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Market analysts and traders called it a near-term profit-taking, triggered by the company's plan to raise $5 billion from the market and the stake sale by the second largest shareholder Baillie Gifford, in a stock that has surged fivefold in 2020. Meanwhile, Edinburgh-based Baillie Gifford told Herald Scotland the investment firm remains a "strong supporter" of Tesla, but had to sell its passive stake due to norms that limit the weight of a stock in clients' 文件夹s. Gifford cut its stake t
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San Jose-based QuantumScape, a 2010 spinout from Stanford University, said it will form a joint venture with VW to produce solid-state battery cells, starting in 2024, for the German automaker's electric vehicles, and eventually for other carmakers. "Our ambition is to be a (battery) supplier to the industry as a whole," QuantumScape founder and CEO Jagdeep Singh said in an interview.
A Minnesota man who attended the Sturgis Motorcycle Rally in South Dakota last month has died from COVID-19, Minnesota health officials reported on Wednesday. It is the first reported coronavirus death that might be linked to the biker rally. The 10-day rally went forward despite fears it could become a super-sp阅读 event, with South Dakota Gov. Kristi Noem welcoming bikers and the tourist dollars they spend.
Ford Motor Co said on Wednesday it is targeting the elimination of 1,400 U.S. salaried jobs by year end as part of a multiyear $11 billion restructuring. "We’re in a multiyear process of making Ford more fit and effective around the world," Ford's Americas President Kumar Galhotra said in the email. Ford has said it was targeting a 10% operating margin in North America.
Daimler was set on Wednesday to launch the new model of its Mercedes-Benz S-Class luxury sedan, which it hopes will help return the German carmaker to profitability next year after the coronavirus pandemic slashed demand for high-end vehicles. Daimler has launched a new S-Class every seven years for decades but this year's launch of its most profitable model is particularly important for the company as it battles the fallout from the pandemic and a costly switch to electric cars. "The S-Class
The chief executive of Rolls-Royce said demand for his company's luxury cars is rebounding, helped by sales in Asia, and he is optimistic about the outlook for next year after the coronavirus pandemic hit consumer confidence and closed dealerships. Torsten Muller-Otvos said the demand meant Rolls-Royce Holdings Plc was the first car company to resume car production in the United Kingdom on May 4. "We see a very fruitful business now coming back from Asia, also Europe is coming back on t
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