Musk: New Tesla plants make billions in losses – economy

According to CEO Elon Musk, Tesla’s new electric car factories in Grünheide near Berlin and in Austin in the US state of Texas are currently losing “billions of dollars”. Musk described the sites as “giant money incinerators” in a video interview released Wednesday. The reason is a lack of batteries and supply chain problems due … Read more

Faurecia takes over Hella for 6.8 billion euros

Düsseldorf, Frankfurt, Stuttgart The owner family of the German automotive supplier Hella has found a buyer for their shares. On Saturday evening, the company announced in an ad hoc announcement that the Hueck family was selling its block of shares amounting to 60 percent to Faurecia. The supplier based in Nanterre, northwest of Paris, was … Read more