< Back Competition catches up with Tesla, global sales drop 13% 4 Apr 2025 Rising competition in the EV market, an ageing lineup, and a backlash against Musk’s deepening political engagements are touted as the reasons. Tesla seems to be losing the race to fierce competition from established brands and emerging electric vehicle (EV) makers like BYD. BYD surpassed Tesla’s sales in Europe in 2024 by introducing ultra-fast charging and more affordable EV models. BYD sold 4.3 million compared to Tesla’s 1.79 million vehicles in 2024. Tesla also faced a dent in its reputation in Europe after Musk’s open support for controversial political figures, including Germany’s Alternative for Germany (AfD). A lack of any significant upgrades in its Model 3 and Model Y gave consumers another reason not to buy Tesla. As per the European Automobile Manufacturers Association (ACEA), Tesla’s new registrations declined by 49% to just over 19,000 units, and deliveries worldwide fell to 336,681 units between January and February 2025, compared to 387,000 in the same period in 2024. Even steep discounts and zero-interest financing had little effect in luring customers. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back India to fund Maldives’ largest water and sanitation project in 28 islands 13 Aug 2024 The External Affairs Minister S Jaishankar inaugurated the water and sanitation project worth ₹923 crore and introduced UPI there. S Jaishankar signed many Memorandums of Understanding (MoUs) and virtually inaugurated six High Impact Community Development Projects (HICDPs) in the areas of mental health, speech therapy, special education, and street lighting. The MoUs focused on capacity building for 1,000 more civil servants in India and launching the Unified Payments Interface (UPI) in the Maldives. With Maldives President Dr Mohamed Muizzu and Foreign Minister Fathulla Jameel, S Jaishankar inaugurated the water project in 28 islands backed by India’s Line of Credit. India’s relations with Maldives strained after the Muizzu government came in September 2023, which was inclined towards strengthening their relations with China over India. Derogatory remarks against Narendra Modi, pushing withdrawal of Indian military personnel from Maldives, and a social media war impacted the relations further. In the July 2024 budget, India reduced the grants to Maldives to ₹400 crore, which is ₹200 crore less than announced in February. Previous Next

< Back China’s Single’s Day shopping festival losing its appeal 12 Nov 2024 Alibaba started the popular shopping event on November 11th, 2009. Chinese annual shopping event called Single’s Day or Double 11 was started by the c-commerce giant Alibaba and adopted by other websites like Pinduoduo and JD.com. It began as a one-day event but soon became a festival, as Chinese shopping platforms began the promotions weeks ahead to lure in shoppers. The pandemic, coupled with China’s sluggish domestic economy, a real estate crisis, and deflationary pressures, discouraged consumers from spending lavishly like before. This slowing trend pushed the e-commerce portals to offer promotions to markets abroad with global free shipping, thus helping local merchants to sell worldwide. Customers believe discounts aren’t as significant, and prices are inflated before merchants offer discounts. Moreover, the government’s latest financial stimuli have failed to boost consumer confidence. The gross merchandising volume sales across major e-commerce portals grew by only 2% compared with double-digited growth pre-pandemic, Syntun, the data provider, reported. Previous Next

< Back Despite tensions, Canada’s investments in India going strong 17 Oct 2024 Canadian funds Caisse de Deport et Placement du Québec (CDPQ) and British Columbia Investment Management sustained their holdings in India in the past year. Despite the geopolitical row between the two nations, Canada invested $4 billion in India between April 2000 and June 2024. Canada’s exports to India increased by 1.6% between October 2023 and August 2024. In the past five years, around one-fourth of Canada’s pension fund investments directed to Asia were invested in India, a considerable increase from 10% investments done between 2003-18. Canada focused on India while trying to divert its focus from China. As an emerging global superpower, India holds access to several economic clubs that interest Canada. Some Canadian funds, like the Canada Pension Plan Investment Board (CPPIB), have divested for various reasons besides geopolitics. Of the ₹45,000 crore listed equities held by CPPIB, it sold ₹8,500 crore in FY25. In June 2024, it held over a 1% stake in five listed companies in India, including Kotak Mahindra Bank, Delhivery, Nykaa, Indus Tower, Reliance Industries, Infosys, TCS, and Zomato. Previous Next

