TNB Tech Minute: Tesla Readies a Cheaper SUV in China
WSJ Tech News Briefing
Deep Dive
Shownotes Transcript
At KPMG, we make the difference by creating value, like developing strategic insights that help drive M&A success or embedding AI solutions into your business to sustain competitive advantage. KPMG, make the difference. Learn more at www.kpmg.us slash insights. Here's your TNB Tech Minute for Friday, March 14th. I'm Shara Tipkin for The Wall Street Journal. Tesla is developing a cheaper SUV for China.
The electric vehicle maker hopes the new Model Y will help it regain ground it has lost to lower-cost Chinese rivals. Workers at Tesla's Shanghai factory are removing some features and simplifying others. The aim is to reduce the Model Y's production cost by 20% to 30%. That's according to people familiar with the matter. The current Model Y starts at $36,400 in China.
The people said Tesla will first sell the budget SUV in China before bringing versions to the U.S. and Europe. Tesla didn't respond to a request for comment. Next up, Foxconn expects strong revenue growth this year. The Taiwanese company says it expects sales to rise in 2025 because of its cloud and networking business. Foxconn is best known for assembling iPhones, but it also builds artificial intelligence servers for tech giants like Amazon and NVIDIA.
About a quarter of Foxconn's fourth quarter revenue came from that business. Despite the strong forecast, Foxconn's most recent quarterly profit fell short of analyst estimates. And streaming services are giving YouTube creators a taste of Hollywood. Amazon Netflix and NBCUniversal's Peacock are courting web creators for new series or spinoffs.
The process started over a year ago, but has accelerated after the success of YouTuber MrBeast's Beast Games. That series premiered on Amazon Prime Video in December and made Amazon a profit of at least $100 million. That's according to people familiar with the matter.
Entertainment companies see YouTube creators as a way to attract and keep younger viewers. For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast. ADP imagines a world of work where smart machines become too smart. Copier, I need 15 copies of this. Printing. By the way, irregardless, not a word, Janet. Yeah, I know.
Page six should be regardless of or irrespective of. Just print them, please. If it were a word, Janet, it would mean without irregard, which is... Copier! Switch to silent mode. Let's put a pin in it. Anything can change the world of work. From HR to payroll, ADP helps businesses take on the next anything.