Elon Musk has shared a dose of bad news for his electric vehicle company Tesla, explaining that its new factories in Germany and the United States are losing billions of dollars due to battery shortages and supply disruptions in China. Musk referred to Tesla’s Berlin and Austin, Texas plants as “gigantic money furnaces.” "Both Berlin […]
As first reported by Sky News, aero-engine group Rolls-Royce is to give a one-off payment of £2,000 to 14,000 of its UK employees to help with the rising cost of living. In addition to the lump sum, Rolls-Royce will also offer a 4% pay rise backdated to March to 11,000 shopfloor workers. Rolls-Royce, which is […]
In May of this year, Elon Musk's electric vehicle company Tesla sold 32,165 China-produced vehicles, including 22,340 for export. This is according to the China Passenger Car Association. In contrast, April of this year saw Tesla sell 1,152 vehicles and export none as the company’s Shanghai factory halted work for 22 days from late March […]
The Home Office announced that the Border Force agency’s agreement with P&O would now be terminated. “In response to P&O Ferries’ unacceptable behaviour, Border Force has terminated its agreement with P&O to provide contingency travel services to juxtaposed ports with immediate effect,” a Home Office spokesperson said. Transport secretary Grant Shapps said in a tweet, […]
In a Tuesday statement, the EV company said it will launch a limited number of its Lucid Air Dream Edition P and R sedans for customers in Germany, Switzerland, Norway, and the Netherlands, adding that it would price its Air Dream Edition P/R at approximately €218,000 in Germany. Last week, Lucid said it would increase […]
Recently, the world’s first-ever airport for flying cars opened its doors. UK-based Urban-Air Port launched Air-One on April 25, which will serve as a hub for electric vertical take-off and landing (eVTOL) vehicles once it’s fully ready for use. Urban-Air Port will operate Air-One for at least one month in Coventry, helping to develop a […]
Shapps will warn P&O CEO Peter Hebblethwaite that new legislation will require all ferry companies operating from ports to pay their staff at least the minimum wage. Speaking to the Financial Times, an aide said that Shapps “will tell Hebblethwaite that if he doesn’t perform a U-turn, we will force him to do it anyway”. […]
Claire Rychlewski, SVP, EMEA at Kinaxis, explains the importance of businesses having a resilient supply chain. From the clothes we wear to the devices that allow us to watch our favourite content, all the consumer products we use come to us via a supply chain process. As such, businesses rely on efficient supply chain operations […]
According to CNBC, Tesla wrote in an email to its European employees: “For any Tesla employee who is a Ukrainian national and has been asked to return to Ukraine for active duty as a reservist, we will maintain their employment and salary for 3 months, with a view to assessing after this period as needed.” […]
In an email to Ukrainian Tesla owners published by Electreck, Musk’s EV company announced that it would drop the fee for its supercharging stations in countries directly surrounding Ukraine. Both Tesla and non-Tesla EVs can be charged without cost in Poland, Slovakia, and Hungary. “We hope that this helps give you the peace of mind […]
Rolls-Royce’s announcement came as the company returned to profit last year after meeting its restructuring targets a year sooner than anticipated. In 2020, Rolls-Royce saw a $4 billion loss compared to a profit of £124 million in 2021. Despite today’s crash for Rolls-Royce shares, analysts say the stock has recovered well since October 2020, when […]
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