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Following Southeast Asian countries, Hon Hai plans to produce electric vehicles in India

According to Taiwanese media “Economic Daily”, it is reported that Hon Hai is considering producing electric vehicles in India. This is not only a part of the decentralized global layout, extending its Asian manufacturing supply chain beyond mainland China, but also the further expansion of Hon Hai’s electric vehicle layout in India after Gogoro, which assisted the alliance last year, established a production line in India.

According to reports, Hon Hai’s Foxconn iDPBG Zhengzhou plant sent more than 20 cadres to Hon Hai’s India plant around the Dragon Boat Festival to impart experience and strengthen the layout of the Indian supply chain. Since the Zhengzhou plant is the largest production base for iPhones, it is expected that Hon Hai is strengthening its mass production capacity for iPhones made in India. At present, it seems that Hon Hai is not only interested in manufacturing iPhones in India, but also has a high interest in manufacturing electric vehicles.

According to the “India Economic Times” report, sources said that in addition to Vietnam, Indonesia and other Southeast Asian countries, Hon Hai’s electric vehicle company Honghua Advanced is considering producing electric vehicles in India. At present, Hon Hai has a wholly-owned factory near Chennai, India, producing iPhones, and a subsidiary, Bharat FIH, which mainly produces mobile phones for Chinese brands such as Xiaomi. Hon Hai is also interested in products other than mobile phones, the people added.

The “India Economic Times” quoted sources as saying that the Tamil Nadu government hopes that Hon Hai can expand investment. “They have expressed interest in electric vehicle manufacturing, so we told them that Tamil Nadu is a good place to go.” Another government official with knowledge of the matter said that Hon Hai is also concerned about the potential demand for electric vehicles in the Indian market; “Hon Hai did not plan to manufacture in India at first, but recently Hon Hai has been studying the Indian auto market, and is considering entering India, Vietnam and Indonesia to serve other The market expands the manufacturing base.”

Sales of electric passenger cars in India jumped 1.5-fold to 17,800 in 2022, data from the Federation of Automobile Dealers Associations of India (FADA) showed, underscoring the country’s strong demand for electric vehicles. It is worth mentioning that the Investment Promotion Council of Thailand announced this month that it has approved the establishment of a joint venture between Hon Hai and the National Petroleum Corporation of Thailand (PTT) to establish an electric vehicle company, which is worth 36.1 billion baht (about 1.04 billion US dollars).

Masayoshi Son bets on ARM listing, can SoftBank take this to boost stock prices

SoftBank Group Chairman and CEO Masayoshi Son reportedly said today that he was thankful that regulators around the world had rejected SoftBank’s sale of British chip designer ARM to Nvidia, as the company now hopes to use ARM’s listing to boost its share price .

“ARM is the cutting-edge engine of the information revolution,” Son said at the annual shareholder meeting. “It is the core of the SoftBank Group’s core.”

A large part of Son’s speech that day was devoted to ARM, the company that dominates the global semiconductor design industry, explaining how the company is gradually gaining market share in areas such as cloud computing and automotive. “ARM will drive all kinds of information revolutions, not just the smartphone revolution,” he said.

That’s in stark contrast to SoftBank’s shareholder meetings over the past few years. At previous shareholder meetings, Masayoshi Son spent a lot of time explaining the Vision Fund. This also reflects the major changes in the global technology market to a certain extent.

SoftBank posted its biggest ever loss in the fiscal year ended March, with a net loss of 1.7 trillion yen ($12.6 billion) for the year as the valuations of the tech stocks it invested in shrunk. The previous year saw a record net profit of 5 trillion yen.

Global IPOs have fallen by more than 50% this year as inflation concerns weigh on investment in tech stocks. Several SoftBank-backed companies, including Chinese drone maker Jifei Technology and Israeli trading platform eToro, have either written down their assets or delayed plans to go public.

After SoftBank announced results last month, Son said he would slow down the pace of investment.

ARM, acquired by SoftBank for $31 billion in 2016, is now SoftBank’s best hope. SoftBank’s revenue rose 35% year-on-year in the fiscal year ended March, helped by growth in shipments of 5G smartphones and telecom equipment. Son is also working to clear IPO hurdles, and said in May that was his main concern in the near term. ARM’s joint venture in China recently resolved a key management issue that had plagued it for two years.

SoftBank has high hopes for a smooth ARM IPO, taking out an $8 billion loan by pledging ARM shares.

Sun Zhengyi said that in order to control market risks, SoftBank will control the ratio of net debt to net asset value below 25%, and the cash on hand is enough to pay for bonds due in two years. “Because of the uncertainty in the market right now,” he said, “our cash position is much higher than usual.”

Tesla’s U.S. models have significantly raised prices, with a maximum increase of about 40,000 yuan

According to Electrek, Tesla has significantly raised the price of its full line of electric vehicles in the United States, some models have increased by as much as $6,000.

In 2021, Tesla’s models will increase in price almost every month. Tesla slowed the frequency of its electric vehicle price increases in early 2022. The last major price increase was in March 2022, followed by a long-term increase in April. There was a small price hike for battery-powered models, but now Tesla is starting to increase prices significantly again.

Today, Tesla updated the online configurator on the US official website, once again raising the price of its entire range of models. Among them, the Tesla Model 3 is the one with the smallest price increase among all the cars. Only the Model 3 long-range version has increased in price, from $54,490 to $57,990, a price increase of $3,500.

The Tesla Model Y has seen an even bigger price hike, with both versions going up, with the long-range version from $62,990 to $65,990 and the performance version from $67,990 to $69,990. Tesla also now sells the Model Y Standard Range, a new version made in Texas, but Tesla hasn’t sold it through its online configurator and is currently only buy ios reviews available to local Model Y buyers in Texas.

The Tesla Model S also got a big price hike today, following a massive $5,000 price hike a few months ago. The Model S Dual Motor All-Wheel Drive Long Range Edition is priced from $99,990 to $104,990 after today’s price increase. The price of the Plaid version remains the same at $135,990.

Like the Model S, the Model X saw a big price hike earlier this year, and now it’s raising prices again. The price of the Model X Dual Motor All-Wheel Drive Long Range Edition has risen by as much as $6,000 from $114,990 to $120,990. Like the Model S, the Model X Plaid’s price remains unchanged for the time being at $138,990.

As usual, Tesla did not disclose the reason behind these price increases, but speculation is because of increased raw material prices and logistics costs.

In addition, IT Home has learned that Tesla has a large backlog of orders, and new orders for several models will not be delivered 6 to 12 months from now. So Tesla has to try and forecast cost increases before and after producing these vehicles 6 to 12 months from now, or maybe Tesla just wants to improve its gross margin.

IT House found that the current price of Tesla’s official website in China has not been adjusted. It is worth mentioning that some netizens recently broke the news that Tesla will reduce the terminal price of entry-level models, and the rear-wheel drive version of the domestic Model 3 with a range of 556 kilometers will be reduced from the current price of 279,900 yuan to 219,900 yuan. In response, Tesla China responded, “(The rumor is) false news.”