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Posts Tagged ‘electric car’

China’s Tesla wannabe Xpeng starts ride-hailing service

There’re a lot of synergies between electric vehicles and ride-hailing. Drivers are able to save more steering an EV compared to a gas vehicle. Environmentally conscious consumers will choose to hire an electric car. And EVs are designed with better compatibility with autonomous driving, which is expected to hit the public road in the coming ...

Volvo inks multi-billion dollar battery deals with LG Chem and CATL for EVs

Volvo Car Group has inked a massive multi-billion dollar supply deal with the Chinese battery manufacturer, CATL, and Korea’s LG Chem to supply its planned fleet of electric vehicles. The lithium ion batteries from both suppliers will power the development of Volvo Cars’ electrification strategy for its own brand and the company’s Polestar joint venture ...

EV startup Rimac scores $90M investment from Hyundai and Kia

Rimac Automobili, the European EV startup that landed an investment from Porsche last year, has again gained the backing of traditional automakers after Hyundai Motor Company and Kia Motors jointly invested €80 million, or around $90 million. Beyond the significant cash infusion, the three parties said the deal includes “a strategic partnership to collaborate on ...

Tesla first-quarter deliveries drop on challenges shipping Model 3 overseas

Tesla delivered 63,000 of its electric vehicles in the first quarter of the year, nearly a one-third drop from the previous quarter, the company reported late Wednesday. Tesla cautioned that it expects first-quarter profits to be negatively impacted by lower than expected delivery volumes and several pricing adjustments. Deliveries included about 50,900 Model 3 vehicles ...

With its Greenlots acquisition, Shell is moving from gas stations to charging stations

In a bid to show that it’s getting ready for the electrification of American roads, Royal Dutch Shell is buying Greenlots, a Los Angeles-based developer of electric vehicle charging and energy management technologies. Shell, which is making the acquisition through its Shell New Energies US subsidiary, snatched the company from Energy Impact Partners, a cleantech-focused ...

Tesla reports back-to-back profitable quarters

Tesla reported Wednesday a profit of $139 million, or $0.78 a share, and better-than-expected sales, yet failed to meet analysts expectations for earnings in the fourth quarter. Shares fell after the markets closed and are now down 1.85 percent. Tesla has managed to string together two profitable periods in a row thanks to sales of ...