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Hyundai has commenced production of its Ioniq 5 EV in Georgia, ahead of schedule, while Toyota has delayed its EV rollout in the U.S. amid declining demand. Tesla has discontinued its cheapest Model 3 variant, reflecting market pressures. Ford is addressing charging concerns with a new incentive program for EV buyers.
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Tesla reported a 6% increase in vehicle deliveries for Q3 2024, reaching 463,000 units. This rebound follows a challenging first half of the year and is attributed to lower financing rates and competitive pricing. However, the company faces stiff competition and market challenges, particularly in Europe and China.
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Tesla has removed its Standard Range Rear-Wheel Drive Model 3 from its website, raising the entry price for its vehicles. This decision comes amid rising tariffs on Chinese EVs and a shift in focus towards the Long Range Model 3. Analysts view this as a strategic move in a competitive market.
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UK Foreign Secretary David Lammy's recent visit to China aimed to reset diplomatic ties strained by human rights issues and geopolitical tensions. Meeting with Chinese officials, he emphasized the need for pragmatic engagement while addressing concerns over Hong Kong and Xinjiang. The visit included discussions on trade, climate change, and cooperation in various sectors.
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Google, Amazon, and Microsoft are increasingly investing in nuclear energy to meet the rising electricity demands of AI technologies. Google has signed a groundbreaking agreement with Kairos Power to deploy small modular reactors (SMRs), aiming to generate 500 megawatts of carbon-free power by 2035, with the first reactor operational by 2030.
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Ratan Tata, former chairman of Tata Group, passed away at 86, leaving behind a legacy of bold acquisitions and philanthropy. His leadership transformed Tata into a global conglomerate, impacting industries from steel to automobiles. Tributes pour in as India mourns a visionary leader who shaped the nation's corporate landscape.
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Local governments in China are struggling with massive debts, leading to defaults on payments to businesses. This situation has been exacerbated by the COVID-19 pandemic, affecting projects and employment. Experts urge prioritization of debt repayment over new projects to stabilize the economy.