Image: Getty Images Tesla has revealed it offloaed approximately 75% of its Bitcoin between April 1 and the end of June. The sales, which took place across the second calendar quarter, added $936 million in cash to its balance sheet and were reported as a negative impairment, Tesla said in its Q2 earnings report. … Continue reading Elon Musk’s Tesla has sold 75% of its Bitcoin: Here’s why
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Tesla aims to start 4680 battery cell production at Gigafactory Texas this quarter
Tesla announced that it aims to start 4680 battery cell production at Gigafactory Texas this quarter and quickly ramp up to volume production by the end of the year. Over the last few months, Tesla has been fairly quiet about the production of its new 4680 battery cell that enables its new structural battery pack… Continue reading Tesla aims to start 4680 battery cell production at Gigafactory Texas this quarter
Chinese battery material producer RT Advanced Materials nets nearly $740m in Series D roundShang Qi Capital, the PE arm of SAIC Motor, led the round
RT Advanced Materials, a Chinese producer of lithium-ion battery materials, has closed over 5 billion yuan (nearly $740 million) in a Series D round of financing from investors including Shang Qi Capital. Shang Qi Capital, the private equity (PE) arm of Chinese state-owned automaker SAIC Motor, led the Series D round, in its latest effort… Continue reading Chinese battery material producer RT Advanced Materials nets nearly $740m in Series D roundShang Qi Capital, the PE arm of SAIC Motor, led the round
Asia Digest: Zilingo lays off entire PH team; MetaVerse ropes in ex-BoE senior advisor
Singapore-headquartered fashion platform Zilingo has reportedly laid off its entire workforce in the Philippines while digital green exchange Metaverse announced the appointment of a former Bank of England senior advisor as its new president. Zilingo reportedly lays off entire Philippines team Zilingo, the Singapore-based fashion B2B marketplace embroiled in a bitter tussle between lead investor… Continue reading Asia Digest: Zilingo lays off entire PH team; MetaVerse ropes in ex-BoE senior advisor
Baidu reveals the next-gen robotaxi that will be deployed throughout China
Baidu, the Chinese search engine giant that has plowed money into AI and autonomous vehicle technology, unveiled Wednesday a new all-electric robotaxi that it plans to deploy at scale across China. Baidu will add the Apollo RT6 EV – a cross between an SUV and a minivan that comes with a detachable steering wheel –… Continue reading Baidu reveals the next-gen robotaxi that will be deployed throughout China
UK union staged 24-hour strike in response to Uber files leak
The UK’s App Drivers and Couriers Union (ADCU) staged a 24-hour strike Wednesday to demand Uber be held accountable for the findings of the Uber files, a trove of thousands of leaked confidential documents that show how the ride-hail company broke laws, secretly lobbied governments and exploited driver safety to expand aggressively from 2013 to… Continue reading UK union staged 24-hour strike in response to Uber files leak
EA’s last FIFA game is finally making women’s soccer a priority
After revealing Chelsea star Sam Kerr on its cover earlier this week, EA has unveiled the first trailer for FIFA 23 showing that women’s soccer will finally be a key part of the game. It will include women’s club teams from the top leagues in England and France, along with both the women’s and men’s… Continue reading EA’s last FIFA game is finally making women’s soccer a priority
Samsung says it shipped almost 10 million foldable phones in 2021
Just a couple of short weeks before its next Unpacked event, Samsung has revealed that it shipped “almost 10 million foldable smartphones” worldwide. In a post on the Samsung Newsroom, the company’s chief of Mobile Experience (MX) Business, Dr. TM Roh, said that’s a 300 percent increase from 2020 and that he expects what he… Continue reading Samsung says it shipped almost 10 million foldable phones in 2021
India Digest: OYO’s Kapoor to be Swiggy food-delivery CEO; Auxano Capital launches $25m fundKapoor is currently OYO’s global chief marketing officer
SoftBank-backed food delivery startup Swiggy is close to hiring hotel aggregation platform OYO’s global chief marketing officer, Rohit Kapoor, as the CEO of its food delivery business, according to multiple media reports. Separately, Auxano Capital, an early-stage venture capital firm, has launched a new fund that seeks to raise $25 million, a top executive told… Continue reading India Digest: OYO’s Kapoor to be Swiggy food-delivery CEO; Auxano Capital launches $25m fundKapoor is currently OYO’s global chief marketing officer
China fines ride-hailing giant Didi Global $1.2b for data security breach
China’s cybersecurity regulator said on Thursday it has fined Didi Global Inc 8.026 billion yuan ($1.19 billion), concluding a probe that forced the ride-hailing giant to delist from New York within a year and cast a gloom over the Chinese tech sector. The Cyberspace Administration of China (CAC) said its investigation found Didi had illegally… Continue reading China fines ride-hailing giant Didi Global $1.2b for data security breach