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For the first half of this decade, Southeast Asia served as an open playing field for global Battery Electric Vehicle (BEV) manufacturers.
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Geely Auto is introducing China’s best-selling car to the UK market this month.
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Addressing thousands of staff at the Wolfsburg site on Tuesday (25 August), Blume said the reductions were unavoidable given that the company's fixed costs run 30% above those of rival manufacturers.
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Under the terms agreed, monthly base pay will rise by Won100,000 ($72.20), alongside a performance bonus worth more than 400% of monthly salary and a separate lump-sum payment of Won12.5m.
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Waymo vehicles will begin appearing on Munich's roads under manual control “in the coming weeks”.
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The transaction, part of Porsche’s Sportwagenschmiede 35 plan, will see a TCS subsidiary acquire full ownership of MHP Management- und IT-Beratung.
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The market continues to be driven by surging demand for BEVs.
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The move consolidates two previously separate operations into one corporate entity, encompassing both UK sportscar production and engineering consultancy services.
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SKIET’s operations will be absorbed into SK Innovation, strengthening its long-term competitiveness.
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The additional US$29m investment follows a supply deal with a German automaker.
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