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GAC denies rumors of acquiring Evergrande NEV's Nansha plant amid new venture
Guangzhou Automobile Group (GAC) has denied rumors that its new subsidiary, Huawang Auto, formed in partnership with Huawei, will acquire Evergrande NEV's Nansha plant. GAC clarified that there have been no discussions regarding the purchase, emphasizing that Huawang Auto will focus on utilizing existing production capacity and leveraging Huawei's expertise in product development and marketing. The new luxury intelligent NEV brand is set to launch soon, with the first model priced around CNY300,000.
Global Billionaire Wealth Surges Amid Crypto Boom and Economic Shifts
In 2024, the global billionaire population reached a record 2,682, with a 5.4% increase in numbers and a 16% rise in average wealth to $14 billion. The U.S. added 84 billionaires, while China saw a decline of 93 due to a real estate crisis, and Europe remained stable, with France achieving the highest average billionaire wealth.
global billionaire growth driven by technology and cryptocurrency trends
In 2024, the global billionaire population reached a record 2,682, with a 5.4% increase in numbers and a 16% rise in average wealth to $14 billion. The U.S. added 84 billionaires, while China saw a decline of 93 due to a real estate crisis, and France emerged with the highest average billionaire wealth in Europe.
Chinese investors demand updates on Evergrande collapse amid financial losses
Hundreds of Chinese investors affected by the collapse of China Evergrande have initiated a coordinated campaign to seek updates from authorities regarding the failed property developer. This effort reflects growing frustration among those who lost their savings in the crisis.
evergrande nevs stake sale talks with potential buyer have ended
China Evergrande New Energy Vehicle Group Ltd. announced that liquidators have ended discussions with a potential buyer for a 29% stake in the company, with an option for an additional 29.5%. The talks, which included a preliminary agreement for a new line of credit to support production, have now ceased.
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