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Portugal's Prime Minister and Socialist Party (PS) Secretary General Antonio Costa looks on after winning the general election in Lisbon, Portugal, January 31, 2022. REUTERS/Pedro Nunes/File Photo Acquire Licensing RightsLISBON, Nov 11 (Reuters) - Portugal's premier Antonio Costa, who resigned this week, told foreign investors on Saturday the country was open for business and wanted to remain attractive despite an ongoing corruption probe into "green" energy projects. Costa stepped down on Tuesday over an investigation into alleged illegalities in his government's handling of lithium and hydrogen projects, as well as a large-scale data centre. The data centre project, Start Campus, has been dubbed "one of the biggest foreign direct investments in Portugal in recent decades". The company said it was cooperating with authorities but that neither the company nor any of its staff were the targets of the investigation.

Persons: General Antonio Costa, Pedro Nunes, Antonio Costa, Costa, illegalities, Marcelo Rebelo de Sousa, Afonso Salema, Joao Galamba, Vitor Escaria, embarrasses, Catarina Demony, David Gregorio Our Organizations: Portugal's, Socialist Party, REUTERS, Rights, Savannah Resources, Authorities, Thomson Locations: Lisbon, Portugal, Rights LISBON, London, Savannah, Portuguese

☆ Portuguese Central Bank to Assess Governor's Conduct - Local Media
▼ + stars: | 2023-11-11 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LISBON (Reuters) - The Bank of Portugal's ethics committee will meet on Monday to evaluate the conduct of governor Mario Centeno, whose independence came into question after the departing prime minister proposed him as a potential replacement, local media said. Local media reported that Centeno had agreed to let his name go forward, raising concerns that his links to the PS remained strong and calling into question his independence if he remained central bank governor. Rebelo de Sousa rejected Costa's proposal and called the election instead. Centeno's quick move from the finance ministry to the central bank in July 2020, during Costa's second term, had previously raised eyebrows. A central bank spokesperson said it was up to the committee to comment on the matter.

Persons: Mario Centeno, Antonio Costa, illegalities, Marcelo Rebelo de Sousa, Costa, Rebelo de Sousa, Centeno, Costa's, Joaquim Miranda Sarmento, Negocios, Catarina Demony, Sergio Goncalves, Kevin Liffey Organizations: Bank, Socialist, European Central Bank policymaker, Local, Social Democrats, Eco, Jornal Locations: LISBON

Andre Azevedo Alves, political science professor at Lisbon's Catolica University and St Mary's University in London, said the corruption investigation was a "very strong blow" to any PS ambitions. Analysts agree the PSD is likely to come out on top, but doubt its ability to build enough support to form a stable government. "Assuming the likelihood that the PSD will not have (enough) votes to form a government without Chega... we may go from one political crisis to another," Alves said. Waiting for a bus in central Lisbon, Ana Bernardino, 23, vented her concerns about the political outlook. "It is a political crisis and in my opinion it's a bit frustrating that elections are being held again...I'm a bit afraid."

Persons: Marcelo Rebelo de Sousa, Antonio Costa, illegalities, Costa, Costa's, Intercampus, Andre Azevedo Alves, Andre Ventura, Luis Montenegro, Alves, Antonio Barroso, Ana Bernardino, Maria Ines Ferreira, Catarina Demony, Miguel Pereira, Patricia Rua, Andrei Khalip, Nick Macfie, Angus MacSwan Organizations: Socialist Party, Social Democrats, Lisbon's Catolica University, St Mary's University, PSD, Chega, Liberal Initiative, CDS, Thomson Locations: Belem, LISBON, Portugal, London, Lisbon, Europe

☆ Poll Shows Most Portuguese Want Snap Election, President Readies Decision
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LISBON (Reuters) - Nearly 70% of Portuguese voters want an early election following the abrupt resignation of the Socialist prime minister, a survey showed on Thursday, as President Marcelo Rebelo de Sousa was due to announce his decision on the matter later in the day. His office said he would address the nation after meeting his consultative body, the Council of State. PS President Carlos Cesar said on Wednesday that if the president decided to call an election, March would be the best timing. The budget includes lower income tax rates for the middle class, higher wages and social benefits. (Reporting by Catarina Demony, Patricia Rua, Sergio Goncalves, editing by Andrei Khalip and Alex Richardson)

