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South Korean alarm over EV fires puts spotlight on safety concerns

EXPLAINER-South Korean alarm over EV fires puts spotlight on safety concerns By Heekyong Yang and Ju-min Park SEOUL, Aug 14 (Reuters) - South Korea is urging automakers operating in the country to disclose the manufacturer of batteries used in electric vehicles (EV) as authorities try to calm fears over fires involving EVs, after a recent blaze in an underground parking lot that took eight hours to put out.
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Indian auto parts maker Samvardhana Motherson beats quarterly profit estimates

Indian auto parts maker Samvardhana Motherson beats quarterly profit estimates BENGALURU, Aug 13 (Reuters) - Indian auto parts maker Samvardhana Motherson International SAMD.NS reported a better-than-expected profit for the first quarter on Tuesday, helped by a shift in customer preference to premium vehicles and a revenue boost from recent acquisitions.
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Volkswagen delays launch of Trinity EV further, source says

Volkswagen delays launch of Trinity EV further, source says BERLIN, Aug 13 (Reuters) - Volkswagen VOWG_p.DE has pushed back the launch of a new ID.4 model from its next generation Trinity EV project to the early 2030s as part of a reshuffling of plans for the delayed programme, a person close to the company said late on Monday. The German automaker had been due to release the new ID.4, and later another electric SUV, under the Trinity project using its new SSP platform, the brainchild of former
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Top VW investor Porsche SE eyes further investments

UPDATE 1-Top VW investor Porsche SE eyes further investments Adds detail, H1 results in final two paragraphs FRANKFURT, Aug 13 (Reuters) - Porsche SE PSHG_p.DE , the controlling shareholder in German automaker Volkswagen VOWG_p.DE , is financially in a position to consider further investments to diversify its portfolio, its finance chief said alongside first-half results on Tuesday.
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Porsche SE eyes further investments in "attractive" market environment

Porsche SE eyes further investments in "attractive" market environment FRANKFURT, Aug 13 (Reuters) - Porsche SE PSHG_p.DE is in a position financially to consider further investments to diversify its portfolio, the holding group's finance chief said alongside first-half results on Tuesday. "Our financial resources give us considerable flexibility for potential investments in further core and portfolio investments," Johannes Lattwein, Porsche SE's board member for finance and IT, said in a statem
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Porsche SE: Current Stock Market Environment Creating Attractive Opportunities

BRIEF-Porsche SE: Current Stock Market Environment Creating Attractive Opportunities Aug 13 (Reuters) - Porsche Automobil Holding SE PSHG_p.DE : PORSCHE SE: H1 RESULT AFTER TAX 2.1 BILLION EUR VERSUS 2.3 BILLION EUR YEAR PRIOR PORSCHE SE: EXPECTS TO RECORD A FY 2024 GROUP RESULT AFTER TAX OF 3.5-5.5 BILLION EUR PORSCHE SE: NET DEBT AS OF 30 JUNE 20
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Deals of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions Adds Janus Henderson and Porsche Automobil Aug 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2 010 GMT on Monday: * * Janus Henderson JHG.N is buying private credit manager Victory Park Capital, the asset manager said, as it seeks to expand its footprint in the private credit lending space.
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Porsche Holding in group taking stake in Greyhound owner Flix

UPDATE 1-Porsche Holding in group taking stake in Greyhound owner Flix Adds details and background throughout By Ludwig Burger FRANKFURT, Aug 12 (Reuters) - Porsche Automobil Holding SE PSHG_p.DE said on Monday it is part of an investor group that is taking a 35% stake in Flix SE, owner of Greyhound services in North America and FlixBus in Europe.
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Porsche Holding SE takes stake in bus services group Flix

Porsche Holding SE takes stake in bus services group Flix FRANKFURT, Aug 12 (Reuters) - Investor Porsche Automobil Holding SE PSHG_p.DE said on Monday it agreed to take a stake in bus and train services provider Flix SE, spending a low double-digit million euro amount as part of a co-investment with private equity firm EQT. Reporting by Ludwig Burg
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South Korea holds emergency meeting as EV fires stir consumer fear

South Korea holds emergency meeting as EV fires stir consumer fear By Jack Kim and Heekyong Yang SEOUL, Aug 12 (Reuters) - South Korean officials met on Monday to discuss electric vehicle safety and whether to require car firms to disclose battery brands amid growing consumer concern after an EV blaze in an underground garage extensively damaged an apartment block.
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Europe's STOXX 600 corporate earnings week ahead

DIARY-Europe's STOXX 600 corporate earnings week ahead Aug 9 (Reuters) - Diary of Europe's STOXX 600 (.STOXX) corporate earnings for the week ahead EUROPE'S STOXX 600 EARNINGS Start Date Start Time (GMT) RIC Company Name Event Name 12-Aug-2024 BMO HNRGn.DE Hannover Rueck SE Q2 2024 Hannover Rueck SE Earnings Release 13-Aug-2024 NTS KGH.WA KGHM Polska Miedz SA Half Year 2024 KGHM Polska Miedz SA Earnings Release 13-Aug-2024 NTS SQN.S Swissquote Group Holding SA Half Year 2024 Swissquote Group Hol
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Germany corporate earnings week ahead

