Automobile

Bloomberg Chinese electric vehicle maker Li Auto Inc has raised HK$11.8 billion ($1.5 billion) in its Hong Kong listing, adding to the cohort of US-traded mainland companies selling shares in the Asian financial hub. Li Auto priced 100 million shares at HK$118 each, it said in a statement to the city’s stock exchange. The price represents a discount of about …

Bloomberg Electric cars are better for the environment and cheaper to run. They’re gaining traction in many countries as governments strive for carbon neutrality. But one thing they don’t have on regular vehicles — that throaty roar that lights up the eyes of gearheads around the world. Yamaha Motor Co is working on a solution. Better known for its motorcycles …

Bloomberg Rivian Automotive Inc, the electric truck startup backed by Amazon.com Inc and Ford Motor Co, is in talks with the UK government on building its first manufacturing plant outside the US near the English city of Bristol, Sky News reported. The investment would probably include a large state-support package, but the UK faces competition from Germany and the Netherlands …

Bloomberg Renault SA’s chief declared the automaker is firmly on the comeback trail after a record loss, forecasting stable profitability despite the global chip shortage and rising raw material prices. The carmaker has “abandoned the approach of only looking for sheer growth,” Chief Executive Officer Luca de Meo said in a Bloomberg TV interview. “We are actually back from hell …

Bloomberg On its website, Mercedes-Benz describes the 2021 Mercedes-AMG GT63 S as “a four-door supercar.” This is a bit much, notwithstanding the fact that at 16 mpg in the city, it is about as thirsty as one. Mention a supercar built for four and image of the $1.7 million Koenigsegg Gemera would spring to mind, or the menacing and tactical …

Bloomberg Tesla Inc has sought lower taxes on import of electric vehicles in India, people with the knowledge of the matter said, as it looks to commence operations in Asia’s third-largest economy. The California-based maker of electric vehicles has written to the transport and industry ministries for reducing import duty on electric cars to 40% from the current range of …

Bloomberg Volkswagen ratcheted up its mid-decade profitability goal as it hones plans to become the electric-car leader and cash in on what it expects to be a massive new revenue stream from software. Europe’s largest automaker will target an 8% to 9% operating return on sales in 2025, up from 7% to 8% previously. After wooing investors with a Tesla …

Bloomberg Automakers’ sales soared in the second quarter as consumers snapped up sport utility vehicles and pickups, but thin inventories created by the global semiconductor shortage are tempering the pace of the industry’s recovery. General Motors Co, Toyota Motor Corp and others said that their sales soared in the most recent quarter, buoyed by pent-up demand for vehicles as Americans …

Bloomberg BMW kicked off assembling its latest electric car, using the occasion to tout green credentials it hopes will appeal to buyers and regulators who increasingly demand sustainable products. The German automaker started series production of the battery-powered iX SUV at its Dingolfing plant near Munich, which sources hydroelectric power from nearby rivers. The model is expected to go on …

Bloomberg Tesla Inc delivered 201,250 cars worldwide in the second quarter, a record for the electric-car maker led by Chief Executive Officer Elon Musk. While the company doesn’t break out sales by region, business appeared healthy in China. The bulk of the period’s sales were of the Model 3 sedan and the Model Y crossover, which are produced in Shanghai …