Workers in Shanghai struggle to get back to work

Workers in Shanghai struggle to get back to work

Tesla’s Shanghai factory was “back up and running” as of Wednesday, according to CEO Elon Musk’s comments during a quarterly earnings call, per a StreetAccount transcript. This picture shows the factory on the outskirts of Shanghai in July 2021. Vcg | Visual China Group | Getty Images BEIJING — Foreign businesses are struggling to bring … Read more

Chinese EV maker Nio says it’s gradually resuming production after Covid halt

Chinese EV maker Nio says it’s gradually resuming production after Covid halt

In February 2020, Nio got a lifeline of financing support led by the government of Hefei city, where the electric car start-up has established its China headquarters. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car company Nio said Thursday it is gradually resuming production at a facility several hours’ drive west … Read more

Porsche taking stake in ‘e-fuels’ maker Highly Innovative Fuels Global

Porsche taking stake in ‘e-fuels’ maker Highly Innovative Fuels Global

A Porsche 911 Carrera 4S stands in the evening light in a drive-in cinema on the circuit of the Leipzig Porsche factory. Jan Woitas | picture alliance via Getty Images DETROIT — Porsche is upping its investment in the development of climate-neutral “e-fuels” made to replace gasoline in traditional combustion engines. The German automaker, owned … Read more

Russian car sales have collapsed since the invasion of Ukraine

Russian car sales have collapsed since the invasion of Ukraine

London CNN Business — Auto sales in Russia plummeted by almost two-thirds in March, as the war in Ukraine, Western sanctions and an exodus of foreign businesses wreaked havoc on the country’s economy. Just 55,000 new cars and light commercial vehicles were sold in Russia last month, down 63% from March 2021, according to data … Read more