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Huawei has launched the Maextro S800, its largest and most luxurious electric sedan, developed in partnership with JAC and Hyundai. Measuring 5,480 mm in length, it offers two powerful configurations: a BEV with 852 horsepower and an EREV with 1,006 horsepower, alongside an innovative unmanned EV charging station. Pre-orders have exceeded 2,000 units, with prices ranging from $143,000 to $213,000, as deliveries are set to begin in mid-2025.
Major indexes fell but rebounded on Friday, with leading stocks like Nvidia flashing buy signals. Tesla's Q4 deliveries missed expectations, leading to a sharp stock decline, while BYD outperformed in EV sales. GM and Ford reported strong Q4 sales, with significant growth in EV sales for both companies.
SoundHound AI (SOUN) stock surged 16.4% to close at 19.69, following a price-target increase from Wedbush Securities analyst Daniel Ives, who raised it to 22 from 10. The company, recognized as an underappreciated player in AI, is set to expand its market presence in automotive and restaurant sectors, with plans to enter e-commerce by 2025. SoundHound's partnership with Nvidia aims to enhance its generative AI voice technology, positioning it as a long-term winner in the AI revolution.
India's IPO market is experiencing a surge, with 298 companies raising Rs1.4tn ($16.6bn) this year, a 140% increase from last year. Predictions for 2025 are optimistic, with major players like LG and Flipkart planning offerings, but concerns about global market volatility and investor sentiment remain. Meanwhile, the CFA certification faces declining interest, particularly among Chinese students, as the Indian education system struggles to produce well-rounded finance professionals amidst technological advancements.
In Q3 2024, fully electric vehicles (EVs) made up 7.0% of US auto sales, a slight decrease from 7.4% in Q2. Despite a slowdown in growth, EV sales rose 8% year over year, with Tesla maintaining a dominant position, though its market share continues to decline as competitors like Ford, GM, and Honda gain traction.
Nickel mining in Indonesia, particularly on Kabaena Island, is accelerating deforestation and causing severe environmental and social issues, including pollution and community conflicts. As global demand for nickel surges due to electric vehicle production, local residents and Indigenous communities are facing significant human rights violations and ecological destruction. Civil society groups are advocating for protective measures to mitigate these impacts and ensure sustainable practices in the industry.
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.
Auto stocks declined on Monday, led by Hyundai Motor and Tata Motors, following a report of weak November retail sales. The Nifty Auto index fell 0.44%, with Hyundai shares down 1.2% and Tata Motors down 0.7%, amid concerns over a 13.7% drop in passenger vehicle registrations and a 6.1% decline in commercial vehicle sales. The broader market also faced losses, with the BSE Sensex down 275 points.
LG Electronics India has filed a draft red herring prospectus with Sebi for a public issue expected to exceed Rs 15,000 crore, positioning it among India's largest IPOs alongside major firms like Hyundai Motor India and LIC. The offer will consist of up to 10.18 crore equity shares, with no proceeds going to the company. Lead managers for the issue include Morgan Stanley, JPMorgan, Axis Capital, BofA Securities, and Citi.
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