Xiaomi to Open Car Plant in Beijing With – Latest news headlines


Chinese smartphone giant Xiaomi will build a plant that can produce 300,000 vehicles annually in Beijing for its electric vehicle unit, authorities in the capital said on Saturday.

The plant will be constructed in two phases and Xiaomi will also built its auto unit’s headquarters, sales, and research offices in the Beijing Economic and Technological Development Zone, the government-backed economic development agency Beijing E-Town said on its official WeChat account.

Beijing E-Town said it anticipated the plant reaching mass production in 2024, a goal announced by Xiaomi’s Chief Executive Lei Jun in October.

In March, Xiaomi said it would commit to investing $10 billion (roughly Rs. 75,000 crores) in a new electric car division over 10 years. The company completed the business registration of its EV unit in late August.

The company has been opening thousands of stores to spur domestic sales growth for its smartphone business but eventually intends to use these shops as a channel for its plans to sell electric vehicles.

© Thomson Reuters 2021


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Telangana: Ex-sub-inspector dies as car falls into well | | Live Newspaper Hyderabad


HYDERABAD: A retired sub-inspector was killed after he lost control and drove straight into a huge well abutting the road at Chinna Mulkanoor village in Karimnagar district on Thursday.
Alerted by locals, cops and fire officials swung into action with no clear information on number people stuck in the car. It took 8 hours of rescue operation to finally bring out the submerged car with only the former SI’s body trapped inside.
District police said that the car driven by ex-SI Pappaiah Naik was speeding on the stretch between Kothapalli and Husnabad when it veered off the road and fell into the huge open well.
A video captured by locals showed the car slowly sinking. By the time police reached the spot and some locals jumped into the water, the car was invisible.
Later, officials of fire and revenue department came in and a crane was also brought to the spot. By then a huge crowd had gathered around the well.
Swimmers finally found the car but by then officials feared people inside would have long been dead.
Rescuers tied the car with a rope and pulled it out with great difficulty after more than 8 hours with the lone body inside. Till the car was brought out no one knew exactly how many were stuck in it.
A few passersby had earlier claimed to cops that there were three people in the car.



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Man suffers burns as car catches fire in Hyderabad | | Sidnaz Blog


HYDERABAD: A person suffered burn injuries after a moving car in which he was travelling caught fire while plying on a flyover at ORR, Shamshabad on Thursday.
RGI Airport police said that when a car, being driven by S Srinivas, 55, was travelling from Kothur to reach Gachibowli — enroute on a flyover at Shamshabad, ORR, the car caught fire.
It was a DCM driver, using the same route, who alerted the car driver about the fire. Meanwhile, the fire spread quickly in the diesel engine car. By the time the car driver could stop his car and come out, he suffered 65% burn injuries due to smoke.
Based on the information given by passers-by, an ambulance and a fire extinguisher reached the spot. The injured person was immediately shifted to a hospital, where he is undergoing treatment.
Later, the fire was doused by the officials of fire department using fire extinguisher. The clues team reached the spot and prima facie found that short circuit could be the reason behind the mishap.
By the time the car driver could stop his car and come out, he suffered 65% burn injuries due to smoke. Later, an ambulance and a fire extinguisher reached the spot



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Latest News Today – 3 Delhi Residents Killed After Their Car Rams Into


The injured have been admitted to district hospital, the police said. (Representational)

Bareilly:

Three Delhi residents, including a woman, were killed when their car rammed into a tractor on the national highway in Meerganj police station area of Bareilly district on Sunday, police said.

The victims were travelling to Shahjahanpur to attend a marriage function when their car hit the tractor moving ahead of them, Superintendent of Police (rural) Raj Kumar Agarwal said.

The dead have been identified as Monu (40), his mother Basanta (65) and Ayush (21). Their bodies have been sent for post-mortem, the police officer said.

The injured have been admitted to district hospital, the police said.