Persons: Marcelo Rebelo de Sousa, Antonio Costa, illegalities, Costa, Correio, Rebelo de Sousa, Joao Duque, Carlos Cesar, Diogo Lacerda Machado, Catarina Demony, Patricia Rua, Sergio Goncalves, Andrei Khalip, Alex Richardson Organizations: Socialist, Prosecutors, Socialist Party, of State, Jornal de Negocios, Analysts, Lisbon School of Economics, Management Locations: LISBON, Lisbon

☆ Poll shows most Portuguese want snap election, president readies decision
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

His office said he would address the nation after meeting his consultative body, the Council of State. PS President Carlos Cesar said on Wednesday that if the president decided to call an election, March would be the best timing. The budget includes lower income tax rates for the middle class, higher wages and social benefits. Separately, those detained in the investigation, including Costa's close friend and consultant Diogo Lacerda Machado, were due to appear before a Lisbon court on Thursday. Reporting by Catarina Demony, Patricia Rua, Sergio Goncalves, editing by Andrei Khalip and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Antonio Costa, Pedro, Marcelo Rebelo de Sousa, illegalities, Costa, Correio, Rebelo de Sousa, Joao Duque, Carlos Cesar, Diogo Lacerda Machado, Catarina Demony, Patricia Rua, Sergio Goncalves, Andrei Khalip, Alex Richardson Organizations: REUTERS, Socialist, Prosecutors, Socialist Party, of State, Jornal de Negocios, Analysts, Lisbon School of Economics, Management, Thomson Locations: Lisbon, Portugal, LISBON

By law, an election needs to be held within 60 days of the publishing of the presidential decree dissolving parliament. "I hope that time, sooner rather than later, will allow us to clarify what happened," Rebelo de Sousa said. By calling the March election, Rebelo de Sousa also addressed the need of the PS to pick a new leader to run. Earlier, PS President Carlos Cesar said March would be the best timing, while other parties pointed to January or February. "It is urgent to reestablish trust and prestige in democratic institutions," the leader of the PSD, Luis Montenegro, said after the president announced the election.

Persons: Marcelo Rebelo de Sousa, Rebelo de Sousa, Antonio Costa, illegalities, Costa, Rebelo, Mario Centeno, Filipe Garcia, Mercados, Carlos Cesar, Andre Ventura, Luis Montenegro, Catarina Demony, Sergio Goncalves, Andrei Khalip, Marguerita Choy, Alistair Bell Organizations: Lawmakers, Socialist, Socialist Party, of State, Prosecutors, Bank of Portugal, Social Democrats, PSD, Thomson Locations: LISBON, Portugal, Portuguese, Lisbon, Belem, Europe, Western, Montenegro

Timing is everything," said political scientist Antonio Costa Pinto. By law, an election needs to be held within 60 days of the publishing of the presidential decree dissolving parliament. The PSD is still reeling from defeat in a January 2022 election that caused a leadership change. The 74-year-old former law lecturer and political commentator has used his constitutional power to disband parliament once before, in November 2021. Unlike now, Costa's government then had no parliamentary majority and had just had its budget rejected.

Persons: Marcelo Rebelo de Sousa, Antonio Costa, illegalities, Costa, Antonio Costa Pinto, Ines de Sousa Real, Rebelo de Sousa, Antonio Barroso, Luis Montenegro, Pedro Nuno Santos, Andre Ventura, Patricia Rua, Aislinn Laing, Nick Macfie Organizations: Socialist, Socialist Party, Nature, Social Democratic Party, TAP, Thomson Locations: LISBON, Portuguese, Montenegro

☆ VIEW Chevron to buy Hess Corp for $53 bln in all-stock deal
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +4 min

A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken Feb. 8, 2022. The transaction might also create a peculiar coexistence of the United States' two leading oil majors in Guyana... Hess is geared towards crude production, with oil accounting for 60% of its current output which fits in very nicely with Chevron's similarly oil-focused portfolio. On the deal itself, the Chevron-Hess merger is expected to have a significant impact on the shale oil industry with Chevron becoming the second-largest shale producer in the United States. The merger is also likely to lead to increased M&A and industry consolidation in the North America shale sector.

