Bloomberg Toyota Motor Corp will break ground on its first battery factory in the US at a mega-site in North Carolina, joining an industry-wide push as automakers accelerate efforts to electrify their fleets. The Japanese company will invest $1.29 billion in the automotive battery manufacturing facility, which is scheduled to start production in 2025, the company said. It is the ...

Bloomberg Volvo Car AB said it’s confident it can improve sales and profitability this year even as the global shortage in semiconductors continues to weigh on auto production. The manufacturer owned by China’s Zhejiang Geely Holding Group Co lost output of 50,000 cars in third quarter compared to the year-earlier period, it said. It reiterated its full-year outlook despite preliminary ...

DUBAI / WAM Abdulaziz Al Ghurair, Chairman of Dubai Chamber, has said that the number of companies from the Association of Southeast Asian Nations (Asean) registered with Dubai Chamber has increased by 35.5 percent since 2018 to exceed 3,300 members. The announcement was made by Al Ghurair during his opening speech at the first Global Business Forum (GBF) Asean, which ...