Yuan

Xpeng To Invest 3.5 Billion Yuan in AI Technology: CEO Warns of ‘Bloodbath’ in Electric Vehicle Space

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SHANGHAI, China – Electric vehicle maker Xpeng announced plans to expand its workforce by 4,000 people and invest in artificial intelligence technology in the midst of intense competition within the EV industry, according to a letter from the company’s CEO, He Xiaopeng. The company is set to invest 3.5 billion Chinese yuan ($486.2 million) in the research and development of AI technology, focusing on “intelligent driving.” Xpeng also intends to launch approximately 30 new or …

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Indian Rupee, Chinese Yuan and Korean Won Stand to Benefit from Fed Interest Rate Decisions – Experts Weigh In

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BANGKOK, Thailand – The partial closure of the federal government has shifted the likelihood of reducing interest rates by summer 2024. Investors appear to be hopeful, particularly as it applies to the potential benefit for other currencies such as the Chinese yuan, the Korean won, and the Indian rupee. The Chinese yuan, in particular, is expected to avoid further depreciation, as Chinese officials are contemplating using fiscal stimulus and credit growth to remedy the country’s …

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