German carmakers step on Chinese electric pedal

  • 📰 Breakingviews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

United States Headlines News

United States Latest News,United States Headlines

German carmakers step on Chinese electric pedal: sharonlamhk CGAThompson

German automaker Volkswagen said on May 29 it will invest around 1 billion euros for a 50% stake in the state-owned parent of Anhui Jianghuai Automobile Group , and also raise its stake in an existing electric vehicle joint venture with JAC to 75% from 50%. The joint venture will launch five more electric models by 2025 and establish a car manufacturing base.

In a separate transaction, Volkswagen will invest 1.1 billion euros for a 26.5% stake in electric-battery maker Gotion High-tech, becoming its biggest shareholder, Reuters reported on May 29. Daimler plans to invest in Farasis Energy’s planned $480 million IPO, to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, Reuters reported on May 26, citing sources.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 470. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

German employment outlook improves slightly: IfoGerman companies expect their total number of employees will continue to shrink, though the outlook for hiring has improved slightly in May after collapsing the previous month as a result of the coronavirus crisis, according to an Ifo institute survey. GeorgeFloyd JusticeForGeorgeFloyd notmyresponsibility
Source: Reuters - 🏆 2. / 97 Read more »

FedEx set to take stake in German deliver firm Hermes: reportU.S. logistics company FedEx Corp is close to taking a stake in German parcel delivery firm Hermes, the Handelsblatt newspaper reported on Wednesday. Would be cool if they put an image of winged sandals on the far right 'foot' of the 'X'! Right? Think about it! LOL! I hope their service is better there than it is here...
Source: Reuters - 🏆 2. / 97 Read more »

German economy likely to shrink 6.6% this year due to coronavirus: IfoThe German economy is likely to shrink by 6.6% this year as a consequence of the coronavirus crisis before growing by 10.2% in 2021, the Ifo Institute said on Thursday in its latest update. Interesting
Source: Reuters - 🏆 2. / 97 Read more »

Facebook German privacy case referred to European CourtThe German Federal Court on Thursday referred a lawsuit filed by a consumer protection watchdog alleging privacy violations by Facebook to the Court of Justice of the European Union to seek clarification on the applicable law.
Source: Reuters - 🏆 2. / 97 Read more »

German businesses don't expect quick return to normal: IfoGermany's economy is likely to shrink by 6.6% this year as businesses expect it will take nine months on average before operations return to normal after the coronavirus, the Ifo Institute said on Thursday. please kindly follow I promise to follow back
Source: Reuters - 🏆 2. / 97 Read more »

The curious tale of a West German band, a power ballad and the CIAAfter a few episodes of “Wind of Change”, the notion that “the Company” might write a soft-rock hit for Scorpions does not sound risible praddenkeefe Twitter should fact check The Economist praddenkeefe tortuliapodcast praddenkeefe It is an enjoyable podcast. I couldn't stop listening I had to hear how it ended.
Source: TheEconomist - 🏆 6. / 92 Read more »