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Huawei is poised to announce a revenue of 860 billion yuan ($118 billion) for 2024, signaling a potential victory over US sanctions as its smartphone sales surged by 25% year-on-year, reaching 45 million units. The company has also made strides in smart driving solutions and chip development, collaborating with global automakers like Nissan and BMW. Despite ongoing restrictions, Huawei's self-developed products and operating system, HarmonyOS, are gaining traction, positioning the firm for growth in the competitive tech landscape.
Elon Musk's cuts to the US Agency for International Development have resulted in GiveDirectly losing $20 million in expected funding, impacting its programs aimed at combating global poverty. The organization, which provides unconditional cash transfers, has suspended initiatives in conflict zones, including support for young entrepreneurs in Mozambique. Despite launching a campaign to raise funds, GiveDirectly faces challenges in securing private donations amid a broader reduction in philanthropic support.
Chinese car buyers are anticipating significant price increases next year as government incentives for vehicle purchases are phased out. UBS analysts predict a surge in sales, particularly for new energy vehicles, due to tax exemptions and a robust stimulus package aimed at boosting car consumption in 2025. Major luxury brands have reported declining sales, highlighting the competitive pressure from established Chinese automakers.
The EU's center-right EPP alliance advocates for maintaining climate targets while allowing exemptions for e-fuels, urging a reversal of the planned combustion engine ban to ensure technological neutrality. Meanwhile, SpaceX's valuation has surged to $350 billion following a significant share sale, and Adidas is under investigation for customs compliance issues. Additionally, China has initiated proceedings against Nvidia for alleged anti-monopoly violations, and Bitcoin has reached a record high of over $106,000, driven by market optimism following Donald Trump's election.
Tata Motors will increase passenger vehicle prices by up to 3% starting January 2025, citing rising input costs and inflation. This price hike will vary by model and variant. Other automakers, including Maruti Suzuki, Hyundai, and luxury brands like Mercedes-Benz and Audi, are also raising prices next month.
Luxury car manufacturers BMW India and Audi will increase prices by up to 3% starting January 1, 2025, due to rising input and transportation costs. Other automakers, including Maruti Suzuki, Hyundai, and Mahindra, are also implementing price hikes ranging from 1-4% across their model ranges to offset increased operational expenses.
In November, plugin EVs captured a 22.8% market share in Germany, with BEVs at 14.4% and PHEVs at 8.4%. The Skoda Enyaq led BEV sales for the third consecutive month, while Volkswagen Group maintained dominance with the top four BEV models. Despite a weak economy and high prices, new affordable BEVs are expected to emerge in 2025 due to tighter emissions regulations.
Norway's EV market is evolving with new entrants like the BYD Sealion and Kia EV3, expected to gain traction in the coming months. The affordable Dongfeng Nammi Box, priced at 199,900 NOK, could disrupt the economy segment by undercutting traditional ICE models. As the market adapts, the focus remains on providing budget-friendly BEV options to replace remaining plugless vehicles.
In November, Sweden's auto market saw plugin EVs hold a 61.7% share, with BEVs at 36.3% and PHEVs at 25.4%. The Tesla Model Y remained the best-selling BEV, while overall BEV sales dropped 11% year-on-year, largely due to tariffs on Chinese models. Despite this, PHEVs gained traction, with new models offering over 50 miles of electric range, indicating a shift in consumer preferences.
Ipsos is preparing a binding offer to acquire Kantar's TV audience data business. Qatar's sovereign wealth fund has purchased a significant minority stake in Audi's Formula 1 team, while Aster DM Healthcare will merge with Quality Care India. Other notable deals include TI Fluid's £1.04 billion takeover by ABC Technologies and Fortress Investment Group's acquisition of Loungers for £350.5 million.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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