CATL reported 15% growth in 2024 net profit, the slowest pace in six years, as a prolonged price war in China's electric vehicle (EV) market put pressure on the Chinese EV battery giant.

China's CATL sees slowest profit growth in six years

Danish pension fund AkademikerPension is blacklisting Tesla Inc, citing the company’s record on workers’ rights, as well as the growing risks posed by the actions of Elon Musk.

Danish pension fund dumps Tesla shares over labour rights, Musk’s actions

BMW expects trade tariffs to cost the carmaker €1 billion (US$1.09 billion or RM4.8 billion) this year, its CEO said on Friday, factoring in EU duties on its China-made EV and newly imposed US tariffs which are upending global trade.

BMW expects €1b hit to earnings as tariff war escalates

Tesla will make a lower-cost version of its best-selling Model Y in Shanghai, three people with knowledge of the matter said, aiming to regain ground lost during a price war in its second-largest market.

Tesla plans Model Y costing at least 20% less to produce to defend China share — Reuters 

https://theedgemalaysia.com/node/748019WASHINGTON/BENGALURU (March 13): US automaker Tesla has warned that it and other major American exporters are exposed to retaliatory tariffs that could be levelled in response to US President Donald Trump's aggressive use of tariffs.

Tesla warns it, other major American exporters could face retaliatory tariffs as a result of Trump's trade policies

KUALA LUMPUR (March 14): Forest City is enhancing the infrastructure in southern Johor to support the development of the Special Financial Zone (SFZ) and the Johor-Singapore Special Economic Zone (JS-SEZ), to create a key transportation hub in the region.

Forest City expands transportation infrastructure to support SFZ and JS-SEZ

Volkswagen is working on back-up plans for how its passenger car brand could tackle US tariffs on imports from Mexico, while BMW is preparing to absorb the cost, as the auto industry reels from US President Donald Trump's chaotic trade policy.

VW readies back-up plans, BMW ready to absorb extra costs as US tariffs loom

KUALA LUMPUR (March 13): Parkson Credit Sdn Bhd has tapped among others, its principal adviser HSBC Amanah Malaysia Sdn Bhd, for a RM1 billion sukuk wakalah programme to raise RM333 milion for its expansion plans.

Motorcycle financier Parkson Credit raises RM333m in maiden sukuk issuance to drive expansion

BANGKOK (March 13): Thailand's Investment Board said on Thursday it had approved a US$1 billion (RM4.4 billion) investment from China's Sunwoda Electronic to build an electric vehicle battery plant, the latest in a series of new EV-related projects in the regional automaking hub.

The Sh...

Thailand approves US$1b investment from China's Sunwoda for EV battery plant

A total of 600 Electric Vehicle Charging Bays (EVCB) are expected to be operational in Penang by the end of the year, said State Local Government, Town and Country Planning Committee chairman Jason H’ng Mooi Lye.

He said the 300 EVCBs would be in the Penang City Council (MBPP) and the remaining in the Seberang Perai City Council (MBSP) administrative areas.

Penang to have 600 EV charging bays by year end

KUALA LUMPUR (March 13): Five years after the onset of the Covid-19 pandemic, the global economy has largely recovered, with corporate credit quality making a strong comeback, according to Moody’s Ratings.

Global corporate credit quality rebounds five years after pandemic impact but some sectors remain affected —  Moody's

Porsche said on Wednesday it will keep its dividend for 2024 at the previous year's level despite a 30.4% drop in earnings per share, according to Reuters calculations, as the luxury carmaker battles high costs and weak demand in China.

Porsche's earnings per share slashed by a third in 2024

Automotive leather upholstery manufacturer Pecca Group Bhd (KL:PECCA) said it is acquiring land measuring 25,350 sq m in Bandar Serendah, Rawang, to support its expansion plans.

Pecca acquires land in Rawang to expand manufacturing capacity

MCE Holdings Bhd has won a RM22.13 million contract to supply mechatronics components to US-based automotive supplier JVIS USA LLC for a car model in the US market.

MCE bags RM22m contract to supply mechatronics components to US auto parts supplier

A total of 112 online fraud cases, resulting in losses of approximately RM1.03 million, were reported in Melaka between Jan 1 and March 13 this year.

RM1.03m lost to online scams in Melaka year-to-date — exco

The Home Ministry, through the Immigration Department, is in the process of extending the Migrant Repatriation Programme, which is set to conclude on March 31.