Persons: Dado Ruvic, bode, Hess, John Hess, PETER MCNALLY, VIKTOR KATONA, KPLER Hess, Chevron, ROBIN HELANDER, Seher Dareen, Ron Bousso, Dmitry Zhdannikov, Mark Potter Organizations: Chevron, REUTERS, Chevron Corp, Hess Corp, Exxon Mobil, ROYAL, Third, Natural Resources, Hess, Thomson, & $ Locations: Guyana, Chevron, North Dakota, United States, North America

☆ Exxon investors ready to embrace buying existing oil over new drilling
▼ + stars: | 2023-10-06 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +4 min

In the last four years energy investors have dumped stocks in oil companies that boost capital spending, favoring higher returns over spending on costly, long-term new projects. But Exxon shares last month hit a record high of $120, lifted by returns on its oil, gas and refining businesses. 2 Permian shale oil producer, for $60 billion, signals it is ready to pay up for production after missing its own output targets in the Permian. A deal would bring Exxon to about 1.33 million barrels of oil and gas per day, the largest in the oilfield. It has good reserves, growing production, spending in check and debt at healthy levels, he said.

Persons: Lucas Jackson, Exxon Mobil's, Bill Smead, Vince Lorusso, Lorusso, Shale Research Alexandre Ramos, Kathryn Mikells, Bass, Scott Hanold, Matthew Bernstein, Sabrina Valle, Anna Driver, Diane Craft Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Rights, Exxon, Natural Resources, Smead Capital Management, Clough Capital Partners, Management, Shale Research, XTO Energy, RBC Capital Markets, ExxonMobil, Rystad Energy, Thomson Locations: New York, Ukraine, U.S, Americas, Guyana

☆ What Wall St, policymakers have to say on potential Exxon-Pioneer deal
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. A deal would be Exxon's biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the oil major's position in the country's most lucrative oil patch. Following are the comments on the likely deal. BILL SMEAD, CHIEF INVESTMENT OFFICER OF SMEAD CAPITAL MANAGEMENT"I can't imagine any deal is going to go for less than $65 billion, considering Pioneer is currently trading around $50 billion . I mean there's no question the position of that magnitude or size would give them considerable leverage in negotiating or contracts with the service providers."

Persons: Lucas Jackson, BILL SMEAD, PETER MCNALLY, Scott Sheffield, SHELDON WHITEHOUSE, BEN COOK, HENNESSY, NEAL DINGMANN, Arunima Kumar, Sourasis Bose, Sabrina Valle, Raphael Satter, Arun Koyyur Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Exxon Mobil, Natural Resources, Mobil, RBC, RHODE, Exxon, Thomson Locations: New York, United States, Bengaluru, Houston

☆ Exxon-Pioneer deal talks: What Wall St, policymakers have to say
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +4 min

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. It would be Exxon's biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the oil major's position in the country's most lucrative oil patch. MATTHEW BERNSTEIN, SENIOR SHALE ANALYST, RYSTAD ENERGY"If Exxon Mobil is crowned the undisputed king of the Permian in the coming days, the shale sector will fundamentally become a more mature consolidated business." "A deal the size of Exxon Mobil's potential acquisition of Pioneer, however, could usher in a new 'Shale 4.0' era ... BILL SMEAD, CHIEF INVESTMENT OFFICER OF SMEAD CAPITAL MANAGEMENT"I can't imagine any deal is going to go for less than $65 billion, considering Pioneer is currently trading around $50 billion .

