SAIC-GM and CATL have made a groundbreaking announcement of electric vehicle charging technology. Their joint venture has revealed a new battery that can add an astonishing 200 kilometers of range in a mere five minutes. This unprecedented charging speed is achieved through a 6C charging multiplier, the fastest of its kind globally. The innovative battery will be incorporated into the upcoming generation of Ultium electric vehicles, marking a significant stride towards more efficient and user-friendly electric vehicles. This breakthrough signifies a pivotal moment in the development of electric vehicles. The ability to rapidly recharge a battery without compromising range or…
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Vista Outdoor on Friday agreed to sell itself in parts to two separate buyers for a total of $3.35 billion, including debt, after fending off a hostile suitor that pursued the sporting goods and ammunitions maker for months.Vista struck a deal to sell its sporting goods unit, Revelyst, to investment firm Strategic Value Partners for $1.1 billion, according to a statement seen by Reuters.It has also agreed to revise the terms of a previously agreed deal to sell its ammunitions business Kinetic to Prague-based defense contractor Czechoslovak Group (CSG).CSG has raised its offer for Kinetic by $75 million to $2.2 billion. The company, which had initially also agreed to buy a 7.5% stake in Revelyst for $150 million, will no longer do…
By Suzanne McGee(Reuters) – U.S. exchange-traded funds (ETFs) that invest in dividend-paying stocks have enjoyed a rush of inflows since the Federal Reserve kicked off its rate cutting cycle last month, though a jump in U.S. Treasury yields could slow the deluge of investor funds.The group of 135 U.S. dividend ETFs tracked by Morningstar pulled in $3.05 billion in September, the same month the Fed cut interest rates by 50 basis points, its first reduction since 2020. That compares to average monthly inflows of $424 million in the first eight months of 2024.Their newfound popularity has been driven by investors…
Nestled in the forgotten corners of backyards and barns, countless classic cars languish in a state of disrepair. Rust has claimed many as its own, their former glory obscured by the passage of time. Yet, amidst the decay, a glimmer of hope remains. Enthusiasts, fueled by passion and a deep appreciation for automotive history, start on missions to rescue these forgotten treasures. One such story involves a 1966 Pontiac GTO, discovered by chance in an unlikely location. The GTO, a legendary muscle car of its era, was once a symbol of American automotive prowess. Its distinctive styling, powerful engines, and…
Nio’s Firefly brand, with its proprietary battery swapping system, may face challenges due to incompatibility with existing swap stations. Onvo, however, could prove the effectiveness of battery swapping through its ALPS brand and L60 model. Despite skepticism, battery swapping offers a promising solution for BEVs’ longevity, as battery packs are often expensive to replace. CATL’s TECTRANs battery pack, with a potential lifespan of 15 years, highlights the need for innovative solutions. While BEVs can last longer than ICE vehicles, battery swapping can ensure their continued performance and sustainability. By providing a convenient and efficient way to replace depleted batteries, battery…
Despite its diminutive size, the Ultima Evolution is a powerhouse of performance. This ultra-lightweight sports car, propelled by a supercharged 6.8 liter V8 engine, can accelerate from 0 to 60 mph in an astonishing 2.3 seconds. Its potent engine, coupled with a manual transmission and rear wheel drive, delivers a thrilling driving experience. The Ultima Evolution’s lightweight construction and aerodynamic design contribute to its exceptional performance. Beyond its raw speed and power, the Ultima Evolution offers a refined driving experience. Its precise steering, responsive brakes, and well tuned suspension provide excellent handling and control. John Cena’s Ultima Evolution Auction: A…
The Mercury Cougar, a luxurious counterpart to the Ford Mustang, was first offered as a convertible in 1969, marking a significant departure from its hardtop only predecessors. Despite the initial excitement surrounding this new body style, the convertible market was already in decline, mirroring the broader trend of waning interest in pony cars. While the Mustang still managed to sell a respectable number of convertibles, it was a far cry from the peak of its popularity in 1966. The introduction of the Cougar convertible coincided with a period of economic uncertainty and changing consumer preferences. The rising cost of fuel,…
Stellantis, once the proud parent of 14 brands, is now struggling to stay afloat. Despite claims of industry wide challenges, the company’s own decisions have contributed significantly to its faltering sales. Alfa Romeo has resorted to drastic price cuts to clear inventory, Dodge and Jeep prices are on the rise, and the search for Carlos Tavares’ successor has begun, even though his contract isn’t due to expire until 2026. To ensure its survival, Stellantis must prioritize reliability and address consumer demands. Chrysler, with only a minivan remaining in its lineup, has recently reintroduced a base model that’s more expensive than…
Hertz, once a pioneer in electric vehicle adoption, has reversed course, offloading a significant portion of its EV fleet. After a failed Tesla experiment and a string of customer complaints, Hertz is now dumping Chevrolet Silverado EVs onto the market at competitive prices. This marks a dramatic shift in strategy for the rental company, which had previously touted its EV fleet as a success. The company’s initial enthusiasm for electric vehicles was fueled by a 2021 deal with Tesla to purchase 100,000 EVs for its rental fleet. Hertz also announced plans to transition one-fifth of its fleet to electric power.…
CSG Increases Purchase Price for The Kinetic Group to $2.225 BillionSVP Transaction Contingent Upon Close of CSG Transaction ANOKA, Minn.–(BUSINESS WIRE)–Vista Outdoor Inc. (Vista Outdoor (NYSE:) or the Company) (NYSE: VSTO) today announced it has entered into a definitive agreement with funds managed by Strategic Value Partners, LLC, and its affiliates (SVP), a global alternative investment firm with approximately $19 billion of assets under management, to sell Revelyst in an all-cash transaction based on an enterprise value of $1.125 billion (the SVP Transaction). In connection with the SVP Transaction, Vista Outdoor also entered into an amendment to the merger agreement…