Cars

Renault establishes new firm to enhance investments in Turkey

Renault Group, which has been operating in Turkey since 1968, has decided to establish a new company to enhance its investments in the country, according to a company statement released on Dec. 1.

Hakan Doğu, who is a member of Renault Group Corporate Management Committee, will lead Renault Group Otomotiv A.Ş. as the CEO, according to the statement.

After Twitter poll, CEO Musk sells off $5 bln in Tesla shares

After making a promise on Twitter, Tesla CEO Elon Musk has sold about 4.5 million shares of the electric car maker's stock, raising over $5 billion.

The sales, disclosed in 10 regulatory filings late Wednesday, amount to about 3% of Musk's stake in the company.
About $1.1 billion will go toward paying tax obligations for stock options granted to Musk in September.

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