BMW has timed its shift to electric cars well and its upcoming products will upend the perception the German car maker is behind on electrification, its top executive said.
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PayPal will announce later on Tuesday that it has started allowing US consumers to use their cryptocurrency holdings to pay at millions of its online merchants globally.
The US car safety agency said on Wednesday it will send a team to investigate a crash involving a Tesla suspected of being in Autopilot mode when it struck a parked Michigan State Police patrol car.
It’s certainly not at the same scale as a Tesla or a MicroStrategy, but some privately held South African firms have started converting a portion of their cash holdings into cryptocurrencies like bitcoin.
Volkswagen’s boss, Herbert Diess, is realistic about the threat posed by software-savvy and richly valued rivals such as Tesla, but he’s adamant that VW can prevail. On current form, he may be right.
Just like Samsung has an edge over Apple with its superior smartphone display, there is one area where VW may be ahead of Tesla: The German car maker has placed a big bet on next-generation lithium-ion batteries.
Tesla added “Technoking of Tesla” to billionaire CEO Elon Musk’s list of official titles on Monday in a formal regulatory filing that also named finance chief Zachary Kirkhorn “Master of Coin”.
While Volkswagen is one of the largest car producers, it’s now pitted against companies that have routinely disrupted industries, casting former leaders aside in the process.
Tesla surged nearly 20% on Tuesday, rebounding from a deep selloff with its largest daily gain in a year after data showed an increase in China sales and an analyst raised his rating on the stock.
Shares of Tesla closed lower for a fifth consecutive session on Monday, caught in a tech-led selloff that has wiped more than $277-billion off the company’s market value over the last month.