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Markets

Why are these 6 top European carmaker stocks trading at record lows?

European car manufacturers, including BMW, Mercedes, and Volkswagen, face sharp stock declines due to weak demand in China, rising competition, and high electric vehicle costs, pushing investor pessimism to record levels.

Business

Why are European carmakers struggling in the electric vehicle market?

European carmakers are struggling in the global electric vehicle market, with key brands like Stellantis, Mercedes and Volkswagen losing ground to competitors. High costs and limited new models are hindering growth, with BMW being a rare exception among European brands.

Business

Battery giant Northvolt to lay-off staff amid EV market slowdown

Northvolt has announced that it would be laying off a large part of its workforce and selling or consolidating several sites as the electric vehicle (EV) market slows down.

Business

Spain's Sánchez seeks to temper trade war during talks in Beijing

The two leaders both made statements in favour of free trade and promotion of cultural exchanges and tourism, according to state broadcaster CCTV, but did not announce any specifics in the ongoing electric vehicles dispute.

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Green News

Why is Hungary becoming a hotspot for lithium battery plants?

People are continuing to resist the factory through street protests, court cases and toxic air monitoring.

Economy

Industrial decline in Hungary accelerates as car production drops

The outlook for Hungarian industry remains pessimistic with last month's output improvement appearing to be an anomaly.

Business

Volvo ditches plans to make only electric vehicles by 2030

Volvo Cars has abandoned its plan to become a fully electric car manufacturer by 2030 due to weakening consumer demand for pure electric vehicles. This shift marks the latest change among major car manufacturers.

Business

EU electric car sales stall as Germany lifts its foot off the pedal

Sales of electric cars have dropped off particularly in Germany as government financial incentives for electric vehicles slowed down. Consumers are also spending less amid fears of problems with the economy.

Lifestyle

Take a look at the uber-luxury supercars up for sale at Salon Privé

New fabulous four-wheeled supercars worth millions can be seen this weekend at the exclusive Salon Prive motor show at Blenheim Palace.

Economy

China holds off on EU brandy tariffs as subsidy spat drags on

Beijing moves to de-escalate trade tensions after the EU imposed tariffs on Chinese electric vehicles.

Business

Canada to impose 100% tariff on Chinese-made electric vehicles

In alignment with the US, Canada announced a 100% tariff on Chinese-made EVs, including those produced by Tesla. Tesla’s shares fell by 3% on Monday in response to the news.

Europe News

Brussels moves closer to slapping definitive tariffs on Chinese EVs

The EU executive says it stands ready to reach an alternative solution, compatible with WTO principles, with the Chinese government.

Business

Porsche moves in with deal to help stalling German battery maker Varta

Porsche's decision to support Varta will allow the luxury car maker to have access to high-performance batteries for its hybrid and electric cars.

Eco-Innovation

Japan unveils plans for a CO2-busting conveyor belt road system

Japan’s 500 km Autoflow-Road could slash emissions, worker shortages and traffic.

Business

EU member states set to back tariffs on Chinese EVs, says trade chief

Tariffs could come into force in November after a vote in late October.

Mobility

Uber, BYD to introduce 100,000 EVs in Europe and Latin America

The companies said the plan would help accelerate the switch to EVs and that they also plan to collaborate in introducing autonomous-capable EVs on the Uber platform.

Europe News

Italy and China to boost economic ties following Meloni-Xi meeting

Evoking the old Silk Road travelled by Marco Polo, Meloni said her five-day trip to China aims to relaunch bilateral cooperation with Beijing.

Markets

Big tech shares set to waver as Tesla and Alphabet disappoint markets

The two major tech earnings are pressuring Wall Street, with futures pointing to a lower opening on Wednesday. The souring sentiment may ripple through the European markets as LVMH also failed to cheer investors.

Markets

What to expect from Tesla results? Energy storage and AI in focus

Tesla’s revenue for the second quarter may continue declining amid a slowdown in sales. However, the development of robotaxis and energy storage may become the focal point for its market valuation.

Business

French car maker Renault posts 1.9% rise in first-half sales volume

The surge in sales was largely due to the strong performance of the company's hybrid models in Europe.