Category: industrial
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Warren Buffett’s Berkshire Hathaway quietly made a $8.2 billion acquisition that taps into the electric-vehicle boom
Warren Buffett’s Berkshire Hathaway quietly made a multibillion-dollar acquisition in January, the company’s annual report shows. The deal promises to boost its exposure to the booming electric-vehicle industry. The famed investor’s conglomerate purchased 41.4% of Pilot Travel Centers for about $8.2 billion on January 31. The transaction lifted Berkshire’s ownership of the business to 80%, as it originally bought a 38.6% […]
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South Korea’s EV battery leader bets on US growth to dethrone China rival
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Tesla rival Rivian’s stock sinks 13% after the EV maker’s output forecast comes in well below expectations
Tesla rival Rivian‘s stock price sank after its 2023 production forecast came in well below expectations and it issued its third recall in 16 months. The electric-vehicle maker’s shares were down 13.2% at $16.76 at last check in early trading Wednesday, after it warned that supply-chain bottlenecks would continue to hinder its output this year. Rivian posted […]
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Tata Motors bags India’s largest electric vehicle fleet order from Uber
Tata Motors, India’s largest electric passenger vehicle manufacturer, has signed an agreement with ride-hailing company Uber to supply 25,000 electric vehicles (EVs), the company said. The agreement is the largest EV commitment between an automotive manufacturer and a ride-sharing platform in India. Under the agreement, Uber will deploy Tata Motors’ XPRES-T EVs by partnering fleet operators in Delhi National Capital Region, […]