Search Results for: cars

Another major auto manufacturer has announced a significant investment in Canadian electric auto production, this time GM, who this morning (Monday April 4) said it would sink more than Canadian dollars CAD2 billion (USD1.6 billion) into establishing an EV vehicle plant at CAMI, Ingersoll.…

The Canadian auto sector has expressed disappointment that its federal government has not done more in its latest budget, released on April 7, to finance the expansion of electric vehicles sales.

While industry associations have welcomed an expansion of financing for EV purchase subsidies and the development of battery mineral production, more money was needed to encourage sales, they said.…

Stellantis and South Korea’s LG Energy Solution today (Wednesday March 23) announced they would build a CAD5 billion (USD4.1 billion) electric vehicle battery plant in Windsor, Ontario.

It will be the first such plant in the province, and should open in 2024, employing an estimated 2,500 people.…

The European Public Prosecutor’s Office (EPPO) has launched its first annual report, saying that by December 31, it had processed 2,832 crime reports, opened 576 investigations (515 still active that day), identified EUR5.4 billion in estimated damages to European Union (EU) budgets and seized EUR147.3 million from alleged criminals.…

The US auto sector has been considering what technologies are best to comply with a mandate requiring automakers to install technologies preventing drivers from operating vehicles when impaired by alcohol or drugs. The requirement was attached to the USD1.2 trillion Infrastructure Investment and Jobs Act signed into law by President Joe Biden in November (2021) and aims to improve road safety amid rising road fatalities. …

Pakistan’s retail banking sector is tapping into demand for Islamic consumer finance from religious-minded Pakistani expatriates via a government-backed digital accounts facility that enables remote buying of a property and a car in their home country.

In September 2020, the central bank, the State Bank of Pakistan (SBP), allowed the 8.6 million non-resident Pakistanis (NRPs) to open a bank account in Pakistan through a digital and online process, without any need to visit a bank branch in person.…

Continuing supply chain problems, worsened by Covid-19, and price hikes for raw materials have depressed the outlook for sales faced by the German paint business in 2021. Germany’s Verband der deutschen Lack- und Druckfarbenindustrie (VdL), the industry association for coatings, paints and ink production, predicts that overall sales will have fallen 4% in 2021 compared to 2020, partly because because 2020’s DIY boom, fuelled by pandemic lockdown orders, has run out of steam.…

Higher education institutions are being warned they could be a target for money laundering, with fees being financed by the proceeds of crime, including corruption, which might also buy property, cars and other items for students.

The problem has been highlighted in a series of reports.…

Automotive associations and manufacturers in Mexico admit that their country’s automotive industry is registering a much slower rate of Covid-19 recovery than expected due to supplies shortages, which have especially impeded light vehicle production – cars, CUVs, SUVs and pick-ups.

In early October, the Mexican Automotive Industry Association, (Asociación Mexicana de la Industria Automotriz – AMIA) noted that light vehicle sales in September in Mexico were 76,930 units, meaning 1.1% less than the number recorded during September 2020, when the pandemic was ravaging Mexico’s economy, which lost 8.5% of its GDP last year (2020).…

Factory owners and stakeholders in Haiti’s billion-dollar apparel and textile industry fear that without serious political and security intervention, the industry could buckle under pressures imposed by the country’s powerful and violent gangs. 

That fear is growing after two garment manufacturing factories, H4H and Palm Apparel, located southwest of Haiti’s capital Port-au-Prince, in Carrefour, were forced to close their doors in early September leaving an estimated 5,000 workers on the breadline. …