Auto Industry News

The company said its profit came in at 7.11 billion rupees ($85.96 million) for the three months ended Dec. 31, a year-on-year increase of 3.6%.

Among those roadblocks, a looming shortage of battery raw materials could put government mandates "in conflict with manufacturing reality" - one of the macro trends charted in the 2023 Moving World Report, published by investment firm UP.Partners.

Ridesharing companies are starting to recover from pandemic lows as offices reopen and following a resurgence in travel on the back of reopening of closed borders and a strong U.S. dollar.

In just three years, Indonesia has signed more than a dozen deals worth more than $15 billion for battery and electric vehicle production in the country with manufacturers including Hyundai Motor, LG Group and Foxconn.

Ford said on Thursday it left billions of dollars on the table that were within its control and blamed a 100,000 vehicle shortfall in its fourth-quarter volume mostly on the inability to obtain enough chips.

Tesla's Shanghai plant in December cut output by about a third from November, and extended a Lunar New Year holiday period for workers in January, to cope with rising inventory.

Ford blamed chip shortages and other supply chain issues and production "instabilities" that raised costs, along with lower-than-expected volumes. Ford shares dropped more than 6% in after-market trading.

Xiaomi CEO Lei Jun also circulated the note on his personal Weibo page.