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Latest News Today – Audi Car Speeding In Heavy Rain Hits Auto-Rickshaw In


The auto-rickshaw was smashed when it was hit by the Audi car in Hyderabad.

Hyderabad:

A video of reckless driving by a man in a speeding Audi car which hit an auto-rickshaw from behind and sent it spinning on the roads of Hyderabad amid heavy rainfall late in the night was shared by the Cyberabad police on its Twitter account this morning.

A passenger inside the auto-rickshaw died on the spot after the accident near Inorbit Mall in Madhapur area, the police said, while the driver has been injured.

“Reckless speed and drunk driving of an Audi car kills a passenger (an employee of Prism Pub!!) in the auto yesterday early morning near Inorbit Mall,” the Cyberabad police said on Twitter, while sharing the CCTV footage of the accident.

The passenger was identified as Umesh Kumar, an employee of Prism Pub in Hyderabad, who was returning home to Begumpet, when the Uber auto he was travelling in was hit from behind by the luxury car.

Two men who were in the car at the time of the accident, Sujith Reddy, a civil engineering student, and Ashish, an employee at software firm HCL, have been arrested.

Officials initially identified Raghunandan Reddy, a businessman, as the owner of the car. Mr Reddy’s driver confessed to the crime but an investigation by the police revealed something else.

The CCTV footage and questioning of Mr Reddy’s son, Sujith, revealed that he and Ashish were drunk after coming back from a private party and were driving the vehicle on high speed when it hit the auto-rickshaw.

Auto-rickshaw driver Sreenu said it was his first trip in the early hours of Sunday when he picked up a passenger and was heading towards Begumpet. He said his rickshaw was suddenly hit and it went into a spin near the Ikea crossing in the city.

“I was lucky to escape alive. My passenger who was about 37-years-old died. My auto is just about four months old. It is now smashed. I have three daughters. I have money to repay that I borrowed for financing the auto. How should we survive?” the auto-rickshaw driver asked.

Last week, a woman died and five others were seriously injured after a Mercedes SUV ran over a pedestrian and rammed an auto-rickshaw and other vehicles in Hyderabad’s Old City area. The police said the owner of the Maharashtra-registered car had fled with his family but was arrested later.





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Latest News Today – Maruti Suzuki Hikes Car Prices Citing Rising Input


Maruti Suzuki price hike is planned in second quarter of the current financial year.

The country’s largest car maker – Maruti Suzuki – on Monday announced that it will undertake another price hike for its vehicles as the cost has been adversely impacted due to increase in various input costs. This is the fourth price hike Maruti Suzuki has undertaken so far this year. The Gurugram-based company had undertaken first price hike of the year in January and then again increased car prices twice in April.

“Over the past year the cost of the Company’s vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative for the Company to pass on some impact of the above additional cost to customers through a price rise,” Maruti Suzuki said in a stock exchange filing.

The company did not mention the quantum of price hike but said that the increase will wary for different models and it is planned in the second quarter of the current financial year.

Car makers across the country are struggling with rising metal cost and shortage of semiconductors in the market, analysts said.

Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cellphones to various other electronic items.

The usage of semiconductors in the auto industry has gone up globally in recent times with new models coming with more and more electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems.

Following the price hike development, Maruti Suzuki shares traded 1.12 per cent lower at Rs 6,881, underperforming the Sensex which was down 0.4 per cent.



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Latest News Today – Apple Car: Company Said to Be in Talks With China’s


 Apple is in early-stage talks with China’s CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.

The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.

Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two of the sources.

CATL, which supplies major car makers including Tesla, is reluctant to build a US factory due to political tensions between Washington and Beijing as well as cost concerns, the two people said.

It was not immediately clear if Apple is also talking to other battery makers.

Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world’s biggest automotive battery maker, and BYD, the world’s No. 4, also declined to comment.

