Business

Skoda to make quarter of a million fewer cars this year due to chip shortage

Volkswagen (VOWG_p.DE)-owned Skoda Auto said on Monday it will make about a quarter of a million fewer cars than anticipated this year due to a shortage of semiconductor chips. It said it expected the chip shortage to stabilise this quarter and gradually ease in the second half of 2022. Carmakers globally have taken sharp output […]

Business

Who’s building the metaverse?

changed its name last week to Meta Platforms Inc to signal its focus on the metaverse, which it thinks will be the successor to the mobile internet. The metaverse broadly refers to the idea of a shared virtual platform that people can access through different devices and where they can move through digital environments. Well […]

Business

Metaverse pioneers unimpressed by Facebook rebrand

Early adopters of the virtual worlds known as the metaverse criticised Facebook’s rebranding as an attempt to capitalise on growing buzz over a concept that it did not create. The term metaverse has become a tech buzzword this year, with companies and investors keen to be a part of the next big thing. But users […]

Business

China’s Ganfeng Lithium inks 3-year supply contract with Tesla

China’s Ganfeng Lithium Co Ltd (002460.SZ) and its unit GFL International Co Ltd have signed a contract to supply battery-grade lithium products to U.S. electric vehicle (EV) maker Tesla Inc (TSLA.O). Ganfeng, the world’s top lithium company by market capitalisation, has already supplied battery-grade lithium to EV producers including Tesla. The new contract will allow […]

Business

Proposed U.S. carbon capture credit hike cheers industry, worries greens

A proposed tax credit hike for U.S. carbon capture and sequestration projects being mulled by Congress could trigger a big jump in use of the climate-fighting technology to clean up industry, but environmentalists worry the scheme will backfire by prolonging the life of dirty coal-fired power plants. Carbon capture sequestration (CCS) is a technology that […]

Business

Japan’s auto sales slump clouds prospects of consumption rebound

Japan’s automobile sales slumped 31.3% in October from a year earlier to mark the fourth straight month of declines, industry data showed on Monday, a sign output cuts caused by the COVID-19 pandemic were hurting the country’s already weak consumption. The domestic sales data is among few indicators available so far in gauging the strength […]