1.TESLA:–U.S. electric vehicle maker Tesla Inc sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019, data from the China Passenger Car Association (CPCA) showed on Tuesday.
Tesla’s December sales, which included 245 for export, were almost three times the amount achieved in the same month last year and 34% higher than November’s sales.
It also brought Tesla’s total sales of China-made cars for last year to 473,078, according to Reuters’ calculations. This accounts for around half of 936,000 vehicles the U.S. automaker delivered globally last year.
Tesla’s Shanghai factory, which started delivering vehicles at the end of 2019, makes electric Model 3 sedans and Model Y sport-utility vehicles for domestic and international markets, including Germany and Japan.
The automaker, which has been able to surmount supply chain woes experienced by rivals to post record quarterly deliveries, said during its third-quarter results in October that the Shanghai plant’s potential annual output exceeded 450,000 vehicles. ()
Tu Le, Beijing-based managing director at Sino Auto Insights, said the December numbers showed that the Tesla brand in China remained strong and that it was also operationally “impressive” given that the Shanghai factory had the capacity to make around 42,000 vehicles a month on average.
“They were well over that number in December. And this is despite the chip and battery shortages that other EV makers dealt with.
2.AIRBUS: Airbus kept its crown as the world’s largest jet maker for the third year running as it outstripped Boeing by delivering 611 jets in 2021, up 8% from the year before, company data showed on Monday.
The numbers gave Airbus an unassailable lead on revenue-generating deliveries – the industry’s main yardstick – after Boeing handed over 302 jets in the first 11 months.
After slashing production due mainly to the pandemic, planemakers are seeing more demand for medium-haul passenger jets and freighters, despite global concern over Omicron.
Reuters reported last week that Airbus’ auditors, who must validate each delivery, were torn between a tally of 605 or 611 jets after last-minute handovers took the total above an official target of 600. The outcome confirms the top end of the range.
Airbus said it sold 771 airplanes in 2021, giving a net total of 507 after cancellations, almost twice the 2020 level.
Chief Executive Guillaume Faury called this the “first fruits of a recovery” and added: “Demand is real”.
Boeing is rebounding more slowly as it tackles the aftermath of a 737 MAX safety crisis and negotiates snags that suspended deliveries of its wide-body 787 Dreamliner.
Recent changes in accounting rules and sharp swings in airline fortunes during the COVID-19 crisis have made it harder to compare the underlying performance of the two plane giants.
3.AMAZON :-For more than a year, Amazon.com Inc and India’s Future Group have been locked in a complex legal stand-off that has stalled Future’s $3.4 billion sale of assets to the U.S. firm’s rival Reliance Industries – with no end in sight.
Here’s what the dispute, seen as key to deciding who gets an upper hand in one of the world’s fastest-growing retail markets, is all about.
WHAT TRIGGERED THE DISPUTE?
In 2019, Amazon and Future, number two player in India behind market leader Reliance, became business partners when the U.S. company invested $200 million in a gift voucher unit of the Indian group.
That deal, Amazon argues, came with certain non-compete clauses that prohibited Future from selling retail assets to certain rivals, including Reliance, run by one of India’s richest men, Mukesh Ambani. The deal also included clauses for settlement of any disputes under rules laid down by the Singapore International Arbitration Centre.
But in 2020, Future – hit hard by the COVID-19 pandemic – decided to sell assets to Reliance.
4.META: -Facebook parent Meta Platforms has delayed its U.S. office reopening date and mandated COVID-19 booster shots for employees returning to office, joining the growing list of companies revamping reopening plans as Omicron surges.
For employees who opt to work from office, the reopening date has been delayed to March 28 from the earlier plan of Jan. 31, the tech giant said on Monday.
All workers returning to office will have to present proof of their booster jabs, while the company closely monitors the Omicron variant situation, it said. Meta currently requires all its U.S. employees coming to office to be vaccinated against the coronavirus.
Employees have until March 14 to decide whether to return to the office, request to work remotely full time or request to work from home temporarily.
Employees who are not vaccinated for medical or religious reasons can request such remote work, a spokesperson said. “Employees who take no action can face disciplinary measures, including termination. Obviously, this would be a last resort,” the spokesperson said by email.
Corporate America has doubled down on vaccination mandates and delayed back-to-office plans as the Omicron variant drives up infections to record levels across the country.
Last week, Citigroup said its U.S. staff who have not been vaccinated against COVID-19 by Jan. 14 will be placed on unpaid leave and fired at the end of the month.
5.VOLKSWAGEN:-Volkswagen AG expects inflation to ease later this year but warned there would be no significant improvement in the global semiconductor shortage, Chief Financial Officer Arno Antlitz told the Wall Street Journal in an interview.
The German carmaker was well-hedged against inflation, Antlitz told the Journal https://www.wsj.com/articles/vw-finance-chief-expects-inflation-to-ease-and-chip-shortage-to-drag-on-11641843428?mod=latest_headlines on Monday, adding that the company had mitigated the impact of raw material and component price increases through rigorous cost-cutting.
According to the report, he said the current high inflation will be temporary, but the company would continue to struggle with a tight supply of chips throughout the year.
Volkswagen in December had said the chip crunch would continue to pose challenges to Europe’s largest carmaker during at least the first half of 2022, while the year as a whole should show a slight improvement.