Singapore-based Broadcom said Wednesday it was abandoning efforts to take over US smartphone chipmaker Qualcomm, two days after its bid was blocked by President Donald Trump over national security concerns. “Although we are disappointed with this outcome, Broadcom will comply” with the order blocking its effort to buy Qualcomm, it said in a statement. Broadcom said… (more…)

Broadcom withdraws Qualcomm offer after Trump blocks bid

Singapore-based Broadcom said Wednesday it was abandoning efforts to take over US smartphone chipmaker Qualcomm, two days after its bid was blocked by President Donald Trump over national security concerns. “Although we are disappointed with this outcome, Broadcom will comply” with the order blocking its effort to buy Qualcomm, it said in a statement. Broadcom said… Read more

Geely reaches for the skies

For Zhejiang Geely Holding Group, even the sky is no limit to its ambition, literally. The Chinese carmaker, which made headlines last week by becoming the largest shareholder in Mercedes-Benz owner Daimler, is to produce flying cars in China. A Geely representative confirmed on Wednesday to China Daily that it is hiring engineers, who must be… Read more

Mythical guitar-maker Gibson fighting for survival

World-famous guitar maker Gibson, whose instruments have been played by the likes of John Lennon and Elvis Presley, is facing serious financial problems that threaten its very existence. The mythical company — in Nashville, Tennessee since 1894 — on Monday brought in a new financial director, Benson Woo, to try to rescue the ailing group. Gibson… Read more

Harley-Davidson to close its Kansas City motorcycle assembly plant

KANSAS CITY, Mo. — Harley-Davidson Inc. announced early Tuesday that it will close its Kansas City motorcycle assembly plant by the summer of 2019. The plant near Kansas City International Airport in Kansas City, North employs about 750 workers. The announcement came as Harley-Davidson reported its fourth quarter and 2017 financial results. The motorcycle manufacturer said… Read more

Startup unveils ‘car of future’ for $45,000

A Chinese startup unveiled its vision for the automobile of the future Sunday, promising to deliver an “intuitive and intelligent” car to global markets starting next year from around $45,000. The electric-powered concept car shown by Byton at the Consumer Electronics Show in Las Vegas is touted as a computing device on wheels, equipped with a… Read more

Taiwan steel firm behind toxic dump in Vietnam fined again

A Taiwanese steel firm behind a toxic spill that killed tonnes of fish in central Vietnam last year was fined for a second time for illegally burying “harmful” waste, official sources said Sunday. The deadly dump from Formosa’s $11 billion steel plant in Ha Tinh province sparked one of the country’s worst environmental catastrophes, decimating livelihoods… Read more

Tesla to build wholly-owned Shanghai plant: WSJ

Tesla has reached an agreement with Shanghai authorities that would make it the first foreign automaker to build its own plant in China, putting it in the driver’s seat in the world’s biggest electric-vehicle market, the Wall Street Journal reported. The Silicon Valley electric carmaker’s wholly-owned manufacturing facility would be built in Shanghai’s free-trade zone, the… Read more

China to double target of new energy cars

A man charges an electric car at an electric-car rental service bay in Liuzhou, Guangxi province, July 31, 2017. [Photo/VCG] China will double its new energy cars development goal by 2020 as it reaches its target ahead of schedule. Cai Tuanjie, an official of the China’s Ministry of Transport said, the number of new energy cars… Read more

Swing State Voters Grow Impatient for Manufacturing Jobs

Voters in three key swing states that President Donald Trump flipped from blue to red last year are growing impatient for him to deliver on his promise to reverse a long slide in manufacturing jobs. On the campaign trail, Trump often promised that manufacturing jobs would come “pouring back” into the United States. But a Marist… Read more

Trump’s foreign brands show challenges of manufacturing in U.S.: White House

The White House said Monday that nobody knows better than President Trump, whose name-brand shirts and ties have been made in places such as China and Indonesia, how difficult it is to manufacture products in the U.S. “I think he actually understands in a very unique way the challenges that our regulatory system and our tax… Read more

Jaguar Land Rover to build SUV model in China

Ralf Speth, CEO of Jaguar Land Rover Plc, poses beside a Jaguar XE automobile at an auto expo.[Photo/Agencies] British automaker Jaguar Land Rover has announced it will build its new E-PACE compact SUV in Austria and China. The company said its plants in the United Kingdom are close to full capacity, and it expects there will… Read more

Tesla’s Elon Musk Tweets First Model 3 Pictures

Tesla Inc.’s co-founder and chief executive Elon Musk followed up his Twitter hype for the company’s new Model 3 by posting the first images of the vehicle as it came off the assembly line. Tesla CEO Elon Musk tweeted out Saturday, “First Production Model 3,” for Tesla’s first full-production version of the vehicle. The Model 3… Read more

When Will Electric Cars Become the Norm?

