BEIJING (Reuters) -China's Geely Automobile Holdings Ltd said on Tuesday it and its parent Zhejiang Geely Holding Group will form a joint venture for electric vehicles (EV) and launch a new brand called Zeekr, after its profit fell 32% last year.
Major U.S. airline and travel groups on Monday urged the government to develop a plan to reopen international borders this summer, assuming COVID-19 vaccine and case counts continue to move towards positive trends.
General Motors Co on Monday said it saw no reason to cut auto production in Brazil due to the worsening pandemic, striking a different tone to two other vehicle manufacturers who have curbed production, citing health concerns.
Swedish truckmaker Volvo said on Monday that a shortage of semiconductors would have a substantial impact on production in the second quarter.
California's two U.S. senators are urging President Joe Biden to set a firm date to phase-out gas-powered passenger vehicles as the White House grapples with how to rewrite vehicle emissions rules slashed under President Donald Trump.
Shares of Tesla jumped over 6% on Monday, getting a lift from a bullish report from Ark Invest, an influential shareholder in the electric car maker.
Volkswagen's Spanish automaker SEAT wants to locate a battery assembly plant near its Barcelona factory to support electric car production there from 2025, providing it gets financial and other support from Spanish and EU authorities, its chairman said on Monday.
Toyota, Nissan, Honda and other Japanese carmakers scrambled on Monday to assess the impact on their production of a fire at a Renesas Electronics chip plant that could aggravate a global semiconductor shortage.
Americans Michael Taylor and his son Peter could face jail terms of up to three years after Tokyo prosecutors charged them on Monday with illegally helping former Nissan Motor Co Ltd Chairman Carlos Ghosn flee Japan more than a year ago.
Volkswagen and BMW's plans to grab market share in the fast-growing electric car market and challenge Tesla could shift the dial for their cheaply priced shares.
Shares of Taiwan's Foxconn rose as much as 3.6% on Monday after Vietnam conglomerate Vingroup said its car unit was in early stage talks with Foxconn about working together on developing batteries and electric car parts.
Canadian Pacific Railway Ltd agreed on Sunday to acquire Kansas City Southern in a $25 billion cash-and-stock deal to create the first railway spanning the United States, Mexico and Canada, standing to benefit from a pick-up in trade.
Japan's Renesas Electronics, a key automotive semiconductor supplier, said on Sunday that production at a fire-damaged plant will take at least a month to restart, potentially worsening a chip shortage that is disrupting car production.
Cathie Wood's Ark Invest said it expects Tesla Inc's share price to reach the $3,000 mark by 2025.
The impact of the global semiconductor shortage on the auto industry spread on Saturday, as Stellantis warned its highly profitable pickup trucks were hit, while Ford Motor Co said it would cut more U.S. production.
Tesla Inc chief executive Elon Musk said on Saturday his company would be shut down if its cars were used to spy, his first comments on news that China's military has banned Teslas from its facilities.
Europe's airlines and travel sector are bracing for a second lost summer, with rebound hopes increasingly challenged by a hobbled COVID-19 vaccine rollout, resurgent infections and new lockdowns. Airline and travel stocks fell on Friday after Paris and much of northern France shut down for a month, days after Italy introduced stiff business and movement curbs for most of the country including Rome and Milan. The setbacks hit recovery prospects for the crucial peak season, whose profits typically tide airlines through winter, when most carriers lose money even in good times.
The Chinese military has banned Tesla cars from entering its complexes, citing security concerns over cameras installed on the vehicles, two people who have seen notices of the directive told Reuters.
U.S. Secretary of Commerce Gina Raimondo said on Friday that addressing a shortage of semiconductors is top of mind, following a meeting with semiconductor industry executives.