Nio on Wednesday launched the ES7 sports utility vehicle as competition with Tesla intensifies in China.
The ES7 with the 485-kilometer range starts from 468,000 Chinese yuan ($69,693) before subsidies. The longest range version starts at 526,000 yuan before subsidies. Nio shares were up more than 4% on Wednesday.
It means that Tesla has lost almost $600 million in value through its Bitcoin investment. Tesla CEO Elon Musk has also personally invested in Bitcoin and he has previously used the “diamond hands” meme, which generally indicates that he plans on holding the investment. Musk also said that he believes Tesla will resume taking Bitcoin payment as he sees improvements in the energy mix of Bitcoin mining.
Canada Post laid out its key commitments for the Corporation to reduce its environmental footprint and reach net-zero emissions by 2050. Canada Post has earmarked $1 billion to cut emissions and transform its fleet. With nearly 14,000 vehicles and Canada’s largest retail network of close to 6,000 post offices, Canada Post acknowledges its footprint is significant. The Corporation will transform its fleet to non-emitting transportation, with commitments to reach a 50 per cent electric fleet by 2030 and 100 per cent by 2040.
Even though the Nothing Phone 1's launch is still about a month away, the company has already begun showing what the device will look like to help generate hype. From afar, the device appears to be a blend of the iPhone X's back (with its pill-shaped dual-camera island) and the iPhone 12's flat edges. However, the back cover here is transparent, revealing a big wireless charging coil, several screws (something you don't really see on phones these days) and a mysterious pattern teased earlier by founder Carl Pei.
Major League soccer and AppleTV announced a deal that will allow every game to be streamed on Apple TV for a decade. The deal is valued at $2 billion, with season ticket holders and some MLS matches available to subscribers for free access. The partnership will also include original programming.
Bitcoin steadied on Tuesday after earlier hitting a new 18-month low, as major crypto lender Celsius Network's freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class. Bitcoin clawed its way to positive territory after much as 7.3% overnight to $20,816, its lowest since Dec. 2020. It was last hovering around $22,470. The world's largest cryptocurrency fell 15% on Monday, its sharpest one-day drop since March 2020. It has shed about half its value this year and over 20% since Friday alone. Since its record high of $69,000 in November, it has slumped nearly 70%.
Netflix is turning its popular series Squid Game into a real-world game show. The streaming company announced today that it will be turning the popular series into a game show called Squid Game: The Challenge. The show will pit 456 players from across the globe against one another as they fight for a $4.56 million prize.
Rivian's R1S SUV delivery window has been pushed back several months. The electric vehicle maker blamed supply chain issues for the latest delay. Rivian has struggled to scale up production amid a global parts shortage. The company currently operates service centers in only 14 states, so customers in other areas will likely have a longer wait.
Ford is recalling nearly 50,000 of its electric Mustang Mach-E crossovers. The recall is due to a battery safety issue that could cause the vehicle to lose power unexpectedly. The automaker is issuing a software update to fix the problem. In addition to the recall, Ford has issued a stop-sale on the electric Mustang.
Adobe is testing a free, web-only version of its photo-editing tool Photoshop. The company is currently testing the tool with users in Canada. It plans to eventually make the tool available to a wider audience. The web version will have more advanced editing tools that can only be unlocked with a subscription.
Jeff Bezos, Elon Musk, and Mark Zuckerberg's net worths have fallen a combined $200 billion this year. Musk is now worth $197 billion after his net worth hit a high of $340 billion in November.
The declines come amid fears of a recession and sharp hits to tech stocks.
Microsoft will retire Internet Explorer on Wednesday. The company first debuted the browser 27 years ago. Users will be directed to the company's more recent browser, Microsoft Edge. Edge was introduced in 2015 and has gradually phased out Internet Explorer since then. The browser will be retired for certain versions of Windows 10 in June 2022.