Economy
Evergrande misses payments again | China
Debt holders of the Chinese construction company Evergrande said on Tuesday that they had not received interest payments on the three-dollar bonds as China’s corporate debt is trading at its highest prices in a decade.
The world’s most indebted construction company was due to pay interest totaling $ 148 million (€ 128 million) by Tuesday afternoon in Hong Kong.
Investors said they did not receive the money, according to two people familiar with the matter, quoted by the Financial Times.
The last time the bonds were traded at prices ranging from 21 to 22 cents per dollar.
Last month Evergrande missed an important payment $ 83.5 million (€ 72.2 million) interest on the bond due next year.
The disruption triggered a 30-day grace period before the company officially defaulted.
The company has already missed at least five bond interest payments.
Evergrande liquidity crisis raised doubts about the financial condition China’s real estate sector amid declining sales and Beijing’s pressure on developers to cut debt levels.
The high-interest Asian bond market, where Chinese developers are among the largest issuers after decades of rapid urbanization in the country, has been shaken in recent days by panic selling that pushed the market towards higher prices in a decade.
Sinic Holdings, another Chinese real estate developer, said late Monday that it would “probably” default due to “lack of financial resources.”
The bonds are trading at about 25 cents for every dollar.
Fantasia, a construction company founded by the niece of former Chinese vice president Zeng Qinghong, also defaulted on the $ 206 million bond.
Sentiment on Evergrande bonds deteriorated significantly in July after a series of incidents, including the freezing of its Chinese bank deposits and the suspension of the sale of some projects.
New home and land sales in China’s real estate sector account for about a quarter of the country’s economy.
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Economy
Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners
OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.
“The Centodieci combines all the values of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.
This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.
This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.
Recall that each unit costs the owners eight million euros before taxes.
Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.
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Economy
The first Dacia hybrid. “The cheapest hybrid family on the market”
BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.
The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.
The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”
Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.
Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.
Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.
Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…
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Economy
See how Tesla tests its electric Semi truck in the worst-case scenarios
Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.
Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.
Tesla Semi is already on the market
Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.
To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.
Tests to prove its durability
It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.
This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.
high quality electric truck
Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.
Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.
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