Self-driving tech firm Aurora said it agreed to purchase OURS Technology -- a lidar firm that will help Aurora manufacture large quantities of sensors.
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The British carmaker will take a non-cash charge of about $1.4 billion in the quarter ending in March related to higher previous spending and projects it won’t complete, according to an investor presentation.
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The decision to work with a partner as the Jaguar brand becomes electric-only "was a matter of scale and speed to go to market," JLR CEO Thierry Bollore said.
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The group expects revenues and deliveries to bounce back after the impact of the coronavirus pandemic and is projecting an operating margin of 5 percent to 6.5 percent for the year.
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Other than Toyota, which said this month it had enough chip inventory to last it about four months, Hyundai and its sister firm Kia are the only global automakers to have maintained a stockpile of low-tech chips that helped them keep up production.
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The global semiconductor shortage will halt production at the automaker’s factory in Saarlouis, Germany, where it builds the Focus compact car, for five weeks.
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Huawei Technologies is in talks with state-owned Changan Automobile and other automakers to use their car plants to build EVs, Reuters reported.
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Nissan said it has achieved 50 percent thermal efficiency with its in-development e-Power hybrid technology, which could lead to a further reduction of car CO2 emissions. It did not say when the technology would be launched.
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Raising cash will be vital as Fisker prepares to roll out two vehicles in as many years. The company has just under $1 billion in cash, and will spend about $450 million of it on capital expenditure this year.
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Nikola is slashing projected output of its first commercial zero-emission vehicles and said an internal review of claims about its technology concluded the startup and its founder made several inaccurate statements.
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