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Xpeng IPO raises $1.5 billion in New York IPO

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This is China's answer to the electric car
The Alibaba-backed (BABA) Chinese electric carmaker explained on Thursday that it offered a lot more than 99.7 million shares for $15 each individual in its Wall Road debut, increasing about $1.5 billion. It experienced initially planned to provide 85 million shares priced amongst $11 and $13.

Xpeng stock will start off trading on the New York Inventory Trade on Thursday, less than the ticker XPEV.

The IPO arrives as Chinese corporations shown in New York face heightened scrutiny from US officers. Before this month, an advisory council run by US Treasury Secretary Steven Mnuchin proposed that regulators have to have larger obtain to the accounts of Chinese companies trying to get to record on US inventory exchanges.

An accounting scandal at Luckin Espresso (LK), which commenced investing in New York final year, has also contributed to the hostile environment for Chinese businesses.

Pursuing that controversy, the US Senate unanimously accepted laws in May perhaps that would stop companies that refuse to open up their guides from listing on Wall Avenue, a move its sponsors mentioned was made to “kick deceitful Chinese businesses off US exchanges.” The bill even now requirements to be permitted by the Dwelling of Reps and signed by the president just before turning out to be regulation.

In filings to the US Securities and Trade Fee earlier this thirty day period, Xpeng cited the US regulatory atmosphere and the likely passage of the bill as risks for investors to take into account.

“Enactment of any of these kinds of laws or other attempts to raise the US regulatory entry to audit facts could trigger trader uncertainty for influenced issuers, like us, and the sector value of the [US shares] could be adversely impacted,” the electric motor vehicle maker stated.

Launched in 2015, Xpeng is based in Guangzhou and also has an business in Silicon Valley.

It’s not the only Chinese electric powered automaker courting traders in the United States. Li Auto went public on the Nasdaq very last thirty day period. And shares of Nio (NIO), which once positioned by itself as China’s “Tesla killer,” have spiked 408% in New York so far this 12 months, in accordance to facts from Refinitiv.
Xpeng is portion of a crowded discipline of electrical car makers in China, the world’s most significant car industry. The American carmaker Tesla (TSLA) recently upped its recreation in the nation by slashing charges for individuals and generating automobiles at its Shanghai Gigafactory.

— Michelle Toh contributed to this report.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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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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The first Dacia hybrid. “The cheapest hybrid family on the market”

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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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See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

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.

See also  A growing network of electric vehicle chargers

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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