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Xiaomi has launched a service allowing buyers to customize its electric sedans with unique trims and paint jobs, adding at least 100,000 yuan to the price. The move targets wealthy consumers seeking personalized vehicles, competing with European luxury brands like Porsche amid China's growing EV market.
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HSBC plans to buy out the remaining shares of Hang Seng Bank for HK$155 per share, delisting it and maintaining its brand. The move aims to streamline operations, address rising bad debts from Hong Kong’s property slump, and reinforce HSBC’s commitment to Hong Kong’s future as a financial hub. The deal is expected to close in mid-2026.
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Recent developments highlight a slowdown in US EV sales and industry shifts. GM adjusts plans due to policy changes, Tesla's new models face criticism, and Chinese automakers expand globally. The industry is navigating policy impacts, market competition, and profitability challenges as EV adoption evolves.
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Rachel Reeves plans to close a UK customs duty loophole allowing small packages from Chinese online retailers like Shein and Temu to enter duty-free, aiming to level the playing field for domestic retailers. The move, announced in her 26 November budget, targets an industry loss of up to £600m annually.