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The Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Porsche on Tuesday warned that profitability will decline this year as it launches new models amid tough economic conditions, but hiked its dividend on the back of a rise in 2023 operating profit. Porsche's sales revenue rose 7.7% in 2023 to 40.53 billion euros ($44.29 billion), the company announced, while operating profit jumped 7.6% to 7.28 billion euros. "Porsche proved in 2023 that we are resilient, highly profitable and financially robust even in volatile times. Sales are expected to come in between 40 billion and 42 billion euros in full-year 2024.
Persons: Oliver Blume, Lutz Meschke Organizations: Porsche, Volkswagen Locations: Munich, Germany
Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date. Xiaomi revealed its SU7 electric car in China in late December but has yet to announce a specific price. Building on its tech capabilities as a telecommunications and smartphone company, Huawei has swiftly become a player in China's electric car market. Apple has yet to formally enter the electric car market despite reports it has been working on one. But the system is due for rollout in the coming months to appliances and the forthcoming car, Lu said.
Persons: Xiaomi, Evelyn Cheng, it's, Weibing Lu, Lu, That's, Lu Xiaomi Organizations: CNBC, Mobile, Apple, Samsung, Porsche –, Huawei, Baic Group, Xiaomi Locations: Evelyn Cheng BEIJING, China, Barcelona, Beijing, Xiaomi, Canalys
Ukraine has a new weapon in its fight against Russia – Cold War-era German battle tanks. According to The New York Times, Germany sent 10 of the obsolete Leopard 1A5 tanks to Ukraine last month. According to The New York Times, Germany sent 10 decommissioned Leopard 1A5 tanks to Ukraine last month. AdvertisementAdvertisementMarlow said the Leopard 1A5 is also easier to master, maintain, and fix than its modern descendant, the Leopard 2A6. A Ukrainian tank crew stands next the Leopard 1A5 main battle tank.
Persons: Getty, Sean Gallup, Andreas Marlow, Marlow, Christian Mölling Organizations: Russia, The New York Times, Service, Leopard, Porsche, Krauss, Maffei, Times, Leopard 1A5, Bundeswehr, German, Foreign Relations, Ukrainian, Brussels Times Locations: Ukraine, Germany, Wall, Silicon, West Germany, Europe, Ukrainian, Klietz
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