Automotive industry
Governments and taxpayers around the world, including Ontario's, have made massive bets on the electric-vehicle (EV) revolution, but it appears the industry is losing steam. Porsche and Ferrari, two luxury carmakers, are the latest to reverse their EV strategies, citing high costs and declining demand. As the market
Automotive industry
Economists and markets predict the Bank of Canada will lower the policy interest rate by 25 basis points next Wednesday, despite inflation ticking up last month, as the unemployment rate remains too high and companies continue to hold back spending amid tariffs and economic uncertainty. The Canadian automotive industry and
Automobiles
Canada's Liberal government has informed US-based carmakers Stellantis and GM that they will no longer be eligible for counter-tariff exemptions on autos imported to Canada due to their failure to maintain Canadian-based production. The move comes after the companies announced cuts to their auto production plans in Brampton
Automotive industry
European automakers, including Germany's Volkswagen, are bracing for supply chain disruptions due to Beijing's halt on exports of Nexperia's chips. The Dutch government's takeover of the Chinese-controlled chipmaker, which caused the export ban, has sparked concern among carmakers reliant on the company&
Automobiles
Elon Musk's proposed $1tn pay package at Tesla has been met with resistance from shareholder proxy advisers Glass Lewis and ISS, which have urged shareholders to reject the plan. The Tesla chief executive has called the advisers "corporate terrorists," claiming they have "no freaking clue&
Automotive industry
As record vehicle sales boosted Tesla's revenue, the company reported a significant drop in profit, missing earnings expectations and disappointing investors. The automaker's third-quarter earnings surpassed Wall Street's projections, but its operating income and net income fell short of expectations. Tesla's CEO,
Motor vehicle drivers
By the dawn of the 1980s, British car ownership had reached a record high, with over 60% of households possessing a car, up from less than 20% in the 1950s. During this period, the number of new private vehicle registrations increased tenfold, from around 2,000 in 1950 to over
Automotive industry
Tesla shareholders are set to vote on a proposed $1 trillion pay package for Elon Musk, which has sparked concerns over its scale and potential impact on the company's performance. Institutional Shareholder Services (ISS), a leading proxy advisory firm, has recommended that shareholders vote against the package, citing
Automotive industry
President Trump has signed a proclamation imposing a 25% tariff on medium- and heavy-duty trucks imported into the United States, effective November 1. The move is aimed at supporting the American auto industry, which has been negatively impacted by Trump's trade policies. As part of the relief measures,
Automotive industry
Elon Musk's remarkable journey in the tech industry has propelled him to unprecedented heights, as his net worth surpassed $500 billion, a record previously thought unattainable. This achievement marks a significant milestone for Musk, solidifying his position as the richest person alive. Musk's astronomical wealth is
Cyberterrorism
The UK government has confirmed a £1.5 billion loan to Jaguar Land Rover (JLR) to help the company recover from a crippling cyber attack that forced the shutdown of its production lines in the UK. The loan, guaranteed by the government, will be used to bolster JLR's
Cyberterrorism
Jaguar Land Rover is working to clear a backlog of payments to suppliers, many of whom have been left reeling from a production shutdown that began at the end of August. The company's IT system is reportedly back up and running in phases, but the restart has been
