Volvo’s sport utility vehicles at a plant in Taizhou, China. Reuters
Volvo Cars on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-US trade war were denting profitability.
Swedish truckmaker Volvo’s first commercial autonomous truck deal shows how it is bundling services to generate revenue from a technology that is years away from wide deployment.
Asian cities are switching to electric vehicles in a bid to tackle worsening air quality, cut climate changing emissions, and expand their public transport networks, climate experts said on Friday.
Volkswagen plans to build half a dozen battery cell plants in Europe and expand infrastructure for charging electric vehicles globally, accelerating efforts to overtake Tesla and speed up mass adoption of battery-powered cars.
International Monetary Fund (IMF) Managing Director Kristalina Georgieva flagged rising inflationary pressures and China’s economic slowdown as risks to Asia’s economic outlook,
The Middle East market for security, safety, and fire protection is on track for double-digit growth over the next four years, as regional governments and the private sector look for improved technologies
US job growth was likely the smallest in nearly two years in November as mounting worries of a recession cooled demand for labour, which could give the Federal Reserve confidence