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EV maker Lucid to cut workforce by 6%
LUCID Group said on Friday (May 24) it would reduce its workforce by 6 per cent, or around 400 employees, as the electric vehicle industry grapples with slower growth. Shares…
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EU Hits Oreo Maker Mondelez With 337.5 Mn Euro Antitrust Fine
The EU on Thursday slapped a 337.5 million euro ($366 million) fine on Mondelez, the US confectioner behind major brands including Toblerone and Oreo, for forcing consumers to pay more…
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Vietnam EV maker VinFast’s challenges escalate risk for parent Vingroup
AS VIETNAM’S biggest conglomerate Vingroup doubles down on its electric vehicle business with ambitious global expansion plans, it faces growing financial risks stemming from loss-making unit VinFast Auto. VinFast’s rapid…
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EV maker Lucid beats Q1 delivery estimates
LUCID reported first-quarter deliveries above market expectations on Tuesday (Apr 9) as price cuts helped boost demand for its luxury electric sedans. The company handed over 1,967 vehicles in the…
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Chinese smartphone maker Xiaomi starts delivering the first of more than 100,000 EVs ordered
CHINESE smartphone maker Xiaomi on Wednesday (Apr 3) said it has received more than 100,000 orders for its first car – a sporty electric vehicle (EV) called the SU7 –…
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Top capsule-toy maker Bandai bets on huge market outside Japan
BANDAI, the Japanese toymaker that’s enjoying a growth spurt for anime characters, collectible cat figurines and other miniature goods sold in plastic capsules, will open more stores abroad to capitalise…
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Video Game Giant Embracer Sells ‘Borderlands’ Maker To Take-Two
Swedish video game group Embracer said Thursday it was selling Gearbox Entertainment, the developer of the popular first-person shooter franchise “Borderlands”, to US company Take-Two for $460 million. Embracer chief…
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Apple’s iPhone maker sets record high as AI mania persists
SHARES of Hon Hai Precision Industry soared as artificial intelligence (AI) mania outweighs concerns over a sluggish recovery in the smartphone sector. Hon Hai, which makes iPhones for Apple, rose…
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Chinese EV maker BYD targets 20% jump in annual sales: sources
CHINESE electric vehicle maker BYD has set a 3.6-million-unit sales target for 2024, a jump of 20 per cent from its record-breaking sales last year, according to three people who…
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Chinese EV maker Nio cuts Q1 deliveries forecast amid tepid demand
CHINESE electric-vehicle maker Nio lowered its forecast for first-quarter deliveries on Wednesday (Mar 27), as it grapples with slowing demand and a price war in China. The company’s US-listed shares…
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EV maker VinFast signs partnership agreements with 15 dealers in Thailand
VIETNAMESE electric vehicle (EV) maker VinFast said on Wednesday (Mar 27) that it had signed partnership agreements with 15 dealers in Thailand, its latest effort to expand in South-east Asia…
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Luxury EV maker Lucid to raise US$1 billion from Saudi’s PIF affiliate
LUCID is raising US$1 billion in capital from an affiliate of Saudi Arabia’s Public Investment Fund (PIF), it said on Monday (Mar 25), sending the shares of the luxury electric…
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Luxury EV maker Lucid to raise US$1 billion from Saudi’s PIF affiliate
LUCID is raising US$1 billion in capital from an affiliate of Saudi Arabia’s Public Investment Fund (PIF), it said on Monday, sending the shares of the luxury electric carmaker up…
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Alibaba raises US$317 million from sale of stake in EV maker XPeng
ALIBABA Group Holding raised US$317 million from the sale of about 33 million of US-traded shares of XPeng, a source familiar with the matter said. Taobao China Holding, an Alibaba…
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Chinese robotic vacuum maker Dreame Tech is said to consider IPO
DREAME Technology, a Chinese maker of smart home appliances such as robotic vacuum cleaners, is considering an initial public offering that could raise at least US$300 million, people familiar with…