Persons: Lucas Jackson, MATTHEW BERNSTEIN, MARK VIVIANO, Scott Sheffield, BILL SMEAD, PETER MCNALLY, SHELDON WHITEHOUSE, BEN COOK, HENNESSY, NEAL DINGMANN, Arunima Kumar, Sourasis Bose, Sabrina Valle, Raphael Satter, David French, Sriraj Kalluvila, Arun Koyyur Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Exxon Mobil, Natural Resources, Mobil, Exxon, RBC, RHODE, Thomson Locations: New York, United States, Bengaluru, Houston

[1/2] SMER-SSD party leader Robert Fico arrives to the party's headquarters after the country's early parliamentary elections, in Bratislava, Slovakia, October 1, 2023. Caputova, a liberal who has a tense relationship with Fico, a three-time former prime minister, will first make a 2 p.m. statement on the election outcome. Fico and his SMER-SSD party won nearly 23% of the vote on Saturday, ahead of liberal challenger Progresivne Slovensko (Progressive Slovakia, PS) with 18%. HLAS, led by Fico's former colleague and prime minister Peter Pellegrini, could also support a potential PS-led coalition if negotiations with SMER fail. Fico's pledge, however, may have limited practical impact as analysts say Slovakia has already provided much of what it could spare.

Persons: Robert Fico, Radovan Stoklasa, Fico, Zuzana Caputova, Progresivne Slovensko, Fico's, Peter Pellegrini, Reuters Graphics Fico, Viktor Orban, Pellegrini, Jason Hovet, Jan Lopatka, Andrew Heavens, Mark Heinrich Our Organizations: REUTERS, Ukraine Won, Russian Slovak National Party, SNS, SMER, Reuters Graphics, European Union, Russia's, Hungarian, Law and Justice, Brussels, NATO, Reuters Graphics Reuters, Reuters, Thomson Locations: Bratislava, Slovakia, Ukraine, Progressive Slovakia, SMER, Russian, Hungary, European, Russia, Europe, Slovak

☆ Pro-Russian ex-PM Fico wins Slovak election, needs allies for government
▼ + stars: | 2023-10-01 | by ( ) www.cnbc.com time to read: +2 min

Robert Fico, former Slovak prime minister and lead candidate of the SMER political party, arrives at SMER headquarters at the Slovak parliamentary elections on September 30, 2023 in Bratislava, Slovakia. Slovakia's leftist former Prime Minister Robert Fico beat his progressive rival in a parliamentary election after campaigning to end military aid to Ukraine, but he will need to win over allies to form the next government, nearly complete results showed on Sunday. With 98% of voting districts reporting in the Saturday election, Fico's SMER-SSD party led with 23.37% of the vote. Former Fico colleague and leftist HLAS leader Peter Pellegrini kept his options open on future coalitions. It would also signal a further shift in the region against political liberalism, which may be reinforced if conservative PiS wins an election in Poland later this month.

Persons: Robert Fico, Fico's, Peter Pellegrini, Fico, Robert Kalinak Organizations: Slovak, Progressive, NATO, Ukraine Locations: Slovak, Bratislava, Slovakia, Ukraine, Progressive Slovakia, Hungary, Poland, Brussels

☆ Slovak party PS says it will still try to form coalition after Fico win
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

BRATISLAVA, Oct 1 (Reuters) - Liberal party Progresivne Slovensko (Progressive Slovakia, PS), which won the second highest number of votes in a Slovak parliamentary election, still sees an option to form a ruling coalition, its leader Michal Simecka said on Sunday. Simecka, speaking after the Saturday election, said PS would do what it can to prevent vote winner SMER-SSD from forming a government. "SMER-SSD won the election, we of course respect that," Simecka told a news conference. And it would be even worse news if Robert Fico succeeds in forming a government,” he added. "We will do everything...so that Robert Fico does not rule in Slovakia."

Persons: Progresivne Slovensko, Michal Simecka, Robert Fico, Simecka, ”, SMER, HLAS, Jan Lopatka, Kirsten Donovan Organizations: Liberal, Thomson Locations: BRATISLAVA, Progressive Slovakia, Ukraine, Slovakia

According to preliminary results released by Slovakia’s Statistical Office at 6 a.m. local time, Robert Fico’s populist SMER party won 23.3% of the vote. While in opposition, Fico became a close ally of Hungary’s Prime Minister Victor Orban, especially when it came to criticism of the European Union. Fico previously served as Slovakia’s prime minister for more than a decade, first between 2006 and 2010 and then again from 2012 to 2018. Kuciak reported on corruption among the country’s elite, including people directly connected to Fico and his party SMER. In the Czech Republic, which used to form one country with Slovakia, 71% of people blame Russia for the war.

