Mar 04 2021, 4:07 AM
March 03 2021, 3:30 AM
March 04 2021, 4:07 AM
(Bloomberg)
(Bloomberg)
Chinaâs defense and technology sectors may offer investor opportunities as the nationâs top political meeting starts this week, which could help inject fresh impetus into the countryâs equities.
Measures to help achieve President Xi Jinpingâs pledge of a carbon neutral economy by 2060 could be released at the meeting which begins Friday, according to brokerages including Guotai Junan Securities Co. Plans for an expanded defense budget are also likely to be published at the National Peopleâs Congress, Tianfeng Securities Co. analysts said.
Also topping analystsâ watch lists are policies to drive Chinaâs economic growth in the post-pandemic era. Approval of a five-year plan, which includes strategies to cut dependence on the West for crucial components like computer chips and make bets on emerging technologies such as hydrogen vehicles, is expected.
Volvo Cars to go electric-only and shift sales online from 2030 bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Volvo Cars set an ambitious goal to only sell battery cars by 2030, accelerating its plans after sales of electric vehicles surged.The Chinese-owned Swedish brand is rolling out a new lineup of electric cars and unveiled its second battery-only model, the C40 Recharge, on Tuesday. Going one step further than recent rivals’ decisions on EVs, Volvo’s electric vehicles will be available for sale only online, the company said in a statement.“Going electric will strengthen our brand, it means going into a growing segment,” Chief Executive Officer Hakan Samuelsson said in an interview. “Combustion cars are a shrinking segment.”Volvo’s move follows rivals including Jaguar Land Rover, General Motors Co. and Volkswagen AG announcing plans to electrify their offerings. In addition to tough emissions regulation, incredible valuations garnered by EV-only newcomers have been a wakeup call to accelerate the pace of change to survive indu
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Volvo ADR (OTC: VLVLY), owned by
Geely Automobile Holdings Ltd (OTC: GELYF), has announced plans to become a fully electric vehicle company by 2030.
What Happened: Volvo launched its first fully EV, the XC40 Recharge, in select global markets last year. Volvo’s second fully EV, the C40 Recharge, is being previewed for the media today for release later this year.
The company stated in a press release that half of its global sales will consist of EVs by 2025, with the rest hybrids, and all vehicles will be fully electric within nine years. The company also plans to only sell its EVs online.
On Monday Baidu Inc (NASDAQ: BIDU) announced it had signed a memorandum of understanding with China's Huaneng Power International Inc., one of the five .