Elon Musk Expresses Dissatisfaction Over IRS Norms For EV Credits, Largest iPhone Plant In China Resumes 100% Production, US Republican Back TikTok Sale To US Entity: Top Stories Today
Elon Musk Expresses Dissatisfaction Over IRS Norms For EV Credits, Largest iPhone Plant In China Resumes 100% Production, US Republican Back TikTok Sale To US Entity: Top Stories Today
Benzinga Elon Musk Says IRS Qualification Norms For EV Credits 'Messed Up' — Why He Finds It 'Bizarre' Ever since the IRS announced the qualifying cri...




231Vandana SinghJanuary three, 2023, 5:39 AM·four min examine

Benzinga

Elon Musk Says IRS Qualification Norms For EV Credits 'Messed Up' — Why He Finds It 'Bizarre'

Ever because the IRS brought the qualifying standards for availing of the electrical automobile tax credit score allowed below the "Inflation Reduction Act Of 2022," Tesla Inc (NASDAQ: TSLA) backers had expressed dissatisfaction about them.

A Tesla influencer mentioned that the electric car maker's Model Y SUV does no longer qualify as an SUV for the U.S. Tax credit score as its weight of 238 kilos is taken into consideration to be too mild.

Hyundai Misses 2022 Global Vehicle Sales Target

Hyundai Motor Company (OTC: HYMTF) stated its 2022 international profits totaled three.Ninety four million devices, a 1.4% growth 12 months-on-yr.

The sales disregarded the goal of four.Three million set with the resource of the employer at the beginning of 2022 because of inflation and supply disruptions.

Hyundai's December 2022 income rose four% Y/Y to 347,340 automobiles.

Rheinmetall Clinches Quarter Billion Euro Order For New Type Of Contactors

German hands manufacturer Rheinmetall (OTC: RNMBY) has gained a primary order worth over a quarter billion euros inside the electromobility location from a top rate German automaker.

Rheinmetall said it received the order amid stiff competition from Asia.

Rheinmetall could be equipping the cutting-edge 900-volt era of electrically powered motors with a new kind of contactor.

 

Toyota India Cautions Against User Data Hack

Toyota Motor Corp's (NYSE: TM) India employer notified the relevant Indian authorities of a statistics breach at Toyota Kirloskar Motor, a joint assment with Indian conglomerate Kirloskar Group.

The data hack at Toyota Motor's Indian commercial company might in all likelihood have exposed a few clients' private information.

 

Wall Street Journal

With GE Healthcare To Start Trading, Investors Turn Cautious On Power Business Spin-Off

As General Electric Company (NYSE: GE) enters 2023, it will cut up off its healthcare unit, completing a step within the breakup of the economic massive. It will face questions about dropping its electricity corporations for the relaxation of the year.

The as soon as worthwhile electricity-technology business organization produced losses and issues about its future as the sector actions towards greener power assets.

The onshore wind-turbine company has struggled with charge inflation and supply-chain troubles.

Southwest Airlines More Or Less Returns To Normal Schedule Amid Processing Refunds

Southwest Airlines Co (NYSE: LUV) restored to greater-everyday operations this weekend after a cascade of flight cancellations over the vacations.

The airline canceled a few flights on Saturday and Sunday—plenty much less than 1% of what it had scheduled each day.

While that typhoon created troubles for all airways, Southwest canceled some distance extra flights, with 16,000 flights among December 22 - December 29, and become a whole lot slower than others to get better.

 

Bloomberg

South Korea Fines Tesla $2.2M On Violating False Advertisement Law

South Korea's antitrust body plans to press Tesla Inc (NASDAQ: TSLA) with a 2.Eight billion received ($2.2 million) first rate for marketing law violation.

The car massive, the watchdog said, had falsely exaggerated and advertised the charging velocity and the usage of form of its electric vehicles.

Foxconn's Largest iPhone Plant In China Nears Resuming one hundred% Production

Apple Inc's important provider Hon Hai Precision Industry Co Ltd (OTC: HNHPF), Foxconn Technology Group, has delivered the largest iPhone plant to about 90% of expected peak capability.

The replace implied Apple's largest production associate had secured sufficient human beings however a Covid resurgence and present day group of workers uproar.

Foxconn doled out bonuses to draw new employees and convince the ones nonetheless there to live on.

 

Financial Times

US Republican Supports Idea Of TikTok Sale To US Entity To Dodge Ban

Republican congressman Mike Gallagher who added legislation to prohibit TikTok within the U.S. Welcomed the concept of selling the Chinese-owned video-sharing app to an American organisation.

Like the opioid, the platform modified into "addictive and unfavorable," he stated, and "ultimately goes again to the Chinese Communist birthday party," Gallagher said.

In December, the U.S. Senate voted unanimously to approve a bill barring federal personnel from using TikTok on authorities devices. In December, FBI director Chris Wray warned in competition to TikTok facilitating China's spying towards the U.S.

Shopify Could Emerge As Another Benefactor Of Apple's Privacy Concerns

Shopify Inc (NYSE: SHOP) aimed to fill a promising hole in marketing facts left by the usage of Apple Inc's (NASDAQ: AAPL) privacy crackdown.

Shopify furnished shops a new manner to purpose capability clients through outstanding ad structures.

The shift of recognition got here when the e-exchange industry slowdown pressured Shopify to a cutback on extraordinary additives of its agency.

 

CNBC

Elon Musk's SpaceX Raising $750M In Fresh Funding Round Led By a16z

Elon Musk-led SpaceX is reportedly elevating $750 million in a smooth investment spherical that might rate the enterprise at $137 billion.

The latest funding round is likely to be led by means of using Andreessen Horowitz.

In December, it changed into stated that SpaceX had priced its stocks at $77 apiece in an insider sale — giving it a valuation of $one hundred forty billion. In July, the commercial enterprise organization turned into worth $127 billion.

Photo: Fernandi Putra and Vitaliy Karimov on Shutterstock and Courtesy Photo on Wikimedia Commons

See extra from Benzinga

With GE Healthcare About To Start Trading, Investors Turn Cautious On Power Business Spin Off

Southwest Airlines More Or Less Returns To Normal Schedule Amid Processing Refunds

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