Category: Newswire

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.
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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..