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With the Yuan's value apparently waning, U.S. electric vehicle manufacturer, Tesla Inc. is closely considering raising its prices in China starting September this year, according to analysts.
Details on the price change have yet to be made public. Tesla itself is still mum on the entire affair, still feeling the market movement and the Yuan's performance within the next few months.
At present, Tesla Inc. imports vehicles from the United States to China. However, when asked for a statement on the alleged increase in prices, Tesla declined from responding.
Being in the thick of a Trade War with the United States, China had "permitted" the Yuan to weaken past the 7-per-dollar level--a first in more than a decade in Chinese economy. Things heated further when Washington accused China as being a "currency manipulator" something that Beijing had vehemently condemned. Analysts presuppose that such a label will only aggravate the trading conditions between the 2 economic giants.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
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