Electric vehicle battery manufacturer Northvolt says construction of a $7-billion plant on Montreal’s South Shore will proceed as planned, despite announcing on Monday its intention to lay off 1,600 employees in Sweden. The Swedish multinational said it plans to cut 1,000 jobs in Skellefteå, 400 in Västerås and 200 in Stockholm — about a fifth of its … Read more
Canadian retail sales edged up in July, but economists say it will take further interest rate cuts to spark lasting activity. Statistics Canada said Friday that retail sales rose 0.9 per cent, to $66.4 billion, in July, helped by stronger new car sales. The agency says sales were higher in seven of the nine subsectors it … Read more
Rental firm Hertz Global Holdings said on Thursday it would sell about 20,000 electric vehicles, including Teslas, from its U.S. fleet due to higher expenses related to collision and damage, and will opt for gas-powered vehicles. Shares of the rental company, which also operates vehicles from Swedish EV maker Polestar among others, fell about four per cent. Tesla’s stock was down about … Read more
Crews have installed what’s billed as the first wireless-charging public roadway in the U.S. for electric vehicles. It’s beneath a street just west of downtown Detroit. Copper inductive charging coils allow vehicles equipped with receivers to charge up their batteries while driving, idling or parking above the coils. The segment of 14th Street will be … Read more