Shares in BYD extended gains on the news to be up 5.4 percent in Hong Kong in late afternoon trade and closing 6.5 percent higher in Shenzhen. CATL reversed earlier losses to finish 0.5 percent higher.

Apple is in favour of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive, the four people said.

It has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle, Reuters reported in December.

People familiar with the matter have previously said Apple’s planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple’s own technology or designs.

The discussions come at a time when the US government is looking to attract more EV manufacturing. US President Joe Biden’s proposed $1.7 trillion (roughly Rs. 1,23,90,960 crores) infrastructure plan includes a $174 billion (roughly Rs. 12,68,310 crores) budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives.

Many battery makers are ramping up production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.

Chinese battery makers are expected to grow at a faster pace than their foreign peers thanks to further expansion of the world’s biggest EV market, SNE Research said in a June report.

Reuters reported last week that CATL is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world’s No.1 supplier. The factory would near Tesla’s China manufacturing operations.

© Thomson Reuters 2021


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.



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Dogecoin, Gartner, SmileDirectClub, Avis Budget: What to Watch | Sidnaz Blog


Here’s what we’re watching ahead of Tuesday’s opening bell.

  • U.S. stock futures ticked down, suggesting that technology stocks will weigh on major indexes after the opening bell.
  • Futures tied to the broad S&P 500 index slid 0.6%. The benchmark advanced 0.3% on Monday, despite declines in giant technology stocks. Futures linked to the Nasdaq-100 fell 0.9% Tuesday. Read our full market wrap here.
What’s Coming Up
Market Movers to Watch
  • Gartner


    IT 15.24%

    shares jumped more than 13% premarket after the research and advisory company reported first-quarter revenue and earnings that topped expectations and raised its full-year guidance amid cost management and strong demand.

  • CVS Health


    CVS 2.57%

    shares rose 1.8% ahead of the bell after it reported quarterly results and raised its earnings-per-share guidance for 2021.

  • Pfizer


    PFE 0.74%

    was also on the rise premarket, up 0.8% after it logged larger first-quarter revenue and profit figures, driven in part by a $3.5 billion sales contribution from the company’s Covid-19 vaccine.

  • Avis Budget


    CAR -4.63%

    shares slipped 2.9% premarket. The car-rental company reported another quarterly loss and sales that dropped 22%.

  • Under Armour


    UA -2.97%

    class-C shares slipped 1.2% premarket. The apparel company agreed to pay $9 million to settle regulatory claims that it failed to disclose that it was pulling forward orders from future quarters. It also released its earnings and is now guiding for full-year earnings rather than a loss.

  • SmileDirectClub


    SDC -18.44%

    dropped 9.3%. The provider of teeth-straightening retainers said a cyberattack last month disrupted the company’s operations and will hurt its sales this quarter.

Advertising for the SmileDirectClub in Times Square in New York on the day of its IPO, Sept. 12, 2019.



Photo:

Richard B. Levine/Levine Roberts/Zuma Press

Market Facts
  • The value of meme cryptocurrency dogecoin rallied about 34% Tuesday to trade as high as 52 cents—a new record high for the digital asset whose creators never intended for it to have any real value. The rally makes all dogecoin in circulation worth more than $60 billion, surpassing the market cap of large companies like

    Twitter


    TWTR -1.25%

    and

    Dollar General.


    DG -0.76%

    Tuesday’s price rise accelerates Monday’s gains after trading app eToro added dogecoin for trading.

  • Brent crude prices have risen more than 30% in 2021, and on Tuesday morning ticked up another 1.2%.
  • On this day in 1979, the first modern leveraged buyout using high-yield junk bonds—a $381 million deal to take Houdaille Industries private—was completed by KKR. Over the next six years, Houdaille produced a 33.9% average annual return for KKR’s institutional investors.
Chart of the Day

U.S. stocks such as Tesla,

Apple


AAPL -3.43%

and

GameStop


GME -3.34%

are attracting investors, as negative bank rates prompt risk-averse Germans to shift their savings.

