Germany has managed to fill its gas reserves to 91.32% of capacity, allaying fears it could run out this winter after Russian gas flows fell sharply following European sanctions over the invasion of Ukraine — but it has come at a price. One in ten mid-sized companies, which provide nearly two thirds of German jobs, have cut or
In Coimbatore, a city that manufactured one of India’s first homemade diesel engines, K. Rajesh finds himself at a crossroads as automakers rush to produce more electric vehicles (EVs).
India’s Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a car industry in need of domestic battery production to help secure its future. The announcement marks Britain’s biggest move in the car gigafactory space as it seeks to keep up with the
The US economy likely maintained a moderate pace of growth in the second quarter as labour market resilience underpinned consumer spending, while businesses boosted investment in equipment and built more factories, potentially keeping a much-feared recession at bay. The Commerce Department’s snapshot of second-quarter
German services sector activity grew in March at the fastest pace since last May as demand strengthened and spurred job creation, a business survey showed. S&P Global’s final services Purchasing Managers’ Index (PMI) for Germany rose to 53.7 in March from 50.9 in February, climbing well above the 50.0 threshold that separates growth
A senior Volkswagen AG China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy
Volvo Cars has struck a deal to buy out parent company Zhejiang Geely Holding from their joint ventures in China, in a move that could make a potential initial public offering (IPO) for the Swedish automaker more attractive to investors.
Toyota Motor Corp forecast its profit would bounce back to pre-pandemic levels this year, as the world’s biggest automaker exuded confidence it can tackle a global chip shortage that has stung its rivals. Japan’s top automaker, which has been stockpiling the
NASA awarded billionaire entrepreneur Elon Musk’s space company SpaceX a $2.9 billion contract to build a spacecraft to bring astronauts to the moon as early as 2024, the agency said on Friday, picking it over Jeff Bezos’ Blue Origin and defense contractor Dynetics Inc.