Tesla slashes Model Y SUV price as pandemic weighs on auto sector

The Model Y now starts at $49,990, down nearly 6 percent from its previous price of $52,990, according to the carmaker’s website. (AFP file photo)
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Updated 12 July 2020

Tesla slashes Model Y SUV price as pandemic weighs on auto sector

  • Reduction follows price cuts in May on Tesla’s Model 3, Model X and Model S

Tesla cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the US electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic.
The reduction follows price cuts in May on Tesla’s Model 3, Model X and Model S.
The company headed by Elon Musk this month posted a smaller-than-expected fall in car deliveries in the second quarter, resilient results despite the pandemic that hit the global auto industry.
The Model Y now starts at $49,990, down nearly 6 percent from its previous price of $52,990, according to the carmaker’s website.
Tesla did not immediately respond to a Reuters request for comment.
The company started deliveries of the Model Y in March, promising a much-awaited crossover that will face competition from European carmakers like Volkswagen AG rolling out their own electric rivals.
In April, Tesla had said the Model Y was already profitable, marking the first time in the company’s 17-year history that one of its new vehicles turned a profit in its first quarter.

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Chinese artificial intelligence company files $1.4 billion lawsuit against Apple

Updated 03 August 2020

Chinese artificial intelligence company files $1.4 billion lawsuit against Apple

  • Xiao-i argued that Apple’s voice-recognition technology Siri infringes on a patent that it applied for in 2004

SHANGHAI: Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co., also known as Xiao-i, has filed a lawsuit against Apple, alleging it has infringed on its patents.
The company is calling for $1.43 billion in damages and demands that Apple cease “manufacturing, using, promising to sell, selling, and importing” products that infringe on the patent, it said in a social media post.
Xiao-i argued that Apple’s voice-recognition technology Siri infringes on a patent that it applied for in 2004 and was granted in 2009.
Apple did not respond to a request for comment. Reuters was not immediately available to find a copy of the court filing.
The lawsuit marks the continuation of a row that has been ongoing for nearly a decade.
Shanghai Zhizhen first sued Apple for patent infringement in 2012 regarding its voice recognition technology. In July, China’s Supreme People’s court ruled that the patent was valid.