Must Reads Since You Went to Bed

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



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Latest News Today – Assam Poll Team With EVM Ride In BJP Candidate’s Car,


As the BJP candidate’s reached the strong room locality, opposition supporters identified it.

Highlights

  • Violence was reported in Assam’s Barak Valley region yesterday
  • The police fired blank shots in the air, baton-charged at mob
  • The EVM is secure as are the election personnel, authorities have said

Guwahati:

The Election Commission today ordered fresh voting in one polling station of Assam’s Ratabari seat following a controversy over officials transporting an electronic voting machine (EVM) in a BJP candidate’s car yesterday. The four officials involved have been suspended, a release from the poll panel said. The incident had led to violence in Karimganj district where the seat is located. The car belonged to the wife of Krishnendu Paul, a BJP contestant in nearby Patharkandi. Top opposition leaders today cited this to allege malpractices by the ruling BJP.

Assam went through the second phase of polling yesterday, recording over 77 per cent turnout and a few instances of violence. One of the incidents was in Karimganj, with a video of the disturbance being widely shared on social media.

It followed the break-down, at around 9pm yesterday, of the Election Commission-assigned vehicle of a polling team posted to polling station number 149 at Ratabari’s Indira MV School. It was on its way back to the strong room after voting, official sources informed NDTV. The presiding officer contacted the sector officer for a replacement vehicle and was assured of one.  

At around 9.20pm, however, the staff took a lift in the private car without checking its ownership, the poll panel’s release said today. Krishnendu Paul’s electoral affidavit confirm that his wife, Madhumita Paul, owned the vehicle (registration number: AS10B0022).

As the car approached the locality where the strong room is situated by around 10pm, supporters of the opposition identified the vehicle and mobbed it, along with the driver; the police staff ran for safety. They pelted stones at the vehicle and abused the passengers.

The district administration had to resort to police action to disperse the crowd and secure the vehicle, the EVM, and the polling personnel, officials said.

“On examination, the polled EVM comprising of BU, CU and VVPAT was found to be with its seal intact without any damage whatsoever. All the items have been deposited in the strong room,” the release said. The officials involved have been suspended, Election Commission sources have said, with repolling ordered at station 149. The Presiding Officer has been issued a show cause notice for violation of the transport protocol.

The opposition has cited the incident to allege “EVM capturing” by the ruling BJP. The Congress’s Gaurav Gogoi, for instance, has said “this is the only way the BJP can win Assam”.

Dubbing the BJP a serial offender in such cases, Congress leader Priyanka Gandhi, in a series of tweets, sought “a serious re-evaluation of the use of EVMs” by all national parties.

Badruddin Ajmal of the AIUDF, which is in alliance with the Congress, tweeted saying “stealing EVMs” was the BJP’s last resort after all its other moves — “polarisation”, “buying votes”, “doublespeak on CAA”, among others — had failed.

The final phase of polling in the state will be held on April 6 and the results will be declared on May 2.





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Latest News Today – Maruti Suzuki To Increase Car Prices Starting April


The country’s largest car maker – Maruti Suzuki – will undertake price hikes on the back rising input costs and the price increases shall vary for different models, the Gurugram-based company said in a stock exchange filing.

“Over the past year the cost of company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in April, 2021,” Maruti Suzuki said in a stock exchange filing.

In January, rival Mahindra and Mahindra increased prices of its personal and commercial vehicles by 1.9 per cent, while Tata Motors raised prices for its passenger vehicles by up to Rs 26,000.

In January, Maruti had cited a rise in input costs and said it will hike price up to Rs 34,000 on some car models.

Auto sector was already seeing weak demand and higher costs when the COVID-19 pandemic dealt a blow last March.

Since then, carmakers have seen demand return but have warned about uncertainties ahead. Several carmakers have increased prices this year to keep up with rising costs.



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