QtrendsXiaomi targets Tesla's top-selling SUV with cheaper rival
Xiaomi is challenging Tesla's best-selling SUV in China by launching an upgraded model at a lower price, despite seeing its own shares dip. The Beijing-based tech giant also announced a HK$20 billion buyback plan, signaling confidence in its automotive push. Chinese brand valuations are rising, and analysts see budget-friendly EVs as China's next export wave. The move underscores intensifying competition in the world's largest auto market.
Sources:
Leaps seen in value of Chinese brands
(China Daily)
Ferrari unveiled its first fully electric vehicle, but the reception from investors and consumers has been largely negative. Shares slumped after the debut, reflecting skepticism about the iconic sports car brand's pivot to electric. Criticism has emerged in Italy and beyond, questioning whether Ferrari can maintain its brand cachet in the EV era. The market response highlights the challenges even luxury automakers face in electrification.
BP has removed its chairman over what the company described as serious concerns about his conduct, including reports of bullying and overbearing behavior. The ousted chairman has vowed to challenge the accusations, claiming he was wronged. The abrupt dismissal has drawn significant media attention and raises questions about governance at the energy giant. Both CNN and BBC reported details of the internal rift.