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Stellantis

Stellantis, Samsung SDI set plan to build second US battery plant

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On Monday, the French-Italian carmaker Stellantis as well as the South Korean battery manufacturer Samsung SDI announced plans to establish a new joint-venture facility in the United States to produce batteries for electric vehicles. The project is assumed to start operations by 2027.

Both firms stated that the acquisition still has to be completed and that the location of the facility is still being considered. Additionally, later on, it will be revealed how much money is going to be invested in the location and exactly how many people will work there. The facility will initially be able to produce 34 gigawatt hours or GWh.

Stellantis
Image Source: europe.autonews.com

“This new facility will contribute to reaching our aggressive target to offer at least 25 new battery electric vehicles for the North American market by the end of the decade,” Stellantis CEO Carlos Tavares said in a statement.

“The second plant will accelerate our market penetration into the U.S.,” Samsung SDI CEO Yoon-ho Choi said in the statement.

Source: cnbc.com

By 2030, Stellantis, a company whose product lines comprise Citroen, Peugeot, Ram, Jeep, Alfa Romeo, and Opel, wants to sell only electric cars for passengers in Europe and a mix of fifty percent electric cars and light-duty trucks in the United States. It has stated that it needs to obtain 400 GWh of capacity for batteries in order to do that.

Stellantis stated in 2021 that it intended to invest a total of $35 billion worldwide until 2025 in electric vehicle manufacture and software. The second American battery factory, according to Stellantis, is going to be the sixth facility to help the business.

Also Read: Google raising price of YouTube Premium to $13.99 per month

Stellantis along with Samsung SDI announced in May 2022 that they will invest over two billion dollars to construct the initial joint battery production, which would be operational in Kokomo, Indiana, by the first half of 2025.

The initial capacity of such a facility will be 23 GWh, and it will gradually increase to 33 GWh.

At the time, the firms predicted that 1,400 employees would work at the Indiana factory, and investments might eventually reach 3.1 billion USD.

In addition, Stellantis is constructing a battery facility in Windsor, Ontario, Canada in partnership with LG Energy Solution of South Korea. 2,500 jobs will be created by the facility when it opens in 2024, and it will have a manufacturing capacity of more than 45 GWh per year.

To establish a collaborative battery facility in the United States with a 2026 opening and a 30 GWh yearly capacity, Samsung SDI along with General Motors announced in April that they will invest over three billion dollars. Additionally planned for Indiana, this facility will have 1,700 workers.

Worldcoin

What is Worldcoin? The Crypto Project Launched by OpenAI CEO

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In a rapidly evolving digital landscape, the need for secure and private identification is becoming increasingly crucial. Recognizing the potential challenges posed by advancing AI technologies, OpenAI CEO Sam Altman has taken the initiative to launch Worldcoin (WLD), a groundbreaking cryptocurrency project.

Worldcoin seeks to redefine the digital identification process by providing users with a unique World ID, verifying their real-human status while preserving their anonymity.

Worldcoin
Image Source: forbes.com

In this blog, we will explore the core features of Worldcoin and its potential implications on privacy, economic equality, and Universal Basic Income (UBI).

Worldcoin introduces the concept of World ID, a digital passport that serves as a verification of a user’s real-human status. As AI chatbots and generative AI technologies gain popularity, distinguishing between human users and AI bots on the internet becomes increasingly challenging. World ID aims to address this issue by offering a secure and anonymous way to prove one’s human identity online.

To obtain a World ID, users must undergo an in-person biometric screening at one of Worldcoin’s ‘Orbs.’ These Orbs, silver spheres about the size of a soccer ball, are strategically placed in various locations worldwide.

Also Read: Is Twitter changing its logo to an ‘X’?

During the screening process, users undergo a face and iris scan, ensuring the validity of their identity. Upon successful verification, users are rewarded with the WLD token – a tangible acknowledgment of their human status.

With the official launch of Worldcoin, the WLD token witnessed a surge in trading activity. The cryptocurrency’s value soared to an impressive $3.58 from its initial value of $1.70. Major exchanges like Binance quickly listed WLD, and in just a few hours, $145 million worth of WLD tokens were traded. However, as with any new crypto project, there were fluctuations, and the stock price later experienced a 29.4% decline.

While the project has already established 11 Orb locations in the US, including Los Angeles, New York, Miami, and San Francisco, the founders have ambitious plans for global expansion.

Worldcoin aims to set up 35 Orb sites in 20 countries to make World ID accessible to users worldwide. Remarkably, even during its beta phase, the project attracted over 2 million scanned users globally, reflecting the demand for a secure digital identification solution.

The Worldcoin project is not solely focused on digital identification; it also envisions broader societal implications. The founders view it as a stepping stone towards economic equality, democratic distribution of funds, and a potential path to Universal Basic Income (UBI).

By offering a reliable solution to differentiate humans from AI online, Worldcoin opens doors to increased economic opportunity for real individuals. With enhanced security and privacy measures, World ID could protect users from malicious cyber attacks on their identity, fostering a safer digital environment.

