China's AutoX launches self-driving robotaxi project in Shenzhen

China's AutoX launches self-driving robotaxi project in Shenzhen

(ATF) Chinese self-driving car technology continued to leap ahead this week, as internet giant Baidu received a permit from California to test its cars without a driver behind the wheel, while autonomous driving pioneer AutoX launched its driverless RoboTaxi programme to the public in Shenzhen. Although self-driving vehicles are designed …

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EV firm Faraday Future gearing up to go public in $3.4bn SPAC deal 

EV firm Faraday Future gearing up to go public in $3.4bn SPAC deal 

Faraday Future will go public through a merger with Property Solutions Acquisition Corp in a deal valuing the combined entity at $3.4 billion, becoming the latest electric-vehicle firm to join the blank-check dealmaking frenzy. With the global EV business, dominated by the likes of Tesla, growing at an explosive pace, …

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Nissan’s all-EV pledge for key markets by early 2030s 

Nissan’s all-EV pledge for key markets by early 2030s 

Nissan Motor Co has promised that all its "new vehicle offerings" in its key markets across the globe will be electrified by the early 2030s. As part of the Japanese automaker's efforts to achieve carbon neutrality by 2050, it said it will now pursue battery innovations, including as solid-state batteries, …

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EVs set to power Hyundai sales surge in US and China 

EVs set to power Hyundai sales surge in US and China 

The Hyundai Motor Co says it expects new electric cars and sports utility vehicles (SUVs) will drive a sales surge in the United States and China this year, after reporting its best quarterly profit in over three years. Hyundai's holiday-quarter profit jumped 57% on the back of more demand for …

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Nio stock lifted by Nomura report; Evergrande makes EV pitch

Nio stock lifted by Nomura report; Evergrande makes EV pitch

(ATF) Chinese electric vehicle (EV) firm Nio was boosted by a ‘buy’ rating from Nomura that drove another 6% rise in its Nasdaq stock price on Friday January 22, while property firm Evergrande raised $3.4 billion to join the EV rush on Sunday. Nomura initiated coverage of electric vehicle firm …

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Taiwan asks TSMC to explain the shortage of semiconductors 

Taiwan asks TSMC to explain the shortage of semiconductors 

(ATF) – Taiwan’s economics minister has grilled executives from Taiwan Semiconductor Manufacturing Co to explain the global shortage of automotive microchips, the ministry said on Monday January 25. The minister, Wang Mei-hua, said TSMC told them they would “optimise” the production process of chips to make it more efficient and …

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Cathay Pacific warns of capacity cuts if it’s landed with quarantine rules  

Cathay Pacific warns of capacity cuts if it’s landed with quarantine rules  

Cathay Pacific Airways has warned its passenger capacity could be cut by about 60% and its monthly cash burn rise if Hong Kong installs new measures that require flight crew to quarantine for two weeks. Hong Kong's flagship carrier said the expected move will increase cash burn by about HK$300 …

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