Persons: Robert Fico’s, Fico, upend, Peter Pellegrini, Hlas, ”, Pellegrini, Slovakia “, “, Vladimir Putin, Putin, Victor Orban, Orban, Jan Kuciak, Martina Kušnírová, Kuciak, Věra Jourová, GlobSec, – Organizations: CNN, Kremlin, NATO, Slovakia’s, SMER, Progressive, Ukrainian, Ukraine, European Union, Russia, Hungary’s, European, Justice, Kyiv Locations: Slovakia, Ukraine, Progressive Slovakia, Slovak, Kyiv, Brussels, Russia, Bratislava, Baltic, Czech Republic, States

☆ Slovak Party PS Says It Will Still Try to Form Coalition After Fico Win
▼ + stars: | 2023-10-01 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

BRATISLAVA (Reuters) - Liberal party Progresivne Slovensko (Progressive Slovakia, PS), which won the second highest number of votes in a Slovak parliamentary election, still sees an option to form a ruling coalition, its leader Michal Simecka said on Sunday. Simecka, speaking after the Saturday election, said PS would do what it can to prevent vote winner SMER-SSD from forming a government. "SMER-SSD won the election, we of course respect that," Simecka told a news conference. And it would be even worse news if Robert Fico succeeds in forming a government,” he added. "We will do everything...so that Robert Fico does not rule in Slovakia."

Persons: Progresivne Slovensko, Michal Simecka, Robert Fico, Simecka, ”, SMER, HLAS, Jan Lopatka, Kirsten Donovan Organizations: Liberal Locations: BRATISLAVA, Progressive Slovakia, Ukraine, Slovakia

☆ Slovakia's election could turn Ukraine's stanchest supporter into a Kremlin ally
▼ + stars: | 2023-09-30 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +5 min

The frontrunner, former Prime Minister Robert Fico, has made no secret of his affinity for the Kremlin during the election campaign. Fico’s left-wing populist SMER party has been leading for months, although opinion polls published earlier this week showed SMER neck-and-neck with the Progressive Slovakia (PS) party. “The approach to Russian war in Ukraine is a divisive line (in the election),” she said. It is also far from certain that the leader of the biggest party will become the prime minister. While in opposition, Fico has also become a close ally of Hungary’s Prime Minister Victor Orban, especially when it comes to criticism of the European Union.

Persons: Robert Fico, Slovakia’s, Zuzana Čaputová, Fico’s, Michal Šimečka, Věra Jourová, ”, Peter Pellegrini, Pellegrini, Fico, Ján Kuciak, Martina Kušnírová, Russia ”, OLaNO, Kyiv’s, “, Vladimir Putin, Putin, Victor Orban, Orban Organizations: CNN, European Union, Kremlin, NATO, Progressive, EU, Kyiv, West ., “, Coalition, Republika, Russia, ”, and Solidarity Party, Independent, Ukraine Fico, Hungary’s, Justice Locations: Ukraine, NATO, American, Progressive Slovakia, Slovakia, “ Slovakia, Russia, Russian, Brussels

☆ Slovaks choose between pro-Russian ex-PM Fico and pro-Western liberals
▼ + stars: | 2023-09-29 | by ( Jan Lopatka | ) www.reuters.com time to read: +3 min

BRATISLAVA, Sept 30 (Reuters) - Slovaks were voting on Saturday in a parliamentary election closely fought between former leftist prime minister Robert Fico, who has pledged to end military aid for neighbouring Ukraine, and pro-Western liberals. He has kept his options open but said this week his party was closer to Fico. Fico has ridden on dissatisfaction with a bickering centre-right coalition whose government collapsed last year, triggering this election a half-year early. Fico has pledged to end military supplies to Ukraine, and to strive for peace talks. But Fico was also a pragmatic leader in the past, which foreign diplomats and analysts say could tame his foreign policy turn.

