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Copernicus Climate Change Service: Global temperatures continue to rise above 1.5°C, making this September the second warmest September on record.On October 12th, DBS Group CEO Shushan Chen stated that the market is reassessing the risks associated with investments in artificial intelligence (AI) infrastructure, which could lead to a more cautious AI financing environment. She said, "The market has sent a signal. This isnt a bad thing, because investors are now demanding higher returns and paying more attention to financing structures." Chen pointed out that the market is examining whether the large amounts of capital invested in the AI capital expenditure ecosystem can generate sufficient long-term returns to ultimately repay debt, bond, or equity investors. DBS believes that some weaker companies may face the risk of credit rating downgrades. However, Chen believes this risk repricing is "healthy" because the market wants to ensure that large-scale AI investments are sustainable and have long-term profitability. She stated, "The market is confirming whether these huge investments are truly sustainable." Chen revealed that DBS has participated in approximately $20 billion in AI-related transactions this year, mostly as the lead arranger for syndicated loans, but the bank itself only holds a small portion of the risk exposure.A subsidiary of Indonesias state-owned oil company, Petronas, signed a purchase agreement with Italys Eni to acquire interests in three oil and gas blocks.On Monday, October 12, the Hang Seng Index opened 223.58 points higher, or 0.92%, at 24,434.93; the Hang Seng Tech Index opened 43.23 points higher, or 1.03%, at 4,241.07; the H-share Index opened 81.45 points higher, or 1.0%, at 8,229.32; and the Red Chip Index opened 12.18 points higher, or 0.3%, at 4,061.13.Hang Seng Index futures opened 0.85% higher at 24,398 points, a premium of 187 points.

By 2023, Geely's Zeekr EV Brand Intends to Triple Sales And Expand in Europe

Charlie Brooks

Jan 06, 2023 11:37

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The CEO of Chinese electric vehicle manufacturer Zeekr, Andy An, told Reuters on Thursday that the company aims to triple sales to about 140,000 vehicles in 2023 and expand into Europe.


Zeekr, a brand created by the Chinese carmaker Geely, sold 72,000 automobiles in China in 2022. Its 001 model, priced at about 300,000 yuan ($43,600), competes on the increasingly competitive Chinese market with Tesla (NASDAQ:TSLA) Inc's Model Y crossover and other premium automobiles.


In response to rising competition from Chinese manufacturers like as Zeekr, Tesla has decreased pricing and output in China. In December, Tesla sales fell to their lowest point in the past five months.


This month, manufacture of the Zeekr 009 model will commence.


In an interview at the annual technology show CES 2023 in Las Vegas, An noted that Europe was a growth region for Zeekr. Later this year, Zeekr plans to begin selling vehicles equipped with Mobileye's driver assistance technologies.


Geely, the parent company of Zeekr, maintains a controlling ownership in Volvo Car AB, which serves as its European base.


Zeekr and Waymo, the robotaxi branch of Alphabet (NASDAQ:GOOGL), showed a ride service vehicle prototype at CES.


According to An, Zeekr intends to build vehicles for Waymo in China, but U.S. production is conceivable "depending on market conditions."


According to an official, Zeekr has no ambitions to enter the U.S. consumer market.


Last month, Zeekr filed for an initial public offering in the United States without disclosing the deal's size or timeline. Reuters had reported that Zeekr's IPO objective was to raise over $1 billion and be valued at over $10 billion.

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