Geely Automobile Holdings Ltd

Polestar 3Courtesy: PolestarSwedish electric vehicle maker Polestar cut its annual net losses in half last year, while revenue surged and it attempted to set itself apart from other EV startups.The company on Thursday reported an 84% increase in revenue for 2022 to roughly $2.5 billion as it exceeded a 50,000-vehicle delivery target. Its net loss for the year fell to $466 million from more than $1 billion in 2021. Its adjusted operating loss narrowed by 8% to $914 million, while its adjusted earnings before interest and…

Pictured here is a Zeekr electric vehicle charging station in Dongguan, Guangdong province of China, on Nov. 14, 2022.Vcg | Visual China Group | Getty ImagesBEIJING — Geely-backed electric car brand Zeekr said Monday it's now valued at $13 billion after a $750 million raise from Chinese battery giant CATL and others.Zeekr is not yet publicly listed, but Geely said in December the brand filed confidentially for an initial public offering in the U.S.The new $13 billion valuation makes Zeekr worth more on paper than Xpeng,…

Visitors look at a Jidu Robo-01 electric SUV during the 20th Guangzhou International Automobile Exhibition at Canton Fair Complex on Dec. 30, 2022 in Guangzhou, China.Zou Wei | Visual China Group | Getty ImagesBEIJING — Baidu's ChatGPT-like product is set to come to electric, assisted-driving cars, startup Jidu said Tuesday.Jidu, backed by Baidu and Geely, is using Baidu's Apollo system for the in-car user interface and assisted driving tech. The startup plans to deliver its first car this year.related investing newsJidu…

A Renault logo photographed in Bavaria, Germany. The French automotive giant says it's targeting carbon neutrality in Europe by 2040 and globally by 2050.Igor Golovniov/Sopa Images | Lightrocket | Getty ImagesThe Renault Group is working with French utility Engie on the development of a geothermal energy project at the automaker's Douai facility, with the collaboration set to last 15 years.In a statement, Renault said Thursday a subsidiary of Engie would start drilling work at Douai — which was established in 1970 and…

Polestar 3Courtesy: PolestarSwedish electric-vehicle maker Polestar said Friday that its third-quarter operating loss narrowed from a year ago as revenue more than doubled, and it confirmed that it still expects to deliver 50,000 vehicles in 2022.But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023.Here are the key numbers from Polestar's third-quarter earnings report, its first as a public company following its merger with a special-purpose acquisition company in…

Renault sees the internal combustion engine continuing to play a crucial role in its business over the coming years, according to a top executive at the French automotive giant.  On Tuesday, it was announced that the Renault Group and Chinese firm Geely had signed a non-binding framework agreement to establish a company focused on the development, production and supply of "hybrid powertrains and highly efficient ICE powertrains."According to Renault, both itself and Geely will have a 50% stake in the business, which will…

Polestar, the Swedish electric performance car company, has announced that the world premiere of its next car, the Polestar 3 electric performance SUV, will be in October 2022. Polestar 3 is the company's first SUV.Courtesy: PolestarSwedish electric vehicle maker Polestar said Friday that it is still on track to deliver 50,000 vehicles in 2022 after its factory resumed full production following disruptions from Covid outbreaks in China.Polestar said it delivered 9,215 vehicles in the third quarter, bringing its total…

Polestar O2 electric roadster conceptSource: PolestarSwedish electric vehicle maker Polestar said Tuesday that a popular electric roadster that it showed off earlier this year will officially go into production. But interested buyers will have to wait more than three years to get their hands on the new model.Polestar's O2 roadster concept, first revealed in Los Angeles in March, will enter production in 2026 as the Polestar 6, the company announced."With the overwhelming consumer and press response, we took the decision…

Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks with equipment manufacturing giant Sany Heavy Industry.Pony.aiBEIJING — Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks in China with equipment manufacturing giant Sany Heavy Industry.Annual production is set to reach about 10,000 trucks "within a few years," according to a press release. Small-scale deliveries are set to begin this year and next, with mass…

Volvo Cars, one of Europe's top car brands, says it's past the worst of a chip supply crunch that placed a tremendous squeeze on auto production.The company's semiconductor inventory is now "back at fully supply," CEO Jim Rowan told CNBC's "Squawk Box Europe" on Wednesday."We had guided in the first quarter we were affected by one specific semiconductor which hampered production across most of our range," Rowan added."We had forecasted by and large we would be through that by the end of the second quarter, and that's what…