Persons: Robert Fico, Fico, Fico's, Michal Simecka, Peter Pellegrini, Michal Vasecka, Viktor Orban, Jan Lopatka, David W, Cerny, Peter Graff Organizations: Ukraine, Democracy, European, Thomson Locations: BRATISLAVA, Ukraine, Slovakia, Hungary, European, Poland, Progressive Slovakia, Russia, Brussels, Prague, Bratislava

☆ Knife-edge Slovak election to determine stance on Ukraine
▼ + stars: | 2023-09-27 | by ( Jan Lopatka | ) www.reuters.com time to read: +5 min

Robert Fico, leader of the SMER-SSD party, Michal Simecka, leader of Progressive Slovakia party, and Peter Pellegrini, leader of HLAS party await for the televised debate to begin at TV TA3, prior to the Slovak early parliamentary election, in Bratislava, Slovakia, September 26, 2023. Fico's SMER-SSD party has a narrow lead over liberal Progressive Slovakia (PS), which has pledged to stay the course on foreign policy, in two out of four final opinion polls. Such an alliance may be reinforced if Poland's conservative PiS wins another term in October, although PiS has a hawkish view on Russia. The leading Slovak party is expected to get the first chance from liberal President Zuzana Caputova to form a cabinet. "He will stop the weapons (for Ukraine), that is what he gains support on."

Persons: Robert Fico, Michal Simecka, Peter Pellegrini, HLAS, Radovan Stoklasa, Fico's, Viktor Orban, PiS, Zuzana Caputova, Fico, Grigorij Meseznikov, Orban, embolden, Jan Lopatka, Christina Fincher Organizations: Progressive, REUTERS, EU, Reuters, NATO, Oxford, Thomson Locations: Progressive Slovakia, Bratislava, Slovakia, Ukraine, Russia, UKRAINE, Brussels, Hungary, Europe, Czech Republic, Poland, EU, Prague

Were he to follow through on his promise, it would represent a sea-change for Slovakia, until now a staunch ally of its eastern neighbour Ukraine in its war against Russia. Bratislava has supplied weapons and offered strong political support to Kyiv within the European Union and NATO. Western diplomats and officials in Kyiv also say a small country like Slovakia can only go so far in upending EU and NATO policy. Disinformation, meanwhile, has spread, undermining public support for Ukraine since Russia's full-scale invasion of 2022, said Katarina Klingova of think-tank Globsec. The hoax was debunked, but the reaction pointed to the influence that false information surrounding the Ukraine war has among Slovakia's 5.5 million population.

Persons: Robert Fico, Radovan Stoklasa, Robert Fico's, Fico, Eleonora Tanacova, Viktor Orban, Orban, Katarina Klingova, Klingova, Andrew Gray, Thomas Balmforth, Mike Collett, White, Gareth Jones Organizations: REUTERS, NATO, EU, European Union, Russia, Moscow, Hungarian, Progressive, Ukraine, Thomson Locations: Banovce nad Bebravou, Slovakia, Russian, Ukraine Brussels, Ukraine, Slovakian, Russia, Bratislava, Kyiv, Crimea, EU, Brussels, Moscow, Donbas, Luhansk, Western, Europe, Hungary, Progressive Slovakia

"Indonesia is not an easy market to do business on your own," said Kim, adding that, beyond government sales, VKTR was in talks with large domestic businesses to sell BYD EV buses. TAKING ON TESLAThai EV buyers contributed 24% of BYD's overseas sales in the second quarter, making it the Chinese automaker's largest foreign market, according to Counterpoint, whereas fewer than 1% of Tesla's sales are in Southeast Asia. BYD's Southeast Asia playbook and its embrace of dealerships contrasts with Tesla, whose direct-to-consumer approach is hard to replicate, since no other new EV brand has its buzz or the outsized media presence of its CEO Elon Musk. BYD and its partner Sime Darby Motors are experimenting with a new approach to draw young, tech-savvy consumers towards the Chinese brand in Singapore. The partnership has launched five "BYD by 1826" showrooms that double as white-tablecloth restaurants where dishes are named after BYD EV models.

