Chinese e-commerce giant Alibaba Group Holding Ltd posted a smaller-than-expected rise in quarterly revenue on Thursday as COVID-19 curbs and a worsening economic outlook stifled consumer spending. Retail spending in China has sagged this year alongside the government’s strict zero-COVID policies that have led to frequent snap lockdowns and hurt economic activity. Alibaba has also had to contend with stiff competition from the likes… Continue reading Alibaba Group posts lower-than-expected quarterly revenues on pandemic woes
Category: Automotive
India’s Bharti Telecom returns to bond market after a year with $850m plan
India’s Bharti Telecom is planning to tap the bond market after a year‘s gap, with the company looking to raise as much as 70 billion Indian rupees ($858.32 million) through shorter-tenor bonds, according to a term sheet seen by Reuters on Thursday. The telecom operator, which holds a stake in Bharti Airtel, plans to raise funds in three tranches and has invited bids from investors on Friday, three merchant bankers… Continue reading India’s Bharti Telecom returns to bond market after a year with $850m plan
New Smart #3 SUV leaked ahead of full 2023 reveal
The next step in Smart’s electric evolution has been leaked online, with the firm set to introduce a coupé-SUV model that’s much larger than the recently introduced Smart #1. Badged the Smart #3, the sleek model was posted on Instagram by CocheSpias and sports similar styling to the smaller #1. The car shown clearly resembles… Continue reading New Smart #3 SUV leaked ahead of full 2023 reveal
Volkswagen reviewing plans for €2 billion Trinity EV factory
Volkswagen’s plans to build a €2 billion (£1.7bn) factory for its Trinity flagship saloon are currently under review. Construction of the plant in Wolfsburg was planned to begin in spring 2023, having been approved this March by recently ousted CEO Herbert Diess with a view to start building the new premium EV from 2026. The German company targeted a… Continue reading Volkswagen reviewing plans for €2 billion Trinity EV factory
Official: electric vehicles to pay VED from 2025
Electric vehicles will be charged vehicle excise duty (VED) from April 2025, chancellor Jeremy Hunt has announced. Reading the Autumn Statement in the House of Commons, Hunt said the move will make the motoring tax system “fairer”. A social media post from the Treasury added that the change will ensure “all motorists begin to pay… Continue reading Official: electric vehicles to pay VED from 2025
Hungarian firm to develop Stellantis driver-assistance tech
Stellantis has purchased Hungarian technology firm Aimotive, a specialist in software and hardware solutions for autonomous vehicles. The acquisition is intended to accelerate development of STLA Autodrive, the car-making conglomerate’s advanced driver assistance systems (ADAS) platform earmarked for a 2024 launch. STLA Autodrive comprises Level 2, Level 2+ and Level 3 assistance systems, the third taking total… Continue reading Hungarian firm to develop Stellantis driver-assistance tech
Linamar Corporation (TSE:LNR) Stock Goes Ex-Dividend In Just Three Days
Some investors rely on dividends for growing their wealth, and if you’re one of those dividend sleuths, you might be intrigued to know that Linamar Corporation (TSE:LNR) is about to go ex-dividend in just 3 days. The ex-dividend date is usually set to be one business day before the record date which is the cut-off… Continue reading Linamar Corporation (TSE:LNR) Stock Goes Ex-Dividend In Just Three Days
Here’s Why Investors Should Hold on to Lear (LEA) Stock Now
Lear Corporation‘s LEA top line is likely to benefit from buyouts and acquisitions. Its E-Systems unit is gaining from robust consumer demand for vehicle content and notable business wins. However, supply-chain bottlenecks, rising commodity costs and intensive capital spending are likely to add to woes. Let’s delve deeper as to why LEA — currently carrying… Continue reading Here’s Why Investors Should Hold on to Lear (LEA) Stock Now
Hyundai Mobis develops the world’s first IVI technology that opens quick menu with a gesture when your finger goes near the in-vehicle display
IR proximity sensors and gesture detection enable users to select a desired menu with just one touch. Bring your finger near the screen to automatically open the pop-up menu to maximize user convenience. Detection algorithm and automatic monitor calibration boosts accuracy, with greater usability in larger screens. Mobis introduces a series of key technologies for… Continue reading Hyundai Mobis develops the world’s first IVI technology that opens quick menu with a gesture when your finger goes near the in-vehicle display
Details on Wolfspeed’s $500M deal with BorgWarner as semiconductor demand heats up
Reuters Amazon lays off some devices unit staff as it targets 10,000 cuts (Reuters) -Amazon.com Inc on Wednesday said it has laid off some employees in its devices group as a person familiar with the company said it still targeted around 10,000 job cuts, including in its retail division and human resources. The announcement, Amazon’s… Continue reading Details on Wolfspeed’s $500M deal with BorgWarner as semiconductor demand heats up