1.TESLA :-The price of Tesla vehicles is increasing due to supply chain pressures across the auto industry, particularly for raw materials, Elon Musk said on Monday in response to a tweet https://
“Prices are increasing due to major supply chain price pressure industry-wide. Raw materials especially,” Musk said in a tweet.
He was responding to an unverified Twitter account called @Ryanth3nerd, which said, “I really don’t like the direction @tesla is going raising prices of vehicles but removing features like lumbar for the Model Y…”
In May, Tesla increased its Model 3 and Model Y prices, the automaker’s fifth incremental price increase for its vehicles in just a few months, the Electrek website reported https://
During an earnings conference call in April, Musk said Tesla had experienced “some of the most difficult supply chain challenges,” citing a chip shortage. “We’re mostly out of that particular problem,” he added at the time.
In response to the removal of lumbar support on the passenger side in Tesla’s Model Y, Musk said, “Moving lumbar was removed only in front passenger seat of 3/Y (obv not there in rear seats). Logs showed almost no usage. Not worth the cost/mass for everyone when almost never used.”
Earlier on Monday, the Electrek reported https:// that new Tesla Model Y owners are reporting that their electric SUVs are being delivered without lumbar support on the passenger side.
2.INTEL –Intel Corp ‘s CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics.
Pat Gelsinger told a virtual session of the Computex trade show in Taipei that the work-and-study-from-home trend during the COVID-19 pandemic had led to a “cycle of explosive growth in semiconductors” that has placed huge strain on global supply chains.
“But while the industry has taken steps to address near term constraints it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components.”
Gelsinger had told The Washington Post in an interview in mid-April the shortage was going to take “a couple of years” to abate, and that it planned to start producing chips within six to nine months to address shortages at U.S. car plants.
Intel announced a $20 billion plan in March to expand its advanced chip manufacturing capacity, building two factories in Arizona and opening its plants to outside customers.
“We plan to expand to other locations in the U.S. and Europe, ensuring a sustainable and secure semiconductor supply chain for the world,” Gelsinger said, without elaborating.
3. H&M: Swedish online second-hand shop Sellpy, which is majority-owned by fashion giant H&M, said on Monday it was opening in 20 more European countries, in a bet demand for sustainable fashion will keep growing.
The start-up handles the entire sales process from picking up the goods from sellers’ homes, to photographing, selling and shipping. The expansion will take its number of markets to 24 after it first launched in 2014 in Sweden.
Sellpy said in a statement second-hand was one of the fastest growing market segments within the fashion industry.
“Every garment bought pre-owned saves resources for our planet. Demand in our new markets is growing rapidly”, Head of Expansion Gustav Wessman said.
As consumers become increasingly conscious about the origins and sustainability of their clothes, the fashion industry is coming under scrutiny for fuelling a throwaway culture.
The H&M group, which is on the outlook for additional revenue streams following a few rough years with slowing sales in many H&M stores, bought its first stake in Sellpy in 2015.
H&M has invested more than 20 million euros ($24.38 million) in Sellpy and owns around 70% of the company, Wessman told Reuters.
Sellpy said it had started a collaboration with H&M that gives it access to an H&M warehouse in Poland, as well as service around distribution, quality control of garments and order handling.
Earlier this month, Lithuania-based Vinted raised 250 million euros ($305 million) to expand further in Europe and beyond, and said the fundraising put a pre-money valuation on the business of 3.5 billion euros.
Sellpy said more than nine million garments had been sold in total on its platform.
4.KKR & Co:-Private-equity firms KKR & Co and Clayton Dubilier & Rice LLC (CD&R) are nearing a deal to take Cloudera Inc private at a valuation of $4.7 billion, Bloomberg News reported The private-equity giants are likely to finalise a deal on Tuesday to acquire the software firm at $16 a share, or about a 24% premium to its previous close, according to the report.
Cloudera – which has activist investor Carl Icahn as its largest shareholder – has explored a sale since mid-2020 after receiving takeover interest, the report said.
5. KRAFT HEINZ – Kraft Heinz Co said on Tuesday it plans to invest 140 million pounds ($198.83 million) in its food manufacturing facility in northwest England over the next four years, subject to U.S. approval.
The investment would be the company’s biggest expansion of an existing manfacturing site outside the United States in more than 20 years.
The plans for the Kitt Green plant northwest of Manchester would be aimed at adding production of Heinz ketchup, mayonnaise and salad cream. The money will also fund equipment and technology and create up to 50 new full-time jobs, the company said.
The plant will continue making Heinz soups and pasta. It already makes 1.3 billion cans of food per year.
“The Kraft Heinz investment is a vote of confidence in the UK economy from a major U.S. firm and a boost that will mean jobs and growth for the local economy,” UK Minister for Investment Gerry Grimstone said in a statement.
