factory
Germany’s factory orders were up 0.2% in February, a monthly increase that fell short of experts’ forecasts. A Reuters poll of analysts had estimated an increase of 0.8%, whilst Bloomberg had predicted a jump of 0.7%. According to Germany's official statistics agency, this marginal uptick was driven by increased demand in the machinery and equipment sector (+10.7% on the previous month), and more orders within the chemical (+3.1%) and pharmaceutical (+6.6%) industries. Experts slash economic growth forecast for 'ailing' Germany February’s growth figure comes after a dramatic monthly fall of -1...
Euronews (English)
Tesla shares dropped 7.16% on Monday to $188.14 (€173.38) following Chinese sales falling to over one-year lows. This was the lowest since 14 February. Tesla's Shanghai gigafactory saw about 60,365 vehicle shipments in February, according to China's Passenger Car Association, reported by Bloomberg. That was 16% less than January, as well as 19% down year-on-year. It was also the lowest sales figure since December 2022. The factory has the capacity to produce more than 950,000 units, accounting for about 25% of Shanghai's total car production. The fall is likely to have been caused by a drop in...
Euronews (English)
Tata, the owner of Jaguar Land Rover (JLR), has revealed it is building the biggest electric vehicle gigafactory in the UK, in the south-west county of Somerset. The brownstone site, at the Gravity Smart Campus in Puriton, near Bridgwater, was previously a Royal Ordnance Factory from the World War II, until it stopped operating in 2008. It is expected to manufacture about 40GWh worth of battery cells every year, which should account for around 500,000 vehicles. The company has revealed it will start off producing batteries for JLR vehicles such as the Defender, Range Rover and Jaguar brands. H...
Euronews (English)
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