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Category: automotive

  • UAE buys Mclaren’s automotive business following record losses

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    Investor Empires

    Abu Dhabi’s sovereign wealth fund is set to acquire the automotive division of McLaren, the iconic British supercar manufacturer, in a move that reshapes the ownership of one of the UK’s most iconic car brands. The deal follows a difficult period for the Woking-based company, which posted a record annual…

  • Could Buying Rivian Automotive Stock Today Set You Up for Life?

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    Investor Empires

    Rivian Cars (NASDAQ: REVIN) It attracted a stampede of bulls with its initial public offering on November 9, 2021. The electric vehicle (EV) maker went public at $78 per share, and its stock opened at $106.75 before hitting a record high of $172.01 just one week later. At that peak,…

  • Bosch, Tenstorrent to collaborate on standardizing automotive chips By Reuters

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    Investor Empires

    Written by Max A. Cherny SAN FRANCISCO (Reuters) – German industrial giant Bosch will team up with U.S. chip startup Tenstorrent to develop a platform for unifying key elements of automotive chips, Tenstorrent executives said. Plans include developing a standardized way to use a building block of modern chips, called…

  • FTC sues Asbury Automotive, says it charged Black, Latino customers more By Reuters

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    Investor Empires

    Written by Judy Godoy WASHINGTON (Reuters) – The U.S. Federal Trade Commission sued Asprey Automotive Group Inc. on Friday, alleging that three of its Texas dealerships charged black and Latino customers higher prices than others and routinely added services to customers’ contracts without their consent. Up to 75% of David…

  • Group 1 Automotive sales set record high despite adverse weather, CDK disruptions (GPI)

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    Investor Empires

    Group 1 for cars (New York Stock Exchange: GPIShares of Hyundai Motor Co. jumped to an all-time high on Wednesday as second-quarter results beat Wall Street expectations, with strong new vehicle sales offsetting recent disruptions caused by Hyundai Motor’s power outage that affected dealerships across the country and weather events…

  • Mullen Automotive secures additional funding through notes By Investing.com

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    Investor Empires

    Mullen Automotive Inc. (NASDAQ:), a leader in the electric vehicle market, has secured additional financing through the issuance of convertible notes and warrants, as detailed in a recent 8-K filing with the Securities and Exchange Commission (SEC). On Monday, July 9, 2024, the Company entered into agreements with certain investors…