what will become legacy businesses and free up resources for an electric vehicle future. The venture, which will aim to maximise sales by supplying…
LUXEMBOURG (Reuters) – Europe’s top court on Tuesday scrapped an EU order to Italian carmaker Fiat Chrysler to pay 30 million euros ($30 million) in back taxes to Luxembourg. “The Court of Justice that the General Court was wrong to confirm the reference framework used by the (European) Commission to apply the arm’s length principle…
By Isabel Kua SINGAPORE (Reuters) -Oil prices fell on Tuesday as recession concerns and worsening COVID-19 outbreaks in China sparked fears of lower fuel demand, outweighing supply worries. Brent crude fell 31 cents, or 0.3%, to $97.61 a barrel by 0434 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.4%, to…
FRANKFURT (Reuters) – Munich Re on Tuesday said it posted a 44% rise in net profit in the third quarter, despite big claims from Hurricane Ian, and it “firmly” stuck to its full-year earnings target. Net profit in the quarter of 527 million euros ($527.21 million) compares with 366 million euros a year ago when…
SHANGHAI (Reuters) – Chinese electric vehicle giant BYD said on Tuesday that it would launch a new premium brand in the first quarter of 2023. BYD said the products under the new brand will be priced above 1 million yuan ($138,096.75), without further elaboration. ($1 = 7.2413 Chinese yuan renminbi) (Reporting by Zhuzhu Cui, Zhang…
(Reuters) -British Prime Minister Rishi Sunak is poised to announce a major natural gas deal with the United States after the COP27 climate change summit, the Telegraph newspaper reported on Monday. Britain hopes the United States will promise about 10 billion cubic metres of liquefied natural gas (LNG) over the coming year, the report said,…
(Reuters) -Lordstown Motors Corp has agreed a deal under which a Foxconn affiliate will invest up to $170 million in the electric vehicle (EV) maker, making the Taiwanese contract manufacturer its biggest shareholder with a near 20% stake. Foxconn Ventures Pte Ltd will purchase 12.9 million shares on or after Nov. 22 and an additional…
