Author: Press Room

The Biden administration on Thursday outlined its plans for deploying billions of dollars’ worth of tax credits for manufacturers that produce clean energy products in the United States. The incentives are a key part of President Biden’s strategy to reduce America’s reliance on countries like China for production of electric vehicles.The proposed rules, released by the Treasury Department, explain how corporations can gain access to the most generous subsidies contained in the 2022 Inflation Reduction Act. The incentives, which are expected to provide companies with more than $100 billion of savings over a decade, are intended to encourage businesses to…

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Musk claims that the Cybertruck’s hard surface is so damage-resistant that it can stop bullets.But stainless steel body panels may be a huge drawback, auto body experts and insurance agents say.This article originally appeared on InsideEVs.com and was republished with permission.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Elon Musk has delivered on his promise to get the Tesla Cybertruck into production. The wedge-shaped, Syd Mead meets Giorgetto Giugiaro design is out in the world, albeit with some design concessions from the concept version…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Allianz has fought off a legal challenge brought by a UK university after the insurance company refused to cover damage done by a controlled explosion on the grounds it fell within a “war exclusion” clause.The Court of Appeal on Thursday ruled in favour of Allianz over its decision not to pay out after a British Army bomb disposal team destroyed a 1,000kg device that was dropped by the Nazis in 1942 and lay buried on the outskirts of Exeter, Devon.Workers on a…

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© Reuters. Russian President Vladimir Putin attends his annual end-of-year press conference and the Direct Line question and answer session, at Gostiny Dvor Exhibition Centre in Moscow, Russia December 14, 2023. Sputnik/Gavriil Grigorov/Pool via REUTERS MOSCOW (Reuters) – Annual inflation may approach 8% in Russia this year, President Vladimir Putin said on Thursday, a day before the central bank is widely expected to hike interest rates again to rein in soaring prices. Most analysts polled by Reuters expect the Bank of Russia to raise its key rate by 100 basis points to 16% on Dec. 15, with inflationary pressure exacerbated…

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© Reuters. An employee works on the automobile assembly line of Bluecar electric city cars at Renault car maker factory in Dieppe, western France, September 1, 2015. REUTERS/Philippe Wojazer/File Photo BERLIN (Reuters) – Europe’s electric vehicle (EV) sector risks falling behind without a robust EU industrial strategy, autos group ACEA said on Thursday citing new report findings, amid China’s dominance of the supply chain and U.S. incentives for its automakers. A new report by France’s Ecole Polytechnique university shows an “immense scale of challenges” for the European Union in developing an EV supply chain, the European Automobile Manufacturers’ Association (ACEA)…

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Two utilities and two media organizations are suing over a referendum in Maine that closed a loophole in federal election law that allows foreign entities to spend on local and state ballot measures.The three lawsuits take aim at the proposal overwhelmingly approved by voters on Nov. 7 to address foreign election influence.The Maine Association of Broadcasters and Maine Press Association contend the new law that goes into effect on Jan. 5 imposes a censorship mandate on news outlets, which are going to be required to police campaign ads to ensure there’s no foreign government influence.ME VOTERS MAY SOON BAN FOREIGN…

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A group of coworkers in Kentucky won $50,000 on scratch cards they got as holiday gifts.They won $50 on a ticket, so bought some more – and ultimately ended up with $50,000.”We were all so excited,” one of the winners told Kentucky Lottery. “I was on the floor.” Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A group of coworkers in Kentucky won $50,000 on the lottery after repeatedly winning on scratch cards.Sheila Colter from Bowling Green, who works as a second shift supervisor…

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