Solarwatt and BMW cooperate on home batteries

Solarwatt will start selling storage batteries from this autumn in cooperation with carmaker BMW amid an ongoing convergence of renewable power and electric mobility, the German photovolatic firm announced on Wednesday. Under the deal, BMW will supply battery components also used in its electric vehicles for Dresden-based Solarwatt which will develop and assemble photovoltaic (PV)…

S.Korean shares rise on gains in battery makers, strong U.S. recovery hopes

South Korean shares rose on Monday, led by battery makers and on prospects of stronger U.S. growth, but gains were capped on caution over upcoming U.S. earnings and inflation data. Both the won and the benchmark bond yield fell. The benchmark KOSPI closed up 3.71 points, or 0.12%, at 3,135.59. Among heavyweights, chip giants Samsung…

Toyota unveils new models in advanced driver-assist technology push

Toyota Motor Corp unveiled on Thursday new models of Lexus and Mirai in Japan, equipped with advanced driver assistance, as competition heats up to develop more self-driving and connected cars. Toyota’s latest launch comes as automakers, electric car startups and tech giants invest heavily in so-called active safety features. The Japanese carmaker’s new driving assist…

BMW has got its timing right for beefing up electric cars: CEO

BMW has timed its shift to electric cars well and its upcoming products will upend the perception the German carmaker is behind on electrification and could make its stock compete with the likes of Tesla Inc, its top executive said. “There is a perception that we took a break, but we actually didn’t take a…

VW’s SEAT wants to build battery assembly plant in Barcelona area

Volkswagen’s Spanish automaker SEAT wants to locate a battery assembly plant near its Barcelona factory to support electric car production there from 2025, providing it gets financial and other support from Spanish and EU authorities, its chairman said on Monday. Wayne Griffiths confirmed that SEAT plans to launch an urban electric vehicle in 2025, which…

Tesla raises price of variants of Model Y, Model 3, Model S

Tesla Inc has increased the price of its Model Y Long Range by $1,000 and Model S Plaid plus by $10,000, the electric-car maker’s website showed. The price of its Model 3 Standard Range Plus has been increased to $37,490 from $36,990 earlier and Model 3 Long Range AWD was raised to $46,490 from $45,990,…

Tesla loses a third of its value for the third time in a year

Tesla Inc’s stock extended losses on Monday and is now down by a third from its January record high, making it the third time in about a year that the electric car maker’s shares have corrected that dramatically. With investors worried about rising interest rates and dumping high-valuation stocks in recent weeks, Tesla’s market capitalization…

Geely and Volvo to launch powertrain venture after merger scrapped

China’s Geely Automobile and its Swedish sister company Volvo Cars will abandon merger plans but launch a new entity to combine their powertrain operations and expand cooperation on electric vehicles, the companies said. A year ago the two said they were planning to merge, giving Volvo access to public markets, as global automakers pursue alliances…