Author: World_Newz Mon

Profit of battery giant CATL surges in H1

SHENZHEN, Aug. 24 (Xinhua) — Contemporary Amperex Technology Co., Ltd. (CATL), China's largest automotive lithium-ion battery maker, posted a 130.8 percent net profit growth in the first half of 2019 amid a booming new energy vehicle (NEV) market.
Net profit in the January-June period rose to 2.1 billion yuan (296 million U.S. dollars), CATL said in its interim statement filed to the Shenzhen Stock Exchange Friday.
During the six months, its total revenue soared 116.5 percent year on year to 20.3 billion yuan. The revenue from its automotive lithium-ion battery systems business surged 135 percent to 16.9 billion yuan, according to the statement.
In the first half, CATL had a 46 percent share of the automotive lithium-ion battery market in China.
Despite sluggish sales for gasoline-powered vehicles, the NEV market has experienced a boom in China and thus resulted in a strong demand for lithium-ion batteries.
In the six months, automobile sales in China fell 12.4 percent year on ye..

Aurus Senat Sedan price to be $272,400

MOSCOW, August 23. /TASS/. The price of Aurus Senat Sedan executive-class car will be 18 mln rubles ($272,400) in the basic configuration, Chief Executive Officer of Aurus Adil Shirinov said on Friday.
“Aurus Senat Sedan, the car presented here to you this day, will have the price of 18 mln rubles ($272,400) in the basic configuration,” Shirinov said.
The vehicle will not be offered for retail sales in 2019, he noted.
About 200 vehicles will be produced in 2020, Minister of Industry and Trade Denis Manturov said earlier. A portion of them will be subjected to tests, another portion will be provided to the Russian government and the rest will be freely sold.
The first showroom of Russian brand of executive cars Aurus was opened in Moscow City business center earlier on Friday.
Aurus is a Russian brand of cars for senior officials. The car was designed as part of the Cortege project, which has been implemented by NAMI (Central Scientific Research Automobile and Automotive Engines Institu..

BYD H1 profit triples from booming NEV sales

SHENZHEN, Aug. 23 (Xinhua) — China's leading new energy vehicle (NEV) manufacturer BYD reported a year-on-year rise of 203.6 percent in net profit for the first half of 2019 on booming NEV sales.
Its net profit reached 1.45 billion yuan (about 205 million U.S. dollars), compared to 479 million yuan in the same period last year, the Shenzhen-based company said in its interim statement filed to the Shenzhen Stock Exchange.
The figure hit the lower end of its earnings guidance issued in April.
During the January-June period, its revenue grew 14.8 percent year on year to 62.2 billion yuan. The revenue from the NEV sector surged 38.8 percent to 25.5 billion yuan.
Despite sluggish sales for gasoline-powered vehicles, the NEV market has experienced a boom in China.
In the six months, the automobile sales in China fell 12.4 percent year on year to 12.3 million units while the NEV sales soared 49.6 percent to 617,000 units, according to the China Association of Automobile Manufacturers.
D..

Lamborghini Pulls Into Sight of Ferrari With $11 Billion Value

For decades, Lamborghini has been known for brash supercars that combine brute power and daring design, like the classic Miura or the edgy Countach. Now the Italian company’s successful push into more comfortable sport utility vehicles has helped boost its valuation to $11 billion, making it a viable initial public offering candidate for owner Volkswagen AG, according to Bloomberg Intelligence analysts.

Porsche invests 2 mln USD in Israeli AI tech to improve visibility in poor weather

JERUSALEM, Aug. 21 (Xinhua) — German luxury auto manufacturer Porsche has invested 2 million U.S. dollars in the Israeli startup TriEye, which has developed visibility enhancement technology in harsh weather conditions, the two companies said on Wednesday.
TriEye, founded in 2017 and headquartered in the coastal city of Tel Aviv, has developed an artificial intelligence (AI) sensor technology for short-wave infrared (SWIR).
It enhances safety in vehicles fitted with assistance systems or autonomous driving functions by improving the ability to see in weather conditions where visibility is poor, such as rain, fog, dust or murky conditions.
The Israeli company's unique semi-conductor design uses patent-pending technology that makes it possible to manufacture SWIR HD cameras at a fraction of their current cost. These SWIR cameras are expected to reach the market by 2020.
The Israeli solution is based on nearly a decade of advanced nanophotonics research, performed by Uriel Levy, Tri..