DIARY-Germany corporate earnings week ahead Aug 9 (Reuters) - Diary of Germany (.GDAXI) corporate earnings for the week ahead GERMANY EARNINGS Start Date Start Time (GMT) RIC Company Name Event Name 12-Aug-2024 BMO HNRGn.DE Hannover Rueck SE Q2 2024 Hannover Rueck SE Earnings Release 13-Aug-2024 NTS BNRGn.DE Brenntag SE Q2 2024 Brenntag SE Earnings Release 13-Aug-2024 NTS PSHG_p.DE Porsche Automobil Holding SE Q2 2024 Porsche Automobil Holding SE Earnings Release 13-Aug-2024 05:30 HNKG_p.DE Henk
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Rivian sticks to flat production outlook for 2024, expects deliveries dip in Q3

UPDATE 3-Rivian sticks to flat production outlook for 2024, expects deliveries dip in Q3 EV maker expects Q3 deliveries to dip sequentially Sees cost reduction of factory upgrades in second half of 2024 Adds details, background, executive comments and updates shares in paragraphs 2,3,6,11 By Akash Sriram and Abhirup Roy Aug 6 (Reuters) - Rivian on Tuesday stuck to its forecast that production would not rise this year and said deliveries in the third quarter would be slightly lower, as the EV mak
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Rivian sticks to production forecast, posts second-quarter margin below estimates

Rivian sticks to production forecast, posts second-quarter margin below estimates Aug 6 (Reuters) - Rivian Automotive RIVN.O maintained its production forecast for the year on Tuesday and said it lost more per electric car delivered than analysts had expected. Rivian introduced offers on leases to boost sales, which helped the EV maker beat revenue estimates after it cleared some of its inventory.
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PREVIEW: Rivian rallies; analysts see sluggish revenue growth

BUZZ-PREVIEW: Rivian rallies; analysts see sluggish revenue growth ** Shares of Rivian Automotive Inc RIVN.O rallying 1% on Tuesday ahead of electric car maker's quarterly report after the bell, with analysts expecting a massive drop in revenue growth for the period ** RIVN shares lost ground in Wall Street's recent selloff but remain up ~25% since June 25 when Volkswagen Group VOWG_p.DE said it would invest up to $5 bln in the company as it struggles with dwindling cash, increased competition,
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Auto File-Blocking China’s robot drivers  

Auto File-Blocking China’s robot drivers   Aug 6 - By Nick Carey , European Autos Correspondent Greetings from London! It’s been a rollercoaster start to the week, with markets down sharply on Monday, then bouncing back, then falling again - all triggered by fears a weak U.S. jobs report meant a recession. Fears over the state of the U.S. economy will foster concern over the health of the U.S.
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Companies sell their businesses in Russia

FACTBOX-Companies sell their businesses in Russia Adds HSBC, Danone, Hugo Boss, updates Yandex Aug 6 (Reuters) - Some Western companies have sold their Russian assets or handed them over to local managers to comply with sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreign-owned assets. Below are some companies that have sold their businesses in Russia, divided by sector: AUTOS Continental CONG.DE sold its Russian tyre plant to holding company S8 Cap
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Audi's new China EV series won't have signature four-ring logo, sources say

EXCLUSIVE-Audi's new China EV series won't have signature four-ring logo, sources say SHANGHAI, Aug 2 (Reuters) - Audi's new electric cars series developed in China for the Chinese market will not sport its four-ring logo, two people with direct knowledge of the plans said. The decision by the premium marque owned by Germany's Volkswagen VOWG_p.DE is due to "brand image consideration," one of the people said.
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China's stuttering recovery darkens global corporate growth outlook

ANALYSIS-China's stuttering recovery darkens global corporate growth outlook By Medha Singh Aug 2 (Reuters) - Global burger chains to car manufacturers are increasingly feeling the pinch from a faltering recovery in the world's No. 2 economy , China, and are strapping in for a bumpy ride ahead. A protracted downturn in the property market and high levels of job insecurity have knocked the wind out of a fragile recovery in China, a global trading powerhouse, and the effects of its slowdown can be
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Motor racing-Red Bull's Wheatley to be principal of Audi F1 team

UPDATE 2-Motor racing-Red Bull's Wheatley to be principal of Audi F1 team Wheatley and Binotto to run Audi F1 team Wheatley to join from Red Bull by next July Former Ferrari boss Binotto started work on Thursday Manufacturer entering works team in 2026 Adds Audi statement By Alan Baldwin Aug 1 (Reuters) - Red Bull's long-serving sporting director Jonathan Wheatley will leave the Formula One champions at the end of the season to become Audi team principal next year, both sides said on Thursday.
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