SHANGHAI (Reuters) – Stellantis and its Chinese partner Leapmotor have scrapped a plan to make a second electric vehicle model at the European automaker’s plant in Poland, two people with knowledge of the matter told Reuters. The joint venture is instead considering using a Stellantis factory in Eisenach, Germany that produces Opel models and its […]
Exclusive-Biden administration buys last oil for emergency reserve as fund taps out
By Timothy Gardner WASHINGTON (Reuters) – The Biden administration said on Friday it has bought its last batch of oil for the Strategic Petroleum Reserve after selling a record amount from the facility in 2022 to counter fuel prices that had risen after Russia’s invasion of Ukraine. The Department of Energy said it had bought […]
Tesla hits $1 trillion market value as Musk-backed Trump win fans optimism
(Reuters) – Tesla’s market value breached the $1 trillion-mark in a sharp rally on Friday, on growing bets of a favorable treatment for CEO Elon Musk’s companies in return for his support for President-elect Donald Trump in his poll campaign. The electric automaker’s shares rose more than 6% to a more than two-year high of […]
Boeing exploring possible $6 billion sale of Jeppesen unit, Bloomberg News reports
(Reuters) – Boeing is exploring a possible $6 billion sale of its Jeppesen navigation unit, Bloomberg News reported on Friday. The planemaker is working with an adviser on the potential sale of the unit, which provides interactive flight plans, the report said. Suitors are already circling Jeppesen, which could attract sizable interest from private equity […]