Home Ministry to extend migrant repatriation initiative

The Trump administration is considering issuing sweeping travel restrictions for the citizens of dozens of countries as part of a new ban, according to sources familiar with the matter and an internal memo seen by Reuters.

Trump administration weighs travel ban on dozens of countries, memo says

It is now clear that US President Donald Trump’s administration will betray Ukraine in its fight to resist Russian aggression. Trump himself is either a victim of disinformation, or he is a willing participant in an effort to deceive Americans about the causes and consequences of the war.

...

Unconventional Economic Wisdom: Europe’s Powerful Tool Against Russia

Mark Carney has been sworn in as Canada’s 24th prime minister, bringing the former central banker to power in the middle of an explosive trade war with the US.

New Canadian PM Carney says there’s progress in US trade talks

US Vice President JD Vance said he expected President Donald Trump to wrap up a deal for TikTok and keep the popular video-sharing app operating in the US ahead of a deadline next month.

Vance tells NBC ‘high-level’ TikTok deal expected by April deadline

EDGE WEEKLY: Dispelling aspersons surrounding EPF’s 6.3% dividend for 2024

The Trump administration said it was optimistic about the possibility of a ceasefire in Ukraine, even as President Vladimir Putin appeared to reject US calls for immediate halt to the violence.

Trump optimistic about Ukraine ceasefire even as Putin balks

The Senate passed a Republican spending plan on Friday, averting a US government shutdown hours before a midnight deadline while exacerbating a furious struggle within the Democratic party over how to confront President Donald Trump.

US averts govt shutdown as Senate passes GOP spending bill

Apple Inc’s top executive overseeing its Siri virtual assistant told staff that delays to key features had been ugly and embarrassing, and a decision to publicly promote the technology before it was ready made matters worse.

Apple’s Siri chief calls AI delays ugly and embarrassing, promises fixes

Ailing oil and gas player&nbsp;Sapura Energy Bhd (KL:SAPNRG) has been in the news over the past week, but none of the flashes seem to paint a rosy picture of the company.

Rescue mission for Sapura Energy

Incoming Intel Corp chief executive officer Lip-Bu Tan, who was named to the position this week, will receive compensation valued at about US$69 million (RM306.71 million)&nbsp;if he reaches targets over the coming years.&nbsp;

Intel’s new CEO gets pay package valued at about US$69m

Trade wars, tariffs and sanctions have been transformed from economic tools into weapons in a broader struggle for dominance, fostering an atmosphere of suspicion and distrust that is eroding the foundations of international cooperation, according to Prime Minister Datuk Seri Anwar Ibrahim.

Trade wars, tariffs and sanctions weaponised in broader struggle for dominance, says Anwar

US&nbsp;equities followed European stocks higher on Friday to end a bumpy week on a positive note, although safe-haven gold hit a record high, with investors still showing some signs of anxiety about the economic impact of tariffs.

Stocks rebound after S&P 500 correction; safe-haven gold touches record

Apple Inc’s top executive overseeing its Siri virtual assistant told staff that delays to key features had been ugly and embarrassing, and a decision to publicly promote the technology before it was ready made matters worse.

Mark Carney has been sworn in as Canada’s 24th prime minister, bringing the former central banker to power in the middle of an explosive trade war with the US.

The Trump administration said it was optimistic about the possibility of a ceasefire in Ukraine, even as President Vladimir Putin appeared to reject US calls for immediate halt to the violence.

The&nbsp;Trump&nbsp;administration is considering issuing sweeping travel restrictions for the citizens of dozens of countries as part of a new ban, according to sources familiar with the matter and an internal memo seen by Reuters.

The Senate passed a Republican spending plan on Friday, averting a US government shutdown hours before a midnight deadline while exacerbating a furious struggle within the Democratic party over how to confront President Donald Trump.&nbsp;

US Vice President JD Vance said he expected President Donald Trump to wrap up a deal for TikTok and keep the popular video-sharing app operating in the US ahead of a deadline next month.

It is now clear that US President Donald Trump’s administration will betray Ukraine in its fight to resist Russian aggression. Trump himself is either a victim of disinformation, or he is a willing participant in an effort to deceive Americans about the causes and consequences of the war.

...

The Home Ministry, through the Immigration Department, is in the process of extending the Migrant Repatriation Programme, which is set to conclude on March 31.

Automotive

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