Volkswagen ahead of schedule in production of electric vehicles
The German automaker Volkswagen, will have produced one million electric vehicles by the end of the year 2023. They claim that this is two years ahead of their anticipated schedule which means that by the year 2025, they are expected to have produced 1.5 million electric autos.
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Boeing Goes From Bad to Worse as Coronavirus Crushes Air Travel
Between compensation payments related to the 737 MAX grounding, delayed aircraft deliveries resulting from customers' distress, and Boeing's need to support its supply chain, cash burn will likely continue to exceed reported losses for most if not all of 2020. While Boeing is doing its best to cut costs, dramatically lower production rates will put pressure on profit margins
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Why Shares of Boeing Are Climbing Today
The results, as expected, were lousy, but investors were encouraged by production rate cuts that were less than feared and management actions to streamline the company and prepare for a commercial aerospace downturn. CEO David Calhoun said in a statement that the pandemic "is affecting every aspect of our business, including airline customer demand, production continuity and supply chain stability."
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American Airlines to offer cargo flights for the first time since 1987
American Airlines has decided to re-introduce cargo-only flights to its schedule, for the first time since 1987, due to shrinking operations caused by travel bans imposed internationally to control the spread of the coronavirus pandemic coupled with lower consumer demand. All major US airlines have suspended international passenger flights, with Delta Airlines joining American in using passenger planes for moving cargo.
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Tesla ends 2019 with record profits and production
Tesla reported its second consecutive quarterly profit in the fourth quarter of 2019, after years of losses and production woes. With the company beating deadlines for production of its new model Y and promising more than 500,000 units in production for 2020, investor confidence in Tesla has increased, improving its stock price by 13 percent.
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