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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Xpeng Announces Launch of Budget-Friendly EV Brand Amid Intense Competition in China

Xpeng Announces Launch of Budget-Friendly EV Brand Amid
The logo on an XPeng Inc. P7 performance electric vehicle is seen outside the New York Stock Exchang... The logo on an XPeng Inc. P7 performance electric vehicle is seen outside the New York Stock Exchange in New York, U.S., August 27, 2020. REUTERS/Mike Segar/File Photo
Xpeng Announces Launch of Budget-Friendly EV Brand Amid
The logo on an XPeng Inc. P7 performance electric vehicle is seen outside the New York Stock Exchang... The logo on an XPeng Inc. P7 performance electric vehicle is seen outside the New York Stock Exchange in New York, U.S., August 27, 2020. REUTERS/Mike Segar/File Photo

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Xpeng Announces Launch of Budget-Friendly EV Brand Amid Intense Competition in China

In the bustling metropolis of Bengaluru, India, formerly known as Bangalore, a severe water crisis is gripping the city’s 15 million residents. Once renowned for its cool weather and lush greenery, Bengaluru is now facing the harsh reality of water scarcity due to rapid, unplanned urban expansion. While traffic congestion is often cited as a major issue, civic activist Srinivas Alavilli argues that water scarcity is, in fact, the larger problem.

The city relies heavily on the Cauvery river, with 70% of its water supply originating from this source. However, a weak monsoon and over-extraction of groundwater have exacerbated the situation, leading to a daily shortfall of 200 million litres. Peripheral areas, particularly the 110 villages merged with the city in 2007, bear the brunt of the crisis. Residents, including those in apartment complexes, are forced to alter their routines, limiting water usage and enduring sweltering temperatures in what was once India’s coolest city.

Efforts to address the crisis include regulating tanker prices and levying fines for non-essential water usage. However, critics question the feasibility of enforcing such measures on every household. Additionally, the city’s population growth has outpaced projections made during the implementation of water projects, exacerbating the strain on resources.

Amid protests and political blame games, hopes are pinned on the completion of the fifth phase of the Cauvery water project, expected to ease pressure on the outskirts. However, experts caution that this may only provide temporary relief, with population growth likely to outstrip water supply by 2029.

Meanwhile, in the corporate world, energy giant Shell’s new CEO, Wael Sawan, received a hefty pay package of nearly £8 million in his first year, raising eyebrows among advocacy groups. The disclosure comes as Shell revises one of its carbon reduction targets, opting for a more modest goal amidst uncertainty in the energy transition.

Similarly, Reddit’s highly anticipated IPO garners significant attention, with the company’s valuation reaching $6.5 billion. Despite oversubscription, concerns linger over Reddit’s profitability, compounded by its historical losses and challenges in monetizing user engagement.

Meanwhile, in China, electric vehicle maker Xpeng unveils plans to launch a more affordable brand, reflecting intensified competition in the EV market. With prices set to undercut premium rivals, Xpeng aims to capture a broader consumer base, emphasizing intelligent driving capabilities tailored for young users.

In essence, these developments underscore pressing challenges in water management, corporate governance, and market dynamics, highlighting the need for sustainable solutions and equitable practices in a rapidly changing world.


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