Automotive industry
Theeb Rent a Car Company has announced the distribution of interim cash dividends to its shareholders for the second quarter of 2025. As per the Board of Directors' resolution, a total of 23.65 million SAR will be distributed among 43 million eligible shares. Each share will receive a
Tariffs
A Nelson Mandela Bay engineering company, ROVD, has suspended a major factory build and implemented a four-day work week, anticipating significant job losses and potential offshore manufacturing due to 30% export tariffs imposed by US President Donald Trump. The company, which has been a stalwart of the automotive manufacturing industry
Tariffs
As Prime Minister Mark Carney prepares to meet with Canadian premiers to discuss the country's response to US tariffs, Ontario Premier Doug Ford has warned that the trade war is hurting American businesses and workers. In a press conference, Ford cited statistics showing the US auto industry has
Electric vehicles
The Public Utilities Commission of the State of Colorado has issued a decision denying the application for rehearing filed by the Office of the Utility Consumer Advocate (UCA) regarding the Public Service Company of Colorado's electric vehicle incentive plan. The UCA had requested that the Commission modify the
Electric vehicles
Tesla has approved the award of 96 million restricted shares to its CEO, Elon Musk, worth $29 billion, in an effort to retain him after a previous multibillion-dollar package was blocked by the courts. The special committee composed of Robyn Denholm and Kathleen Wilson-Thompson agreed on the interim award, designed
Electric vehicles
The Chinese carmaker BYD is reportedly using Turkey to circumvent European tariffs on Chinese electric cars, sparking concerns over the impact on European industry. According to a Reuters article, BYD will import necessary parts into Turkey with zero tariffs, where final assembly will be carried out before being exported to
Tariffs
Mexico's automotive sector has been paralyzed by the US's 25% tariff on vehicles, leading the head of the Mexican Auto Industry Association to warn of a "disastrous" situation that could be felt by American and Canadian carmakers as well. The industry is pushing for
Electric vehicles
Tesla's electric vehicle maker, has rewarded its billionaire CEO Elon Musk with a $29 billion stock grant, citing his transformative growth and leadership of other companies, including SpaceX and xAI. The move comes as the company faces declining sales, profits, and stock price due to Musk's
Automotive industry
After a US court ruling, Tesla's board has approved a $30bn (£23bn) share award for its CEO, Elon Musk, following a prior pay deal worth $56bn that was rescinded in 2024. The award is seen as a "good faith" payment to Musk after the previous deal
Tariffs
The US auto industry, once expected to reap the benefits of Donald Trump's trade war, has emerged as one of the biggest victims. The global car industry has been reeling from collapsing market share in China, rising costs of shifting away from the internal combustion engine, and tepid
Motor vehicle drivers
As car owners consider modifying their vehicles to enhance their performance and appearance, they are being warned about the potential consequences of these changes on their insurance premiums. According to recent research by used car retailer cinch, modifying a car's suspension and other performance-focused upgrades can result in
Tariffs
Following an investigation by the Secretary of Commerce, the US President has proclaimed that imports of copper, including semi-finished copper products and derivatives, threaten to impair US national security. The Commerce Department found a decline in domestic production and a dependence on foreign sources, leading to a 50% tariff on
