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.
Tesla has started delivering Model 3 electric cars built at its Shanghai factory in just under a year since it began work on the $2 billion plant, a record for global automakers in China, and said it would ramp up deliveries from next month.
Hotels in the UAE were the world's second busiest after China in 2020 due to government efforts to contain the spread of the COVID-19 virus, encourage domestic tourism and take measures to accelerate the sector's recovery.
Foreign Minister Makhdoom Shah Mahmood Qureshi on Sunday visited Pakistani pavilion at World Expo 2020 to be held in Dubai from Oct. 1 this year.
The Sharjah Economic Development Department (SEDD) announced that the economic development indicators in Sharjah achieved a remarkable growth in the first quarter of 2021.