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Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date.CNBC | Evelyn ChengBEIJING — Chinese smartphone company Xiaomi announced Tuesday it would formally launch its long-awaited electric car on March 28.The company claimed in a social media post its SU7 electric car "would be delivered as soon as it is launched," according to CNBC's translation of the post written in Chinese. The post said the company was opening…

Philippine Department of Trade and Industry Secretary Alfredo Pascual (R) and US Commerce Secretary Gina Raimondo attend a press conference in the Philippines on March 11, 2024.Jam Sta Rosa | Afp | Getty ImagesChinese electric cars can one day drive on U.S. roads if there are enough government controls on software and sensors, U.S. Commerce Secretary Gina Raimondo told CNBC's Eunice Yoon in an exclusive interview Tuesday."It's possible. I could see a day when we have those vehicles on roads in the United States,"…

Nio holds a product event in Shanghai on Sept. 21, 2023.Evelyn Cheng | CNBCBEIJING — Chinese premium electric car company Nio said Thursday it plans to reveal its mass market brand in May.Executives confirmed the new brand will be named "Le Dao" in Chinese, and said the name is meant to reflect families — the target consumer segment — having a happy time together.Nio, founded in late 2014, has so far focused on the higher end of the market with SUVs and sedans that can cost more than Tesla's Model S or Model Y, but come…

New cars of the "Dolphin" model from Chinese car manufacturer BYD are in the harbor. Picture Alliance | Picture Alliance | Getty ImagesChinese electric vehicle makers shares listed in Hong Kong fell on Tuesday as worries of price wars in the sector grew.China's EV market, the world's largest and most crowded, is seeing fierce competition from local players as well as U.S. giants like Tesla to win as much market share as possible through promotions and price cuts."While across the board price cuts will put pressure on…

Shares of Info Edge fell 3% on Saturday to the day's low of Rs 5,131.75 on the NSE after the Naukri.com operator informed the exchanges about Google's decision to remove/delist the company's mobile applications, including Naukri.com and 99acres from the Google Play Store.The company in its filing to the exchanges said that Google's decision comes as a surprise since this action was taken without giving due and sufficient notice to Info Edge.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Chinese automaker Geely unveils first model of its new Lynk & Co brand in Berlin. Ullstein Bild Dtl. | Ullstein Bild | Getty ImagesBEIJING — Companies from Nvidia to Huawei are chasing the market for in-vehicle tech as the electric car industry booms, with Ecarx emerging as a new contender.Since 2017, Chinese car conglomerate Geely's founder and chairman, Eric Li, has been building Ecarx that provides software and chip systems for digital car cockpits and driver-assist.The company on Wednesday reported its…

Igor Golovniov | Lightrocket | Getty ImagesAltice USA shares spiked 36% on Monday following a report that Charter Communications is considering buying the broadband company.Charter is working with financial advisors as it considers whether it would make sense to buy Altice USA, Bloomberg reported Monday, citing people with knowledge of the matter.Altice hasn't been approached by Charter to begin talks on a possible transaction, a person familiar with the matter told CNBC.The larger company's shares dropped about 2% on…

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date.CNBC | Evelyn ChengBEIJING – Chinese smartphone company Xiaomi believes it's identified a consumer niche that will pay up for its upcoming electric car in a fiercely competitive market."We think it's a good starting point for us in the premium segment because we have already 20 million premium users in China based on the smartphone," Xiaomi Group President…

Vehicles are seen on a display at a Carvana dealership on February 20, 2023 in Austin, Texas.Brandon Bell | Getty ImagesCarvana shares surged 30% Friday morning after posting its first-ever annual profit and receiving a pair of upgrades by Wall Street analysts.The used-car retailer has been trimming inventory and expenses as it rebounds from the fall-off from a pandemic peak. After Covid drove increased demand for online car sales, the company's stock soared. But after that demand wore off, Carvana was forced to begin…

Intuitive Machines' Nova-C lunar lander on display at NASA's Marshall Space Flight Center.NASAShares of Intuitive Machines surged in premarket trading on Friday after the company's successful first moon landing.Intuitive Machines' cargo moon lander, "Odysseus," became the first privately developed spacecraft to land on the lunar surface on Thursday – as well as the first U.S. spacecraft to soft land on the moon in over 50 years.The Houston, Texas company confirmed that the IM-1 mission lander was standing upright and…