< Back US to remove restrictions on 3 Indian nuclear companies 16 Jan 2025 Inclusion in the Entity List restricts access to American nuclear technology. During his recent visit to New Delhi, the US National Security Advisor (NSA) Jake Sullivan announced on January 6th their decision to remove three Indian companies from the Entity List – Indira Gandhi Atomic Research Centre (IGCAR), Indian Rare Earths Limited (IREL), and the Bhabha Atomic Research Centre (BARC). Steps are being taken to lift the restrictions. This move will promote cooperation for essential minerals and a clean energy supply chain and reduce barriers to collaborative research and development between India and the US. It will enable the implementation of the Indo-US Civil Nuclear pact signed 16 years ago. However, it does not mean India will gain unrestricted access to American nuclear technology. Simultaneously, the Bureau of Industry and Security (BIS) under the US Department of Commerce added 11 Chinese companies to the Entity List. The US had restricted over 200 entities after India had conducted nuclear tests in 1998. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next

< Back Tessolve buys German Dream Chip as Hero plans to sell its 30% stake 8 Nov 2024 Tessolve is a Bengaluru-based semiconductor design company owned by Hero Electronix. Hero's semiconductor design venture, Tessolve, acquired German Dream Chip Technology for ₹400 crores in an all-cash deal. Dream Chip will continue to operate normally as a different brand. Tessolve will add four delivery sites across Germany and the Netherlands, including a specialised Advanced Driver Assistance Systems, to expand its European operations. A 20-year-old company, Tessolve offers end-to-end semiconductor design, testing, and production solutions to 80% of the world’s 20 biggest semiconductor firms. Hero Electronix acquired Tessolve in 2016 from Manickam. It expects to generate up to ₹1,260 crore with a 25-30% stake sale. On the other hand, American test and measurement equipment maker Viavi is planning to invest in semiconductors and data centres in India. Viavi is integrating AI and ML into its products before the 6th generation technology development and getting into silicon photonics and chip testing. It already runs multiple offices in Gurugram, Bengaluru, Mumbai, and Chennai. Previous Next

< Back Spicejet to launch seaplanes in 2025 13 Nov 2024 The carrier took a demo flight from Prakasam Barrage in Vijayawada, Andhra Pradesh, to Srisailam Dam, Andhra Pradesh temple town. After first operating its seaplane route four years ago, Spicejet is ready to launch official seaplane services across key routes next year once proper infrastructure becomes available. It is licensed to operate seaplane services on 20 routes, including Hyderabad, Shillong, Guwahati, and Lakshadweep. Spicejet launched India’s first scheduled seaplane service in October 2020, connecting Sabarmati Riverfront, Ahmedabad, with the Statue of Unit in Kevadia, Gujarat. The service was later halted during the pandemic. Spicejet has participated in seaplane trials, offering engineering, logistical, and technical support to De Havilland, the aviation manufacturer. Spicejet had started a charter seaplane in Gujarat for a brief period in 2022, which could not be sustained. It plans to relaunch the stint in 2025 to leverage seaplanes to overcome infrastructural limitations and boost regional connectivity. Avani Singh, daughter of Spicejet CMD Ajay Singh and the CEO of Spice Shuttle, will lead the project. Previous Next

< Back Luxury home sales spike by 37.8% in 2024 in metros 18 Nov 2024 Delhi-NCR and Mumbai emerged as the top markets where luxury home deals are getting closed in 15 days flat. Driven by Millennials and Gen Z, luxury home sales in metro cities experienced a significant rise between January and September 2024. Delhi-NCR, Mumbai, and Hyderabad emerged as the winners, with 90% of the total luxury residential property sales in the top seven metro cities. As per a CBRE report, the total number of luxury homes sold between January and September 2024 was around 12,625, against 9,160 units sold in the same period last year. Delhi-NCR topped the charts with sales of around 5,855 units, an increase of 72% year-on-year, followed by Mumbai with 3,280 unit sales and 18% growth. 33% of buyers purchase ultra-luxury homes, and 54% of home deals are closed by millennials. The trend is also driven by a 12% rise in the number of affluent Indians (earning over $10,000 annually, approximately ₹8.4 lakhs) from 2019-2023. There are expected to be 100 million affluent Indians by 2027. Previous Next