Persons: Edgar Su, EVs, Tesla's, Soumen, BYD, Sime Darby, Indonesia's, Chee, Kiang Lim, Ayala, Antonio Zara, Rever, Alex Kim, Kim, VKTR, Tesla, Elon Musk, Darby, Jeffrey Gan, Devjyot Ghoshal, Stefanno Sulaiman, Jamie Freed Organizations: REUTERS, Rights, Counterpoint Research, Reuters, Commission, Ayala Corp, Thailand's, Urban Science, Brothers, Ayala Corp's, Motors, Thai EV, Asia playbook, Darby Motors, Sime, Sime Darby Motors, Thomson Locations: Singapore, Rights BANGKOK, JAKARTA, Southeast Asia, Thailand, Malaysia, Philippines, China, Shenzhen, Bangkok, Indonesia, Jakarta, Asia, Hong Kong, Macau

☆ Chinese EV major BYD's partnerships in Southeast Asia
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Nick Carey/File Photo Acquire Licensing RightsSept 19 (Reuters) - Chinese electric vehicle frontrunner BYD (002594.SZ) has taken an early lead in Southeast Asia's small but fast-growing EV market, partly on the back of distribution partnerships with large, local conglomerates. Here are details about some of its regional partners: MALAYSIA & SINGAPOREBYD cars are sold by Sime Darby Motors, the automotive arm of Malaysian trading and logistics giant Sime Darby (SIME.KL), in two of the region's wealthiest countries. The partnership started in 2019 when Sime Darby Motors began distributing BYD EVs in Singapore, where it now has a dealership network of seven outlets. Sime Darby Motors took on the distributorship for Malaysia in 2022 and currently has nine dealerships nationwide, with another 12 in the pipeline, the company said. INDONESIAIndonesia's Bakrie & Brothers (BNBR.JK), which is focused on the manufacturing and infrastructure sector, is a distributor for BYD's EV buses in Southeast Asia's largest economy.

Persons: Nick Carey, Sime Darby, Darby, Sime Darby Motors, BYD, INDONESIA Indonesia's, Devjyot, Jamie Freed Organizations: REUTERS, MALAYSIA, SINGAPORE, Sime, Sime Darby Motors, THAILAND Rever, EV giant's, Siam Motors Group, PHILIPPINES AC Motors, Ayala Corp, BYD's, Thomson Locations: Farnborough, Britain, Southeast, Singapore, Malaysia, THAILAND, BYD, Thailand, PHILIPPINES, Philippines, INDONESIA, Asia's, Jakarta, VKTR, Bangkok

ASEAN, the 10-member Association of Southeast Asian Nations, includes Thailand, Singapore, Malaysia and Vietnam. For investors seeking emerging market exposure, Southeast Asia fits the bill, because of the region's strong economic growth and increasing population, analysts say. Some Southeast Asia companies seeking listings in the U.S. look to raise between $300 million and $1 billion, with valuations ranging from $1.5 billion to $8 billion, bankers said, without naming any firms. "International investors are seeing the value of portfolio diversification that Southeast Asia provides," Tay added. The expected pickup in Southeast Asian listings, however, could get derailed by share volatility and stringent investor scrutiny, analysts say.

Persons: DoubleDragon, Leif Schneider, Sunil Khaitan, Kelvin Teo, Andrew Lim, Tay Hwee Ling, Tay, Anuruk Karoonyavanich, Yantoultra Ngui, Scott Murdoch, Sumeet Chatterjee, Miral Organizations: Nasdaq, REUTERS, U.S, IPOs, Gushcloud International, Sunday, Reuters, VNG Corp, ASEAN, Association of Southeast Asian Nations, Carsome, Southeast, Bank, America's, U.S ., Deloitte, International, DBS, Thomson Locations: New York City, U.S, Asia, SINGAPORE, SYDNEY, United States, Singapore, New York, Philippine, Washington, Beijing, Vietnam, Thailand, Malaysia, Indonesia, Southeast, Southeast Asia, China, Sydney

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