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"No dinosaur" - Carmaker Stellantis steps up electric ambitions

Newly-formed Stellantis, a combination of Peugeot-maker PSA and Fiat Chrysler (FCA), wants to use its clout to take on rivals racing to produce more electric vehicles, Chief Executive Carlos Tavares said on Wednesday.

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Betting on death of petrol cars, Volvo to go all electric by 2030

3 Min Read
LONDON (Reuters) - Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers planning to phase out fossil-fuel engines by the end of this decade.
“I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.”
The Swedish-based carmaker said 50% of its global sales should be fully-electric cars by 2025 and the other half hybrid models.

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UPDATE 1-Eight U.S. auto state governors urge Biden to press semiconductor firms on chip shortage

A bipartisan group of eight governors from U.S. auto states on Friday urged Democratic U.S. President Joe Biden to do more to press semiconductor firms to address a global shortage of automotive chips that has cut some vehicle production.

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WRAPUP 1-Eight U.S. auto state governors urge Biden to press semiconductor firms on chip shortage

A bipartisan group of eight governors from U.S. auto states on Friday urged Democratic U.S. President Joe Biden to do more to press semiconductor firms to address a global shortage of automotive chips that has cut some vehicle production.

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Samsung SDI to invest $849 mln to expand EV battery plant in Hungary

South Korean manufacturer Samsung SDI Co Ltd said it will invest 942 billion won ($849 million) to expand its electric vehicle (EV) battery factory in Hungary, a company official told Reuters on Wednesday.

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Continental invests in object recognition start-up

German automotive parts maker Continental AG said on Tuesday it had acquired a minority stake in German-U.S. start-up Recogni, as it deepens its expertise in autonomous driving technology.

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Albemarle says it regrets Chile's call for arbitration over lithium royalties

Albemarle Corp, the world's largest lithium producer, said on Monday it regretted Chile's decision to initiate international arbitration over the alleged underpayment by the U.S. company of royalties on its sales.

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New Swedish venture eyes fossil fuel-free steel production in 3 years

By Reuters Staff
2 Min Read
STOCKHOLM, Feb 23 (Reuters) - Swedish steel venture H2 Green Steel is planning to build a fossil fuel-free steel plant in the north of Sweden, including a sustainable hydrogen facility, with production starting in 2024, it said on Tuesday.
The Lulea-based venture, which is in the process of closing 50 million euros ($60.7 million) in series A equity financing, said in a statement that by 2030 it plans to have an annual production capacity of 5 million tonnes.
“The project includes a giga-scale green hydrogen plant as an integrated part of the steel production facility,” it said.
The European Union has made hydrogen a key part of its plan to eliminate its greenhouse gas emissions by 2050, and is betting on a rapid scale-up to decarbonise steel, heavy transport and chemicals.

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Knorr-Bremse, Lufthansa mogul Thiele dies at 79

3 Min Read
BERLIN (Reuters) - German braking systems maker Knorr-Bremse said its majority shareholder Heinz Hermann Thiele, who shaped the company since buying it from his then-employer in 1985, has died unexpectedly at the age of 79.
FILE PHOTO: The Lufthansa logo is pictured at Frankfurt Airport in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski
Thiele was also a major shareholder in Lufthansa, becoming a highly visible public figure last year when he was portrayed as the main obstacle to the state bailout the airline needed to survive the coronavirus crisis.
“The Board of Directors and the Supervisory Board mourn the loss of a global and visionary entrepreneur who has been shaping the global rail and commercial vehicle industry for decades,” Munich-based Knorr-Bremse said in a statement on Tuesday.

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France's Faurecia eyes 2025 operating margin above 8% of sales

French car parts maker Faurecia said on Monday it targeted sales close to 25 billion euros ($30.29 billion) and an operating margin above 8% of sales by 2025.

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