< Back Netflix to acquire Warner Bros. for $82.7 billion 11 Dec 2025 In the early 2010s, HBO dismissed Netflix’s potential, declined a partnership, and resisted licensing content to Netflix. Netflix and Warner Bros. Discovery, Inc. (WBD) entered a definitive agreement, which allows Netflix to acquire Warner Bros. and its studios, HBO, HBO Max, New Line Cinema, and the debt. The enterprise value is $82.7 billion, of which equity is $72 billion. The transaction will close after WBD Global Networks Division separates from Discovery Global to form a publicly traded company by Q3 2026. Paramount Studios pursued WBD for months. After the Netflix deal, Paramount triggered a hostile takeover bid. It wants the entire WBD portfolio, including pay-TV networks, for $108.4 billion. HBO’s parent company, Time Warner, merged with AOL in 2001 and was sold to AT&T in 2016, among the worst business deals. HBO joined Warner in 2022. In the late 1990s, Amazon offered to buy Netflix for $16 million, but Netflix declined. In 2000, Netflix offered to sell itself to Blockbuster for $50 million, which Blockbuster laughed off. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes mystery. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back India rejects US investigations into trade practices, policies 16 Apr 2026 In March, the US began investigating trade practices of 16 economies, including India, China, Japan, the EU, and forced labour related reviews across 60 economies. India has firmly rejected the United States’ Section 301 investigations and called for their termination. In its submission to the US Trade Representative (USTR), India argued that the probe is based on broad macroeconomic indicators rather than any specific act, policy, or practice that could be deemed “unreasonable or discriminatory” under the Trade Act of 1974. India has also challenged a second Section 301 investigation related to alleged inaction on forced labour, again asserting that the probe does not meet legal requirements for initiation. Section 301 of the US Trade Act of 1974, one of Washington’s most powerful trade‑enforcement tools, allows the US Trade Representative (USTR) to investigate whether another country is engaging in: Unfair trade practices Discriminatory policies Actions that burden or restrict US commerce If the USTR concludes that such practices exist, the US can impose unilateral trade measures, including tariffs other restrictions, without waiting for WTO approval. Check out my new book, THE FLAMES TURN WHITE – THE BLACK FLAMES SERIES BOOK II. A gripping, high-stakes mystery. Previous Next

< Back Adani and Uber to integrate to offer EV taxis 1 Mar 2024 Adani Group intends to offer its electric vehicles as cabs on the Uber app. Uber, in turn, will integrate with the travel superapp Adani One. Discussions are ongoing between the two conglomerates to offer Adani’s electric vehicles on the Uber app. In the second phase, Uber will integrate with the superapp Adani One. Adani Group will purchase EVs, brand them, and enlist them in Uber’s network across cities with Adani Airports, like Mumbai, Jaipur, Lucknow, and Ahmedabad. Adani Group’s existing partnership with Uber provides dedicated pick-up zones at Adani Airports for the ride hailing app. The travel superapp Adani One currently offers flight bookings, holiday packages, and airport services. Uber has been trying to include more EVs in its fleet and eventually transform into a zero-emission mobility platform by 2040. It launched its EV service, Uber Green, in Delhi last month. In February 2023, Uber signed a deal with Tata Motors to acquire 25,000 EVs. It also plans to integrate as an anchor app with the superapp Tata Neu to offer cab hailing services. Previous Next

< Back Maharashtra CM inaugurates Nifty WAVES Index 2 May 2025 Launched by the National Stock Exchange (NSE), the WAVES Index will track the performance of the creative economy. The World Audio Visual and Entertainment Summit (WAVES) Summit 2025 aimed at establishing India as the global epicentre for the creative streams. The new WAVES Index launched during the Summit includes 43 listed companies from the creative sector, including Zee Media, Hathway Cable, PVR Inox, Saregama, Network18, and TV Today. It has been set with a base value of 1000 beginning from April 1st, 2005. The new index will organise performance tracking of India’s creative industries. India’s creator economy employs 8% of the workforce and contributes $30 billion to the GDP. Maharashtra CM Devendra Fadnavis announced MoUs worth ₹8,000 crore for the sector development aimed at positioning Maharashtra as a global hub in the storytelling domain. Godrej is developing a ₹2,000 crore studio in Panvel to attract global post-production work. The government also established the Indian Institute of Creative Technology in Mumbai to train professionals in creative fields. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next