Electric Vehicles: batteries discharged
The end of internal combustion engines is scheduled for 2035 in the EU and Switzerland, yet electric cars sales are not taking off mainly due to their steep prices as well as drivers’ apprehensions surrounding the sparse recharging infrastructure. The mounting skepticism toward electric vehicles has cost Hertz CEO Stephen Scherr his position, last week, as he had heavily invested in electric vehicles only to reverse course. Apple has also recently halted its electric vehicle project after sinking USD 1 bn into it. For those who take the step, the preference goes to affordable Chinese models. China’s BYD has already overtaken Tesla becoming the world's largest EV manufacturer. In the face of this Chinese wave, western manufacturers are struggling to keep pace, and Tesla’s profitability has been declining due to the massive price reductions it has been making. In light of this shifting landscape, a question arises: should Europe and Switzerland reevaluate their strategy and consider easing or postponing their ban on combustion engines cars?
One billion obese in the world according to a large study published today by British medical journal The Lancet
The study showed an acceleration of the epidemic in low-income countries. Even more worrying, in 30 years, the obesity rate among children and adolescents has quadrupled and doubled among adults. NovoNordisk and Eli Lilly the two main pharma companies in the weight loss race
Just like Japan last year, yesterday, the Korean authorities have officially launched a corporate reform plan named the “Corporate Value-Up Program” in order to address the “Korean discount” issue.
Companies trading below book value have been asked to improve shareholders returns, albeit on a voluntary basis. Stricter measures could follow. For the time being, the country is benefiting from the semiconductor recovery cycle. Source : Bloomberg
