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Xiaomi Imposed CNY 1 Million Fine on Supplier for Leaking Car Design Drafts

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China’s Xiaomi said on Thursday it had imposed a CNY 1 million (roughly Rs. 1 crore) penalty on a supplier after it leaked early design drafts of an upcoming car model. On its official Weibo page, a spokesperson wrote Xiaomi had “dealt seriously” with a Beijing-based moulding technology company which on January 22 publicly revealed […]

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Renault-Nissan Said to Plan India Reboot, Nissan to Invest in Renault’s Electric Vehicle Unit

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A revamped alliance between Renault and Nissan will face an early test in India, where the automakers plan new investment in a bid to close the gap on rivals, people with knowledge of the plans told Reuters. The automakers reached a deal in principle on Monday to restructure their two-decade partnership by putting both companies

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Elon Musk’s Fate on Tweet Concerning Tesla’s Inflated Share Price to Be Revealed Today

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A lawyer for Tesla shareholders who claim Elon Musk deceived them when he tweeted that he had secured funding to take his electric car company private is expected to make closing arguments to a San Francisco jury on Friday. A jury of nine will decide whether the tweet artificially inflated Tesla’s share price by playing

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Elon Musk Found Not Liable in 2018 Tweets Regarding Tesla’s Share Price

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A jury on Friday decided Elon Musk didn’t defraud investors with his 2018 tweets about electric automaker Tesla in a proposed deal that quickly unravelled and raised questions about whether the billionaire had misled investors. The nine-member jury reached its verdict after less that two hours of deliberation following a three-week trial. It represents a

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Nissan to Buy Up to 15 Percent Stake in Renault’s Electric Vehicle Unit

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Japanese car maker Nissan will buy a stake of up to 15 percent in Renault’s electric vehicle (EV) unit Ampere, the pair said on Monday, in a reboot of a long and sometimes contentious alliance that will also create more common car platforms. The agreement, which came after months of tense talks, includes the previously

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Elon Musk Set to Unveil ‘Master Plan 3’ at Tesla Investor Day on March 1

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Part 3 of Tesla’s so-called Master Plan about the “path to a fully sustainable energy future for Earth” will be presented on March 1, Chief Executive Officer Elon Musk wrote in a Twitter post Wednesday. The plan has been a while in the making, with Musk tweeting in March that it was in the works.

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Zypp Electric Raises $25 Million Funding, Aims to Expand to Mumbai, Chennai by 2025

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Zypp Electric said on Wednesday it has raised $25 million (nearly 206 crore) in a series B funding round led by Taiwanese battery-swapping service provider Gogoro, as the Indian electric vehicle startup looks to expand to new cities and boost its fleet size. The funding round marks Gogoro’s latest effort to expand in India, where EVs

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Uber Earned Profits in 2022 as Demands for Airport, Office Rides Increased in Post-Pandemic World

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Uber Technologies said on Wednesday it would focus on delivering profits this year, after rounding off 2022 with blowout earnings as a surge in demand for airport and office rides helped the company rebound from pandemic lows. Uber’s shares rose nearly 4 percent at midday after the rideshare giant reported a surprise fourth-quarter profit and Chief Executive

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Ola Electric Announces Lower Variant of S1, Lineup for S1 Air

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Ola Electric will open 500 experience centres across India by March this year as it seeks to be closer to consumers, company founder and CEO Bhavish Aggarwal said on Thursday. The company, which currently has 200 experience centres across the country, is also planning to bring an electric bike to the market. Ola’s experience centres

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Nissan, Renault to Invest $600 Million to Make Six New Models, Including Two EVs, in India

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Nissan Motor Co and Renault SA said on Monday they would invest $600 million to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week. The move will help address falling market shares for the Japanese and French companies

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