Furthermore, Worldcoin’s vision aligns with the concept of Universal Basic Income (UBI), which proposes providing a basic financial support system to all citizens. The project aims to explore how AI technology, through cryptocurrencies like WLD, could pave the way for a sustainable AI-funded UBI program in the future.

Twitter

Is Twitter changing its logo to an ‘X’?

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After recognizing that sponsors have been hesitant about coming back, Twitter Inc. owner Elon Musk sent an indication on Sunday that he would be doing more to steer the social networking firm on a fresh path with a makeover that would change its widely recognized blue bird logo by a letter X.

The adjustment was made as a result of Elon Musk’s latest revelation that marketing revenue is still only about half what it previously was; however, it was not immediately apparent on the site’s homepage on Sunday evening. And as a consequence of it and its high debt level, the platform’s financial performance has been negative.

Twitter
Image Source: techcrunch.com

The decision, according to Mike Proulx who is a research director at Forrester, would even more disturb Twitter’s setting down and once highly devoted user base.

 “On the one hand, you can make the argument he would be getting rid of an iconic brand. On the other hand, he is signaling it is a new day for what was once Twitter and that the company is heading in a different direction with a different user base.”

Source: reuters.com

In a message published on Sunday, billionaire businessman Musk expressed his desire to alter Twitter’s logo and asked his millions of supporters if they would support switching the website’s blue color palette to black.

Also Read: Samsung Galaxy Unpacked July 2023: Everything to expect

He shared a photo of a stylized X on a black backdrop with an astronaut motif.

“And soon we shall bid adieu to the Twitter brand and, gradually, all the birds,” he said.

Source: reuters.com

On a late Sunday afternoon, Twitter’s new CEO Linda Yaccarino in a tweet stated that it is an exceptionally difficult thing to get a second chance, whether it is life or business. Twitter left a lasting effect and revolutionized communication. The global town square will now go through an additional modification which was only possible because of X.

The firm has modified its name to X Corp according to Musk’s turbulent leadership since he purchased Twitter in October, symbolizing the billionaire’s desire to become a “super application,” similar to China’s WeChat.

Twitter’s iconic blue bird logo in April was momentarily substituted by “The Shiba Inu dog” from Dogecoin which contributed to a hike in the cryptocurrency’s value on the market.

When Musk revealed at the beginning of the month that Twitter will limit the number of tweets per day different accounts may view, the business received harsh criticism from consumers and marketing experts.

Netflix

Netflix falls as benefits from password-sharing limit to take time

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Netflix (NFLX.O) stock fell over eight percent on Thursday following the video streaming service giant sluggish revenue increase raised doubts about how quickly its new ventures will develop.

Thanks to repression on the sharing of passwords and the launch of a less expensive membership tier that is paired with commercials, the business attracted roughly 6 million customers in the second quarter, exceeding Wall Street’s estimates by nearly three times.

Netflix
Image Source: ctvnews.ca

Greg Peters, the company’s co-chief executive officer, warned that it would be several quarters before the results of those initiatives were seen because the quarterly sales growth and projection fell short of expectations.

On Thursday, Netflix stock had its second-worst day of the year, shedding roughly eighteen billion dollars in worth. The stock has risen approximately 48 percent to this point in 2023.

The industry was “realms away” from understanding if the highly-touted advertising tier could grow into the next money supplier according to Sophie Lund-Yates who is a Hargreaves Lansdown analyst. “Netflix must extract every bit of profit as possible through various avenues she also said.

Also Read: Google raising price of YouTube Premium to $13.99 per month

The business has been competing against Disney+ alongside Amazon Prime Video in a market that is beginning to show indications of overcrowding in the United States of America. The majority of the business’s new subscribers are from nations where it has lower costs.

“Some folks are using the result as an excuse to take some profits,” Pivotal Research Group analyst Jeffrey Wlodarczak said.

Source: reuters.com

Despite this, analysts continued to have a generally positive outlook for the company, with a minimum of 26 of them raising their price goals in anticipation of the new revenue-generating efforts accelerating the increase in revenue in the second quarter of 2023.

They stated that the current Hollywood dispute could not affect the streaming service’s slate until 2024, which might provide the firm an advantage over its rivals given that it has a strong schedule of programming.

The corporation also has a sizable global footprint, which gives it the opportunity to access a variety of non-American programming and protects it from the strike. The popularity of its non-English titles, including “Physical 100”, “The Glory,” and “Alice in Borderland,” has also increased.

“Every other streamer is now increasing prices, while Netflix is now extremely competitive with its ad tier. It is putting all the building blocks in place for future revenue growth,” PP Foresight analyst Paolo Pescatore said.

Source: reuters.com
YouTube Premium

Google raising price of YouTube Premium to $13.99 per month

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In the United States, the cost of YouTube Premium has gone up from 2 dollars to 13.99 dollars a month from what it previously was. The new fee was secretly adjusted on Google’s registration site for the application, which was initially discovered by 9to5Google.

A yearly membership to YouTube Premium will now cost 139.99 dollars instead of the previous 19.99 dollars, in addition to the monthly pricing hike.

