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Jul 21

How The Middle East Is Preparing For The Post-Oil, EV Era Of Transportation

  • Saudi Arabia has been working on its own brand of electric vehicles, Ceer, and plans to install 50,000 domestic EV charging stations by 2025.
  • The U.S. and China are also bringing brands to the Mideast. GM is preparing to launch the Cadillac Lyriq, GMC Hummer EV and Chevrolet Bolt EUV in the Middle East this year, while Ford intends to launch EVs in the region in 2024.
Jul 21

Tesla Shares Down On Slimming Margins, Cybertruck Concerns

  • Shares of electric auto maker Tesla fell by more than 7% on Thursday.
  • Tesla CEO Elon Musk and other execs on the earnings call warned production would slow down during Q3 due to shutdowns for factory improvements. 
  • Investors soured on initially positive results due to imprecise commentary from CEO Elon Musk and other executives on the company’s latest vehicle, Cybertruck, and a planned robotaxi-ready car.
Jul 19

Tata Chooses UK For $5 Billion Jaguar Land Rover Gigafactory

  • India's Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a car industry in need of domestic battery production to help secure its future.
  • The announcement marks Britain's biggest move in the car gigafactory space as it seeks to keep up with the United States and European Union in the race to develop green industries.
Jul 19

Sources: Nissan, Renault Ready To Announce New Alliance

  • Nissan and Renault will make an announcement in the coming days on their restructured alliance and have finalised the deal, three people familiar with the matter said, capping 10 months of sometimes tense negotiations.
  • The automakers announced a framework agreement in February and had aimed to finalise negotiations as early as March.
  • Under the framework, the Japanese automaker would take as much as 15% of Renault's new electric vehicle unit, Ampere, while Renault would reduce its 43% stake in Nissan.
Jul 15

Tesla builds first Cybertruck after two years of delays

  • Tesla built its first Cybertruck at the electric-vehicle marker's plant in Austin, Texas, the company said in a tweet on Saturday, after two years of delays.
  • The Cybertruck launch will give Tesla an EV entrant in one of the most profitable segments of the U.S. market and a competitor to electric pickups from the likes of Ford Motor and Rivian Automotive, both of which have launched models in still-limited numbers.