Quora Questions are part of a partnership between Newsweek and Quora, through which we’ll be posting relevant and interesting answers from Quora contributors throughout the week. Read more about the partnership here. Answer from Michael Barnard, low-carbon innovation analyst: Is it really practicable & sustainable to replace 100 percent of today’s fossil-fuel-powered vehicles to electric? Not… Read more

Special forces are getting a stealth motorcycle that’s silent and deadly

Here comes the dirt bike, beware of the dirt bike. The Silent Hawk can also run on jet fuel. Logos Technologies A dirt bike is a tool for getting a person to a place they shouldn’t be. Lightweight, made for rough terrain, and fast, motorcycles allow special forces to slip through woods, navigate narrow canyons, sneak… Read more

VW teams up with JAC to make electric cars

Visitors watch cars on display at a booth of JAC Motors in Shanghai, April 20, 2017. [Photo/VCG] HEFEI – A joint venture between Volkswagen China and Anhui Jianghuai Automobile (JAC Motors) to make electric cars has been approved by Chinese authorities. JAC Motors said Monday that the venture, with a total investment of 5 billion yuan… Read more

Ford to cut 1,400 salaried jobs in North America, Asia

DETROIT — Ford told its employees Wednesday morning that it plans to cut 10 percent of its salaried workforce worldwide, or about 1,400 employees as the automaker wrangles with falling profits and pressure to boost its stock price amid slowing U.S. industry sales. Most of the job cuts will occur in North America and Asia with… Read more

Apple May Spend Cash Pile On Buying Tesla: Report

In its recently released financial results, iPhone maker Apple revealed it is sitting on a massive $250 billion of cash reserves. And while social media was abuzz with what all that amount of money could hypothetically buy or finance, some analysts took a more realistic approach. According to Citibank analyst Jim Suva, the company will likely… Read more

China-owned Volvo Cars’ first-quarter net profit rises 26 per cent

Stockholm (dpa) – China-owned Volvo Cars said on Friday that its first-quarter net profit rose 26 per cent compared to the same quarter last year, driven by strong sales in China and Western Europe. Net income for the period was 2.6 billion kronor (294 million dollars), compared to 2.06 billion kronor a year ago. The carmaker… Read more

China, Russia to develop new jet

Domestic aircraft manufacturer Commercial Aircraft Corp of China said on Thursday that it has started work to develop a wide-body commercial jet with Russia, and the passenger plane is expected to be delivered within 10 years. The 280-seat wide-body jet would have a range of 12,000 kilometers. The project signals the two countries’ ambitions to compete… Read more

Move to protect US steelmakers is against norms of world trade

A worker at a steel company in Lianyungang, Jiangsu province, in January 2015. [Photo/China Daily] Announcing that the United States will investigate whether foreign steel imports harm the country’s national security, US President Donald Trump and Commerce Secretary Wilbur Ross have sent an unmistakable message to the big US steelmakers that they will protect them. National… Read more

Korean brands’ strength falls

Customers look at cars at a Hyundai retailer in Tianjin. Provided to China Daily While some blame political tensions, many credit rising quality of domestically produced vehicles South Korean marques are losing ground in China as local brands in the world’s largest auto market are offering improved quality and a wider choice of SUV models. In… Read more

China’s spending on robotics to hit $59.4b in 2020: IDC

Robot Jia Jia displays at the 2016 World Robot Exhibition in Beijing, Oct 21, 2016. [Photo/Xinhua] SHANGHAI – International Data Corp (IDC) reports that China will be spending $59.4 billion on robotics and related services by 2020. As the largest and the fastest growing robotics market in the world, China will account for over 30 percent… Read more

CRRC breaks ground at $100m US railcar factory

Chinese railcar manufacturer CRRC Sifang America broke ground on Thursday in Chicago at a $100 million plant that will build railcars for the city’s transit authority and become the company’s North American hub for the assembly of railcars. In 2016, CRRC Sifang, a unit of China Railway Rolling Stock Corp, was awarded a $1.3 billion contract… Read more