YouTube Premium
Image Source: arstechnica.com

A rise in the cost is also being implemented for YouTube Music in the United States, which is an online music streaming app that can be accessed alone or as included in a Premium membership. According to recent pricing changes for Tidal, Amazon Music, and Apple Music, it is now priced at 10.99 dollars per month.

Spotify is a prominent exception because it continues to charge 9.99 dollars every month, but the chief executive officer Daniel Ek currently said the music streaming service is prepared to increase its prices which indicates a comparable hike would not be far off.

Google issued an official statement to The Verge confirming the price rise.

 “We’re updating the price for YouTube Premium and YouTube Music Premium subscribers in the US to continue delivering great service and features,” YouTube spokesperson Jessica Gibby said in a statement.

“We believe this new price reflects the value of YouTube Premium which allows subscribers to enjoy ad-free YouTube with background and offline play and uninterrupted access to over 100M songs with the YouTube Music app.”

Source: theverge.com

Gibby reaffirmed that most current customers of Premium, as well as YouTube Music Premium, would experience pricing increases starting with the following payment cycle and added that they may anticipate receiving an email confirming the price increase.

Also Read: Coinbase CEO Brian Armstrong Set to Meet With House Democrats

The price rise for single users comes after news of a comparable pricing hike for family plan customers to YouTube Premium during October.

Additionally subject to the price rise are existing 9.99 dollars YouTube Red members. When Google last increased the cost of a without ads YouTube subscription as part of the rebranding from “YouTube Red” to “YouTube Premium” in 2018, it still permitted previous YouTube Red users to maintain their previous monthly rate. Until the price rise takes effect, these members are getting three more months of service at their present cost.

It doesn’t look like there are any sudden plans to raise the cost by the same amount in other countries, but Google isn’t canceling the possibility.

 “We re-evaluate our pricing on an ongoing basis as conditions change in countries around the world,” YouTube’s Gibby said in a statement. “Any future price increases will be communicated first and foremost directly to existing members, providing a minimum of 30 days before any price increases take effect.

Source: theverge.com
Galaxy Unpacked

Samsung Galaxy Unpacked July 2023: Everything to expect

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Seoul, South Korea – Samsung is gearing up for an early summer treat as it prepares to host its highly anticipated Galaxy Unpacked event on July 26th.

This year’s event promises to be special beyond just the timing, with the company teasing the unveiling of new smartphones, smartwatches, and tablets. Excitement is building as fans worldwide eagerly await the reveal of Samsung’s latest innovations.

Image Source: mymobileindia.com

The event will kick off at 7 AM ET on July 26th, and for those who don’t want to miss a moment, Samsung will be live-streaming the Unpacked event on its website and YouTube channel.

Samsung hasn’t been shy about the stars of Unpacked, and it is widely expected that the company will unveil the Galaxy Z Flip 5 and Galaxy Z Fold 5. The spotlight this year, however, seems to be on the Galaxy Z Flip 5, with its clamshell design generating considerable buzz.

Leaked renders from MySmartPrice and OnLeaks have hinted at a much larger (3.4-inch) external display on the Galaxy Z Flip 5 compared to its predecessor. This expanded external display will allow users to perform various tasks even when the phone is closed. Google is reportedly optimizing key apps like Maps, Messages, and YouTube to make the most of the cover screen’s functionality.

The camera experience on both the Galaxy Z Flip 5 and Galaxy Z Fold 5 is expected to be impressive. The Galaxy Z Flip 5 is rumored to sport a 12-megapixel main and ultra-wide camera, while the Galaxy Z Fold 5 may come equipped with a more advanced setup, including a 50MP primary, 12MP ultra-wide, and 10MP telephoto shooter. Upgraded sensors could further enhance their performance, especially in low-light and challenging situations.

Also Read: Salesforce hires an activist lawyer from Wachtell, Lipton as legal chief

Samsung’s smartwatches have been gaining popularity, and it seems the Galaxy Watch 6 will be the star of the smartwatch lineup at Unpacked. Notably, Samsung has hinted at the return of the physical rotating bezel, which will allow users to scroll through the interface more satisfactorily than the touch-sensitive edges of current models.

It’s been over a year since the release of the Galaxy Tab S8 series, and fans are eager for a refresh. The Galaxy Tab S9 lineup is rumored to carry forward the sleek design of its predecessor but with functional improvements. The standard Galaxy Tab S9 is expected to switch from an LCD to an AMOLED screen, providing users with enhanced picture quality.

Samsung is known for its surprises at Unpacked events, and this year might be no different. Earlier, the company revealed its collaboration with Google and Qualcomm to develop mixed-reality wearable devices. While there haven’t been any official announcements, fans are eagerly waiting to see if Samsung sheds some light on this exciting project during the event.

Rumors have been circulating about a Galaxy Tab S8 FE, which would bridge the gap between Samsung’s budget A-series tablets and the high-end S9 models. Although details are scarce, the S8 FE is rumored to include an LCD with Wacom digitizer support for pen input.