12h Briefing

#EV

EU's EV subsidy probe may cover Tesla and BMW

Tesla, BMW and other non-Chinese electric vehicle brands could possibly be part of the European Union's ongoing subsidy investigation into China, indicating a potentially far-reaching impact on the EV industry.

More: cnbc.com
#Evergrande

Evergrande rattled by new troubles, fuels property crisis fears

China Evergrande, once a testament to China's success, is facing severe challenges. The company halted critical debt-settlement work and saw a stock dump amid news that executives were under investigation, triggering broader fears of a property market crisis.

More: nytimes.com
#Binance

Binance exits Russia under allegations of Ukraine sanctions breach

Crypto exchange giant Binance is ceasing its business in Russia following accusations that it violated Ukraine sanctions. The company sold its Russia business to CommEX, which officially launched recently.

More: scmp.com
#VentureCapital

African VC firm Enza Capital closes $58M across funds

Enza Capital, an African venture capital firm that aims to digitize key industries in the continent, has successfully closed $58 million across two funds, signaling strong investment interest in African startups.

#Volkswagen

Volkswagen halted by IT outage

A major IT outage has led to a temporary halt in production at Volkswagen, Germany's leading automaker. The impact of the interruption on Volkswagen's production volume remains uncertain.

More: reuters.com
#SpaceX

SpaceX secures first Pentagon contract for Starshield

Elon Musk's SpaceX has received its first confirmed contract for Starshield, a military-specific version of the company's Starlink satellite network, from the Pentagon. The move represents a significant milestone for SpaceX's military ambitions.

More: cnbc.com
#AI

A surge in trust for AI-driven company vehicles

In recent research, 67% of business leaders stated they would trust AI technology to drive their company vehicles, indicating a growing acceptance of AI solutions in the transportation domain.

More: tech.co
#Lucid

Lucid opens Saudi Arabia's first auto production plant

Electric vehicle maker Lucid has opened Saudi Arabia's first-ever automobile production plant, marking a significant milestone for the automotive industry in Saudi Arabia.

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