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German automaker Volkswagen reported that, together with its Chinese partner, SAIC Motor, it began construction of a plant in Shanghai that will manufacture electric cars. For the first time the production of cars by this enterprise will be carried out on the basis of the modular electric drive platform MEB. Volkswagen introduced the platform in September of this year. It is planned to invest 17 billion yuan in this project. It is expected that the new plant, the capacity of which will be 300 thousand cars per year, will start operating in 2020. Earlier it was reported that Volkswagen intends to increase the number of its plants for the production of electric vehicles in Europe, China and the United States to 16 units.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil prices fell on Thursday after OPEC+ agreed to lessen output cuts from August, though the decline was dampened by a recovery in demand as U.S. crude stocks had an unprecedented drop. Brent crude slid 0.3%, or 13 cents, at $43.66 per barrel. ...
Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 ...
Tesla Inc will be manufacturing mobile molecule printers in an attempt to aid Germany’s biotech firm CureVac in developing a potential COVID-19 vaccine, according to a tweet by the electric-car maker’s CEO Elon Musk on Wednesday. CureVac ...
The European aviation Airbus (AIR.PA) announced on Monday that its airplane production and deliveries would be 40% lower for the next two years compared to its planned pre-crisis strategy. The CEO's comments underscore the threat to jobs as ...
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